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What is a Demat account and how to use it?

Until the early 1990s, trading shares and securities were done physically in the stock exchanges. Each time a share was purchased or sold, a physical certificate had to be exchanged between the buyer and the seller. But since the introduction of the demat system in 1996, it is possible to store the shares digitally in a dematerialised or ‘demat’ form using a demat account.

A demat account is similar to a bank account. Just like a bank account holds money in a digital format, the demat account holds shares and securities digitally. It facilitates a safe and convenient mode of investment.

How to open a demat account?

Opening a demat account online is easy and hassle-free. All you need to do is follow these quick, simple steps and you are all set to go.

  • Step 1-Select your stock broker:

    A stock broker (also known as a depository participant or DP) enables investors to trade on stock exchanges. Today, investors can choose from multiple online brokers, each of which offers a unique proposition. Investors should compare their charges and features, and select one that fits your needs. m.Stock is a leading stock broking platform that offers zero brokerage pricing for lifetime.
  • Step 2-Submit the necessary documents:

    You need to upload KYC documents such as a PAN card, Aadhaar card, address proof and a passport-size photograph.
  • Step 3-E-sign the application:

    Digitally sign the application using Aadhaar-linked mobile number. This is quick, easy and reduces the need for physical paperwork.
  • Step 4-Get the demat account details:

    Once approved, you will get a unique client id and a temporary password, which can be used to access your demat account.

How to operate a demat account?

  • Access your demat account on the m.Stock mobile trading app or on the web using your unique client ID and password.
  • You can see your holdings, including shares, bonds or mutual funds, in your portfolio.
  • Most brokers will also open a trading account for you along with opening a demat account.
  • You need to link your demat account and trading account with your bank account after opening the demat account.
  • Once you have linked the accounts, you can place orders for buying or selling shares through your trading account.
  • You will be able to see the debit or credit of the transaction in your demat account holding statement, and you shall receive a confirmation on your registered email id and SMS.
  • You can also get updates of the stock market, including different stocks and market indices.

What are the benefits of a demat account?

  • Safe and secure:

    A demat account ensures the safety of your investment by storing them digitally, so you don’t have to worry anymore about losing physical certificates or dealing with bogus shares certificates.
  • Reduced fees:

    With the introduction of discount brokers such as m.Stock, you can buy or sell shares with zero brokerage and no hidden charges.
  • Easy process:

    Opening a demat account is quick and paperless. You can complete the process online on m.Stock mobile application or website.
  • One-stop destination:

    With a demat account, it is possible to hold various investments, including equity shares, mutual funds, bonds etc., in one place.
  • Quick monitoring:

    You can easily monitor your holdings anytime and anywhere by simply logging in to your trading account.

Open your demat account with m.Stock and enjoy unlimited trades with zero brokerage charges and no hidden charges.

Frequently Asked Questions

A demat account is used to hold shares and securities digitally and allows you to trade quickly without any risk of losing or damaging physical documents.

Technically it is not possible to transfer money from a demat account because a demat account is used to hold shares digitally and not money. However, money can be transferred from the trading account to the bank account.

A demat account is used to hold shares and securities electronically, including shares, mutual funds, bonds, etc., and does not facilitate any cash transactions.

Yes, you can authorise a person to operate your demat account on your behalf by executing a power of attorney and submitting the same to your DP.

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