The following article gives step by step information on how to open a Demat and trading account at Zerodha. This is a relatively new and upcoming stock broker in India. Here at traderspit we give you an unbiased review of Zerodha and its features, services and offers.
There are many ways to open a demat or trading account in India. You can apply for the same on your own or you can use the services of a broker like Zerodha. However, Zerodha charges a nominal sum along with a nominal KYC (Know Your Customer) fee for the same. This blog will explain the process of getting a Zerodha account and trading it.
If you are looking to start investing in some stocks, and you have some funds lying around, you can open a demat account at Zerodha. However, before you can open one, you first need to check whether you have got any brokerage accounts already. If you do, you can skip this part.. Read more about how to open zerodha demat account and let us know what you think.How do I open a trading account with Zerodha? (Updated: February 2021): In this article, we describe the exact steps for opening a trading account and a trading account with Zerodha. At the end of this article, you will have an active demat account at Zerodha, provided that you prepare all personal documents and follow the proper procedure described in this post.
Anyway, before I continue with the steps in this article, let me tell you how and why I opened my trading account and trading account with Zerodha. When I started investing, I used ICICI direct as my stockbroker to open my trading account and trading account. Although I was satisfied with the features and platforms offered by this airline, I soon discovered that ICICI Direct is very expensive.
The profits of brokers have often been wiped out by ICICI Direct. The worst part was overpaying brokers even when you sold the shares at a loss. I then asked my friends who use SBI Smart and HDFC Securities for their opinion. They also both paid high brokerage fees and advised against contacting them. Finally, after much research, I opened my second deposit and trading account with ZERODHA.
Zerodha is the largest discount broker in India with over 30 lakh customers. The fees offered by Zerodha are minimal and the company’s trading platform is also fast and user-friendly. The brokerage fee is 0.03% or Rs 20 per executed order, whichever is lower, irrespective of the number of shares or their price.
This is much cheaper than ICICI direct, which charged a brokerage fee of 0.55% on each share transaction. If you buy shares worth Rs 50,000 directly from ICICI, you have to pay a brokerage fee of Rs 275 (Zerodha, on the other hand, charges a maximum of Rs 20 per transaction). Moreover, this amount is charged on both sides of the transaction (buying and selling), so you have to pay a total of Rs 550 for all transactions (which is overpriced compared to Zerodha).
In short, if you are planning to enter the world of trading (or even if you are already a member), I recommend you to open an account at this discount broker Zerodha to save a lot of brokerage fees.
For starters, here’s a direct link to the Zerodha account opening page.
- Why open a securities account with Zerodha?
- How do I open a trading account with Zerodha?
- How do I open an online account with Zerodha?
- Offline account opening procedure
- What should I do after opening a Zerodha account?
- Final thoughts
Why open a securities account with Zerodha?
Zerodha is India’s largest stockbroker in terms of daily trading volume, growth and active client base. It is one of the most technologically advanced and accessible stockbrokers. Zerodha has over 3 million customers and accounts for over 15% of daily trading volume on NSE, BSE and MCX. Even in terms of the number of active clients trading on the NSE alone, it has surpassed all other new and traditional brokers.
Zerodha, founded by Nitin Kamat in 2010, was named Startup of the Year at the Economic Times (ET) Startup Awards 2020 in August 2020 and is among the winners that have shown the potential to become blue chip companies. You can read the full article here. Ironically, Nitin Kamath was named by Economic Times in 2016 as one of the top 10 businessmen to watch in India for pioneering and developing discount brokerage in India. Here are some of the notable awards Zerodha has received recently:
– ET Startup of the Year (2020)
– National Stock Exchange (NSE) Retail Brokerage of the year 2019 (& 2018)
– Outlook Money Retail Brokerage of the year 2017
– Ernst & Young Entrepreneur of the Year (Startup) 2017.
Benefits of opening a dematerialized account with Zerodha : If you still don’t know why you should open a trading account and a trading account with Zerodha, here are the main reasons:
- 0 Rupees (FREE) for delivery transactions of shares.
- Rs. 20 or 0.03%, whichever is lower, for each order executed for intraday and all other trades.
- Same prices for all exchanges
- No prepayment or turnover obligation
- Z-Connect, an interactive blog and portal for all your questions
- More than 1.5 million satisfied customers of a well-known brand
- Over 300 dedicated support staff who respond quickly to your questions by email or phone.
- Trading, charts and analysis – all on a next-generation Pi platform.
- Minimalistic, intuitive and responsive web trading platform for Kite
- The average occupancy rate of the price range of 55% versus the industry average of 70% represents a lower risk.
Also read : Zerodha Review – Discount Broker in India – Brokerage, trading platform and more.
How do I open a trading account with Zerodha?
Documents required to open a securities account and trading account with Zerodha.
Here are the documents required to open a trading account and trading account with Zerodha. I recommend that you make electronic copies of all these documents before you apply for the account, as you will need to upload them during the account opening process:
- PAN CARD (The card is not valid without the sign, see link below).
- Aadhar card (with a mobile phone number attached)
- Confirm the bank details: Photo on the front of the cash book, scanned copy, statement or cancelled check. If you submit a cancelled request, your name must be on it, only then will it be accepted.
- Your signature on a piece of paper (photo or scanned copy).
- * Proof of income (optional): Proof of income is required if you want to trade in F&O or commodities. Acceptable documents include a recent pay slip, bank statements for the past six months or an ITR.
Zerodha Account Opening costs
These are the costs for opening an account with Zerodha
- Dematerialized account and commercial account: Rs. 200
- Goods Invoice : Rs. 100
If you want to trade both stocks and commodities, you have to pay an account opening fee of Rs. 200 + 100 rupees = 300 rupees. However, if you only want to trade shares, you only need to pay Rs 200.
There are currently two ways to open a trading account and a trading account at Zerodha:
- Online procedure
- Stand-alone method
With the online method, you can open your Zerodha account in 15 minutes if you have all the necessary documents.
However, with the online method, you must authenticate via OTP to complete the electronic signature process. So make sure your number is linked to your Aadhaar. Otherwise you will not be able to complete the process. If the number associated with your Aadhaar is inactive or you do not have a number, you can go to the nearest Seva Kendra Aadhaar to renew it.
Anyway, if you don’t want to use your Aadhaar, you can always open your account throughoffline . However, I would recommend opening online as it is faster and easier.
In business, you need to be familiar with technology and know how to do business online. All transactions (buying/selling) etc. that you make in the future after opening an account will be done online and through modern trading platforms. They assume you have technical knowledge. So start with the online route, because in the future you will not be able to avoid the digital route.
How do I open an online account with Zerodha?
Short answer for opening a Zerodha account
I will first briefly explain how to open an account with Zerodha, and then I will give you step by step instructions.
For starters, here’s a direct link to the Zerodha account opening page.
On this page, the first step is to register with your mobile phone number and verify your OTP. Then you need to enter your PAN, bank account, Aadhar verification and personal details to continue with the registration process.
All instructions are clearly explained at each step on the opening page of the account. If you can read and follow the instructions properly, you won’t need to read this entire post. Just go to the account opening page, follow the instructions, upload your documents and your account will be opened.
If you face any problem in opening an account online, you can also contact Zerodha at – 080 4913 2020.
Brief introduction to DigiLocker
When you open an online account with Zerodha, you will be asked to log into a DigiLocker account. However, if you are not familiar with DigiLocker, I will tell you about it.
I was quickly impressed with the concept of DigiLocker when I first heard about it in early 2017. DigiLocker is an online service provided by the Ministry of Electronics and Information Technology of the Government of India under the Digital India initiative. I still have this app on my phone and I’ll tell you why.
If you live in the city, you often find yourself in a similar situation. They would go shopping at the nearest store or give someone a ride. And in your haste, you forgot your wallet. This means that you do not have your driving licence or registration with you. If you are stopped by traffic police, it can be difficult to explain why you are driving without papers.
However, if you have the DigiLocker app installed on your phone, you can show your driver’s license and vehicle registration from within the app itself. Motorists can show their documents at the IWT during road checks, as mandated by the Indian government. It’s also safer and more acceptable to traffic police than the camera shot you keep in your phone’s gallery.
In addition, all other important documents like Aadhar card, Pan card, driving license, voter card, education certificate, etc. can be stored in the DigiLocker app.
In general : If you don’t already have a DigiLocker account, I highly recommend opening one and downloading the app on your phone. This way you can keep all your documents safe.
This account is also required at the time of Aadhar verification while opening a Zerodha account.
Detailed process to open an account with Zerodha – Steps to open an account with Zerodha online
Now that you have a basic idea on how to open an online account with Zerodha and what documents/elements are required, I will explain the process in detail step by step:
Step one: Go to the opening page of the Zerodha account in your browser. Here is a direct link to start the process of opening an account:
Once you click on the above link, the opening page of the Zerodha account will open as shown below.
STEP TWO: Enter your mobile phone number to register. You will receive an OTP to verify your mobile phone number.
The OTP is valid for the connection for the next 30 minutes. Check your SMS and use the same OTP to verify your mobile number.
Quick tip: At this point you can log in with any mobile phone number. However, you must also have a mobile number associated with Aadhar (which will later be used for the Aadhar-based OTP authentication process). Only then can you open an account online.
STEP THREE: Then enter your PAN number and your date of birth (D.O.B.) in the field provided. Make sure you enter them correctly. Below is a screenshot for reference.
STEP 4: You now have to pay the account opening fee, which is a one-time investment.
You have to pay Rs 200 for stocks and Rs 100 for goods. (The goods account is optional. If you want to exchange goods, you can make this payment, otherwise you can bring it in later).
You can pay via UPI or via net banking/card payment (recommended). Below is a screenshot of this step for your reference.
STEP 5: After the payment is made, the next step is to link the Aadhar data via Digilocker.
As mentioned earlier, DigiLocker is a government initiative to transfer your data aadhar and is very secure. You need a DigiLocker: Towards a paperless board and link your Aadhar to it.
Below is a screenshot for reference. Click Connect to DigiLocker and a new page will open to register your phone number with Digilocker. If you already have an account, click on the login option below.
When you log in to Digilocker, you will receive an OTP on your mobile number linked to AADHAR for information. When you receive the WBS, enter it and click Next. (Note: If you do not have a security PIN, click I forgot my PIN and reset it).
Then click on the Authorize button to transfer a copy of your Aadhar to Zerodha. Finally, your Aadhar data will appear on the screen. Make sure you enter the data correctly. Message: This step is performed only if you have not performed KYC before.
STEP 6: After you complete the Aadhar verification, you need to enter your personal details such as your father’s name, your mother’s name, your occupation, etc. Below is a screenshot of this step for your reference. When you have entered the data, press CONTINUE.
STEP 7: Next, you need to link your bank account. Here you need to provide more details starting with your bank details i.e. account number, bank name, IFSC code and MICR code of the branch.
Make sure you select all options (checkboxes) and click Next after reading the information.
Message: Please verify your bank information using your cash book, cancelled check, or bank statement (paper or electronic) to avoid having to fill out the forms again. Here is a screenshot of this step for reference.
STEP 8: Then comes the verification of the VPI via webcam/phone.
LPI or personal verification is a process by which a custodian personally verifies documents and other records in accordance with the SEBI Act. Each investor must undergo a personal verification process before opening a securities and brokerage account.
You must first activate the camera in your browser/phone to start the VPI process (see screenshot below). You must click the Allow button. Pressing the lock button turns the camera off and you cannot easily turn it on.
STEP 9: The WBS will then appear on the screen. You should clearly note this OTP on a piece of paper or on your smartphone. Then hold up a piece of paper/mobile phone with the code for your cell phone/web cam.
Check that you have captured the correct image by pressing and holding the OPT button on the paper. In the following screenshot, you can see how a person takes a picture. Finally, press the record button.
Message: Do not move the paper (paper marked OTP) in front of the camera until the picture is taken.
STEP 10: At this point, you should download the relevant documents we mentioned at the beginning. You need to upload documents such as bank details, PAN CARD, signature and income statement (optional).
Proof of income is optional and is only required if you wish to trade futures and options, currencies and commodities. Then click Next. You will be redirected to the equity eSign page.
STEP 11: Then comes the time for electronic signatures. Click on the eSign Equity button and go to the next step.
After pressing the eSign button, the following screen will appear.
STEP 12: After clicking on eSign equity, you will be asked to confirm your email. There are two possibilities here: Sign up with Google or sign up by email.
If you are using the email connection, please enter your email address correctly as you will receive another OTP to verify your email address. This is the email address where you will receive all future correspondence from Zerodha.
Enter and verify the WBS you received at your registered email address.
STEP 13: Once your email address is verified, a new page will open with the option REGISTER NOW. Here is a screenshot for reference. You have to check the form.
Then click on the Subscribe now button at the bottom of the page. You will then be redirected to the NSDL page.
STEP 14: On the NSDL page, click on the checkbox in the upper left-hand corner that reads I hereby certify……
Then enter your AADHAR number at the bottom of the page and click Send OTP. Finally, enter and verify the WBS.
STEP 15: Once the last step is completed and verified, the entire page is highlighted in green and the message You have successfully signed the document appears. This is confirmation that the Esign process for the stock segment is complete.
STEP 16: Then you will see a check mark next to the stock segment, which means you have successfully subscribed to that segment. On this page you can also download a document for electronic signature.
STEP 17: This step only applies to those who want to add a merchandise segment to their account. Here they must re-sign the electronic signature for the product segment.
Click on the eSign brand. You will then be redirected to the NSDL page. Then click on the checkbox in the top left corner and enter the aadhar number. You will receive an OTP on the mobile phone number associated with AADHAR. Once the WBS is entered and verified, the documents are also signed electronically for the commodity segment.
STEP 18: Congratulations, you have completed all steps. After all the above steps are completed, a congratulatory message will appear on the screen. Here is a screenshot for reference.
Quick tip: Once you have completed all the steps, Zerodha’s document review team will review your documents. After verification, you will receive an email from the verification team stating that your documents have been successfully verified. After receiving this e-mail, you will receive your login details within 24 hours.
Offline account opening procedure
How to open your demat and trading account at Zerodha offline?
You can also open your Zerodha account offline. However, the cost of opening an offline account is different from the cost of opening an online account. Below are the fees for opening an offline account:
- Rupiah 400 – for trade and demat accounts.
- Rs. 600 – for commercial, demonstration and merchandise accounts.
For this procedure, you need to download, print, fill and sign the application forms from the Zerodha website. If you need help completing the application form, please call us on 080 4913 2020.
Below are the application forms you must complete and submit to open an account:
- Request form : Trading and Demat account – Equity segment
- Request form : Market segment
- POA (Power of Attorney) – already included in the application form above.
- ECN (electronic contract message) to include the raw materials segment – already included in application form 2
- Nomination Form : In case you want to designate a person for your trading account and your DEMAT account, for example. B. your wife, father, mother or any other person.
The documents required to open an offline account are the same as for the online procedure. You will need a photocopy of your PAN card, proof of address (Aadhar card, driving licence, voter card, etc.), cancelled cheque/bank statement, proof of income and passport photographs. You must also countersign all of these documents as a self-declaration. A list of all documents accepted for account opening can be found here.
Once you have completed and signed the form, you must send it to the Zerodha head office:
#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078
You can also schedule an appointment with a Zerodha representative at an address, date and time of your choosing by calling the account opening hotline (080 4913 2020) or by sending a request to your personal sales manager.
Here, a representative of Zerodha will contact you and ask you to prepare all the necessary documents for a specified time and place. The representative must obtain all necessary signatures and self-certified documents/applications required to complete the account opening process.
What should I do after opening a Zerodha account?
Once your account is created, you can login using this link or use the KITE application on your mobile phone. Here is the link to the KITE trading platform.
You can also download the KITE app on android/iOS to start trading/investing in stocks. You can also find a list of other Zerodha products, such as Console, Coin, Connect API, etc.
I recommend using the online method to open an account. Zerodha is working on the Digital India initiative and you should be a part of it too. Although the online methods seem to have too many steps, they don’t take too long. When you launch the application form, you can create a feed and complete the form in 15 to 20 minutes.
The offline method is suitable if you do not have an Aadhar card and want to provide other proof of address such as a driving licence, voter’s card, etc. However, if you live in a village or a small town, it may be difficult to find a Zerodha employee. In addition, with the offline method, it can take 7 to 10 days to open a dematerialization and trading account. You can read the Zerodha 2021 review here.
That’s it. Below are the steps to follow to open a trading account and a trading account at Zerodha, both online and offline. I hope this post on How to open demo account and trading account at Zerodha is helpful for the readers. If you have any doubts, please comment below.
Hello, my name is Kritesh (Tweet me here), I am a certified fundamental equity analyst with NSE and an electrical engineer (NIT Warangal) by profession. I am passionate about stocks and have spent the last four years researching, investing and teaching people how to invest in the stock market. That’s why I like to share my knowledge with you. #HappyInvestingAs many people know, the Demat account is a type of DTC account where you can open your demat account at a broker. Zerodha is one of the best online broker in India, which provides numerous demat and trading services to its customers. Zerodha has a handy step-by-step guide to help you to open a demat account at Zerodha.. Read more about zerodha new account opening customer care and let us know what you think.
Frequently Asked Questions
How can I open demat and trading account in Zerodha?
You can open a demat and trading account in Zerodha by visiting Zerodha’s website.
How can I open Zerodha account for free?
You can open a Zerodha account for free by clicking here.
Does Zerodha provide demat and trading account?
Yes, Zerodha provides demat and trading account.
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