Another discount broker, Zeroshulk comes up with the broker services that help you reap the trading benefits. To get started with trade, open the Zeroshulk Demat Account.
Here is the detailed information on the account. Dive in to have grab in-depth process and charges.
Zeroshulk has been founded as a part of a stock broking company called Vikson based in Chandigarh. It is a discount broker and offers low pricing to its clients.
By opening a Zeroshulk demat account along with a trading account, the clients can invest in stocks, bonds, etc. and trade in currency, a commodity, equity, etc.
Zeroshulk Demat Account Review
Zeroshulk is a discount broker that provides many services of trading and demat account, initial public offering services, portfolio management services, etc.
They allow investments in demat account in the form of IPOs, mutual funds, bonds along with stocks. They provide trading services in the segments of stocks, commodities, and currency.
Opening a demat account makes your entry into the trading world and helps you in generating wealth and making a profit.
In terms of account opening costs, brokerage plans, transaction costs, etc, the broker is quite competitive and offers different low priced plans to different kinds of customers.
Also, in terms of exposure, this discount broker provides good exposure in all the trading segments to its clients.
The trading platforms of Zeroshulk are average and can be made better with the latest technology. Customer service of Zeroshulk is provided through online chat option, email, phone calls as well as social media.
In terms of customer service by the executives, they need to improve a bit to be able to be up to the mark.
They need to improve the quality of communication with their clients instead of promotional calls for their products and services.
Zeroshulk provides some good trading tools to make their clients’ trading experience better.
Three of the tools that they provide are Zeroshulk brokerage calculator, span calculator, and holidays calendar. Overall, Zeroshulk is an average discount broker providing decent services to its clients.
Zeroshulk Demat Account Opening
Zeroshulk demat account can be opened like demat accounts in all the brokers operating in India. The account can be opened online as well as offline.
The process of online opening the account is extremely simple and can be done in a matter of minutes if you have all the required documents ready with you.
Their website claims that the account can be opened without any costs and hassles within 15 minutes with your eKYC Aadhar card.
You just have to go to their website and fill some details like name, your email id, and phone number. There is an option of getting a call back from them in case you want some help in getting your Zeroshulk demat account opened.
Once you fill the necessary details in the Zeroshulk online account opening tool, it will generate the form for opening the Zeroshulk demat account.
Once you get it, you need to fill in all the required details. Along with the details, you will need to upload some basic documents required for demat accounts like proofs of address, proofs of identity, bank account statements, etc.
Some of the documents are PAN card, driver’s license, passport, Aadhar card, ration card, last 6 months bank statements, photographs of the account holder, etc.
Once the Zeroshulk demat account opening form is submitted along with the above-mentioned documents, the Zeroshulk executives will verify the details.
After the completion of all the steps of the process, the account will be opened. it is quite a fast and simple process.
If you want to go for an offline method of opening the account, you can get the account opening form from their office or website.
After filling the details and attaching the required documents, you can submit them to their office. Your account will be opened in a few working days.
Wish to open a Demat Account
Zeroshulk Demat Account Login
Once the entire formalities of account opening are cleared, the account gets opened and a client id and a password are shared with the account holder.
To start operating the account, one needs any device like a phone, laptop, iPad, etc with an internet connection.
Once you download the app of Zeroshulk, you can log into your account with the help of the client id and password that has been shared with you.
Zeroshulk Demat Account Charges
The Zeroshulk demat account opening charges are nil. Like all the other brokers, there is an annual maintenance charge of Rs. 300 that needs to be paid every year by the client.
However, the annual maintenance fee for the first year of account opening has been kept as zero.
Zeroshulk Demat Account Charges
Demat Account Opening Charges
Demat Account: 300 pa or 1420 for lifetime
Trading Account: Nil
₹15 or 0.03% per debit instruction whichever is higher
Zeroshulk Demat Account Closure Form
If you need to close a Zeroshulk demat account because of any reason like shifting to another DP or liquidating all the holdings, then, it is a good idea to close the account formally.
Follow the complete process to close your demat account. In case you fail or avoid closing your account than you have to pay the charges for annual maintenance of the account even if it does not have any holdings.
The first step is to procure the account closure form either from the website or their office. The form needs to be filled with all the required details and signed before submission.
If there is more than one holder of the account, then, all the account holders need to sign the account closure form.
Before going through the entire account closure process, one needs to make sure of two things. The first one is that there is no negative balance in the account. If you find any, then, that needs to be cleared.
And the second thing is obvious that there should not be any holdings in the account. If any, they either need to be sold off or transferred to another DP.
Zeroshulk Demat Account Advantages
Here are some more benefits that you can avail by opening a Demat Account with Zeroshulk.
1. The pricing of Zeroshulk is very attractive for its customers. In terms of account opening charges and brokerage costs it charges from its clients in trading.
2. Zeroshulk offers different kinds of brokerage plans which have fixed costs. The clients can choose one plan as per their preferences and requirements.
3. Zeroshulk allows trading across all the different exchanges in India like stock exchanges as well as commodity exchanges.
4. Zeroshulk demat account allows investments in mutual funds and bonds too unlike some of its competitors.
5. Zeroshulk offers tools and technology that help in making the trading experience of clients better like brokerage calculator and facilities like bracket and cover orders, etc.
Zeroshulk Demat Account Disadvantages
Apart from the advantages discussed above here are some disadvantages associated with the brokers’ demat account.
1. Since it is a relatively new name in the broking industry, there is a lot of trusts that need to be created and maintained.
2. The customer care service of Zeroshulk is not up to the mark when compared with other competitors of the broking industry.
3. Trading platforms need some improvement to enhance the users’ experience.
4. Call and trade facility is not free of cost. It is at Rs. 20 for every order.
Zeroshulk is an average discount broker based in Chandigarh. You can open the Zeroshulk demat account and trading account via the online and offline processes. Only it is necessary to have all your documents required for the demat account.
The charges for opening the account is Zero and the annual maintenance charges also need to be paid only from the second year of account opening.
This discount broker offers its services across different segments spread over several exchanges. Its services are average and so are its trading platforms.
There is a scope of improvement in its customer service. Although the pricing of the broker seems to be very reasonable, whether they are brokerage plans, transaction charges, or account maintenance charges.
Before taking a decision whether to open a Zeroshulk demat account or not, you should carefully evaluate different good as well as bad things about the broker and compare them to your expectations and requirements from a broker.
Overall, Zeroshulk is an average broker and you can choose it to open the account if you find its services satisfactory and good enough.
Frequently Asked Questions
1. How much time does it take to open a Zeroshulk demat account?
It takes around 3 -5 working days to open a Zeroshulk demat account once all the documents and the account opening form has been submitted.
2. Why is a PAN card, address proof, and an income proof needed to open the account?
Other than the identity proof, you have to submit additional documents like PAN card, address proof, income proof for the KYC verification. Make sure you have all the documents in hand to avoid any trouble or delay in account opening.
In case you are looking forward to more details, feel free to contact us