Open Demat Account Online

Are you looking to Open Demat Account Online? You will be surprised to know that most of the tech-savvy stockbrokers have provisions to do so. Now you do not need to go to any branch or request any executive to come over to your place or office for any formalities.

So here arise a question, where to open demat account?

In this time where everything can be easily done online, opening a demat account is no more hassle. Every step of the process to open a Demat account, has been enabled to be completed online. Also, Before opening the account, you can know about Demat Account Types to ease your trading according to your convenience.

In this detailed review, we will have a look at the process and also talk about 5 stockbrokers that open Demat account online for you such as Motilal Oswal Demat Account Opening.

Open Demat Account Online Basics

With so much technology transformation happening across different sectors and industries, stockbroking space has also seen its bit in making consumer’s life easier.

At the same time, from the customer’s point of view, there is easy access to internet-enabled portable devices such as a mobile, tablet, laptop but certainly, there is a shortage of time.

Very few people will be comfortable with age-old methods of filling forms, dispatching them to the broker’s address, drop cheque against the broker’s account, and other physical activities.

Also, read Demat Account Transfer.

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Some of the documents you will need to submit to open Demat account online include:

• PAN Card (Mandatory)
• Address Proof (Passport, Driving License, Ration Card, Electricity bill)
• Aadhar Card (number)
• Income statement
• Bank account proof (Bank statement, Cancelled Cheque or copy of the first page of bank passbook)
• 2 Passport-sized photographs.

For more information, you can check this detailed review on the documents required for Demat account.

Although some brokers have been working continuously towards bringing this eco-system online while strangely most of them yet have not been able to realize the importance of this yet.

This needs to be understood that soon in the coming time, it will actually be a mandate from the customer’s point of view rather than convenience.

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Stockbrokers that Open Demat Account Online

Nonetheless, let’s talk about some of the “aware” stock broking companies in India from both discount and full-service space that allow to Open Demat Account Online.

In fact, most of these broking companies will actually open Demat account on the same day or rather in few hours itself (if the documents are in order).

You can open NCDEX account or MCX account to get into the commodity trade with any of the following broker.

5Paisa

5Paisa is a discount stock broker, that was earlier part of IIFL but now exists as an independent entity since July 2017.

The broker offers one of the lowest brokerage charges in the stockbroking industry in India at ₹10 per executed order. If you want to know exact charges, you can review 5paisa Demat Account Charges and get your doubts cleared.

Some of the features offered by 5Paisa include:

• 5Paisa Free account opening and first year AMC with an initial trading capital of ₹25,000
• Free research tips and research with daily trading strategies
• Free first 5 trades without any brokerage charges
• Option to invest in mutual funds and insurance online
• High-performance trading platforms including 5Paisa Mobile App, 5Paisa Trade Station and 5Paisa Trader Terminal

In order to open your Demat account with 5Paisa, you need to:

1. Fill in your personal details
2. Fill Bank Details
3. Upload documents
4. Make payment (if applicable)
5. E-sign your form

That’s it!

Once you are done, you will be provided with a username and password along with specific links to trading platforms and back-office portal.

Check out the complete process of the 5Paisa Demat Account Opening process using Aadhar here.

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Samco

Samco, a Mumbai based online stock broker, offering retail brokerage services at the minimum fees of ₹20 per transaction. 

It is registered with India’s leading stock exchanges like NSE, BSE, MSEI, MCX, and NCDEX, allowing its customers to trade in different segments, including equity, commodity, currency, derivatives, etc. Along with this, it will enable trading in mutual funds, IPO, and other investment products. 

Here are some more features of Samco that sets it apart from another brokerage firm:

It offers multiple products that help customers to trade in stocks and mutual funds.  

1. StockNote: It is the stock trading app that enables investors and traders to buy and sell securities. 
2. RankMF: Another mutual fund investment platform that makes it easy for investors to invest in mutual funds. 

Opening the SAMCO Demat account is pretty straightforward. You can either apply online or offline. For paperless account opening, you would be able to open the store in 5 minutes. 

Just follow few steps necessary to open the Demat Account. 

• Visit the website and enter the necessary details. 
• Complete your KYC and upload necessary documents like PAN card, Aadhaar Card, Bank Account details, and Address Proof. 
• After the in-person verification, your account opening confirmation email will be sent to you on your registered email account.
• The best benefit of opening a Demat account with SAMCO is opening the account for FREE!. Along with this, it waives off the annual maintenance charges, thus offering extra benefit to its customers.  

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Zerodha

Zerodha is the pioneer of discount broking space in India since 2010. The broker is known for bringing in technology-based innovations on a regular level. Yes, it still lacks when it comes to customer service and support, but overall it brings value for money trading to its clients.

Some of its top USPs of Zerodha include:

• Free delivery based trades (zero brokerage)
• High-performance trading platforms such as Zerodha Kite Web, Zerodha Kite Mobile, Zerodha Pi
• Customer education-based initiatives such as Zerodha OpenTrade and Zerodha Varsity
• Direct Mutual fund investment platforms such as Zerodha Coin

When it comes to opening Demat with Zerodha, it can be done using your Aadhar card that has its eKYC done. You need to follow some basic steps as mentioned below:

1. Enter Your PAN Card details
2. Make the payment depending on the account type – Equity & Currency (₹300) and Commodity
3. Post making the payment, enter your bank account details
4. Upload documents including PAN Card, Income statement, signature
5. Email verification through OTP
6. Enter your Aadhar number
7. Mobile verification through OTP
8. Download POA (Power of Attorney), sign it and courier that to Zerodha Office

To activate the account one needs to complete the process of Zerodha IPV.

Check out the complete process of Zerodha Demat Account Opening process using Aadhar here.

The last step is an offline step while the rest of the process is online in nature.

Post verification of your POA and uploaded documents, your account will be activated in 2-3 business days.

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Angel Broking

Angel Broking has shown a keen interest in technology-enabled solutions for its clients. In fact, the broker introduced ARQ – an automated recommendations engine in 2016 that takes away any human biases towards stock recommendations for investment.

Other than that, the broker keeps a close focus towards updating its trading platforms on a regular basis. Thus, be it the Angel Broking Mobile App, Angel Broking Web or even its terminal solution – Angel Broking Speed Pro, all these applications get regular updates through its outsourced technology team (although all its softwares are their own and not 3rd party applications).

When it comes to Angel Broking Demat account opening online, the broker has introduced Digi-KYC (or 5MinWeb) in the recent past. The overall workflow is slightly unconventional and asks for a trading amount option right at the start, which can be a little overwhelming for beginner traders. Nonetheless, Angel Broking is a prominent name since 1987 and can be trusted on that front.

In order to open your Angel Broking Demat account online, you need to follow the below-mentioned steps:

1. Enter your personal details, verify your mobile number through an OTP
2. Choose a Brokerage plan based on your initial trading amount
3. Enter your PAN details along with Aadhar card followed by OTP re-verification
4. Add your address and other personal details
5. Pay Account Opening fees
6. Upload requisite documents

Post application submission, Angel Broking takes few hours to a day or two in order to activate your Demat account. Once your account is activated, you will be provided with the login credentials of different trading platforms, back offices, etc.

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Motilal Oswal

Motilal Oswal is a full-service stockbroker and is one of the oldest brokerage houses in India established in 1987. Motilal Oswal head office is in Mumbai.

The broker is known for its research and wide offline presence through its sub-brokers and franchise locations.

Thus, if you are somebody who prefers an offline presence of your broker around your area, then you may go for full-service brokers such as Motilal Oswal (2500+ branches) or Angel Broking (11,500+ branches).

Probably, Motilal Oswal has one of the weakest design and user experience of its online Demat account application portal. Like its other positionings in technology, this portal can also certainly improve in making client’s life easier while getting them onboard.

So, if you are convinced enough about the Motilal Oswal brand, then you need to follow the below-mentioned steps to get your feet moving in the space of trading and open Demat account online with Motilal Oswal:

• Enter your personal details and verify your contact details
• Upload your scanned documents
• Upload your passport-sized photograph
• Enter your Aadhar card details, validate your mobile number using OTP
• Go through an Online in-person verification (IPV), implying a video call based verification through a Whatsapp or Skype call

Post verification of documents and IPV, your account will be activated.

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Edelweiss Broking

Edelweiss broking is most likely one of the least prominent stock brokers in India. It will be a surprise for most of the readers to know that Edelweiss was the first brokerage house in India that introduced the concept of online demat account opening. Yea, that’s right!

Even though Edelweiss is not really famous for its trading platforms, service and the likes but the most likely reason for that is its under-marketing and low brand equity. This needs to be understood that developing valuable entities for clients is one thing and communicating those values is another. Edelweiss broking has been clearly missing the trick when it comes to the communication part.

Nonetheless, talking about the process to open Demat account online through Edelweiss, it requires you to go through the following steps:

1. Enter a valid email id
2. Provide PAN card and DOB
3. Upload PAN Card, Photo, Bank Proof, Address Proof

Edelweiss Broking claims that the overall Demat account opening process can be completed within 15 minutes along with account activation, assuming all the documents are in place.

However, in our experience, there are still few manual aspects including IPV and not to mention that the document verification actually takes more than 15 minutes as well. Having said that, Edelweiss Broking still is one of the quickest stockbrokers when it comes to account opening online.

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ICICI Direct

ICICI Direct is another player in this field who provides this service to open accounts online. ICICI Demat Account Opening process is simple and straightforward. You can just activate your account by just seeing it at your home. |

Follow the step-by-step procedure and start trading within 30 minutes of account activation.

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Conclusion

So, these are the top 5 Stockbrokers in India that allow you to open Demat account online. Yes, there are few more brokers that allow account opening online but their overall process still is in the pre-mature stage and can be improved significantly to be part of this top stock brokers list.

Following back from the point on some of the brokers not realizing the importance of online account opening, it includes some of the big names in the industry. Brokers such as Sharekhan, ICICI Direct, or Kotak Securities do not have an online account opening process.

Yes, it is good to build brand equity over a period of time but going ahead the only way it can be maintained is by bringing convenience to the users through leveraging online mechanisms and not fancy ad campaigns.

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You may also use the form below to get recommendations for a suitable stockbroker for intraday trading. We can set up a callback for you and if you like, you may choose to open the trading account with the corresponding stockbroker: