ProStocks Demat Account Opening, Charges and Procedure
ProStocks is the fastest growing discount stock broking firm that offers its trading services at BSE and NSE. The firm is registered by SEBI (Stock Exchange Board of India).
ProStocks offers its trading services in Equity Delivery, Equity Intraday, Equity Derivatives (F&O) and Currency Derivatives (F&O) segments at BSE and NSE. The customisable trading platform offers convenient trading through the installable trading terminal, website and mobile application and all of it at free of cost to all the customers.
ProStocks Demat Account
ProStocks offers unique two-in-one facility to its customers which includes trading and demat account. ProStocks is a member of CSDL. It is one of the two public sector depositories in India by offering demat services for holding the securities. This Stock broker provides its unique service of Zero AMC Demat Account Opening.
ProStocks Demat Account Charges
ProStocks facilitates its customers with Zero demat account charges. This means the firm charges ₹0 for opening a demat account with the stock broker.
While you open the demat account with ProStocks, the shares are held by CDSL, the government own depository. The information about the holdings can be obtained from the Central Depository Services (India) Limited (CDSL). The demat account with ProStocks is regulated by SEBI and CDSL. It is completely safe to open a demat account with ProStocks.
The charges are explained further in detail
Fee for PoA Clients
Demat Account Opening Charges
Stamp Charges (payable upfront at actuals)
Annual Maintenance Charges (AMC)
₹0 (with ₹1000 one-time refundable deposit)
₹0 (with ₹1000 one-time refundable deposit) + ₹500 CDSL fee at actual
Transaction Charges per ISIN (Market Trades)
₹20 flat for every debit transaction
Transaction Charges per ISIN (Off Market Trades)
0.02% or ₹20 whichever is low
₹50 per set up
₹50 per set up+ CDSL Charges
Courier Charges per Demat/Remat Request
₹50 per set up
₹50 per set up
₹50 per set up
₹50 (Courier Charges)
Adhoc/Non-Periodic Statement Request
₹10 per request
₹50 per request (up to 10 pages). Every additional page at ₹5+₹ 50 courier charge
First Delivery Instruction Book
Free (5 Leaves)
Every Additional Booklet
₹100 (10 Leaves)
Cheque Bounce/Per Cheque
₹50 per ISIN
Modification in CML
₹25 per request
KRA Upload/ Download
GST at 18% will be applicable on all above charges.
Documents Required to Open a Demat Account with ProStocks
To open a demat account with ProStocks, a set of documents is required. The list of documents is listed below:
1. PAN Card.
2. Address Proof.
3. Aadhar Card.
4. Bank statement or cancelled cheque with the name printed on it.
5. Passport Size Photographs.
Demat Account Opening Process
A customer is required to follow the below-mentioned steps in order to open a demat account with ProStocks:
1. Visit the official website of “ProStocks”.
2. Click on “Open Demat Account”.
3. Register yourself by entering the personal and bank details.
4. Click on “Generate an OTP”.
5. Enter the OTP that you will receive on the Aadhar registered mobile number.
6. Upload the scanned copies of the document and submit it.
In some time, your account will get activated. Once the account is opened and activated, the customer receives a mail that include customer’s login credential for trading platform and back office. The mail will also have the detailed instructions of how to access or download the software.
1) The KYC team sends an email about the receipt of the documents once all the account opening documents are received.
2) The team will verify the documents and request the customer for IPV, if required.
3) After completing the IPV, customer will receive a welcome call and will validate the details.
4) As soon as the verification is completed, a welcome mail will be sent to the customer with all the account related information.
ProStocks offer Zero AMC Demat Account. Unlike other brokers, customers is not required to pay any annual fees. The ProStocks demat account without AMC is for all its customers including Individual, Corporate and NRI.
Yes, a depository account can be opened in ProStocks with the names of four holders but the account can only be used for dematerialization of shares that are held in the same combination. No shares can be credited by purchase or transferred from any other account. Hence the standing instruction for credits will be “N” for such accounts.
ProStocks will open your account on the same day after duly completing the account opening documents that are given in the office, in case you are already KRA compliant and In person Verification(IPV) is not required. If the IPV is required , then the ProStocks will open the account within four working hours post IPV. You will be able to trade from the next day subject to transfer funds for margin in the trading account with ProStocks.
Yes, the customers can link with more than one bank account to your trading account. There are no restrictions on the number of bank account you can link. It is advised to link all the bank account so that the customer can transfer the funds from any bank account they hold.
Nomination can be done either at the time of account opening or later. The Nominee name and address is to be provided by the account holder. The account holder is required to sign before the two witnesses.
Each NRI can purchase the maximum of 5% equity shares of listed company subject to overall limit for the listed equity shares of each company on repatriation benefit basis. NRI investment in equity shares of listed company without repatriation benefit is treated at par with Indian resident and there is no upper limit.
Being a new entry in the financial industry but it is a legitimate safe and reliable stock broker. The firm has received a good market share in a short time period owing to its low-cost pricing, advanced trading platform and faster customer service.
You can download KRA modification form available at the download section of ProStocks website or take the first page from KYC which is a KRA form. Fill in the information that you wish to change besides the name and PAN number in the KRA form, sign it and attach the self-certified PAN Card Copy.
Client can pick and choose one or more segments from the list below:
1) NSE- Equity Cash Segment.
2) NSE- Equity Future and Options Segment.
3) NSE- Currency Futures and Options Segment.
4) BSE- Equity Cash Segment.
5) BSE- Equity Futures and Options Segment.
6) BSE- Currency Futures and Options Segment.
Note: The customer is required to select atleast 1 trading segment at the time of account opening.
Prostocks provide SMS alert facility for demat account holders where by the investors can receive alerts for debits (transfers) to their demat accounts, credits for IPO and offer for sale allotment, sub-division and bonus.