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

If you are ready to enter the world of stock trading, creating a FlatTrade Demat Account might be the key to effortless and cost-effective trading for you.

This is a discount brokerage firm in Chennai that began operations in 2004 and offers various financial services. It specialises in zero-brokerage.

In this FlatTrade Demat Account review, we will assess brokerage costs, annual maintenance charges, transaction fees, trading platform, FlatTrade account opening process, and other factors to decide whether the broker fits you.

FlatTrade Demat Account – Top Features

The key features of FlatTrade Demat Account are described below if you are looking for a specific feature.

• Unlike traditional brokers, this broker doesn’t charge any brokerage on trades. This can save you significant money, especially if you trade often.
• Opening a FlatTrade account is free, so you can start trading immediately without any upfront costs.
• You will not pay any annual fees to keep your account open.
• You can open an account online or offline. The online process is quick and easy, and the offline process is available for those who prefer a more personal touch.
• This trading platform is easy to use, even for beginners. It has all the features to trade stocks, options, and mutual funds.
• With over 12,000 active accounts, this broker has a large community of traders with whom you can learn and share tips.

Now, we need to know FlatTrade Demat Account Charges and FlatTrade AMC. While they don’t charge brokerage fees or AMC, there are a few other fees to be aware of.

Depository participant (DP) charges Fees charged by the company holding your securities. The DP charges are Rs.20 per scrip on sale.

There are no charges for closing your account. If you place your trades over the phone, there is a charge of Rs.50 per Trade.

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FlatTrade Demat Account Opening Process – Step-by-Step

Creating a Demat Account opening is easy and can be finished quickly.

You may begin by sending the essential papers, which include a PAN Card copy, ID proof, residence proof, bank statement evidence, income proof for F&O, a passport-size photo, and your signature on white paper.

FlatTrade account opening process includes obligatory in-person verification (IPV) before the account can be successfully authorized.

How do you open a Demat account in FlatTrade?

If you want to know how to open a Demat Account with FlatTrade, follow these steps.

1. To start, you need to hit the “open demat account” tab at the end of the same webpage.
2. A form will open before you fill it out.
3. You will receive a call shortly from the company’s executive, and they will help you with further procedures.
4. The KYC documents you must provide will be listed in the form. You can also take the support of the executive if there are any issues.
5. Submit the account opening form along with the KYC document.
6. Your account will be opened once your information is verified.
7. Upon verification, you will receive a confirmation email from the company.

How to Open a FlatTrade Demat Account? Offline Process

For people who like to work traditionally, here is the detailed process of how to open a FlatTrade Demat Account offline.

1. Fill up the required details accurately and attach the form with the needed documents, such as a colour copy of your PAN Card, identity proof, address proof, bank account proof, income proof for F&O, a passport-sized photo, and a signature on plain paper.
2. The well-trained staff at branches will help you every step of the way and ensure that every check and verification is conducted correctly.
3. The offline process is more personal and addresses investors keen on person-to-person interactions in their financial transactions.

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First, it is necessary to collect the required list of documents to open a FlatTrade Demat account.

• You must also have a copy of your PAN Card, as financial transactions are complete.
• You must also provide documents showing your identity, address, and bank account. Having income proof specific to F&O, a passport-size photograph, and your signature on white paper.
• The procedure includes verification of the authenticity of the information by an in-person verification (IPV).

How to Close FlatTrade Demat Account?

The closing procedure of the Demat account system is quite simple and has been set up for investors’ convenience.

If you want to know how to close FlatTrade Demat Account, follow these steps:

1. First, you should go to the local branch of FlatTrade, fill out the relevant form, and ask to close the account.
2. You must ensure that you bring all the necessary documents, such as your account details and any documents that need to be completed.
3. The brokers team will help you throughout the process to ensure all formalities are completed correctly.
4. An essential characteristic of shutting a Demat Account is that account closure charges do not apply.

This matches the determination to offer users a transparent, investor-oriented (friendly) two-sided trading platform.

FlatTrade Demat Account Review – Conclusion

FlatTrade is a good option for beginners and experienced traders looking for a cost-effective way to trade stocks.

However, it is essential to note that FlatTrade Demat Account only offers one trading platform and does not have some of the features other brokers offer, such as research reports and advanced charting tools.

If you are looking for a simple and affordable way to trade stocks, this broker is a good option. However, consider another broker if you need more features or research.

FAQs on FlatTrade Demat Account Review

At the end of our review, let us check out the FAQs about FlatTrade Demat Account.

How do you create a Demat account in FlatTrade?

To create a Demat Account, click the “open demat account” button. You will receive a call shortly, and they will guide you further.

How to Delete FlatTrade Account?

Contact the customer support to start the account deletion process.

What is AMC in FlatTrade?

AMC refers to Annual Maintenance Charges, and the broker offers free AMC.

What are Account Opening Fees?

The account opening fees are Rs.200.

How do you find the Demat account number in FlatTrade?

You can find the Demat account number by logging into your account and then navigating to the profile section. There, you can see your Demat account number.

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

You can access your statement of demat Holdings by accessing your account, going to the holdings section, and downloading the statement of demat holdings.

What documents are needed to open a Demat account?

The mandatory documents needed to open a Demat account include a PAN Card, identity proof, address proof, bank account proof, income proof for F&O, passport-size photo, and signature on white paper.

How much time does it take to open a Demat Account?

This Demat Account typically takes a short processing time, and you will receive your account details once the process is complete.

How do you change your bank account in FlatTrade?

Contact their customer support if you need to update your bank account details. You can contact them through email, phone, or any other way they provide.

Just follow their instructions and guidance on changing your bank account details. The customer support team is there to assist you and ensure everything is set up how you need it.

How do you transfer shares from one Demat Account to FlatTrade Demat?

To initiate the transfer of shares from a Demat account to a FlatTrade demat, the client must submit the DIS copies to the branch.

Verification of signatures is essential, and once completed, your account will be seamlessly moved to the desired depository.