+91-22-2222-7777Opening an online share/stock trading account can be super simple and quick as it is a 3 step process, takes less than 15 minutes, the process is completely online and paperless. At Samco, a 3-in-1 account get processed – online trading account, Demat account and mutual fund investing account.
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
Step to open 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 segment only, 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 Aadhar. Once you complete step 1 and 2, you shall be redirected to the UIDAI Aadhar portal and you shall receive an OTP on your mobile and email linked to your Aadhar. Correctly entering the OTP will digitally sign your application.
FAQs on How to open an online share trading account?
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Can I open an online trading account without a PAN Card?
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No, you cannot open an online trading account without a PAN Card. This is a mandatory SEBI requirement. In case you do not have a PAN, you must first apply for a PAN Card and then apply for a Trading and Demat account.
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Why do I need to submit my bank details for opening an online trading account?
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It is mandatory to submit your bank account for opening an online trading account since all receipts and payments to your trading account shall be carried out only with your registered bank account. Also SEBI regulations mandate that these fund transfers can only be made from a registered bank account of the user. Even an unregistered bank account that is not linked to the trading account (even though it may belong to the same account holder) cannot be used for these fund transfers.
Q
If I already have another trading account from before with another broker, do I still need to submit all documents for opening a trading account?
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If you have another existing online trading account and your existing stock broker has updated your information on the KRA registry (offered by CDSL or NSDL), then you shall be classified as a KRA registered investor. In such cases, you need not submit your PAN, Proof of address and Photo for opening the account. You shall only need to submit your Bank details and income proof in such a case.
Q
What if my Aadhar is not linked to my mobile? Can I still open a trading account online?
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In case your Aadhar is not linked to your mobile or email, then you shall not be able to complete an Aadhar E-sign. However, you will still be able to digitally sign your application. After digitally signing your application, you shall be required to collect a single page acknowledgement and then your account shall be processed.
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Can Non Individual entities open an online trading account?
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No, non-individual entities cannot open an online share trading account and they shall be required to open an account by submitting a physical form. You can download a physical form from https://www.samco.in/samco-resources
Q
Can a Joint Demat account be opened online?
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No, unlike as in Demat account, there is no concept of joint trading account. A trading account has to be operated by a single holder only.
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What happens after I complete the application and sign the online share trading account opening form?
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After your application is completed, the same shall be verified by Samco’s account processing teams and once your application is verified, you shall receive a welcome kit with your account credentials. You shall also receive instructions on how to access your account and initiate transactions. In case you do not receive the same within 48-72 hours of opening the account, please raise a support ticket at www.samco.in/support and we shall get it sorted.
Q
Is it compulsory to open a Samco Demat account along with an online trading account?
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It is compulsory to link each trading account with at least one Demat account held by the individual. For operational efficiencies, it is recommended that a SAMCO Demat account be opened along with an online trading account. In case you link another Demat account with your Samco trading account, you shall not be able to seamless sell your shares from your existing Demat account since your Samco trading account will have no information with regards to the same.
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