About Trade Plus
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Now suppose you have decided to step into this field and give it a shot. So, the first thing you will need is a demat account. And that too with an experienced and well-known platform. Trade Plus demat account provides you a convenient and easy way to start your journey in the world of share market.
Stock trading is something that attracts a lot of people every day. Even though there are high risks involved in this segment, it does give you the opportunity of earning large sums of money in a relatively short amount of time.
And honestly speaking, who doesn’t want that, right?
A demat account basically holds your financial securities such as shares, mutual funds and other investments in an electronic format.
It is very much like a normal bank account except the fact that it holds all the non-tangible assets. Your normal bank account, on the other hand, holds more tangible assets.
Trade Plus can act as a depository participant in case you decide to open up a demat account on its platform. From then onwards, it can take care and help you in all your dealings.
What Is Trade Plus?
Trade Plus is a relatively older online brokerage platform as compared to its competitors. This company has been offering trading and commodity brokerage services in both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Based in Chennai, Trade Plus has been providing online trading services since the year 1995 and is an online brand of Navia Markets Ltd.
Apart from the online stock and commodity brokerage services, it also allows you to open up your own Trade Plus demat account.
The company is highly awarded for its performance after being registered as a depository participant with the National Securities Depository Limited (NSDL) in the year 1997.
It has been conferred the NSDL Star Performer Award in the years 2013, 2015, 2016, 2017, and 2018.
How to Open A Trade Plus Demat Account?
Trade Plus has a long-standing claim of providing some of the lowest refundable brokerage plans you can find online. While some platforms might require you to fill up the lengthy online or offline application forms, this platform asks the minimum required information.
You can create your own Trade Plus demat account very easily by following the given steps below:
- First of all, go to the home page of the Trade Plus website.
- There, on the top right-hand side of the screen, you will find an option with a downward pointing arrow which says, “My Account”.
- After clicking on that, you will be given the option of either signing into your account or register for your new account. Click on the option which says, “Open an account”.
- Then you will be guided to a webpage where you will be required to fill your name, e-mail address, and mobile number. In case you have a referral code, you can enter it to get discounts.
- Unlike some other platforms, you don’t need to fill any lengthy application forms. You just need to fill your personal details and your PAN card number.
- Also, you don’t need to fill or upload a lot of documents. Just provide your photo along with a digital copy of the PAN card, the Aadhar card and a canceled cheque for verification purposes. You just need to provide a softcopy. There is no need for you to actually send these documents offline.
- After this, you need to pay the one-time demat account maintenance charges (AMC). After being directed to the payment gateway, you will have the option of making the payment or buying a coupon of the same amount.
- Payment can be done via several modes such as e-wallets, debit and credit cards, UPI or online banking.
- The final step involves completing your online KYC and digitally signing the form. You can digitally sign the form using your Aadhar card number. In case you don’t have your Aadhar, then you will be required to sign it physically. Also, during the signing process, an OTP will be sent to your registered mobile number. So, make sure that you have your phone with you while undergoing the Trade Plus demat account opening process.
Finally, your account will be created, and the various details sent to you via e-mail. You can start using it for trading and other financial activities as soon as it is created.
|Commodity||Intraday Margin||CO/BO Margin|
Trade Plus Demat Account Login Process
Once the details filled by you and the various documents provided are verified and validated for authenticity, your Trade Plus demat account will be created in absolutely no time at all.
You can start using the account as soon as it is created and after all the details have been sent to you via e-mail.
Now all that remains is for you to log into your account with your credentials. Follow these basic steps to easily log into your account:
- First of all, go to the website of Trade Plus online broking services.
- There, on the top right-hand side of the screen, you will find an icon that says, “My Account” and is accompanied by a downward pointing arrow.
- When you click on that arrow, you will get the option of login. Click on that and fill in your details to log into your Trade Plus demat account.
Documents Required for Opening A Trade Plus Demat Account
The demat account opening process for Trade Plus requires minimum documentation. You don’t need to upload a long list of identity proofs or bank statements in order to verify your identity, bank, and other credentials.
The below-listed documents are all you need to get your Trade Plus demat account opened and started up:
- PAN card
- Your photograph
- Aadhar Card
- Canceled cheque
Trade Plus Demat Account Opening Charges
Trade Plus is one of those online broking platforms which require you to pay an additional fee while opening up a demat account in the form of account maintenance charges (AMC).
While the account opening charges are essentially zero, you will have to pay a sum of Rs 500 for the first five years in the form of a yearly fee to maintain your demat account.
Some of the other charges associated with your demat account are listed in the following table:
|Type of Transaction||Charges|
|Account opening charges||Rs 0|
|Stamp charges||Rs 0|
|Account maintenance charges (for individuals)||Rs 90 (to be paid upfront every year)|
|Account maintenance charges (for corporates)||Rs 1000 (to be paid upfront every year)|
|Transaction charges levied while purchasing||Rs 0|
|Transaction charges levied while selling||0.02 % of the transaction value (minimum of Rs 15 and a maximum of Rs 200 for every transaction)|
|Courier charges||Rs 50 per request|
Trade Plus Pros and Cons
Just like any other platform, Trade Plus aims to provide you with the best of services. Some of the pros of having a Trade Plus demat account are:
- Even though you have to pay the AMC fees you get some of the lowest brokerage schemes in both Flat and Flexi modes
- Trade Plus has a long-standing presence in the market, and with time it has updated its platforms to suit the modern customers. You get the option of trading and operating your demat account via a computer or a mobile app.
- You have more power in your hands now. You can directly invest your money in Mutual Funds.
- You get high margins of up to 80 times on both stocks and commodities.
- Trade Plus has a referral program. This means you can either refer it to your friend or get referred by someone. In the case of a referral, both the parties are eligible for certain discounts and benefits.
- The platform has high reliability and is a competent depository participant.
- The demat account opening process is highly simplified and quick. It just takes minutes to get started.
There are always some things which a platform can improve upon and things which are not exactly the best for you. Here are some of the cons of having a Trade Plus demat account:
- Many online brokers offer the option of paying absolutely zero account maintenance fees. On the other hand, in the case of Trade Plus, you need to pay a yearly charge of Rs 90 as AMC charges.
- In order to get a confirmation message of your trade, you need to pay a fee of Rs 90 per segment.
- Opting to use the trading software can shed some more of your money.
- There are fixed monthly charges of Rs 1000 for both calls and trade.
- For casual investors, Trade Plus basically ends up acting like a normal broker who charges in the percentage of the transaction.
Opening up a demat account with Trade Plus comes with its own set of advantages and disadvantages. Though you do need to pay certain extra charges which might have been waived on other platforms, you do get the advantage of a simple and experienced online broker.
Hence, it’s best to assess the various factors according to the information provided. After all, it’s your own money that you are going to invest in. So the platform better is worth it.
Some Commonly Asked Questions
Can I open more than one demat account in my name?
You traditionally open just one demat account. But in the case of Trade Plus you can open another demat account, but with the same or some other broker, offline or online.
What are the various account maintenance charges involved?
In Trade Plus, you do need to pay an annual account maintenance charge in case you have a Demat Account. This charge is Rs 90 per year for individual traders and Rs 1000 for corporates.
What is the procedure to transfer my funds?
You can transfer the funds to Trade Plus in multiple ways. This includes various payment gateways along with a check or can also easily transfer the funds online.
Is there are a minimum balance that I need to maintain?
Absolutely not. Unlike many of the normal bank accounts which require you to have a minimum balance in your account at all times, you don’t need to have any minimum balance in your Trading Bells demat account.
What are the delivery charges involved?
If you have a demat account with Trade Plus, then you do need to pay courier charges which is Rs 50 per request.