SMC Global Demat Account

SMC Global is a financial services company that provides full-service brokerage services. Opening SMC Global demat account is a good choice if you want to invest in various financial instruments.

It offers trading across different segments like equities, derivatives, currency, commodity, depository services, etc. 

The company was established in the year 1990 and has won many awards in the industry since. Grab the full detail on the SMC Global Demat Account and make a proceed further with the best trade experience. 

SMC Global Demat Account Review

SMC Global provides the facility of opening a demat as well as trading account together. Trading in stocks can not be done without having a demat account with them. It provides many different kinds of financial services and products.

The company has a presence in more than 500 cities across India as well as Dubai. 

SMC Global demat account is for holding stocks and other financial instruments like government bonds, mutual funds, etc.

While a trading account with them is for trading (buying and selling) of these securities. Opening SMC Global demat account is very easy and convenient.

They have more than 500 branches of SMC Global across different cities in India and Dubai. In terms of demat account charges and brokerages, etc., they are one of the best in the industry. Their customer service is also good and therefore any queries of the clients would be resolved in a timely manner.

There are many advantages of SMC Global account like a large number of financial services and products that clients can avail in addition to the basic demat and trading account facility, large network of SMC Global branches, etc.

The disadvantages include the pricing of financial products and services, the non-availability of a 3-in-1  account advantage, etc.

One should carefully check all the features and pricing of a broker before deciding to open an account with him or not. A decision can be different for every investor.

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SMC Global Demat Account Opening

SMC Global demat account can be opened easily by either of the two methods. The first one is online method. Let us discuss the steps of the online method first.

1) The first thing that you need to do is go to the website of SMC Global and click on Open an Account button.

2) This will give you a pop up where you will be required to fill in your general details like name, contact number, email id and city. 

3) As soon as you fill these details, a one-time password (OTP) will be sent to your contact number which will need to be filled in the box that opens on the screen.

4) After this, you will have to fill forms which will ask for your basic details and you would need to upload scanned copies demat account opening documents.

5) Some of the documents that need to be uploaded are proofs of identity and proofs of address including PAN card, voter id, ration card, electricity bills, bank account statement, etc.

6) After the whole process is complete on your end and their ends as well, you will be an account holder of the SMC Global demat account.

The other method of opening SMC Global demat account is offline.

If you want to open SMC Global demat account offline, you will be required to get the account opening form from one of their branches.

The form would need to be filled with correct details along with your signatures and the documents mentioned above would need to be submitted to the branch office.

Once the process is complete, you will be given a username and password to handle your investments.

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Wish to open a Demat Account

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SMC Global Demat Account Login

Every SMC Global account holder is given a username and password to login to the account and view as well as manage the holdings.

Once you know this information, you can log in to your account from any of the devices like laptops, mobile phones, or a desktop. The device should be supported by the internet in order to be able to operate that account.

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SMC Global Demat Account Charges

Unlike many of the brokers, the charges for opening SMC Global demat account are not nil. So, here you cannot have an SMC Free Demat Account.

So, if you are thinking to open the account with the SMC Global then you have to pay the sum of ₹499 that needs to be paid just one time while the opening of the account.

Additionally, there is an annual maintenance charge of Rs. 300 that needs to be paid on a yearly basis.

 

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SMC Global Demat Account Closure Form

If you decide to close SMC Global demat account, you would need to get an account closure form and fill it with complete details and sign at the required places.

If there are multiple holders of the account, then, signatures of all the holders would be needed in the form.

If a demat account is not in use, then, it is recommended to close the demat account formally in order to save the annual maintenance charges that are applicable even if the account is lying idle for a long time.

Before you decide to close SMC Global account, you need to check if there are any holdings in it or any kind of balance that needs to be paid to the company.

If there are any holdings in the account, they need to be transferred to another DP and if there are any negative balances, they also need to be paid off. After clearing both these requirements, you can proceed with the formalities of the account closure form.

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SMC Global Demat Account Advantages

There are many advantages of having an SMC Global demat account. Some of which are going to be discussed here –

1) The extensive network of SMC Global is one of its best advantages. They are present in hundreds of cities in India and even abroad. Their services can be availed by a large number of people.

2) Investments are possible in a wide range of financial products from a single account. One can even avail the benefits of general insurance with SMC Global.

3) The charges levied by SMC Global are also competitive and affordable.

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SMC Global Demat Account Disadvantages

Apart from the advantages, there are some disadvantages too. Here are the major drawbacks of opening an SMC Global Demat Account discussed in brief.

1) Non-availability of a 3 – in – 1 account is one of their biggest disadvantages. A 3 – in – 1 account makes the life of an investor easier because he/she can avail the facility of banking, demat as well as the trading account through one account only.

2) Many brokers do not charge a demat account opening fee but SMC Global does have an account opening charge.

3) Since it is a full-service broker, it has many services and products to offer to its clients. Extra charges need to be paid to avail of the facilities of such services and products.

4) If an investor wants to trade on the National Stock Exchange, this can not be done through SMC Global.

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Conclusion

SMC Global is a big financial services company that offers a wide array of products and services to its clients.

They offer the facility of a 2 – in – 1 account to their clients where the clients can hold their investments and also trade in those through a single account.

SMC Global demat account opening process is quite similar to other brokerage houses.

The online process is simple and needs copies of basic documents like PAN card, Aadhar card, bank account statements, driver’s license, etc. The account opening and maintenance charges are also competitive.

The account closure process is simple and needs to be done if the account is not in use. A closure form needs to be submitted filled with all the details and signatures of all the account holders.

There are pros as well as cons of having an SMC Global account and one needs to carefully evaluate all of them before deciding whether to open an account with them or not.

The pros include a large number of branches that can cater to a large number of clients, a wide range of products and services that are available to the clients, etc.

Disadvantages of SMC Global account include non-availability of the facility of a 3 – in – 1 account, extra charges for additional services, etc.

Overall, SMC Global is a good option to open a demat account. However, it is recommended for all investors to first analyze different advantages as well as disadvantages and compare the analysis with their needs and expectation from a demat account.

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Frequently Asked Questions

1) For the purpose of stock trading, is it necessary to open a demat account with SMC Global?

Opening a demat account makes you eligible to trade stocks online. So yes, it is mandatory to open SMC Global demat account for the purpose of trading stocks online.

2) Can the funds transferred online in SMC Global account?

Yes, the funds can be transferred through payment gateways with some specific banks.

3) What are the documents needed for opening an account with SMC Global?

Here is the list of documents needed for opening SMC Global demat account –

1. a) Copy of PAN card
2. b) Copies of address proof like driver’s license, voter id, passport, attested copies of bank account statements, etc.
3. c) Copies of identity proof like PAN card, DL, MAPIN card, etc.
4. d) 2 photographs (passport size)

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