What is a Demat account?
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Stock trading is something that attracts a lot of people every day. This is because it gives 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? 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. Trading Bells demat account provides you a convenient and easy way to start your journey in the world of share market.
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.
A demat account is essential if you want to start trading. Hence, the creation of a demat account is of paramount importance.
NSDL and CSDL are the two depository organizations that maintain all the demat accounts in India. Now you need a depository participant that can act as the link between you and the depository. Trading Bells can help you in just that.
About Trading Bells
Trading Bells is an online share and commodity broker which provides you with great trading experience and that too at low and affordable costs.
Headed by a team of IIT alumni and competent chartered accountants and its parent company is Swastika Investmart.
One of the best things about Trading Bells is that it is technologically quite advanced.
While this is expected since it is headed by a team of IIT alumni, what it also does is use this technology to provide simple, fast and reliable solutions.
This is a good thing in the sense that many a time, the companies which can offer great services might not be technologically advanced and might not present themselves too well.
Trading Bells aims to offer trading services related to stocks, commodities, and currency at a lower cost as compared to many other online discount brokers. You can easily create a new Trading Bells demat account and start trading.
Trading Bells Margin or Leverage
How To Open A Trading Bells Demat Account?
Your Trading Bells demat account can easily be created by following the simple process online. Follow the given steps to conveniently open your demat account:
- Go to the homepage of the Trading Bells website.
- On the menu bar at the top, you will find an option which says, “Open an Account”. Click on that to begin applying to create your Trading Bells demat account.
- First of all, you will be required to fill up an online application form which entails the Know Your Customer (KYC) process. This should not take more than 15 minutes and requires you to fill the basic details such as name, address and other personal things along with your normal bank account details. After this, you will be required to digitally sign the account opening form with the help of your Aadhar card number. After you have completed the whole process, your account will be created in just a short while.
- You also need to pay a certain amount as the account opening charges to proceed with opening your account.
- Due to a large number of fraud cases happening nowadays. Trading Bells pays special attention to your safety and authenticity to the account. After you have filled the form and paid the account opening charges, you will be video called by the discount broker for the opening of your Trading Bells demat account. In that video, you will be required to show the original documents which will be proof that you actually own them. Also, you will be required to say certain things that entail things related to the opening of account.
- After this, your account will finally be created
Just note that in case you plan on selling any securities, you will be required to fill in a Power of Attorney (POA) form and submit it to the company in hardcopy format. This is fully in accordance with SEBI’s guidelines.
No matter which procedure you adopt for opening up your Trading Bells demat account, you need to have some vital documents that you definitely need to submit or upload in order for the KYC to be completed.
Here are the documents which you need to have in order to open up your demat account:
- PAN card
- Address proof. This can be your Ration Card, Telephone Bill, Electricity Bill, Property Tax, Receipts, Passport, Bank Passbook, Voter’s ID or Aadhar.
- Your normal bank account number and IFSC code.
- Your photo
Trading Bells Demat Account Login
After you have completed all the formalities related to the application form for opening up your demat account, the account will be opened up in a really short while.
After this, you just need to go and log into your account to start trading.
Follow the given steps below to go and log into your account:
- First, you need to go to the homepage of the Trading Bells website.
- There, on the top right corner of the screen, you will find an option which says “Sign In”.
- Here, you will have the option of logging into your Trading Bells JusTrade account, the Back Office account or the Mutual Funds Account. In case you are using JusTrade Pro or JusTrade mobile app, then you will be asked to log into your account before you start using the app or software.
Types of Trading Bells Demat Account
Trading Bells has kept it rather simple when it comes to the types of accounts which can be opened.
Unlike some of it competitors which offer various combinations of the trading accounts, Trading Bells offers just the simple stock trading and demat account services.
This is keeping in mind the accounts which are used the most. Hence the most focus has been given to these accounts.
Trading Bells Demat Account Opening Charges
While opening up a Trading Bells demat account you need to pay an account opening fees of Rs. 750. This is a onetime charge inclusive of all taxes. Also, it covers both equity and commodity.
Also, there is an annual account maintenance fees (AMC) depending upon the type of account you have opened.
In case you have opened a Trading account, then there is no annual maintenance fees (AMC).
But, if you have experienced the other type of account, i.e. a Demat account, then you need to pay an annual maintenance fees (AMC) of Rs 300 per year.
The various account opening and maintenance charges along with the fees, commissions and other things are listed below.
|Account Opening Charges for a Trading Account||Rs 300 for equity and Rs 200 for commodity|
|Account Opening Charges for a Demat Account (Including stamp charges which are payable upfront)||Rs 150|
|Annual Maintenance Charges in a Trading Account|
|Annual Maintenance Charges in a Demat Account for individuals||Rs 250|
|Annual Account Maintenance Charges in a Demat Account for corporates||Rs 750|
|Transaction charges when you buy (credit)|
|Transaction charges when you sell (debit)||Rs 15 flat for every debit transaction|
Trading Bells Trading platform
Providing just one way to trade would simply be boring. Also, it might not be the most convenient option to choose from.
Therefore, Trading Bells provides you with not just one or two but three different ways of trading.
This enables you to not just trade while sitting stationary on a desk, but you can also trade on the go by using the app.
Here are the different types of trading platforms which Trading Bells has to offer:
This platform is for people who want to do some serious trading and mostly carry out trading activities while sitting at the desk or just sitting in one place.
This comes in the form of Justrade Pro which is a software that can be downloaded and used for all your trading activities.
The Justrade Pro is easily available from the broker’s website and can be downloaded ad used easily by both a 32-bit system and a 64-bit system.
As the name suggests, it contains all the pro features which you can possibly want while trading.
This platform is the ideal for bulk trading and is equipped with various charts and analytics tools to help maximize your profits.
Now this one is for people who are into the trading business very casually. Maybe you want to just start exploring the trading arena and are not looking for something very serious.
In such a case, this platform can be your ultimate companion. This platform is offered to the customers by the Swastika Investmart which is the parent company of Trading Bells.
It comes in two forms:
- Justrade Browser
- Back Office
If you have a stable and good internet connection, then the two can be logged in and accessed easily via your web browser.
Even though this platform is used by casual traders, it does not mean that it doesn’t contain the essentials features provided for trading.
Trading Bells offers you a mobile-friendly option also. This enables you to travel on the go and can remove the need for sitting in one place and working on a laptop.
This option gives you a simpler way to trade in case you cannot carry your laptop, or it is too much of a hassle.
The JUSTRADE mobile trading app can easily be downloaded from the play store or the app store on any device so that you can trade in peace.
Here, you can see the various intra-day and industry trading charts along with various research reports and important news.
Some Commonly Asked Questions
Can I open more than one trading account in my name?
No. While you cannot open more than one trading account in your name with the same broker, you can register the account with a different broker.
Can I open more than one demat account?
Yes. Unlike trading accounts, you can open another demat account with the same broker.
What are the various account maintenance charges involved?
In Trading Bells, you don’t need to pay and annual account maintenance charged in case you have a Trading Account. But in case you have a demat account, then you need to pay an annual fees of Rs 300.
What are the intra-day trading charges?
If you are carrying out intra-day trading which involves buying and selling of shares or commodities on the same day, then you need to pay a fee of Rs 20 for every trade. In case of commodities, the charges for commodities future is also Rs 20 per trade.
Is there are a minimum balance that I need to maintain?
Absolutely not. Unlike many of the normal bank accounts which always require you to have a minimum balance in your account , 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 or trading account with Trading Bells, then you don’t need to pay any fees for equity delivery trade.