Choice Broking is one of the best full-service broking firms available in India. The stockbroking company is a member of BSE, NSE, MCX, NCDEX, MCX-SX and a depository participant of CDSL. In this article , we will see how to open choice broking demat account.
The company gives the services in investment banking, management consultancy, broking & distribution, commodity derivatives, depositary services, MFs and insurance distribution among others.
It also provides its clients with research reports based on companies sectors, economy, commodity, currency and MFs.
I would recommend you to open a Choice Broking Account to claim free benefits and lowest Choice Broking brokerage charges.
Why should you Choice Broking Demat and Trading Account?
Choice Broking is based in Mumbai, Maharashtra and was established in the year 2010. Here are a few reasons to open a Choice Broking Demat and trading account.
- Charges for delivery trades are less compared to other Full-service Brokers.
- Very well developed and User-friendly trading platforms
- No turnover assurance or upfront fee
- 200+ customer support base is available to solve all your queries via phone or email.
- No AMC charges for the first year.
- You can apply for an IPO using Choice Broking.
Choice Broking demat Account Opening Charges
Choice Broking demat Account opening charges are as below
- Choice Broking demat Account Opening fee is Rs 150 for equity and currency, in which you can buy/sell shares & derivatives on NSE and BSE.
- Rs 100 for commodity trading, in which you can buy and sell commodities on MCX.
|Depository Source||CDSL & NSDL|
|Account Opening Charges||Rs.250|
|Demat AMC Charges||Free|
|Trading AMC Charges||Free|
|Margin Money||Minimum Rs.5,000|
Choice Broking Brokerage Charges
Choice Broking charges a brokerage charge of 0.02% per executed trade. The brokerage charge will be fixed irrespective of the trading volume. The brokerage charge for delivery based trades is 0.2%.
|Equity Delivery Trading||0.2%|
|Equity Intraday Trading||0.02%|
|Commodity Futures Trading||0.02%|
|Commodity Options Trading||Rs 50 per Lot|
|Equity Futures Trading||0.02%|
|Equity Options Trading||Rs.25 per Lot|
|Currency Futures Trading||0.02%|
|Currency Options Trading||Rs.20 per Lot|
Documents Required to Open a Choice Broking demat Account?
To open the Choice Broking demat Account, we need to upload a few documents online. I suggest you keep soft copies of all these documents ready.
The documents required for Choice Broking demat Account opening are
- Pan card
- Aadhar card linked with mobile number
- Signature on a white paper
- Cancelled cheque
- Income Proof
Step by Step procedure to Open Choice Broking Account Online
Step 1. Register with Choice Broking
To open a Choice Broking Account you need to click on this link and fill your Basic Details like your Mobile Number and PAN card number then click on continue to start the signup process.
Step 2. Enter your Pan Details
In this step, you need to upload a clear picture of your PAN card and enter your details like Email id, Mobile number, Date of birth, Referral code, the Nearest city.
Step 3. Enter Basic Details
Here you need to enter your basic details like Mother name, Aadhar number, Birthplace, Gender, and click on next to go for further steps.
Step 4. Enter your Income Overview
You need to Enter your Income slab, Occupation, Education Qualification, and Previous trading experience.
Step 5. Enter Address Proof
In this step, you need to enter your full address, city name, state, and postal zip code.
Step 6. Enter Nominee Details
Here you need to enter your nominee details like nominee name, Relationship, and Address.
Step 7. Enter Bank details
In this step, you need to upload a clear picture of your canceled cheque and enter the account number, Ifsc code, and bank name.
Step 8. Select the segment
Here you need to select the exchange segment in which you would like to trade in the stock market.
Step 9. Upload required documents
In this step, you need to upload your documents like income proof (6 months’ bank statements), a Clear picture of your aadhar card front and back, a photograph or you can click a selfie and upload it, and a signature as per your pan card.
Step 10. In-person verification
After uploading your documents, you need to click on “Next” to receive an OTP. You need to write the OTP, Email id, and your mobile number on a blank paper and click a selfie by holding a paper with OTP for in-person verification process and click on next to complete the online E-sign process.
To complete the e-sign process online you need to have your aadhar card linked with your mobile number. You get a pop-up whether you want to add e-sign, you need to select yes to add e-sign to authenticate the complete application form and documents.
For completing the e-sign process, you need to enter your aadhaar card number, tick the box and click on “Request for OTP”. You need to enter the OTP received on your mobile number linked with your aadhar card to complete the e-sign process. You will receive a welcome mail for onboarding from Choice Broking.
Choice Broking Account Opening – Offline Process
If your aadhar card is not linked with your mobile number, you need to do an IPV (in-person verification) by holding a PAN card and aadhar and record a video.
You need to take a print out of offline forms, make signatures on the documents and courier to the choice Broking head office address. It will take 7 days to process your forms and complete the Choice Broking Account Opening process.
FAQs on How to Open Choice Broking Demat Account Online
Are there any account opening charges?
No, As of now you can open a free Choice Broking Account using this link.
How do I open an account offline?
To open Choice Broking Account Offline, you need to download the offline account opening forms, attach documents with it and courier to the Choice Broking head-office address.
How do I open an account online?
You can use this referral link to Open Choice Broking Account without paying any account opening charges.
What documents are required to open an account?
The documents required for Choice Broking Account opening are
Pan card, Aadhar card linked with mobile number, Signature on white paper, Cancelled cheque, Photograph, Income Proof.
What are the products offered by choice broking?
The list of products offered by the choice broking is equity trading, commodity trading, currency trading, options, futures, mutual funds, SIP, insurance.