Don’t Know How to Open a Demat Account? Fyers is Here to Help!
If you’re new to the world of online investing, one of the first questions you might have is what exactly is a demat account? A demat account or dematerialized account is basically an electronic account that exists in your name with all of your shares, mutual funds, and other financial assets recorded on it.
ABOUT FYERS
The first thing you need to know about opening a trading account with FYERS is that it’s not complicated. In fact, there are only three things you really need to do. And they’re all simple steps that can be done in less than half an hour. To open an account, you’ll go through our Account Opening and Customer Registration Form, or ACORF for short. You can download it here or fill out your details on our web-based ACORF form. Then we have one final step: KYC (Know Your Customer). To complete KYC, we require some documents and information from you before we can activate your account.
What is a demat account and how does it work?
A demat account, short for dematerialization account, is an account in which securities are stored electronically. You may have heard of trading accounts or margin accounts, but what differentiates demat accounts from other types of brokerage accounts is that they’re held by individual investors rather than corporations or institutions. Essentially, when you open a demat account with FYERS, you’ll be able to trade at any time using your own money—or your clients’ money if you’re a financial advisor—and conduct transactions using digital stock certificates. As such, they can be used as long-term investment vehicles or as part of day trading strategies depending on your goals and risk tolerance.
A step by step guide on how to open your demat account
Before you go ahead and open your demat account, make sure you know what type of demat account best suits your needs. For example, trading demat accounts can benefit investors who plan on frequently buying and selling securities (such as stocks), as it offers unlimited transactions. But if you’re planning on buying and holding investments for long periods of time, then an investment account might be better suited for your portfolio. On top of knowing which kind of account works best for you, it’s important to determine how much money should be put in that account, as each comes with a minimum initial deposit requirement that must be met in order to open an account.
Why should you choose Fyers over other brokers?
If you’re looking for one of India’s most respected brokerages, look no further than Fyers. Even among some of India’s largest banks and other investment firms, we rank high in terms of reputation and service. Our customer service is top-notch: professional, responsive, and skilled at guiding customers through every step of their trading experience. The proof? Simply look at our 4.7-star rating on Google Business — that average was calculated using reviews from more than 150 happy customers! But don’t just take our word for it; we think it would be great if you could hear about our services straight from our satisfied customers’ mouths.
Other benefits you get when you open your demat account with us
You will get access to stock trade at lowest brokerage cost. You will get access to all new bank accounts with zero balance requirements and free cashbacks. Plus, they are also eligible for deposit facility in your trading account. Sign up with FYERS today! It’s fast, easy and free of cost. We also offer doorstep banking service as per your convenience which is simple, secure and safe. With us, you can perform financial transactions on single window through online banking services, over phone banking or even by visiting any of our branches across India. All these services are available 24x7x365 days – giving you maximum flexibility while managing your finances anytime anywhere.
Transferring securities from existing accounts at other brokers to your new demat account with us.
If you have an existing demat account elsewhere, it’s usually possible to transfer securities from that account. Once you’re registered with us, give our Customer Service team a call or send them an email and they’ll walk you through your options. The good news is that we can typically transfer securities that are held at other brokers into your new demat account with us—even if they don’t belong to you! In many cases, all you need are receiving instructions from your broker. We will help coordinate any transfers on your behalf so there’s no hassle or confusion. You can also take comfort in knowing that we have fraud detection safeguards in place and enforce strict rules for trading securities online—so there’s no reason for alarm when making large transactions online with us.
TRANSACTION CHARGES
Don’t worry about transaction charges with FYERS. We will charge Rs.100/- as service tax for transacting through an account holder of FYERS at any other broker. So, if you are planning on investing in stocks, futures or options by opening an account with another broker, do it through FYERS and save money on transaction charges. This means that you can trade in any number of scrips without worrying about additional fees on every purchase or sale you make!
User-friendly Trading and Investing Products
One of our core values at FYERS is creating products that are user-friendly and useful for investors. The FYERS platform currently has 40+ available products, which you can select from directly within your trading account. You don’t have to hunt for information about our products as we provide a detailed description along with product images. One of our unique offerings includes 100s of research reports written by professional analysts in their respective fields. You can access these reports right on your trading screen without having to navigate outside our website.
Open Your Demat Account in Under 5 Minutes
From now on, opening your demat account will be as easy as breathing. Just follow these 5 steps and start your trading journey in no time. Step 1: Select your preferred package from Fyers offers page with our lowest brokerage demat plans for trading stocks, shares and mutual funds.
Contact Us
If you’re looking for help opening a demat account, contact us on above link. We’ll be happy to answer any questions you have. You can also schedule an appointment with us here.