What does Pure Broking offer?
At Pure Broking, you can open both demat as well as trading accounts either independently
or at the same time. This is called a two-in-one account. Pure Broking also offers
a three-in-one account – demat, trading as well as a bank account, together with
Kotak Mahindra Bank Limited. This means, you won’t have to open three accounts separately,
but instead do so with a single application form. Also, you won’t have to manually
transfer money to your trading account from your bank account. The required funds
get credited automatically.
Here are some things to know about demat account
There are three key requisites for trading in the stock market – a bank savings
account, trading account and a demat account account. When you buy a share, you
own a portion of a company’s assets. To prove your ownership, you are given a certificate.
Today, this certificate is electronically available in your demat account or demat_accounterialized
For this reason, the first step of trading in the equity market is creation of a
demat account . There is a central database of all demat account accounts. It is
called a depository.There are two depositories – CDSL and
Banks, brokers and financial institutions are empowered to offer demat account services.
They act as the intermediary between the central depository and the investor, and
are called depository participants (DPs). This means, CDSL and NSDL hold details
of your shareholding on your behalf, just like banks hold your money in different
kinds of accounts.
Just like the demat account, a trading account is a must for investing in the stock
market. You register for a trading account with a stock broking firm. Each account
comes with a unique trading ID, which is used for conducting transactions. To conduct
a trade, you deposit some money in your trading account. This is linked to your
demat account. Using the money in your account, you place an order for a stock.
Once the order is processed, the stock exchange identifies that the order belongs
to you using your unique trading ID. It then forwards the shares to your demat account
At any time, your demat account reflects the details of your portfolio. This includes
stocks, bonds, mutual fund units, Exchange Traded Funds (ETFs)
, as well as government securities in electronic form. So, whenever you invest by
buying stocks, it will be credited to your demat_account account. Similarly, if
you sell any of your holdings, these will be removed from your account.
NO MINIMUM BALANCE
A bank account requires a minimum balance. However, this is not so for demat_account.
There is no minimum number of securities required to keep the account rolling.