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Edelweiss Free Demat Account
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Edelweiss is one of the elite stock broking houses in the Indian stock market, headquartered in Mumbai. Here in this article, we will assist you with Edelweiss free Demat account.
Apart from providing financial services, Edelweiss also tries to maintain good relations with its clients by providing investment advisors to gain more profits.
Before directly jumping, it would be better to have a brief discussion over Edelweiss.
Edelweiss is the listed member of NSE and BSE, and a full-service brokerage firm and SEBI registered organization were incorporated in the year 2008. The organization offers to trade in stock, currency, and commodity trading.
Edelweiss’s trading services are offered online from its web portal and offline by visiting its branches.
It is also famous for being a strong stockbroking organization present in India. The organization fundamentally offers budgetary assistance to people. The services are intended to serve different customers all over the nation.
The organization has a huge presence in significant retail portions such as housing finance, life insurance, mutual fund, retail financial markets, and the stock market.
Last year the organization held an asset base of near about ₹59400 crores and produced revenue of around ₹ 8,623 Crore.
Since 2008, Edelweiss’s team has handled 12 lakh clients in around 425 branches, and their clients are pretty happy with their services.
In 2017 the organization won a National Digital Marketing award for providing the best mobile application to its client where you can know the Edelweiss Login Process.
Edelweiss Free Demat Account Opening
To enjoy the services provided by Edelweiss, it is a must for you to open a free Demat Account. It entirely depends on the client whether he/she wants to open an account with an online or offline procedure.
Let’s have a look onto the two medium for an opening Demat account, one by one:
Online procedure: To open Demat Account online Edelweiss, the broker offers the process that is quite simple, and one can open an account effortlessly. You just need to follow a few steps, and then, you are all set to trade in the market.
Here are the steps for opening Free Edelweiss Demat Account:
- Visit the web portal of the organization
- Fill all the data as asked in the registration form like your name, contact info, email address, etc.
- After filling the form correctly, they will call you for verification purposes.
- They will ask for the scanned copies of the documents like bank details, id proofs, recent photographs, and address proof.
Offline procedure: For the ones who are not comfortable with the online procedure, they can go with the offline process, which is the same as the online process; you just need to visit the branch office physically rather than just visiting the portal sitting at home.
Once you reach the branch, the employees over there will assist you with the whole procedure.
There, also you need to fill a form with your essential details. You just need to take a few important documents with you for the account opening procedure.
Documents that are required to open a Free Demat Account are given below.
Documents required to Open Edelweiss Free Demat Account
There is a requirement of a few documents that you need to submit while opening an account with Edelweiss are as follows:
Individual identification proofs: 2 latest passport-size photographs and a copy of PAN card (Permanent Account Number).
Address proof: For the address identification, you need to have a driving license, electricity bill, ration card, Adhaar card, and other documents that clearly identify the address.
Copy of the first page of the passbook or a canceled cheque for the purpose of bank account proof.
Edelweiss Free Demat Account Charges
The organization provides zero account opening charges as it offers a free Demat account facility to the customers. But few other Edelweiss charges are levied by the company to open a Demat account.
It offers investment in numerous segments such as equity, bonds, derivative, mutual funds, etc.
Let’s discuss the other charges to be paid by the customers.
Demat Account opening charges: There are no account opening charges; the company offers free demat account service to the clients. But it is applicable only at the opening of a new account.
Annual Maintenance Charges (AMC): It may vary from one broker to another. Some start taking charges as the account is opened, and some start after 1 year, and Edelweiss is one of them.
Edelweiss Trading doesn’t charge AMC for the initial year and starts charging from the second year. The amount to be paid for AMC is ₹500, excluding taxes.
Custodians Fees: The companies directly pay the custodian’s fees to the depositories. It is also referred to as safekeeping fees.
Also, if you are into Intraday Trading, then you can refer to Edelweiss Intraday Charges and start your trading.
Let’s check out the benefits of the Edelweiss Free Demat Account.
Edelweiss Free Demat Account Benefits
Beyond Edelweiss brokerage, there are a lot more factors that one should consider before opening an account with any organization.
The customer should do a proper analysis while selecting a broker for opening an account.
Here are some benefits of Edelweiss you should know while opening an account.
Immediate updates: All the things are updated as any transaction takes place in your account. You can check it any time by just opening your account through the company’s online service.
Lower costs: Stamp duty was the major cost that the customer had to bear when physical shares were used, but now the case is different with the utilization of Demat Accounts, investors have to pay much lower costs.
Reduced the fear of risk: As of now, the paperwork is not in much use from the last few years, and most of the work is being done online. So, it has reduced the fear of theft, fraud as all the transactions are updated as soon as any trade is executed from your account.
Wide range of products and services: After opening an account, you became a part of the Edelweiss retail trading business, which provides various investment options like equities, options, mutual funds, etc.
Trading Platforms: Various trading platforms are provided by Edelweiss; you can also avail of the reports of your transactions from the mobile application platform.
Edelweiss Free Demat Account Drawbacks
Here are a few demerits Edelweiss listed below:
- Higher brokerage charges in comparison to the other brokers.
- Doesn’t offer a 3-in -1 account.
- The customer service offer by the organization is not good enough.
Conclusion
Edelweiss is familiar with being one of the renowned financial services providers. It was incorporated in 2008, but it is a part of the Edelweiss group, which was established in the year 1995.
The customers are pretty happy with Edelweiss’s services, and the company offers retail trading in numerous sectors such as in currency, commodity, stock, etc.
The customer updating process is quite fast as compared to other firms in the market. As any transaction takes place in your account, you can check it at any time to keep track of your holdings.
We hope this blog has assisted you to clear your doubt regarding Edelweiss Free Demat Account. If you still have any questions linked with this topic, you can freely ask in the given comment section. We will make an effort to figure out your problem as early as possible.
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