Reliance Free Demat Account

Reliance Smart Money, formerly known as Reliance Securities, is a full-service stockbroker. Want to reap the advantage of trading with the broker, then here is the complete information of the Reliance Free Demat Account. 

Prior to learning about the free demat account, you should know about the stockbroker a bit. Let’s go!

It was established in 2005 and currently has over 1000 offices across the country. It is SEBI registered as a stockbroker and is a depository participant with CDSL and NSDL. The broker facilitates trade in multiple financial segments like:

• Equity
• Derivatives
• Commodity
• Currency
• IPOs
• Bonds
• Mutual Funds
• Insurance
• PMS (Portfolio Management Services)
• ETFs

The stockbroker extends these services as it is a member of various stock exchanges like NSE, BSE, MCX, and NCDEX.

Now that you have a brief knowledge about the stockbroker, we should move to the discussion of the Reliance Free Demat account.

Reliance Free Demat and Trading Account

Almost all stockbrokers provide their customers with the facility to open a two in one account, i.e., Demat account and Trading account. Reliance Smart Money is no exception.

This increases the customer’s experience and fastens the process of commencing trade.

Many traders and investors are confused about the difference between a Demat account and a Trading account. Here’s a brief explanation of the two.

A Reliance demat account is where all your purchases from the stock market are kept, and a trading account carries out the transactions related to money.

Your trading account is linked to the bank account for transferring the required funds.

Reliance has a range of trading platforms with a vibrant support ecosystem that helps its clients have an excellent trading experience with the stockbroker.

According to the NSE portal, they have a strong base of clients with 1,17,071 active clients in the financial year 2020-21. 

Now that we have understood the Reliance free demat and trading accounts, let’s move to the account opening process.

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Reliance Free Demat Account Opening

Every stockbroker facilitates its clients with two ways to open a demat account, and Reliance is no different. You can open a Reliance free demat account in the following ways:

• Online
• Offline

Let’s discuss both of them in detail.

Online Method

To fasten the process of opening an account, Reliance free demat account can be opened online. The complete procedure is as follows:

1. You log on to the official website of Reliance Smart Money.
2. On the home page, you’d find a button that reads – “Open An Account”.
3. You’ll be redirected to a new webpage.
4. Enter the necessary details like – Email ID, Mobile Number, PAN Number, and Date of Birth.
5. Complete the verification of ‘I’m not a robot.’
6. Now click on the ‘Validate and send OTP’ button.
7. After validating with the OTP, you’ll have to fill the form for opening a Reliance free demat account.
8. Once the form is submitted, you must submit the required documents by uploading them on their server.
9. The broker will conduct a verification of your identity. It is generally an in-person verification.
10. After all these steps are done, you’ll receive your demat account number.
11. Now, you’re all set to trade in the stock market.

Offline Method

Many traders and investors like it the old school way. They feel that visiting the branch and getting it done in person is more secure than the online procedure.

The process for the offline method is the same. The difference is that you need to visit the nearest branch, and an executive will assist you. Other than this, you can also download the form from the website and fill the required details. Once done, you can send the form to the nearest branch. 

The Reliance free demat account will be opened at the earliest.

The documents required to open a Reliance free demat account are as follows:

• PAN Card
• Passport size Photograph 
• Identity Proof
• Address Proof
• Income Proof
• Canceled Cheque

With the opening process clear, we need to know the expenses to be borne for opening this demat account.

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Free Demat Account Opening Charges in Reliance

Reliance free demat account, as the very name tells you, is free and can be opened without paying a single penny. The significant charges for opening an account with a stockbroker are for opening and maintenance (Annual Maintenance Charges).

Thus it is necessary to discuss these charges before you rush to opening an account with Reliance.

Reliance offers to open your demat account for free, and the AMC charges have two options. They have been listed in the table below:

 

If your account was activated before September 1, 2015, you have to pay ₹300, and if it was activated after that, you have to pay ₹400.

The other choice to pay a one time AMC is to pay ₹2500. This amount is refundable, and in this plan, you don’t have to pay any monthly installments.

Reliance Free Demat Account Customer Care

Reaching out to the stockbroker in case of a query is the biggest facility provided to the client. There are multiple communication methods to have your mind sorted.

You can raise a ticket at Reliance in the following ways:

• Website Feedback Form
• Customer Care
• Email ID

The following table provides you with the relevant details:

 

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Conclusion

Reliance Smart Money is a full-service stockbroker that extends the facility of opening a free demat account to its customers. This broker allows trading in multiple financial segments due to its affiliation to several stock exchanges. 

The offline presence of a broker enhances customer experience and increases the credibility of the company in the eyes of the clients.

Reliance free demat account is no exception in the industry as many brokers offer the same but varying services and quality.

You can open a demat account free of cost, and the AMC charges have an option to pay one time, which is refundable, or yearly.

A reduction in the expenses allows the investor or trader to trade more and work more to increase their profit margin. We hope this article on Reliance free demat account has answered all your queries.

Happy trading!

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