Fisdom Demat Account Review – Account Opening, Features, Charges, Offers & more

Fisdom, one of the fastest-growing discount brokers, can be an excellent choice for opening a Demat account.

The company enjoys almost seventy thousand active clients thanks to its free Demat account policy.

However, the zero-cost Fisdom account opening is a limited-period offer. This Fisdom Demat account review will give you the entire online and offline account opening process.

We will also offer the company’s essential features, AMC, and DP charges so that you can decide if this broker is the right choice for you.

Fisdom Demat Account – Top Features

With a Fisdom Demat account, you will receive lucrative offers and other benefits. When you open the Demat account, you can start trading in stocks and F&O, mutual funds, ETFs, and IPOs.

Here are the key features of the Fisdom account.

• The company is subject to regulation by AMFI and SEBI, which gives it credibility. It is a BSE and NSE member and has a CDSL registration.
• Stock Broker offers a limited period free Demat account opening opportunity.
• The stockbroker charges only a meagre price for AMC, i.e., Rs.299. However, you need to pay GST on that amount.
• It offers user-friendly trading platforms so that you can be connected and receive instant notifications.
• With this Demat account, you will receive multiple investment plans to suit your requirements.

Fisdom Demat account charges are nil, but that offer is for a limited period. As mentioned in the above section, Fisdom AMC is among the most affordable in the industry.

A customer must only pay Rs.299 and GST as yearly AMC. The Demat transaction charges are Rs.15 when you sell shares from your Demat holdings.

The DP charges are Rs.12 with added GST charges.

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Fisdom Demat Account Opening Process – Step by Step

Fisdom Demat account opening process is so simple and customer-friendly that you will be amazed.

It will take you only a few minutes if you open your Demat account online. You can also opt for offline account opening if you wish.

We will give you the entire account opening process details with step-by-step instructions to make it easier.

How to open a Demat account in Fisdom? – Online Process

If you are looking for an answer to how to open a Demat account in Fisdom but are new to this industry, you may need guidance. Here is the step-by-step online process to open an account.

1. Click the blue “Open Demat Account” button to start the process.
2. A 4-field form will appear on your screen; fill in all the details.
3. The company executive will call you after filling out the form & will share an e-KYC link with you.
4. The E-KYC link will have all the requirements to open the account online.
5. Here, you must provide your bank details, income details, and occupation.
6. Offer PAN number and Aadhar number for proof of residential address.
7. Complete your KYC details and upload a signature scan and photograph.
8. Perform an IPV (in-person verification).
9. Your Demat account will be open after the document verification process. It will take only 5-10 minutes. Get ready to trade as soon as your account is activated.

How to Open a Fisdom Demat Account? – Offline Process

If you are inquiring about how to open a Fisdom Demat account, we are here to offer you the details.

1. Click on the button “Open Demat Account” & fill out the form.
2. The executive will call. You can tell him that you want to open an account offline.
3. They will share an account opening form via email.
4. You can fill out the form & provide your name and permanent address.
5. Enter your phone number and email address.
6. Give your KYC and self-attested copies of the required documents.
7. Provide PAN and Aadhar details.
8. Submit bank account details and a copy of the income tax return.
9. Provide your passport-size photograph and signature in the form.

You can submit this form to the nearby branch of Fisdom or send it via courier or post to the head office.

After the process, the stockbroker will give you the BOID and DPID to trade from the Demat account.

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New customers must submit the required documents to open a Fisdom account. We have made a list of the documents you need to keep with you while opening the Demat account.

• PAN Card Copy
• Identity Proof – PAN
• Address Proof – Aadhaar Card/Driving License/Passport
• Bank Account details – Canceled Cheque/ Bank Passbook
• For F&O Trading, you can submit a copy of Income proof – IT Return/ Salary Slip
• Passport Size Photo
• Signature/ Signature scan

How to Close a Fisdom Demat Account?

Closing a Demat account might be complicated. We assure you that is not the case. If you want to know how to close a fisdom demat account, read the steps below.

• Open the Fisdom website, scroll down, and click “Download Forms”.
• A new page will open, and you will see “Account Closure Request Form” under the Demat Forms section.
• Download the “Account Closure Request Form”.
• Fill in the details.
• Submit the form with the required documents.
• Your Demat will be closed in a few days after the company processes the form.

Fisdom Demat Account Review – Conclusion

Opening a Fisdom Demat account for trading is a great choice. The company’s low AMC charges and limited period free account opening option lure many traders.

The account opening process can be done entirely online and very quickly. When your new Demat account opens, you can start trading in multiple investment segments immediately.

FAQs on Fisdom Demat Account Review

Have a look at the list of FAQs for the Fisdom Demat account.

How do you create a Demat account in Fisdom?

To open your demat account, you can go online or offline. For the best guidance, hit “open a demat account” on the same webpage. An executive will call you to take it further.

How do you delete a Fisdom account?

To delete the Fisdom account, go to the “Download Forms” section and download the “Account Closure Request Form”.

Please submit the form after filling it out, and your account will be closed in a few days.

What is AMC in Fisdom?

The AMC is Rs.299 per Year + GST.

What is Fisdom Account Opening Fees?

The company provides a limited period free account opening offer.

How do you find the demat account number in Fisdom?

Finding a Demat account number, i.e., BOID, is very easy. You can find this number in three places: 1^st in your welcome email, 2^nd in your transaction statement & 3^rd in the profile section of your App login.

How do you get a Statement of Demat Holdings in Fisdom?

To find a statement of demat holding, you must 1st log in to the Fisdom App or website. Then, you can navigate to the Portfolio section.

In that section, you will see all your investment and trading details. You will find monthly, quarterly, and annual statements that you can download.

If the statement is password protected, use the password your DP has given you to download it.

What documents are required to open a demat account?

You need various documents to open a demat with this broker.

A PAN card copy is a must; it also acts as ID proof, an Aadhaar Card copy for address proof, a cancelled cheque for bank account proof, and a passport-size photo & signature copy.

To trade in F&O, you must submit income proof, i.e., an IT return or salary slip copy.

How long does opening a Demat Account in Fisdom take?

If you follow the online Demat account opening process, the company claims the entire process will take just a few minutes.

Download the app from the official website, fill in the details, and upload the required documents. Your account is ready to open after company verification.

How do you change the bank account in Fisdom?

The online account opening process takes about 20 to 30 minutes, and your account is opened within one working day.

The offline account opening process takes 3 to 7 working days, depending on how quickly the broker receives all the documents & account opening forms.

How to transfer shares from one Demat Account to Fisdom Demat?

The share transfer process is currently done offline. For this, it takes around seven working days at the earliest.

Here, you need to submit a DIS or Delivery Instruction Slip to your current broker; the broker then submits it to the depository, i.e. CDSL or NSDL.

Then, the depository transfers shares from the existing demat account to the Fisdom Demat account.