A Demat account is compulsory for investors to hold securities purchased through a trading account. A trading or investment account can only purchase or sell securities. It cannot hold stocks, bonds, derivatives, and other securities for a given period. A Demat account converts the purchased securities into digital form and stores them for as long as you like. With the help of Demat accounts, investors do not have to carry physical certificates of their purchases. To start your investment journey, you must find a Demat account provider. Since there are multiple options, choosing a reliable Demat account provider might be challenging. Let us discuss the best dematerialisation account in India.
Who Offers a Demat Account?
Investors must understand that anyone cannot offer a Demat account. Only an organisation registered with SEBI can offer Demat accounts to investors. You can seek help from a depository participant to open a Demat account in your name. It is crucial to note that a depository participant cannot help you open trading account or investment account. Both trading and Demat accounts are essential for your investment journey. With only a Demat account, you will limit investment opportunities. For the same rationale, you can choose a stockbroker like Religare Broking for opening both Demat and trading accounts. Stockbrokers usually offer 2-in-1 trading and Demat accounts. Both accounts are interlinked with one another for the effortless transfer of securities.
How to Choose a Reliable Demat Account in India?
You cannot pick a stockbroker randomly and open a new Demat account. You must consider several factors before selecting a Demat account, such as:
- Account Charges: You will be asked to pay Demat account charges. While there are annual charges like maintenance, the stockbroker might also ask for dematerialisation, custodian, and transaction charges. Choose a Demat account that comes with minimal charges.
- Stockbroker’s Reputation: You must consider the reputation of the Demat account provider. Choose an experienced stockbroker that has been offering trading services for many years.
- Technology: Stockbrokers often embed trading, and Demat accounts into a trading platform. Do check the effectiveness of the trading platform before making a decision. Choose an easy-to-use trading platform that allows you to learn investment basics quickly.
- Security: The main moto of choosing Demat accounts is to prevent securities from theft and damage. The Demat account must be protected via password, two-factor authentication, and other techniques.
Choose the Best Demat Account in India
Among all the options, Religare Broking offers the best Demat account for investors. At present, you can get Demat and trading accounts for free with Religare Broking. Investors can choose the One Plan for zero brokerage on delivery and non-profitable intraday trades. For options trading, you will pay a brokerage of INR 5 per lot. Investors can also choose the Elite Plan for the brokerage as low as one paisa. Investors will also receive personalised trading services with the Elite Plan. Religare applies minimal charges on its customers for Demat and trading accounts. You will have access to a wide range of financial instruments by opening trading account and Demat accounts with Religare Broking.
In a Nutshell
Choosing the best Demat account might be a hassle with so many options. Luckily, investors can open trading, and Demat accounts for free with Religare Broking. It also applies minimal maintenance, brokerage, and other Demat account charges. Select your dematerialisation account right away!
