If you want to start buying and selling in the stock market, you first need to choose the best Demat account you may open for beginners. You must go for the best Demat account as a beginner to avoid the troublesome process if you do not work with the best Demat account.
You can open a free Demat account online that will help you in many ways as you can process all the transactions digitally anytime from anywhere. In some states, without a Demat account, you cannot trade or own shares; therefore, in this situation then, the Demat account is mandatory. Here you will explore the best Demat account for beginners so that you can open it and start trading.
What must you know about the Demat account?
Demat accounts are different from trading accounts. With the Demat account, you will store your shares or securities digitally. You need to have this account because, in most cases, it is mandatory.
Though others still own the paper format share certificate from the past trading, these paper forms must be converted into electronic forms to be traded on the stock market. If you are among the ones that still own the paper format certificate or you want to start to trade, then having a Demat account would be a must.
With the Demat account, you would reap many benefits compared to the physical formats. With this account, you have a guarantee of safety in the event of theft or damage. For example, if you are working with stockbrokers, for instance, when they go bankrupt, your shares will be safe because they will be maintained in this account.
Note that the Demat account is different from the trading account, so do not confuse them. The trading account provides you with the platform to do the trading, while the Demat account provides you with the repository to store your shares in digital form. Now let’s look at the best Demat account you can open as a beginner.
Zerodha demat account
Zerodha Demat account is one of the best accounts that you can use as a Demat account as a beginner. Zerodha is among the pioneers who introduced the discount brokerage concept. Since then, Zerodha has built its reputation over time, and by now, it has overtaken most of the well-established and reputable companies. You can open a free Demat account online with them, start trading, and see how it benefits you.
Choice India Demat Account
Choice India is one of the leading platforms for online trading. The platform is known for its user-friendly application, easy access and multiple benefits. It is one of the top-rated trading platforms in the country. Choice India is known for its optimum support, secure trading platform, optimum client care. You can open a free Demat account with Choice. There is zero account opening fee at Choice India. Moreover, the margins at Choice India are also high as compared to other contemporaries.
Sharekhan
The all in one trading platform is one of its kind. The tools and features of the trading platform are simple and user-friendly. One can easily manage a portfolio, do a comparative analysis and market research using the application of ShareKhan. It is easy to open an account with Sharekhan. All you need to do is just submit some important documents and you are ready to trade in stocks, bonds, mutual funds, futures and much more.
HDFC Securities Demat Account
HDFC Securities has a legacy of around 20 years in providing cutting edge trading solutions. The advanced application of HDFC securities and modern tools allows one to optimally keep a track of the trade. It provides one easy access to global investment options, market research tools as well as portfolio tracking features.
Conclusion
The detailed article for which is the best Demat account for beginners brings you to the following concussion: the introduction of the Demat account will save you your time and help you trade digital without involving yourself in paperwork.
You can use many platforms to open a free Demat account online; however, not all of them are the best option for a beginner.