Open Paperless Demat Account Online In India | My Espresso

Open Paperless Demat & Trading Account Online

https://diy.myespresso.com/app/Account/Register?sourceid=661A Demat account and a trading account give you the freedom to invest in success and prosperity. With the assistance of a renowned stockbroker, you can complete the process of opening a paperless Demat account in just a few minutes. All you need to do is fill out an application form along with the digitized versions of your documents.

Published on 10 January 2022

Most financial organizations require simple documents like your PAN Card, Aadhar Card, bank statement, passport size photo, etc., and a little bit of your time to open a Demat and trading account. With the penetration of the Internet, the entire process is now online and paperless. This means that you do not have to step out, and you can start your account opening process from within the comfort zones of your house.

A personalized relationship manager will get in touch with you to assist with the various steps as and when required. The activation of the account also does not take very long. The team usually processes the application within 24 hours, making it possible for you to start trading on the same day.

What is a Demat account?

Demat is the short form for dematerialization. Thus, it is the process of converting your physical shares into a digital form. A Demat account holds financial securities like mutual funds, bonds, shares, etc. The objective of opening a Demat is to eliminate all the risks attached to holding securities in physical form.

What is a trading account?

You need to open a trading account to execute your stock trading activities. When a company lists its shares on the stock market, you can use this account to trade the same on an electronic system.

Why do you need to open a Demat account?

With a Demat account, investors get the authorization to trade and hold their financial securities conveniently. Moreover, it lets traders access the account online using their smartphones or laptops.

It is not easy to monitor your shares in physical form. The task is tedious and time-consuming. However, when shares are converted to a dematerialized form, you can efficiently access and monitor them. The account is of great importance in several cases.

Also Read: How to Convert Physical Shares to Demat?

Why do you need to open a trading account?

Inflation reduces the value of money lying idle over time. By trading in the stock market, you can put this money to use and enjoy a favourable opportunity to grow it in due course. A trading account enables you to buy or sell securities. It is linked to your bank account, from which all the necessary liquid cash is used.

Also Read: How to Choose the Best Demat Account?

How to open a paperless Demat account and a paperless trading account?

You can open a Demat and trading account online by following the steps mentioned below:

  • Identify a depository or a depository participant.
  • Visit the website of this depository or depository participant to fill out an account opening application form. This form will require your basic details like name, address, email ID, phone number, PAN number, etc.
  • Submit soft copies of the required documents. These include your ID and address proof.
  • Complete in-person verification. This may be done through a video or an audio call, depending on the requirements of your broking house.
  • After you review all the details, you can e-sign the form using your Aadhar number. You can enter the OTP you receive on your Aadhar linked mobile number to validate.

Once your application form is submitted, you can sit back and relax. There is no need for any kind of paperwork. The entire process is digitized and can be completed online. You will soon receive the login details for your Demat and trading account. You can use the same to log in to your account, deposit funds from your bank, and start trading.

Also Read: Documents required for opening demat account

Chandresh Khona
Team Espresso

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