Interactive Brokers: account opening process online, fees, forms

To open a Demat and trading account with interactive brokers, users will have to download the account opening form, fill it up with the necessary details and supporting documents. Mail them and then receive a confirmation for successful account opening after verification. It’s quite a simple and straightforward process.

Interactive brokers are a US-based stock broking company with operations in India that allows trading facilities in equity, currency, and derivatives. It had memberships with the NSE and BSE while offering great trading platforms as well. If you’re looking to open an account with the stockbroker, then there is a different procedure for different account types.

Open an Account for NSE Trading only

1. Head to the official website and then start an online application for opening an account.
2. Fill in all the parameters and download the filled up application. Ensure that you attached a copy of different documents and other proofs with the application. Once you download the filled application, you will have to pay an amount for account opening charges.
3. You will need to sign all the documents with a respective witness signature and then post them to the individual address.
4. Once the documents are verified and approved, you can then open your account after receiving your login credentials.

Open an Account for Residents Trading Overseas

1. Start an online application and fill in all the details.
2. Once filled, then attach all the respective documents that are asked. You will have to fund your application once you finish entering all your details.
3. Once done, mail the documents to the given email address with the respective subject line.
4. After the mail has been sent, then you should get approval with login credentials.

Open an account for Residents Trading in NSE and Overseas

1. Head to the website and fill in all the details asked in the application. Once done, then head to the payment gateway to make the payments.
2. After that, you will have to download the documents and the application forms for the NSE account and mail them offline to the designated address with respective signatures. For an overseas account, you can mail a soft copy with scanned documents.
3. Once sent, it should take a couple of days for things to get approved.
4. After approval, users should get their login credentials.

Interactive Brokers India Review

The stockbroker offers multiple parameters in opening an account. The process takes a week to get things started. The brokerage fees are quite reasonable but do its best to offer substantially better trading tools for its users.