Opening New Demat Account

Opening New Demat Account

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Deal Cadet
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Hi Guys,

This topic may have been covered before but I could not find relevant post.

I wish to open a new demat+trading account.

I would not be trading much and primarily need it for applying to IPOs.. Private banks are offering services but their annual charges run into about a 600-1000 Rs annually. Economically which would be best suited one for me?

TIA

32 Comments  |  
11 Dimers
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Deal Subedar
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Prostock can serve the purpose. as they are no annual maintenance charges for the Demat account.

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Deal Subedar
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Edelweiss can give..

Free at first for annual maintenance chargea

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Deal Cadet
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gotrajk wrote:

Prostock can serve the purpose. as they are no annual maintenance charges for the Demat account.

Some site says I can’t apply for IPOs through ProStock.. https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif

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Deal Subedar
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Sharekhan ac free for 1st year (Rs. 400 AMC second year onwards)

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Deal Cadet
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taujipanipat93 wrote:

Edelweiss can give..

Free at first for annual maintenance chargea

No AMC is charged at the time of account opening. AMC charge is free for the first year, an amount of Rs. 500/- + Taxes will be charged from 2nd year onwards.
Sir, please find below the details of Standard brokerage charges
- Delivery – 0.30%
- Intraday & Future – 0.03%
- Options Premium Rate – Rs.75/- per lot
- Currency Future – 0.02%
- Currency Options Premium – Rs. 20/- per lot

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Deal Subedar
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mayank21712 wrote:

Some site says I can’t apply for IPOs through ProStock.. https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif

They say right. So once you have demat account opened by any provider (zerodhar, prostock etc). You take that demat account number and apply through netbanking of most of banks. For example SBI, kotak, hdfc, idbi, bob, union bank. if you have account with any of them or any other bank you can apply using demat account number u have.
its known as ASBA.

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Deal Cadet
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gotrajk wrote:

They say right. So once you have demat account opened by any provider (zerodhar, prostock etc). You take that demat account number and apply through netbanking of most of banks. For example SBI, kotak, hdfc, idbi, bob, union bank. if you have account with any of them or any other bank you can apply using demat account number u have.
its known as ASBA.

only if they are linked with the same demat acct..

Hamster
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JJrocks wrote:

only if they are linked with the same demat acct..

one can apply from any bank account for ipo. only dp id and pan card is required for applying.

Hamster
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prostocks is good option with rs. 1000 advance, refundable and lifetime free demat in case you buy and sell more than 20 times a year. otherwise zerodha is a good option.

zerodha has no broking charges for delivery purchase and sell. they have own demat which charge 300 pa.

prostocks charges 15 for buying and 15 selling. if there are 10 buy and 10 sell or 15 buy and 5 sell than your broking will be 300 which is equal to 300 pa of zerodha.

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Deal Cadet
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marketdimer wrote:

prostocks is good option with rs. 1000 advance, refundable and lifetime free demat in case you buy and sell more than 20 times a year. otherwise zerodha is a good option.

zerodha has no broking charges for delivery purchase and sell. they have own demat which charge 300 pa.

prostocks charges 15 for buying and 15 selling. if there are 10 buy and 10 sell or 15 buy and 5 sell than your broking will be 300 which is equal to 300 pa of zerodha.

Market dimer ne sb kuch bata diya https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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Deal Subedar
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JJrocks wrote:

only if they are linked with the same demat acct..

Not necessarily. I am using SBI to apply for IPO for demat opened with Prostock.
anyways if you go with zerodha, prostock or any other provider, your demat account will be opened with NSDL or CDSL.

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Deal Subedar
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JJrocks wrote:

bro rksv/zerodha r the cheapest n reliable brokers @mayank21712

Zerodha charges AMC charges for demat. Don’t know about rksv.
But prostock doesn’t charge anything for demat. So for OP it will be cheaper as he is not going to do day trading as he mentioned.

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Deal Subedar
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mayank21712 wrote:

No AMC is charged at the time of account opening. AMC charge is free for the first year, an amount of Rs. 500/- + Taxes will be charged from 2nd year onwards.
Sir, please find below the details of Standard brokerage charges
- Delivery – 0.30%
- Intraday & Future – 0.03%
- Options Premium Rate – Rs.75/- per lot
- Currency Future – 0.02%
- Currency Options Premium – Rs. 20/- per lot

Yes.. But if u request to your relationship manger..

Yes.. But if u request to your relationship manger..Then they reduce brokerage
delivery from 0.3% to 0.2%
And intraday- 0.03% to 0.02%

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Deal Cadet
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gotrajk wrote:

Zerodha charges AMC charges for demat. Don’t know about rksv.
But prostock doesn’t charge anything for demat. So for OP it will be cheaper as he is not going to do day trading as he mentioned.

Yeah right.. As Long as I can apply for IPO using NetBanking and dp id, prostock looks like the way to go.. I wouldn’t buy too many stocks throughout the year.

Giphy 1
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Also, No DEMAT charges either AMC or for opening in Upstox (Previously RKSV).

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Deal Cadet
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soccergiants wrote:

Also, No DEMAT charges either AMC or for opening in Upstox (Previously RKSV).

RKSV Brokerage Charges 2017

Trading Account Opening Charges (One Time): Rs 150
Trading Annual maintenance charges (AMC): Nil
Demat Account Opening Charges (One Time): Nil
Demat Account Annual Maintenance Charges (AMC): Rs 150 Per Year

In fact in one of the forums rksv has replied saying account opening charges are 350+ST
The comment was posted this month only..

www.chittorgarh.com/stockbroker/rksv-securiti...3/

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Deal Cadet
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Prostock – 1000 Rs Ontime AMC Which is refundable.Angel broking also is agood option if u can negotiate the brokerage coz the also have zero AMC if u pay them one time AMC around 2500.

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Deal Newbie
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I too want to open demat account but I am newbies
How to trade ?

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dada2015 wrote:

I too want to open demat account but I am newbies
How to trade ?

Go to couple of Trading account providers near where you stay just to get an idea about demat account and trading account.Do not give them your number or they will pester you with calls and then you can open an account with Discount Brokers like Upstox / Zerodha / Angel.

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mayank21712 wrote:

Thanks for your guidance guys.. I opened account through prostocks and also applied for Cochin Port through ASBA netbanking..

@gotrajk @taujipanipat93 @JJrocks @marketdimer @park @bonny42 @soccergiants

Bro how do you rate Prostocks platform is it good and kindly let us know if you recieve shares in Cochin Shipyard.The give preference to new account holders when alloting shares wanted to check this theroy https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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park wrote:

Bro how do you rate Prostocks platform is it good and kindly let us know if you recieve shares in Cochin Shipyard.The give preference to new account holders when alloting shares wanted to check this theroy https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

I don’t like their platform UI. Not that I want to trade much using that UI..

Regarding second point, how does registrar know if the account is new or not?

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Deal Newbie
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park wrote:

Go to couple of Trading account providers near where you stay just to get an idea about demat account and trading account.Do not give them your number or they will pester you with calls and then you can open an account with Discount Brokers like Upstox / Zerodha / Angel.

Discount broker ? How they give discount ?

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Deal Newbie
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Finvasia….no brokerage .no AMC ..for lifetime..

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Deal Cadet
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park wrote:

Bro how do you rate Prostocks platform is it good and kindly let us know if you recieve shares in Cochin Shipyard.The give preference to new account holders when alloting shares wanted to check this theroy https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

CSLIPO
Alloted: NIL
Refund date 10/08/2017

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Deal Cadet
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mayank21712 wrote:

CSLIPO
Alloted: NIL
Refund date 10/08/2017

I Did not get allotment(old account) but have a friend who also has a new account and trying for the ipo second time as he did not get in dmart the first time.Second time CSL he got https://cdn2.desidime.com/assets/textile-editor/icon_rolleyes.gif

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Deal Cadet
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dada2015 wrote:

Discount broker ? How they give discount ?

Kindly visit any branch they will explain you

Missing