To experience Dhani Stocks Trading, the Demat account will offer the place to hold your securities, mutual funds, and many other financial instruments. Whereas, a trading account will give you a platform to trade in those securities that are being held in a demat account.
The mobile trading app of Dhani Stocks Ventures called Dhani Stocks also has received good reviews and is easy to use as it has a simple user interface.
The Dhani Stocks trading platforms and all the products and services have an above-average rating which is validated by the satisfaction levels of their customers.
Overall, the Dhani Stocks Demat account is quite a good choice among all the discount brokers in India. It is an experienced and reliable name in the industry.
Dhani Stocks Demat Account Opening
Demat Account opening process of Dhani Stocks is almost the same as those of other discount brokers. If you have all your documents handy, then you can have the account details in your hand in no time.
Dhani Stocks, like many other brokers, offers both online and offline process of account opening.
If you have a desktop, laptop then you can reap the benefit of online account opening while those looking for the traditional way can either download the form from the website or visit the branch to open the Dhani Stocks Demat account offline.
Below is the complete process of account opening.
Dhani Stocks Demat Account Opening Online
The first step is to go to the Dhani Stocks Ventures website and click on “open an account” option. Then, you would be required to fill in some basic details about yourself like your name, email id,, phone number, etc.
The next step is to download an account opening form and fill it completely with all the required details.
After this, one needs to upload all the necessary documents for demat account like –
Documents for Address proof
Voter Id Card
Documents for Identity proof
Voter Id Card
Bank Account Statement of the last 6 months
Salary Slips of last 3 months
Passport-sized photographs, etc.
Once you submit all the documents, fill the form and sign the form, the Dhani Stocks executive will verify all the details and after the complete In-Process verification process, the account opening confirmation email will be sent to your registered email address.
Dhani Stocks Demat Account Opening Offline
This method would include getting an account opening form from the Dhani Stocks Ventures office or downloading it from their website. After this, the form needs to be duly filled and signed.
Along with the account opening form, one needs to submit all the necessary documents mentioned above to their office.
In case someone has switched to another DP or wants to discontinue from Dhani Stocks Demat account because of any reason, it is highly recommended that he/she goes through the formal demat account closure process.
Closing the Dhani StocksDemat Account can prevent you from paying the annual maintenance charges.
Before going to the actual process, one needs to make sure of two things. The first one is that no holdings should be there in the demat account. If there are any holdings, they must either be transferred to another DP or squared off.
Another thing to make sure is that there is no negative balance in the demat account. In case of any dues, it is good to clear all the debt before closing the account.
Dhani Stocks Demat Account Closure Form
Once you meet all the basic formalities of closing the demat account, you can download the account closure form from the company’s website or collect it from the nearby branch.
All the details required in the form need to be duly filled and signed by the account holder. In case there are multiple account holders of the same demat account, all of them need to put their signatures on the account closure form.
After all the formalities are complete from both the ends – account holder and broker, the account will be closed in a few days.
Dhani Stocks Demat Account Advantages
Dhani Stocks Ventures is one of the best discount brokers in India and offers many attractive advantages to its clients, especially the new ones. Some of these advantages are being discussed here-
1. The pricing of the Dhani Stocks Ventures products and services is quite low. One can avail of the benefits of monthly subscription plans for as low as Rs. 1000 to be paid per month. Many flexible subscription plans can be availed.
2. After the account opening with them, they offer the first 30 days for trading with no brokerages. (with some terms and conditions). Nevertheless, the offer is quite lucrative.
3. Also, opening a demat account provide you the leverage of trading with margin. To trade more know about the Dhani Stocks margin.
4. Dhani Stocks Ventures has an above average in a house research team that provides good quality reports and trading calls through messages on mobile phones and emails.
This makes another good reason to have an Dhani Stocks Ventures demat account.
The research team takes into consideration the fundamental as well as technical analysis of more than 500 stocks to give short term as well as long term trading calls.
5. The first month of trading with Dhani Stocks Ventures is brokerage free and you can easily get a hang of trading while using this plan. Also, their call and trade facility is free of cost.
Dhani Stocks Demat Account Disadvantages
Let us discuss the other side of this coin now. There are some disadvantages of Dhani Stocks Ventures demat account some of which are being discussed here –
1. Nonavailability of a 3 – in – 1 account – This kind of an account makes the life of a client easier because a 3 – in – 1 account involves banking services as well along with the demat and trading account. All three services are not provided under a single account in this broker unlike some of its competitors.
2. The clients need to pay some additional charges for using some of their platforms. Also, their charges are a little on the higher side in some segments.
3. There is some scope of improvement in their customer service.
Dhani Stocks Ventures is an overall above-average discount broker in India. Its reach is good, the account opening and closing procedures are quite simple.
Its trading platforms and features of the demat account are above average. Although there are certain areas of improvement like customer service, etc.
Before making a decision whether to open an Dhani Stocks Ventures demat account or not, one should make sure to go through all the possible pros and cons in terms of charges, services, products, customer support, etc.
Frequently Asked Questions
1. Is there a 24 * 7 customer support available on Dhani Stocks Ventures? Also, is there any toll-free number for customer support?
No, the customer support service is not available 24 * 7. Nor is there any toll-free number where customers can get their queries resolved. However, there are other ways to get in touch with customer support like email, phone numbers, etc.
2. Is there any minimum quantity of several shares that need to be kept in a demat account?
No, there is no minimum number of stocks or minimum value of stocks to be kept in a demat account. Demat account is just like a bank account, the difference being that the bank is used for keeping cash and demat account is used for holding stocks and other financial instruments.
3. Can the shares which had been pledged dematerialized now?
Yes, the shares can be dematerialized in the pledger agrees.