How to Open a Demat & Trading Account with Stoxkart?

Short Answer

Follow an easy account opening process with few basic requirements to complete for getting your Stoxkart demat and trading account opened. If you have your PAN card copy, AADHAR, bank proof ready, it's all the more easy to open your demat and trading account online in an easy manner. Here we explain a detailed step by step process of how to open a trading and demat account with Stoxkart.

Detailed Answer

Stoxkart is a subsidiary of the global broking company SMC Global Stockbrokers dealing in various investment solutions since 1994.  It was introduced as the first-ever stockbroking company that says-pay brokerage only when you make profits!

The USP of this company is providing affordable broking solutions in comparison to other discount stock brokers. Stoxkart began operation just last year with its base set up in the capital city, Delhi.

Below illustrated is a step-by-step process of opening an account with Stoxkart.

Stoxkart: Account opening process

An easy account opening process with few basic requirements to complete for getting your account ready.

Step 1: Stoxkart Demat Account Sign-up

Visit the website and click on the 'open an account' button. You will be redirected to a page where you are required to fill in the basic details like your email ID and mobile number and hit 'send OPT'.

The broker will send a one-time password to your registered mobile number or Email ID. This will get you started on the verification process. Sign up is complete.

Step 2: Verification Process

The next step requires you to fill in your pan card details which is a unique 10 digit code displayed on your pan card. Click on next to move to the further steps.

Step 3: Scheme Selection

Now you would be required to select a plan according to your needs. If you choose a free plan you can move ahead from here. However, if you opt for a premium plan then payment would be required at this step. Please note that while paying, you can apply various promo code options given by the company and avail exciting discounts on plans.

Step 4: Make the Payment

After selecting the scheme and the mode of payment, enter your bank details to move further in the account opening process. There are several modes of payment accepted such as Debut/Credit card, Net banking, UPI, and Paytm.

Step 5: KRA Verification

It stands for KYC (know your customer) Registration Agency, affiliated with the SEBI, that is responsible to keep records of KYCs on behalf of the government and capital markets. In this step, Stoxkart will provide a form in which you have to fill up details like your current occupation, educational background, annual income, marital status, etc.

After completing this form you would get congratulations pop up for being KRA verified.

Step 6: Documents

In the next step, you would be required to provide the E-copy of some documents like a passport-sized photograph, PAN card, scanned signature, address proof (can be Aadhar card or any other address proof), and bank proof. Click on submit after uploading all the documents.

Step 7: The Sign-in Process

From here on, you will be given 2 options- sign in with E-Aadhar and offline sign in. You can choose to continue online or offline according to your convenience. Let us look at both scenarios:

Scenario 1: E-sign with Aadhar

If you opt for the online sign-in, you must have your Aadhar card linked with your mobile number. At this step, you will be required to put in your unique 12 digit Aadhar number. It will send an OTP to the mobile number linked with the given Aadhar card number.

Enter the received OTP in the given box and click submit. In online account opening with e-sign you can simply upload your documents and complete the verfication online. This officially completes the E-sign in process with stoxkart.

Scenario 2: Offline Sign Up

In case you do not have an Aadhar card linked with your mobile number, you may opt for this method. For the offline account opening process, IPV (in-person verification) is required.

For this, you need to print the documents, along with the offline form available. Fill them in the required details and courier to the Stoxkart head office.

The documents required in this scenario are:

1.PAN card

2.Aadhar card

3.Signature on a blank page with black/blue ink

4.Bank account details such as IFSC code, bank account number, and MICR code)

5.Any form of income proof (bank statement, recent income slip, etc.)

Was that helpful? Do let us know in the comments below!

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Discussion (1)

    The process is really convenient and the paperwork is also very less, which can be done by using very less number of steps. I have used the offline method for opening my account in Stoxkart.

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