Share.Market Account Opening Process Review 2024

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Open Free Demat account now! Yes, PhonePe Share.Market waived Rs 199 onboarding fees to allow free trading and demat account opening. Also, it has the lowest demat maintenance fee of Rs 15 per month. Open Share.Market trading account online using its mobile app or website. The trading account by Share.Market allows traders and investors to make equity intraday and delivery trades, derivative trading, investment in IPOs, mutual funds, and WealthBasket thematic investment products.

PhonePe Share.Market Account Opening and AMC Charges

Note: Share.Market demat maintenance fee of Rs 15 per month is charged on quarterly basis in advance. This means you will be charged Rs 45 as quarterly AMC + 18% GST.

Why Open Account in Share.Market by PhonePe?

• Zero Account Opening Charges
• Lowest demat account maintenance fee
• Instant paperless account opening with DigiLocker
• Invest in equity and derivatives segments
• WealthBasket, intelligence and research-backed basket of stocks and ETFs
• Trade at Rs 20 maximum brokerage in equity and F&O segment

How to Open PhonePe Share.Market Demat and Trading Account Online?

Share.Market by PhonePe allows you to open a paperless demat account online using its Share.Market mobile app. The broker offers a 100% online account opening process that takes hardly 5-10 minutes to open demat and trading account.

You can open an account instantly by doing a one-time KYC and finish your account setup journey.

Step-by-Step process to Open PhonePe Share.Market trading and demat account online;

1. Download the Share.Market app on your mobile phone.
2. Mobile verification: Enter your mobile number linked with aadhaar card and the OTP sent.
3. E-mail verification: Enter your e-mail ID and the email verification code.
4. PAN verification: Provide your PAN card number, accept t&c, and click on proceed.
5. Proceed to Digilocker: Share.Market uses Digilocker to fetch your documents.
6. Aadhar verification: Enter your aadhaar card number, captcha, and the OTP sent to the registered mobile number.
7. Enter 6 DigiLocker security PIN, if don't remember, click on Forgot Security PIN to recover.
8. Click on Allow access to DigiLocker and the system will fetch Aadhaar card and PAN card for verification.
9. Enter your personal details; gender, marital status, occupation, DOB, parent's name, income, trading experience, and declarations.
10. Add Nominee: Enter nominee's name, relationship with nominee, and nominee's date of birth. If you don't want to add nominee to your demat account, simply click on SKIP option.
11. Bank verification: Enter your bank account details, bank name, IFSC code, account type, and your bank account number.
12. You will receive Rs 1 in your bank account for verification.
13. Upload your selfie and add signature.
14. Select Segment: Select Equity and F&O, if you also want to trade in F&O segment.
15. E-sign: Enter your aadhaar card number and OTP sent to the linked mobile number to e-sign the account opening form.

PhonePe Share.Market Account Opening Documents

• PAN card
• Aadhaar card
• Bank account proof
• Selfie
• Signature
• Income proof to trade in F&O segment

PhonePe Share.Market Account Activation Status

Once you've completed the Share.Market online account opening process, your demat and trading account will be activated within 3 working days. After you've e-signed the form, you will receive the Client Master Report (CMR) and Account Opening Form (AOF) on your registered email address.

If your account not get activated within 3 days, raise a ticket to the support desk for activation.

How to close PhonePe Share.Market Demat Account Online?

Share.Market by PhonePe allows you to close your demat account online.

Yes, if you don't have any holdings/securities in your PhonePe Share.Market demat account, you can permanently delete or close your trading and demat account online. Steps to close your demat account;

1. Log in to the Share.Market app.
2. Go to the profile option, and click on Contact Support.
3. Select "Manage My Account" option and then account closure.
4. Download the account closure form.
5. Fill out the form digitally and e-sign it using DigiLocker by entering aadhaar number with OTP.
6. Upload the e-signed account closure form in the Account Closure ticket and submit it.

If you have shares in the demat account, upload the duly filled and signed account closure request form along with DIS form, a scanned copy of your signature, and CMR.

Alternatively, you can also courier e-signed forms to PhonePe Wealth Broking's official head office address in Bangalore, Karnataka. The discount broker quickly processes your account closure request, and it will be closed within 3 working days.