In the past, trading was a tedious process. Each and every transaction required a physical meeting of buyers and sellers. This led to paperwork, where each transaction was documented on a paper certificate. As word spread about the transaction, it created more paperwork which then had to be sent for recording at the registry offices. And this process kept repeating itself for every new trade that came along. This might have made you wonder, how to open demat account? But, let`s first understand what is the Demat account?
What is a Demat Account?
Demat is one of the most important steps in empowering small investors in an economy since it involves trading without any paperwork. The process provides transparency and accountability for minimising the risks associated with the fraud. The investors are provided with an electronic platform where they can trade, book their profits and manage their investments conveniently. It also comes with a host of features to help the investors make decisions on investment from anywhere and at any time.
Why does one need a Demat account?
Investing and trading have become a way of life for many Indians. With the advances in technology, the value and importance of the Demat accounts are growing by leaps and bounds, day after day. But still, most investors don’t know what exactly a Demat account is. Sometimes it’s mistaken for other things like Dematerialization or De-matting but that’s not true at all, as these words are totally different from each other. However, the fact is that an investor must have a Demat account to be eligible to trade on commodities exchanges in India or stock exchanges in any other place around the world.
Here’s A Step-by-Step Guide on How to Open a Demat Account at Angel One Online?
At Angel One, we offer a plethora of investment options. And one such option is in the form of our Demat account. A Demat account is a virtual depository where you can invest in securities. It is important to understand why trading on a Demat account could provide you with the benefit of trading and investing without the hassles of safeguarding the actual physical shares in your possession. Let us walk you through one of the easiest step-by-step guides to opening a Demat Account.
Go to the Angel Broking account opening runner.
In this step, you’ll have to enter your Full name, Mobile Number, and City as you’ll get an OTP to corroborate your phone number.
On the alternate runner you’ll have to enter many important details like Pan Number, Date of Birth, Bank A/ C Number, Dispatch Address, formerly done click “ PROCEED”
After this, you’ll have to choose a plan as you’ll be offered “ Angel i- trade prime”. Please note, that you don’t have to pay any account opening charges for angel broking.
Moving further, you’ll have to add some additional details like Annual Income, Occupation, Father’s First Name, and Father’s Last Name.
After entering the same, click “ continue”
In this step, you’ll have to upload documents like Pan Card, Personalised Cancelled Cheque, and Bank Statement for Bank Verification. This will help F&O Trading. Once the uploading is done, click “ PROCEED”
This step is simple, as it’s an ensign process, you’ll have to enter your 12- digit Aadhar Card Number. Previously done, you’ll acknowledge an OTP on your registered phone number with an Adhar card. You’ll have to enter the OTP and click on “ SUBMIT”
(Please note, it’s important to link your phone number to your Aadhar Card)
This is the Last and the Final Step. It’s In-person Verification (IPV), you’ll have to make a small videotape and upload the train which will complete your IPV step i.e tone-verification.
After uploading the videotape you’ll acknowledge display contact by saying “ Thank you, we’ve entered your IPV”
You can use a Mobile or Laptop to make a videotape which will be an easy bone.
Once you have completed all the below ways you shall accept the login credentials as your account will be activated within 24 hours.
Bravo! You have successfully completed the account opening process of Angel One.