What is a Demat Account? Why do we need this account?
A Demat account allows you to hold your shares and other securities electronically. It makes buying and selling in the Stock Market easy for users. It helps to convert your Physical shares into a dematerialized form that will be easy to maintain. You can also dematerialize your Shares and other Securities.
What are the types of Demat Accounts?
There are different types of Demat accounts available in India.
- A Regular account is available for those investors who belong to India and are trading from India.
- A Repatriable account is available for NRIs. It allows you to transfer funds abroad.
- A NON-Repatriable account is available for NRIs in which they are not allowed to transfer their funds.
At present, there are different types of Demat accounts available to choose from as per one’s financial requirements. Nowadays, the Government and Private banks other than Stockbrokers also provide Demat account facilities. Among them, we need to select the best Demat account service provider for us. There are certain things we need to consider before selecting any Demat account. You must check out which broker is genuine and has a constant good profile in the market and Annual Maintenance Charges (AMCs) for a Demat account.
IIFL Securities is one of India’s leading stock broking firms that can open a Demat account. It provides an app called IIFL Securities Online Trading available for Android and iOS users. You can download this app on your smartphone and register with your PAN card.
IIFL Securities is a trustable companion for stock market investors. This is one of the most downloaded and loved apps by investors in India. They have achieved the best trading app award. They offer research advisory services to their customers.
Why choose IIFL Securities Online Trading Demat Account?
There are many features provided by IIFL Securities Online Trading.
- They update users with the live market price, the latest trends, and news daily.
- There is no Account Maintenance Charge (AMC) for the 1st year; after that, you need to pay Rs 250/- annually.
- For Intraday Equity, Currency, and Commodity futures trades, you need to pay Rs. 20/- per order.
- The interface of this app is user-friendly. It is easy to understand and use.
- The app provides trading tips and advanced technical charting tools.
- In the tracking platform, you can get an advanced graph sheet by which you can analyze your share per min. They have a dashboard that helps to monitor the market.
- Now they come with a booking facility that helps you record all your investments.
- This application comes with an inbuilt Bloomberg TV that updates the current market situation.
- It has a dedicated customer support and Relationship Manager.
- They have the branch facility to resolve customer issues and provide flexibility to choose a central depository. (CDSL/NSDL