A Complete Guide on How to Open Trading Account
You cannot trade in the stock market with a Demat account. Yes, a Demat account merely stores your assets. The actual buying and selling of assets (shares in this case) takes place in a trading account. In essence, Demat, trading, and bank account are all interlinked and crucial for you to execute a successful trade. When you buy shares, money is first transferred from your bank account to your trading account. Once the transaction goes through, the shares are credited to your Demat account. This is why opening a trading account is a must if you want to trade in the stock market.
However, before you open a trading account, you must assess factors such as speed and reliability of trading platforms, brokerage and annual maintenance fees and the broker’s credibility. m.Stock stands tall on all these parameters with a legacy of serving millions of customers in 15+ countries for over 25 years. Our seamless trading platforms are quick and easy to use with best-in-class tools and features alongside bank-grade safety for your investments.
Let’s look at the step-by-step process and documents required to open a trading account with m.Stock
Documents Required to Open Trading Account with m.Stock
Identity Proof- PAN card is mandatory.
Address Proof- Aadhaar card, recent Electricity Bill, Passport, Voter’s ID, Driver’s Licence, Bank Passbook, etc.
Income Proof- Latest Salary slip, Income Tax Return, or last 6 months bank statement
Steps to Open Trading Account with m.Stock
Step 1: Enter your mobile number- To open an m.Stock trading account, visit www.mstock.com and enter your 10-digit mobile number, followed by the OTP.
Step 2: Complete e-KYC- To complete the online KYC procedure, you must enter details like your name, address, permanent account number (PAN), Aadhaar card number, and date of birth.
Step 3: Upload KYC documents- Upload required documents to complete your eKYC process. You can also login to digilocker and upload your documents with ease.
Step 4: Link your bank account- You must link at least one bank account with your trading account. This helps in quick fund transfers.
Step 5: Make the Payment- Make online payment and upon successful verification, your trading account will be opened within 24 hours. You will receive login credentials via email, which you can use to start trading in the stock market.
With a 5-minute, 100% paperless, online account opening process and zero brokerage across all products for life, m.Stock is the ideal trading partner for all your needs.