MasterTrust the trading partner for more than 30 years experience as the broker is here to offer you with the MasterTrust Demat Account.
Grab all the related information and make a decision of whether or not to open an account with the broker.
Let’s get started!
MasterTrust Limited, a financial services company is one of the most recognized names in its industry in India. They have been offering their services for more than 30 years now. They cater to their client base of around 2.5 lakh accounts which have specific investment needs.
They also provide research-related services to clients who subscribe to them. When it comes to trading platforms, they are decent. The mobile phone app can be improved.
In terms of customer service, they are above average too. They provide their customer care service through different channels like email, phone calls, messages, chat online, and offline support through their different branches.
MasterTrust Demat Account Opening
The procedure for opening a Master Trust demat account is very simple and hassle-free. You can open an instant paperless demat as well as a trading account with them if you have some basic documents ready with you.
The first thing to do is to go to their website and click on the “Open an Account” button.
Then, you need to fill some basic details on the page like your complete name, email id, and your phone number.
If you want to get a call back from them and ask your queries regarding the Master Trade demat account or any other type of account, you can select the option.
Otherwise, you can proceed on your own and follow the steps they mention there.
The next step is to choose a plan that suits your needs best. After this, you will be required to fill in your personal details as required on the form and a primary verification of the details will be done.
This is followed by the payment option for your chosen plan. Your preferred mode of payment can be chosen here. After this, the documents required for the demat account would need to be uploaded online. In-person verification (IPV) is the next step of the account opening process.
After this, you would need to e sign your account opening form which is the last thing to do at your end. After all these steps are done correctly, your Master Trust demat account will be opened.
Another thing to note here is that if you want to do internet-based trading, you need to compulsorily sign a power of attorney on your account.
Willing to open a Demat Account
MasterTrust Demat Account Login
At the time of the Master Trust demat account opening, log in details would be shared with you. With the welcome kit of the account, a username or client id as well as a password is shared with the clients.
These details can be used to login to the platforms as well as mobile phone app of Master Trade demat account
To login to your account, you need to have a device like a desktop or a laptop or even a mobile phone with a stable internet connection. Using the details mentioned above, you can have access to your Master Trust demat account.
MasterTrust Demat Account Opening Charges
There are no charges for opening a Master Trust demat account. The annual maintenance charges for the account are dependent on the kind of plan you are opting for.
If it is a 20: 20 plan, the AMC is Rs. 300 for every year. However, it is the standard & my plan, you do not need to pay any AMC.
MasterTrust Demat Account
Demat Account Opening Charges
Trading Account Opening Charges
Demat Account: ₹400
Trading Account: Nil
₹20 per DRF plus ₹3 per certificate
₹25 per certificate or 0.05% of the value of the transaction whichever is higher + Depository charges at actual
0.02% of the value of transaction, subject to a minimum of ₹50 + Depository charges at actual
₹15 within DP / ₹25 Outside DP
MasterTrust Demat Account Closure Form
If you need to close our master Trust demat account for any reason, it is recommended to close the demat account formally. But before going through the closure process, you need to make sure of two things. The first one is that there should be no holdings in the demat account.
Any holdings left there should either be transferred to another demat account or sold off.
The other thing to note is that there should be no negative balance in the account. All the dues need to be cleared off. After this is done, the account closure form should be collected, filled, and signed.
All the account holders need to sign the form in the case of multiple account holders.
MasterTrust Demat Account Advantages
There are many advantages of having a Master Trust demat account some of which are being discussed here –
1) The pricing of Master Trust in terms of account opening charges and annual maintenance charges is quite competitive.
2) Master Trust demat account offers investments in stocks as well as mutual funds, ETFs, initial public offerings (IPOs).
3) The customer service provided by Master Trust is above average. The queries of the clients generally get resolved in time.
4) There are different kinds of services offered by Master Trust like portfolio management, merchant banking, general as well as life insurance products, etc.
5) They allow margin trading and the facility of taking loans against shares in the demat account.
MasterTrust Demat Account Disadvantages
Along the advantages come the disadvantages too. Some of them are listed here –
1) Master Trust does not offer the service of a 3 – in – 1 account to its clients which has an integrated banking service along with the trading and demat account.
2) The mobile phone app of Master Trust needs a lot of improvement.
3) Master Trust does not provide trading tools like some of its competitors. Trading tools include margin calculators or brokerage calculators, etc.
Master Trust is an above-average broker which provides good services at reasonable rates and good trading platforms.
The account opening and closure process is simple. The customer service of this broker is quite good too. Different aspects related to Master Trust demat account have been discussed in this article.
Before deciding whether to open a Master Trust demat account or not, one should analyze all the details of the brokers and make a comparison with others.
Also, one should think about his / her own requirements from a demat account and choose the one that suits his / her needs the best.
Frequently Asked Questions
1) What to do if someone wants to appoint a nominee to his / her Master Trust demat account?
There is a nomination form available on the website of Master Trust that needs to be filled, signed, and sent to their address.
In addition to this, a document for proof of identity of the nominee needs to be attached. This document could be a driver’s license, passport, PAN card or Aadhar card, etc.
2) What is meant by IPV and how is it done?
IPV, also known as in-person verification, is the process of verification of the client as well as all the documents submitted by him at the time of account opening.
This is a mandatory process and needs to be done every time a client opens an account with a broker.
It can be done in two ways. The first one is where an employee of the broker verified the details of the client by personally visiting his / her address.
The second way is online that can be done through video chat or a recording. The details of this way are mentioned in detail on the website of Master Trade.
3) How much time does it take to open a Master Trust demat account?
After the submission of the account opening form and all the required documents, it takes a time duration of approximately 7 working days to open the account. It could take longer if there are any discrepancies in the client’s documents.
In case you want to learn more, feel free to contact us