ICICI Direct Market App: The Complete Guide to Smart and Secure Trading on the Go. "earnbyshani"

ICICI Direct Market 100% Information 

What Is A Demat Account?

A Demat Account holds shares and securities electronically or in a dematerialised form. It is an easy and convenient way of holding assets such as shares, Exchange-Traded Funds [ETFs], government securities and bonds.

A Demat Account allows for quick, secure and convenient transactions for buying and selling shares and other securities. With a Demat Account, shares or other financial instruments can be easily accessed and all activities can be instantly checked by simply logging into the account anytime. A Demat Account is connected with a trading account to simplify stock market transactions.

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What Is Dematerialisation?

Dematerialisation is a proper form of keeping record online in demat account and is designed to offer enhanced protection and increased speed for buying and selling in an electronic form.

A Demat Account enables the electronic transaction of shares and securities to be bought and sold through the process of Dematerialisation. Financial transactions involving stocks and other securities of the investor are held in the Demat Account as a means for convenient and hassle-free trades.

                                 ₹20

Intraday Trading Brokerage Charges (Unlimited per order).

                               30 mins

Sell stocks and get money within 30 mins.

                             8.9% P.A.

Margin Funding interest rate to buy stocks.

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• ₹0 future trading charges.

• ₹0 options & Intraday trading ( unlimited per order ).

• ₹20 community & currency derivatives ( unlimited per order ).

→Trading Account Fees & Charges Here is a list of trading account charges you need to be familiar with :

1. Account opening charges:

Discount brokers, traditional or full-service brokers, typically have higher overhead costs. Therefore, they may levy a charge for opening a trading account online. However, if you open an account with ICICIdirect, there are no charges to open a trading account.

2. Annual maintenance charges:

Many brokerages charge an annual maintenance fee to keep your account active and ensure consistent service delivery. Some brokerages build this into the account opening charge.

3. Transaction fees:

For every trade that you make, brokerages will levy a fee. These transaction charges depend upon the trade's value and the transaction's volume.

4. Custodian fees:

You will also have to pay custodian fees on your trading account for the brokerage to keep your assets safe.

5. Dematerialization fees:

If you hold any securities in the physical form and want to convert them to the digital format, you will need to pay a nominal dematerialization fee.

How To Open A Demat Account?

• Verify your personal details Verify your         personal details.

• Complete self KYC Process Complete         self KYC Process.

• Digitally sign your documents with e-          Signature Digitally sign your documents      with e-Signature.

Benefits Of Demat Account

• One-stop storage

Users can track their investments and transactions through a single Demat Account.

• Safety and security of assets

There is no fear of loss, theft or damage to the stocks and securities owing to the Demat Account's digital format.

•Elimination of Odd-lots

Buying and selling of single units are possible with a Demat Account.

•Reduced costs

Stamp duty and other handling costs are eliminated due to the digital format.

•Easy liquidation and monetisation

A Demat Account offers easy liquidation of assets.

•Effortless KYC Updating

Users can easily update any change in address, mobile number or nominee details via a single Demat Account. 

•Swift settlements

A Demat Account reduces settlement cycles, thus saving users time and effort. 

•Easy Transmission

A joint Demat Account can add a next-of-kin as a nominee to effortlessly transfer assets.

→ICICI Direct Demat Account Features 

A Demat Account makes financial transactions easy and convenient - features of Demat Account include.

→Simplified buying and selling of shares

A Demat Account helps in buying and selling shares online. Formerly, transferring shares physically would take anywhere between a fortnight to a month. A Demat Account ensures a simplified process with reduced costs. Besides, holding securities in the electronic form does not require stamp duty when transferring them.

→Transfer securities electronically

With a Demat Account, users can transfer securities online in seconds. Delivery Instruction Slips [DIS] are used to transfer securities from one Demat Account electronically.

→Loans on securities

When choosing an online Demat Account opening, users benefit from taking a loan on their securities. Pledging securities held in the online Demat Account as collateral can help obtain necessary funds when needed.

→Receive dividends directly

Users can receive stock dividends and bonus issues of shares released by companies directly and safely through a Demat Account.

→Quicker Dematerialisation and rematerialisation

Upon providing instructions to the DP, users can convert physical certificates into electronic forms whenever needed. Certificates can also be converted into physical form if required through rematerialisation.

→Option to freeze the account

A Demat Account can be suspended for a specific period whenever needed. This feature comes in handy when users avoid unexpected debits or credits into their Demat Account. Users can also opt to freeze their Demat Account for a specific number of securities in the account.

→Accessing multiple options

A user can operate a Demat Account electronically through various devices and modes. A Demat Account can be accessed via a computer, laptop, and other smart devices through the Internet.

→Easy access to the Indian stock market

Non-Resident Indians can also open a Demat Account and invest in shares in the Indian stock market through their NRE or NRO bank account.

•Documents Required To Open A Demat Account

To open a Demat Account requires specific documents. Below is a complete checklist of documents to open a Demat Account.

1.PAN Card

It is mandatory to submit a copy of the PAN Card as Proof of Identity. Make sure your photo and signature are visible on the card.

2.Signature

Sign on a white paper and upload its picture. Ensure that your signature matches the one on your PAN card.

3.Proof of bank account

As proof of your bank account, upload the image of a cancelled cheque or your bank statement/passbook for the last six months.

4.Financial document

To trade in derivatives such as F&O, you need to submit the soft copy of the Income Tax Return (ITR) statement, salary slips for three months, bank statement for six months, net-worth certificate, Demat holding statement, or holding report.

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Note from the editor: This article was first released in December 2022. On the publication date noted above, 

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