A Trading Account is any trader’s primary account and holds all the securities that you as a trader buy and sell in a day. It is an investment account that separates your long-term securities from short-term ones. These accounts are often subject to special regulation due to this distinction.
You can place orders online or by phone,or offline using the Trading Account. This makes the trading process easier and more seamless for investors. Opening an online account requires only a few steps. Here is what you need to do:
- First, select a brokerage house. Compare all the good brokers and choose the one who will execute your orders. For determining the brokers, you can choose their brokerage charges. Every broker charges some percentage of the amount to process your orders. However, some brokers offer discounts, so you might want to consider this factor before choosing the broker.
- Next, fill out the account opening and KYC form. With the form, you also need to submit documents that verify your identity, address, and bank details.
- Once the application is verified, you are given your trading account details.
You can then immediately start trading in the market. The online Trading Account process is that simple.
What documents do you need?
When you open a Trading Account, you should submit documents that can confirm your identity, address, bank details, and more. Here are the documents required:
- Proof of identity – PAN card, passport, etc
- Proof of address – passport, driving license, bank statement, etc.
- Bank Account proofs
- Passport size photographs
How much fee do you need to pay?
When you open a Trading Account online, you need to pay the following charges:
- Account opening charges
- Annual maintenance fees
- Transaction fees
You need not open your Trading and Demat Accounts under the same institution. So, while signing up for a Demat account, you can verify if the charges include the making of a trading account. Nowadays, most brokers offer 3-in-1 Accounts, i.e., Demat, Trading, and Bank Accounts.
Disclaimer: ICICI Securities Ltd. ( I-Sec). The registered office of I-Sec is at ICICI Securities Ltd. – ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, India, Tel No: 022 – 6807 7100. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.
The contents herein above are solely for informational purposes and may not be used or considered as an offer document or solicitation of an offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. The contents herein mentioned are solely for informational and educational purposes.