SAMCO: account opening process online, fees, forms

Opening a Demat and trading account with SAMCO is relatively straightforward. Head to its website, click on the open an account option and enter the respective details while submitting all the necessary documents. Once submitted, a video verification will be undertaken. After that, the account will be created after successful verification of all the entered documents.

SAMCO is an online discount broker that offers investors and traders to trade in NSE, BSE and MCX for the segments of commodity and stocks. The stockbroker’s highlights are the ultra-low brokerage fee, which is capped at 20 rupees per trade irrespective of quantity. However, if you’re looking to open a demat and trading account, then the following steps will guide you into opening one.

Steps in Opening a Demat and Trading Account

1. Head to the official website of SAMCO and click on the “open an account” option that should be present on the top of the page.
2. Once you click on the option, you should be presented with three fields asking for name, email address and mobile number. It’s for signing up to the website.
3. Then create the password with the fields presented. Choose a strong one.
4. Moving forwards, your PAN card details have to be entered.
5. Once entered, click on next, and then you will have to enter all the fields where you name, fathers name, gender and other things.
6. Enter the address details.
7. Later a verification of email will be prompted.
8. Enter the bank account details.
9. Later choose the type of account and the segments in which you want to trade.
10. Following which you will have to submit the prompted documents as soft copies.
11. Once that’s done, you will have to verify the entered information and then verify your Aadhar card details as well.
12. A final overview of the entered information will have to be verified and then submitted.
13. Once submitted, you will get a prompt for an in-person verification which is done through a video call.
14. After that, your account will be created in a couple of hours if all the entered details are true and accurate.

SAMCO Review

The stockbroker offers a straightforward account opening process where there aren’t any physical documents required. Everything is done online, making the process smooth. The account opening is done for free, while the account maintenance charges are reasonably priced.