Zerodha Account Opening: Things to Consider Before Opening Trading and Demat Account
Thinking of jumping in the stock market? Do you have a demat account? If you are thinking of investing your money in the stock market and you are new in this field, it might be possible that you don’t know what a demat account is. A demat account is required for the traders in the stock market. It will hold your shares in the electronic form. There are lots of service providers who provide demat account opening services in the stock market. One of them is Zerodha Account Opening services. All of them are not good; it might be possible that you get trapped or scammed by the felonious brokers. So, you have to take care of many things, and use your knowledge to find a better service provider.
Here are the things you should keep in your mind before choosing a broker or a company for your demat account opening:
1. Make sure that the broker you are choosing for your account opening is registered with SEBI (Security Exchange Board of India). It helps you to ensure that the broker is genuine or not. If any scam or fraud happens to you, you can register your complaint against the broker with SEBI, and they will take action against the broker.
2. Make sure your broker has their own depository services as it can prove out to be beneficial for you. If you have any problem with your demat account, then you can directly contact your broker, otherwise, you have to contact with other depository service provider who is tied-up with your broker.
3. Make sure your brokerage charges are less. Higher brokerage charges can eat up all your profit. It might be possible that you have to bear some losses due to high brokerage charges. You can get a list of the brokers who provide their service at low brokerage rates. For instance, Zerodha account opening service provider charges you at the rate of 0.01% or Rs. 20 per trade.
4. Make sure that your broker offers you an easy-to-use trading platform and complete technical support. These things play an important role in trading, and help you to increase your overall profit.
5. Make sure that there is no server failure and order execution speed is fast. In case you are trading with a big amount of money and there is any server failure or execution speed is not good; you may have to bear a heavy loss.
If you want to save yourself from unlawful brokers, and you do not know from where you should start, it’s recommended to create a list of the brokers who provide account opening services. Check and compare their brokerage charges & features, and choose one for your account opening. If you are looking for a law abiding broker, Zerodha account opening service provider is one of the best service providers. For more information about the various service providers, explore the website here: http://niftyfriend.com/.