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Things to keep in mind before opening a Demat account

Things to keep in mind before opening a
Demat account
When you’re playing dmintion, a badminton rocket, a shuttle cork and a net
re respectively the most essential thing you need. Similarly, while playing the
stock market, the most essential thing you need, is a demat account.
But what is a demat account? A demat account holds all your financial
securities, in electronic form. Before you enter the stock market, it is
important that you open a demat account. Opening a demat account is no
major task, there are a lot of brokers tht can let you open your demat
account for free or for a minimal amount.
Since your Demat account holds the details of the most important of your
financial investments in electronic form, being concerned over it is natural.
Therefore, you need to look at a few things before you open a Demat
Transaction of shares takes place through brokers. There are two types of
brokerage firms- discount brokers and full-service brokers. A discount broker
will allow you to trade only in equity and F&O, but a full-service broker will
allow you to invest in personal finance, like mutual funds and IPO. Before
opening a Demat account, you have to choose the broker you want to open
an account with.
Every broker charges different fees and brokerage charges. But before you go
for a particular broker, it is important you understand brokerage charges, as
well as account opening charges, very carefully.
Brokers provide different types of software. Before associating with a broker,
you have to ensure that the software they use is user friendly and you are
comfortable with it. Getting involved with a cluttered, technically
complicated software will make trading difficult for you.
Online support
While trading, there will come a point when you will need your broker’s
assistance. Make sure the broker you associate with, provides quick support.
Check about the back end support provided by the broker and the
accessibility of the customer support team.
Find a nominee
In case of your demise, all your investments go to your nominee. Thus, before
you start trading, make sure you have a nominee who is aware of your
investment goals and can take your investment forward, in case of any
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Read More: Open Demat Account with Zerodha