SMC Free Demat Account

SMC Free Demat Account is a service extended by a full-service stockbroker – SMC Global. It was established in 1990 as a diversified financial services company that offers brokerage services too.

You can trade in multiple financial instruments like:

• Shares
• Commodity
• Currency
• Derivatives
• Mutual Funds
• IPO
• Insurance

It was founded under the leadership of Mr. Subhash C. Aggarwal and Mr. Mahesh C. Gupta.

The stockbroker is SEBI registered and is a member of NSE, BSE, NCDEX, MCX, ICEX, and MSEI. Further, it is a registered depository participant at CDSL and NSDL. The broker provides you to get the share market account opening done in an easy and simple way.

SMC Global has more than 1.27 Lakh active clients currently and a workforce of 3,000+ employees. Also, it has more than 2,500 sub brokers and partners spread across the country in 500+ cities.

There are multiple reasons that influence traders and investors to trade with this broker. But to get started, one has to open a demat account. Again, the broker comes up with the significant benefit of an SMC free demat account. 

Dive in to grab all the details around the free demat account services provided by the broker. 

SMC Free Demat and Trading Account

To stay competitive and relevant in the market, every broker has to mend its ways of providing services to its clients. SMC Global also entered the list of brokers that offer free demat account.f

Moreover, it has become prevalent to provide two in one account, i.e., Demat account and Trading account. Many traders and investors are confused among these two. So, let’s first understand the difference between demat and trading account.

A trading account is the one where your funds are transferred for trading in the stock market. It is linked to your bank account. SMC Global Demat Account is the place where the bought financial securities are stored.

It is not required for an intraday trader but is mandatory for all other trading styles. Thus, with the basic concept of Demat and Trading accounts clear, let’s now discuss the SMC free demat account opening process.

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SMC Free Demat Account Opening

To facilitate a client, every stockbroker provides varying ways to open a demat account with them. SMC Global provides you with two ways:

• Online Method
• Offline Method

We’ll talk about both of them in detail.

Online Method

To quicken and streamline the process of opening a demat account, SMC has provided its customers and clients with a digital platform. Follow the steps listed below to open an SMC free demat account.

• Open the demat account opening page.
• Enter the mandatory details like – Name, Phone Number, City, Email ID, and State.
• Click on the Submit button.
• You’ll be redirected to a new page asking for other relevant information like – Father’s Name, Occupation, Income, Address, etc.
• Fill the form with the corresponding information.
• After the form is submitted, you have to upload some documents on their servers.
• Once all these steps are concluded, you will be asked to complete the eKYC.
• Lastly, you’ll receive a confirmation mail for the same.
• Once you obtain your login credentials to SMC trading platforms, you’re all set to trade in the share market.

The complete procedure is concluded in less than 15 minutes.

Offline Method

Are you in old school when it comes to trading in the stock market?

Don’t worry! We have an account opening process for you too. You can open an SMC free demat account offline too. For this, you’ll have to visit the nearest branch of SMC Global, and the executive will assist you with the rest of the process. 

Other than this you can also download the form from the website and fill all the required fields to open your account without delay. 

The opening process will be concluded at the earliest. An exhaustive list of the documents required for this process is as follows:

• Two Passport Size Photographs
• Proof of Identity – Passport / PAN / Voter ID / Driving License / MAPIN Card
• Photocopy of PAN Card
• Proof of Address – Driving License / Voter ID / Passport / Ration Card or others.
• Bank Statement of the Last Six Months
• Letter from the Bank certifying the account number and its operational period.

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SMC Free Demat Account Eligibility

When you apply for a free demat account, you must meet the basic eligibility criteria. The points of eligibility are listed below:

• You must be above the age of 18 years.
• If you are not 18 years old, you can still open a demat account by having a guardian in the account.
• You must have a PAN Card Number.
• You must be a residing Indian citizen.
• A valid address proof.

Now, let’s talk about the various charges related to the SMC demat account.

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Free Demat Account Opening Charges in SMC

Every stockbroker levies some fixed charges on all their customers. These charges are specific to your demat and trading accounts. Demat Account Opening Charges and Annual Maintenance Charges top the list among all of these.

Their amount is very important when the trader or investor plans on opening an account with any broker. As the name itself suggests – SMC free demat account, the broker charges zero charges for opening an account with them.

Moreover, they provide free AMC for the first year. From next year, they will charge ₹300. For easier understanding, the information has been tabulated below:

 

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SMC Free Demat Account Customer Care

SMC free demat account is a superb service extended by the stockbroker. But, what if you need some help and wish to reach out to the SMC customer care?

In the chaos, the mind goes numb. But you don’t have to panic. Below is a list of all the communication ways to get in touch with the support team of SMC. 

• SMS
• Toll-Free Number
• Email ID
• Fax Number
• Helpdesk
• Website

The details for all of these communication ways are tabulated below. They are as follows:

 

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Conclusion

SMC Global is a full-service stockbroker that provides its clients and customers with the facility to open a two in one account – demat account and trading account, for free.

You can trade in multiple stock market segments as it is affiliated to many stock exchanges.

The impact of a broker is also proportionate to its offline presence as many people still prefer the physical entities over their digitized versions. The services by all stockbrokers are the same, and the only varying factor is the service quality.

It is all about this factor that makes the difference. Thus, with SMC, you can open a demat account free of cost, and the AMC is waived for the first year. From the second year, you have to pay only ₹300 annually.

This reduction in the expenses of the trader or investor helps him focus on enlarging the profit margin. It makes the SMC free demat account worth the investment.

Happy trading, folks!

Wish to open a Demat Account? Please refer to the form below

 

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