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To start trading, you need to open an online Demat account and find a Depository Participant (DP) – which could be a brokerage or a financial institution. You can also open an account by registering online at any of the credible broking firms.
When you open a Demat account with the DP, the actual shares are held by one of the national depositories</a>; National Securities Depository Ltd (NSDL) and the Central Depository Services India Ltd (CDSL).
Discount brokers and full-service brokers are the two categories of brokerage firms. A discount broker typically acts as a functionary. It carries out trades as per an investor’s instructions and offers equity and derivatives as products. Service brokers, on the other hand, in addition to the services provided by discount brokers, offer research and advisory services to investors, and a broader range of investment options such as initial public offerings (IPOs), mutual funds, and insurance.
A good quality Demat service account gives you 24×7 access to the market remotely. You can easily access your account through a desktop, laptop, tablet, or smartphone. It was difficult to achieve swift liquidity when involving physical shares and certificates. Demat accounts have solved the liquidity issues since buy or order are now executed within seconds.
Other benefits of Demat account include:
It is important to do thorough research before choosing a Demat partner. Here are some questions that may help you select the best broking firm for you:
Once you have answered these questions, opening a Demat account online with a leading broking firm is quite simple:
Investing in shares is one way to secure your financial future provided you understand the basics of investing. The first thing is to open a Demat account app with a DP – bank or broking firm that you trust.
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