How To Open Demat Account

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How to Open Demat Account
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What is a Demat Account
Before you start trading, you have to open a
trading account with a Depository Participant or
DPs, which can be a bank, a brokerage firm or a
financial institution. Once you are through with
the process/ formalities of opening an account,
you are given a Demat account number, which is
the key to your trading activities. All the
securities you buy in the market are credited to
this acc. Demat account offers you a secure and
convenient way to keep track of your securities
and investments online. You can open your Demat
account in a single account name, joint account
name or multiple account names.
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How does a Demat account work?
Demat account is like a bank account in which
instead of money, the shares and securities you
buy are kept in dematerialized form. In the past,
the investors were given the physical possession
of shares, but now the shares are just credited
in the Demat account of the investor. The Demat
account number has to be quoted with every
transaction you make, which is a mandatory
process for placing a market order. You can
access this account anytime you want with a
Transaction and an internet password.
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Steps to open a Demat Account
1. Look for a Depository Participant The first
step to open a demat account is to select a
suitable Depository Participant (DP). A DP could
be a bank, a broker, or an online investment
platform. Make sure that the DP you choose
fulfills all the necessary criteria and matches
your requirements. To compare the various DPs,
you could look for the list and other details on
the CDSL and NSDL websites.
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2. Fulfill the KYC formalities To register
yourself with the DP and to open a demat account,
it is very important to fulfill the KYC (Know
your Customer) formalities. KYC formalities
include submission of a duly filled application
form along with the copies of required identity
proofs.

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3. Verification Once the application form is
submitted along with the KYC documents, you might
be required to be present in person at the DPs
office in order to verify the authenticity of the
KYC.
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4. Acquire Beneficiary Owner Identity
(BOID) Upon the processing of the application
at the DP, a unique Beneficiary Owner Identity,
commonly known as BOID, is generated. You need to
acquire this BOID in order to make transactions
and access your demat account in the future.
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What does IIFL Demat and Trading account offer?
Single login for everything Nothing is better
than being able to view your entire Portfolio at
one place. Trade in Equities, Commodities,
Currencies and Mutual Funds, on a single trading
platform. Access to all market segments of BSE,
NSE, MCX NCDEX
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Next Generation Solutions Real time streaming
quotes and high speed order execution and
confirmation ensure you execute your trades at
the desired market level. IIFL Markets app,
Trader Terminal and many such solutions empower
you to trade like none other.
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• Expert research recommendation
• Enjoy daily/weekly reports, portfolio analysis
  along with IIFL View
• (Buy/Sell/Hold/Accumulate) on over 500 stocks.
  Get access to in-depth company reports, sector
  and industry reports and real time news updates

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Things to Note

• The DP may revise the charges by giving 30 days
  notice in advance.
• If demat account is closed in between of the
  year, annual maintenance charges shall be
  levied proportionately for each quarter.
• There is no minimum number of shares that have
  to be kept in the demat account.
• No charge is applicable for closure of DP
  account.
• No charge for transfer of holdings from one DP
  to another DP, if investor is not satisfied with
  the services of your existing DP.

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About Us

• IIFL is a financial services conglomerate which
  was started by a group of passionate
  entrepreneurs in 1995. The genesis of IIFL lies
  in the power of dreaming big and believing in
  your dreams.
• IIFL was the pioneer in the retail broking
  industry with its launch of 5paisa trading
  platform which offered the lowest brokerage in
  the industry and the freedom from traditional
  ways of transacting. Our strength has been to
  continuously innovate and reinvent ourselves

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