| Step |
Description |
| Step 1 |
There are many stock broking companies. Do your research and select the best stock broker
to suit your needs. First, compare charges, supported asset classes, user interface, security,
and other features of multiple brokers and then decide the one that meets your needs.
|
| Step 2 |
After choosing a stock broker, get in touch with the firm and enquire about the trading
account opening procedure.
|
| Step 3 |
Next, fill out the trading account opening form and furnish the required documents like proof
of identity, proof of residence, and proof of income. You can use the Aadhar card or passport as
proof of residence and a copy of your Aadhar card or PAN card as identity proof. Note that the PAN
card is compulsory for opening a trading account.
|
| Step 4 |
After submitting the documents, the brokerage will do a KYC verification by sending a
representative to your house, or you will have to do online verification.
You can also opt for the e-KYC process if you don’t wish to do it online. Note that for the e-KYC
process, your PAN should be linked to the Aadhar and your bank account. Also, your mobile number
should be the same as the Aadhar card.
|
| Step 5 |
After verification, you will be given your trading account details. After the verification
process, it usually takes 3-4 days to activate the trading account.
|