Flattrade Demat Account Review - Opening, Charges and Features

 
 
 
 
 

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Flattrade Demat Account Review | Charges and Procedure

Flattrade Trading Corporation is a Chennai-based discount stock broking company. It was incorporated in 2004. It offers zero brokerage fees to its customers once you open a demat account in India with Flattrade. It also provides the online Investment platform for Wealth Management through Mutual Funds.

Flattrade offers Demat + Trading account to the customers. Demat 3 in 1 account service is not offered by the Flattrade. It is holding a membership of popular exchanges like NSE, BSE and MCX. The firm is growing steadily for the past few years.

Flattrade Demat Account Opening Charges

Service

Charges

Flattrade Demat Account Opening Fees (One time)

₹0

DDPI for Demat Account (One time)

₹175 + GST

Flattrade Demat Account AMC (Yearly)

₹0


Flattrade Demat Account Details

Flattrade Trading is a depository participant of CDSL. It allows the company to provide online demat account India to the customers. The stock broker facilitates its customers to open a trading and demat account at once with a company. Demat account holds the shares in an electronic form in Flattrade. Dematerialised account is commonly known as Demat account. To do any transaction in stock exchange, investor must have a demat account or demat stock account. Investor can open a demat account with the help of broker. Demat account makes your trading, investing etc. smoother and faster as well.

As per government guidelines, it is mandatory to have an India Demat account for trading along with a trading account. Flattrade offers NRI demat account in India services to the Indian Residents only which means it does not provide Flattrade NRI account opening facility to the NRIs. If NRIs wish to open demat account for NRI in India then they must have Indian residence proofs and Indian bank account.

Documents Required to open a Demat Account in Flattrade

A certain set of documents is required to open a demat account with Flattrade Trading. The documents require are listed below:
1. PAN Card.
2. Address proof (Driving license, Ration card/ Aadhar card/ Latest telephone bill/ Latest electricity bill).
3. Passport size photograph.
4. Bank account statement of last 6 months.
5. Cancelled cheque with name printed on it.

Procedure to open a Demat account in Flattrade Trading

1. Visit the official website of Flattrade Trading and click over the “Open Demat Account”. Fill the account opening form.
2. The Flattrade trading team will give a call back to the customer and then will further help you to complete the KYC forms from the official website of Flattrade trading website.
3. The investors need to carry their Aadhar Card, PAN Card and Bank details of themselves in order to open the contracts and account under Flattrade Trading.
4. Upload the scanned copies of all the documents.
5. Once the verification process gets over, then the login credentials are shared to the customer that can deal in stocks and other funds.

Conclusion

The Flattrade Trading grows at a very fast rate as compared to other discount broking houses. It is very good for the experienced traders as it provides various excellent advisory services. It provides account opening facility to its customer for free of cost but may cut a fixed amount once you add funds in it.


Frequently Asked Questions


No, there are no AMC charges of the Flattrade Trading and demat account.
The superior trading platforms and affordable pricing models are the unique factor of Flattrade Traders.
The customer can place many orders in Flattrade such as Market Orders, Limit Orders, Stop Loss Orders, After Market Orders (AMO), etc.
They offer the stock broking services as they can have any of account types that they offer like Depository Participant (Demat Account), Commodity Trading, Equity Trading, Derivatives Trading, Currency Trading and Mutual Funds.
The stock broker was founded in 2004 and the company is held privately and is led by Mr. K. Narayana Moorthy. He is a highly experienced and well-known spot bullion trader.
Yes, Flattrade allows the dematerialization.
The Flattrade trader has two legal entities under its brand with Flattrade Trading Corporation. It renders services for Commodities trading, and Flattrade Capital Service Private limited.
The brokerage charged for Intraday and Delivery is ₹10 per order.
The communication channel by which the stock broker reach out to its customers are through call, offline branches, Email and Web-form. The customers need to contact the stock broker between 8 AM to 8 PM i.e. during their office hours.
It offers stock broking services in Commodity, Equity, Derivatives, Currency and Mutual Funds.
The customer will get the exposure for trading within 3 to 4 minutes of fund transfer from the account. It is an automated process and no manual intervention is required.
It makes transactions secure by sending the information about the account activities on the phone directly from the exchange.
They have six branches which are located in Chennai, Bengaluru, Telangana, Cochin, Madurai and Jabalpur.
It is the fees charged by some of the stock brokers at the time of buying or selling the mutual funds. Mutual fund charges depend upon the stock brokers or fund houses. Many brokers also have 0 fee mutual funds.
You can do this simply by accessing the order page (on trading terminal) where you have the option to cancel or modify order.
The office of Flattrade trade opens from 8 AM to 8 PM from Monday to Friday, 8 AM to 5 PM on Saturdays and remains closed on the Sunday.
Since Mutual funds investments are subject to the market risks. There is no guaranteed or assured rate of return.
No, you are not required to issue cheques by the investors while subscribing to IPO. Customer need to write their bank account number and sign in the application form in order to verify the bank account to make transactions.
Generally, users have to close their demat account as it cannot be changed into NRI account and open a demat account in India for NRI. But some brokers might provide this service. You can contact your respective stock broker’s customer care in which you have your existing demat account.
Yes, Flattrade traders provide investors with infrastructure, facilities and services that are complicated for them to achieve their short- and long-term business objectives.
They offer the dedicated relationship manager for the trading and wealth management, dealer terminal at the office or premises, reliable support and management processes, online product or investor terminal to partner’s clients at no additional cost.
Yes, the transactions are secure as Flattrade make transactions secure by sending the information about the account activities on your phones directly.
Zero or no initial margin amount is required to start trading with Flattrade.
It has a registered office location at “Kochar technology Park”, 6th Floor, SP 31- A, 1st Cross Road, Ambattur Industrial Estate, Ambattur, Chennai.
Yes, Flattrade traders provide brokerage calculator for its customers so that they can determine the profits easily.

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