There are two probabilities for an individual when it comes to dealing in the market. One can either go for trading or invest in the shares of some of the companies that are listed on any of the stock exchange. For the people who love to have some more income additional to their regular sources, trading or investing in the share market can be a good option. However, if one is new to this segment, it is necessary that he checks with all the benefits as well as limitations to have a fair idea about the dealing in the market.
Before going ahead in the market in any of the fields, whether it is trading or investing, one needs to have at least one demat account. It is mandatory for all those who want to deal in this market by the market regulators. needs to find the best demat account in India before beginning the trading or investing in any segment in the market. Though this account can be opened by any broker or company that deals in the market, one needs to go for the one who can offer the best deal on it. Here one needs to know that in some have to pay annual maintenance charges for this account while in some never needs to pay anything, which means that the account is free for lifetime.
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Why open an account?
The account opening is made compulsory by the share market authorities. This account is like a bank account only where one needs to park his shares which may be purchased for a short or long term. There are different companies that are authenticated to fill the application form and get the same to the concerned companies for the opening of demat account. To get the best demat account in India, one needs to research a little and then apply to any company.
The formalities of opening an account:
To open a demat account, one can visit a broking company or go to a broker. Here one can find the application form and list of the documents that he needs to provide. This is an offline system of account opening for demat. One needs to provide the documents such as PAN card, Adhar card, Driving License, Passport or government ID card. There are also address proofs from which one needs to provide at least one document of the current resident. The client also needs to offer a cancelled cheque to have the banking details.
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The authority of opening a demat account is there with CDSL and NSDL only. The broker or the broking company needs to submit the documents to any of these authorities to open the account. It is only the demat account in which one can park the shares for the long term. In case one wants to trade or sell shares from this account, he needs to transfer them from demat account to trading account first. Hence it can be termed as an account as good as a bank account only.
