Best Demat Accounts in India
Out of the big crowd of stock brokers one needs to find out the best demat account provider in India. We are giving the leading demat account providers list here: Wisdom Capital, RKSV, SAS Online, Trade Smart Online, Zerodha, SAMCO, Trade Plus Online, 5 Paisa, Fyers, Prostocks. The given brokers belong to discount brokerage group. The demat account is used to hold stocks and securities electronically. So to buy or sell stocks, you need to open a demat trading account. Demat account in India is similar to the bank account. You can deposit shares here in place of money. The use of physical certificates of shares is replaced to ensure safety of the stocks and securities. Today all your shares are to be kept in a dematerialized form. It is entailed for trading and investing now.
After exploring best demat account providers in India, one can decide the perfect demat account as per their requirements.
The procedure to open a demat account starts as:
You can first reach the depository participant and fill up an account opening form. You require the Address proof, ID proof, as per SEBI guidelines. Some charges associated with demat account are Account opening fee: The fee is applicable at the time of opening. However, there are brokers like Wisdom Capital etc who do not charge even a penny on account opening. Chief demat account providers in India do not apply high annual demat maintenance fee.
Then comes custodian fee, that is collected on a monthly basis and it directly correlates with the number of securities held in the account.
Transaction fee: The fee is also termed as the demat transaction fee that is applicable for crediting or debiting securities to and from the demat account.
Apart from getting the best demat accounts in India, you must have a look at the plus points linked.
· The demat account is the best way to store your stocks or shares safely.
· For transferring stock, one does need stamp duty.
· One supports paperless technology using demat accounts. The excess use of papers due to procedural requirements has been avoided.
· The other risk related to shares like theft or misplacement are 100% removed.