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A Demat and trading account is mandatory for trading in the Indian stock markets. You can open an online share trading account with a depository participant i.e. your broker, registered with NSDL or CDSL. Opening an online share trading account can involve a lot of paperwork but with Samco, India’s best equity stock broker, you can open the best online trading account completely paperless in less than 5 minutes!
Documents required to open an online share trading account for an individual
You shall need the following documents to open an online share trading account as an individual account holder:
- PAN Card
- Proof of Address – Any one of driver’s license, Aadhar Card, Recent Electricity or telephone bill, Voter ID card or rent/lease agreements
- Proof of Bank Statement – Cancelled check or your bank statement
- Proof of Income (Required for opening a derivatives segment account) – Latest Salary Slips, 6 months bank statement, Latest Income tax return acknowledgement, net worth certificate, etc
Steps to open an online share trading account
India is stomping unrestrained towards a cashless economy. You may be wondering how to open a trading account in this transformed digital India where there is a fervent push for more digital transactions as they are fast, secure, cost-efficient, and require limited man-power. The answer to “how to open a trading account online” is also the catch-all term “digital”.
Gone are the days when signing on papers seemed ceaseless, when you were overwhelmed with fatigue making never-ending rounds to the office of the broking house, where there was an elongated list of documents required, and you had to carry those documents of mildewed paper stacked upon each other from one desk to another.
Now you can open an online trading account with Samco Securities at the convenience of your home, and the account opening process hardly takes 5 minutes. Now you don’t need to harbour any apprehensions about how to open an online trading account. Once we finish this section of “how to open an online trading account”, then not only the tech-savvy millennial but also our past technophobic generation will feel that the entire process of opening a trading account with Samco Securities is seamless, straightforward, simple and effective. Let us look at the step by step guide on how to open a share trading account online.
Steps for Opening an Online Share Trading Account
- 1 Fill out your KYC details
- Fill out your KYC details, like PAN number, income and occupation details, address, email ID and mobile number, bank account number and nomination details.
- 2 Select the segments
- Select the choice of segments that you’d like to trade in – Equities, Equity derivatives, Currency derivative, Commodity derivatives.
- 3 Upload your documents
- Upload the necessary KYC documents for verification. The documents to be uploaded shall depend on the segments selected in Step 2. In case derivative segments are not selected, proof of income shall not be required to be submitted.
- 4 Sign your application
- Sign your application digitally using your Aadhaar. Once you complete step 1 and 2, you shall be redirected to the UIDAI Aadhaar portal and you shall receive an OTP on your mobile and email linked to your Aadhaar. Correctly entering the OTP will digitally sign your application.
Post successful completion of the above steps, your trading account will be opened and you can start trading with Samco, the best stock broker in India
Now that you know how to open an online share trading account, learn about the best online share trading platform in India.
If you have further doubts, you can also check out our video with a detailed step-by-step guide on how to open an online share trading account
Check out this Step by Step Video on How to Open an Online Share Trading Account
Documents required for opening an online share trading account for Non Individual Investors
Hindu Undivided Family (HUF) – Trading account requirements
- PAN of HUF
- Latest Bank pass-book/bank statement of the HUF
- KYC Details of the Karta of the HUF – PAN as Proof of identity, Proof of Address, Photograph
- In case, derivatives segment needs to be activated for HUF - 6 months bank statement / Latest ITR Copy of HUF
Important Points to note:
- Signature of all coparceners shall be required on POA page.
- Signature of Karta shall be required on all pages of the account opening form and across photograph on form
A HUF trading account cannot be opened online and a physical application needs to be submitted. Download the physical share trading account opening form for an HUF Account from https://www.samco.in/samco-resources
Partnership Firm – Trading account requirements
- Comprehensive financial statements for Firm for past 2 years comprising of balance sheet, profit and loss statement and Income tax returns.
- For Registered Firms – Certificate of registration
- Self-Certified copy of Partnership deed
- List of authorised signatories along with specimen signatures of letterhead of the partnership firm.
- KYC documents of all partners – PAN Card, Proof of address, photographs.
- Bank Proof of Partnership Firm – Statement should be in the name of the firm
Important Points to note:
- Signature of all partners shall be required on POA page.
- Signature of all authorised signatories shall be required on all pages of the account opening form and across photograph on form.
A Partnership firms online trading account cannot be opened online and a physical application needs to be submitted. Download the physical account online trading account opening form for a partnership firm from https://www.samco.in/samco-resources
Companies – Trading account requirements
- Comprehensive financial statements for the Company for past 2 years comprising of balance sheet, profit and loss statement and Income tax returns.
- Certified copy of latest shareholding pattern of the company including details of ultimate beneficial owner (UBO), duly certified by the company secretary/Whole time director/MD.
- KYC documents of whole time directors/at least 2 directors – PAN Card, Proof of address, photographs.
- KYC documents of promoters and ultimate beneficial owners – PAN Card, Proof of address, photographs.
- Certificate of incorporation
- Memorandum and Articles of Association
- List of authorised signatories along with specimen signatures of letterhead of the Company
- Certified copy of Board Resolution enabling investment in securities markets and authorising signatories to operate the account
- Latest Bank statement in the name of the company
Important Points to note :
- Signature of all authorised signatories shall be required on all pages of the account opening form and across photograph on form
A Companies’ Online trading account cannot be opened digitally and a physical application needs to be submitted. Download the physical account trading account opening form for a company from https://www.samco.in/samco-resources