Mumbai8 minutes ago
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Investors can now open a demat account for free in trading and investment platform Zerodha. The company said on Wednesday that now no charges will be levied on investors living in India for opening a demat account.
The company said that the onboarding process for opening an account has now become completely digital, so the company has taken this decision. Earlier, there was no facility of e-signing through Aadhaar to open a demat account, due to which there was an offline process for opening a demat account. Therefore, the company used to charge for account opening.
There was no e-sign process till 2016-17
The company said, ‘When we started Zerodha, we consciously decided to charge for opening an account for two reasons. There was no Aadhaar or e-sign process until 2016-17.
The process of opening an account was completely offline, which meant there was a cost involved. So we had to introduce account opening charges to cover the cost.’ However, many trading platforms including Groww, Angel One are already opening demat accounts for free.
Demat accounts in the country have increased 5 times in the last 6 years
According to data from Central Depository Services Limited and National Securities Depository Limited, the number of demat accounts has increased 5 times in the last 6 years. There were 3.6 crore accounts in the year 2019, which has now increased to 15.1 crore.
Zerodha may shut down zero brokerage service
Zerodha may end the ‘Zero Brokerage Framework’, or increase the trading fees for Futures and Options (F&O). Zerodha’s co-founder and CEO Nithin Kamath recently hinted at this. This may happen due to the new circular of market regulator SEBI.
Nitin Kamat wrote on the social media platform X – SEBI has recently issued a circular. It states that Market Infrastructure Institutions (MIIs) like stock exchanges will have to levy charges ‘as per the label’ from October 2, 2024.
This circular will not only affect brokers but also traders and investors. It is quite likely that the zero brokerage structure will have to be abandoned or the brokerage for F&O trades will have to be increased. Brokers across the industry will also have to change their prices. Click to read the full news…
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You will be able to do equity-commodity trading from a single account in Zerodha: Know the process to activate it, the founder said – it took a lot of time to resolve the issue
There is no need to create a separate account for commodity trading in Zerodha and add money to it. Investors can buy commodities using the amount from their existing equity account. The company’s founder and CEO Nithin Kamath gave information about this on the social media platform X. Click to read the full news…
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