Need help regarding opening DEMAT account

[brshravan]

Hi,

I am planning to get a DEMAT account and get started with shares.

So i want to know which provider is cheaper and best to get DEMAT account.

I know there are already so many threads created for this... but i don't see any thread which is started in recent time. Most of the threads are started long back and i think there are so many changes now.

And as going through the forums i see the questions like "Can we trade in BSE?", "What is the brokerage?", "What is the charge and maintenance charges?", "Whether live streaming is available or not?" ...

As most of the guys have got enough experience with the share market and DEMAT account providers by now, can you please share your experiences and suggest me where to get DEMAT account and which is best now?

FYI, i am planning to start with little amount of money as i don't have clear idea of stock market yet. I may not do the treading frequently (i mean i many not do it like every month).
If any things need to know by me before opening DEMAT account and start trading, please let me know.

Thanks for your help... Thanks in advance...

 

[dalal.street]

Well, hi...

I am also in a situation similar to you...gotta decide which brokerage house to opt for....I would mostly go for SBI demat.

To give an advice,see whether you got all the requirements with u for opening a demat-A PAN card,identity proof,residence proof.These will be necessary when u open a demat account...

In the mean time,play virtual trading at sites like,
www.fourstocks.com
moneybhai.moneycontrol.com

to learn more about how the trading game goes.....develop some nice strategies...develop knowledge about well performing companies.This all will help when you get started with real trading....

Hope my advice is useful.

 

[brshravan]

Hi dalal.street,

Thanks for the reply.

I think you got all the details of SBI DEMAT account.

Is it the same one that other threads are talking about?(SBI 3 in 1 Account - trading,demat and savings account).

And what are the brokerage, annual charges and per transaction charges? And also if you can give me information on how to get this account that would be helpful. I mean can i go through some agents or do i need to walk-in to SBI branch and apply for it. FYI, i am in bangalore

 

[dalal.street]

Well, yes!!.

SBI seems good but the brokerage seems to be high compared to others...but they say there are some hidden costs in the others...so in a doubt and still can't decide....

Regarding the charges,
account opening -- nil
maintenance charges per annum --- 400 rs (350 rs, if u opt for email statements)

buy --- no charge
sell ---- no charge
Delivery - 0.50
Intraday - 0.15% or 5 paisa whichever is higher will be charged.
FNO - 0.09% (same day)
FNO - 0.05% (C/F)
Option - 50 /- per contract (one side) same day square off 100/-
Option - 100/- carry forward position

----
For opening an account ,you can either walk into a SBI branch or fill a form @http://demat.sbi.co.in/index.jsp

Someone will get in touch with you on phone but they'll say the same---please visit ur nearest SBI branch....so better go to a branch

And dude,how far did you come in learning trading strategies??

 

[dalal.street]

You can also download this PDF file:
http://demat.sbi.co.in/uploads/files/Revised-schedule-of-charges.pdf

 

[mrinal833]

hello friend,
if u need any help regarding your querries of demat account, i think i can help u. because i have a long work experience in the share market.

Regards
Mrinal
9911907943

 

[Class]

Hi Guys,
The 3 in 1 accounts with big banks are safer but usually more expensive to trade. They consist of a Bank account, Dmat account and a Trading account which usually comes with some form of online trading website or terminal. Examples of 3 in 1 accounts are with SBI, ICICI, HDFC, Kotak etc.

You can get your Dmat & Trading account with sub brokers which are much cheaper when trading. Examples such as ShareKhan and India Infoline etc.

Roughly most Dmat accounts carry an annual charge of around 4-500 rupees per year. Focus more on your ability to make a profit rather than worry about cost of accounts etc.

A good place to start is http://www.traderji.com/beginners-guide/9373-new-members-please-read.html

Also play the trading simulation games to test your trading strategies rather than with real money on the stock market. I think one is at moneybhai.moneycontrol.com

Learn first, prove your strategy through testing and only then trade starting with small amount of money you are fully prepared to lose.

hope this helps,
Class.