Who are stock brokers?
Registered members of stock exchanges are called stock brokers
A broker is also called a trading member in ideal market conditions for those who have the necessary qualifications and experience in finance either as an independent service provider or employed in a brokerage firm.
A stock broker is familiar with market dynamics and hence you can rely on their judgment and knowledge to enable you to make sound decisions in the market.
Here's what a broker can do for you
Guide and represent you in the stock market
Buying and selling stocks
Provide accurate information about investment options available in the stock market
Compulsorily provide accurate information about shares and their value
Inform you about relevant market movements
If you are dissatisfied with your broker's service you can file a complaint with SEBI under the Arbitration Act.
No you have to select SEBI selected broker
Investing in share market means stocks of a company why if you want to buy shares you have to first go to SEBI member of stock exchange Broga. Before you start investing you need to register as an investor.
What is a trading account?
A trading account is a bridge between your demand and bank account. It is opened by a stock broker. When an investor buys a certain number of shares, the first step is to transfer the amount from the bank account to the trading account. After the money is deposited, trading begins.
Thus when an investor sells a certain number of shares, the transaction amount is credited to the trading account.
Here are some important points about a training account.
It takes about 2-3 Arya days for a transaction to reflect in the trading account
Investors can create multiple demand accounts and trading accounts
It is not mandatory to open both these accounts with the same broker or bank
The broker has the advantage of doing so. If not, investors can open your own demand account
Investors must ensure that their account details are correctly mentioned in the form they submit to open their own account.
What is a Demand Account?
A demand account is where your securities are held digitally A new demat account requires you to provide detailed written documents;
A passport size photograph
A copy of your PAN card
Identity proof like Aadhaar Card, Passport, Voter ID Card, Driving License, PAN Card or any other approved photo ID
Address proof like ration card, passport, voter ID card, driving license, bank passbook, electricity bill, declaration from High Court or Supreme Court or proof of address given to Secret Authority.
After you submit the required documents and they are verified, a demand account is created
A training account is created with a demand account. To open a trading account you need to submit the following documents;
A passport size photograph
A copy of your PAN card
Identity proof like Aadhaar Card, Passport, Voter ID Card, Driving License, PAN Card or any other approved photo ID
. Address proof like Ration Card, Passport, Voter ID Card, Driving License, Bank Passbook, Electricity Bill, High Court or Supreme Court recognized address proof
What is a KYC form?
The KYC or Know Your Line application form is a contract between you and Borokar to provide them with the information they need. What they will verify is KYC from there are some important rules that you must consider.
Common KYC form for all types of investment without proper exchange
Request set of documents for KYC of all types of investments
There are two different forms for individual and non-individual investors
Fill all fields of the KYC form and close the blank fields
Do not sign a blank form
You can leave any page blank. account
Know the rivers you need to submit to your broker
The following details must be attached to a KYC application form
Identity proof like Aadhaar, Passport, Voter ID, Driving License, PAN or any other, approved photo identity
A passport size photograph
After you successfully submit the above forms and documents your type will open a trading account in your name. You will then receive another identification number known as a calendar code To be used for trade which is in your favour by the broker is conducted.
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