Home Business Don't Forget To Get Ready these Documents Before Opening Trading Account

Don’t Forget To Get Ready these Documents Before Opening Trading Account

The trading account is the platform for trading online in the share market. It has replaced the traditional ways of trading, which used to be on the trading floor with the buy and sell orders communicated by the stock brokers through gestures and outcry. Now you can trade conveniently from your armchair with a trading account on your laptop or mobile phone. Orders can be placed with just a few clicks and you can have a complete record of your transactions.

Benefits of Trading Account

  • It is the interface to trade in the stock exchange. It shows live market prices along with historical prices, market depth, etc.
  • It helps place buy and sell orders in the stock exchange. The order placed through the trading account is forwarded to the stock exchange by the broker. One cannot trade in the stock exchange directly.
  • It is essential for online trading as the stock exchanges have been digitized and trading is only possible through a trading account.
  • It stores the summary of all your transactions carried out in the stock exchange.
  • It links the bank account and the Demat account. The bank account is used to transfer money to the trading accounts and vice versa. The Demat account stores the shares in digital format.
  • It can be accessed from anywhere through a mobile phone so you can stay at the top of the market.

Documents required for Trading Accounts

A stock broker opens a trading account for investors. You don’t need any minimum balance to open a trading account. Nowadays you can open a trading accounts online without leaving your home. Gone are the days of hefty paperwork and long verification processes for account opening.

Trading account

Stockbrokers can open your account through a 100% paperless process in less than 15 minutes. Before you apply for a trading account make sure to keep these documents handy for quick account opening:

  1. PAN Card: PAN is mandatory for opening trading accounts. Stockbrokers will ask you for a PAN Card number and also submit its soft copy for account opening. The name and date of birth (DOB) on PAN Card should match with the name and date of birth you fill in the online account opening form.
  2. Proof of identity (POI): Documents that can be used as proof of identity are: PAN with a valid photo, Aadhar Card, Driving License, Passport, Voter ID Card, ID Card issued by Central/State Government with valid photo
  3. Proof of address (POA): Documents that can be used as proof of address are: Voter ID Card, Ration Card, Driving License, Passport, Bank Passbook (not more than 3 months old), utility bills (not more than 3 months old)
  4. Bank Details: Since the trading account is linked to your bank account, bank details are necessary to furnish. This can include Cancelled cheque, Bank Passbook copy.
  5. Proof of Income: Proof of Income is required if you wish to trade in futures and options. The list of permissible documents is a Salary slip of 3 months, Income Tax Returns, 6 month Bank statement, a statement of Demat account holdings, Net worth certificate authenticated by a Chartered Accountant.
  6. Photograph: You will need a soft copy of your passport size photograph
  7. Sign on a white paper: When you put your signature, make sure it matches the one on the PAN card.

With these items checked, you can open your trading account within minutes. There are stockbrokers who can open a free trading accounts for you with zero account opening fee and zero Demat annual maintenance charge. So don’t wait any further, get your trading account, and start trading online!

Investments in the securities market are subject to market risk, read all the related documents carefully before investing.

Guhur Muktarhttps://techbulleting.com
I am an SEO expert, writer and blogger with a strong passion for writing. I shares opinions and opinions on a range of topics such as technology, reviews, design, Android, gadget and many more...

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