What attributes to look for in the DP while opening a Demat Account?

If you are keen on stock trading, you need to have both Demat as well as a trading account. Short form for a dematerialised account, Demat converts your physical shares into electronic form, keeping all investments safe in one place. Moreover, you can hold, withdraw, and deposit all kinds of market instruments like shares, Government securities, mutual funds, exchange-traded funds, and money market instruments, etc. As a prudent investor, it is natural for wanting the best Account, which makes the transactions easy.

So, here are some attributes to look for in a broker or DP –
•    Multiple platforms for transactions

One of the many attributes to consider in a broker or DP offering the Demat Account is the platform on which you can conduct transactions. All brokers today have a website as well as apps for the convenience of the consumers. You can log into these devices and conduct the transactions. You can learn about trading; only then do they pass the test of a good broker or DP. Also, it enables you to conduct trading remotely, as well.

•    Friendly user interface

Although the user interface is not much of a challenger amongst the youngsters or tech-savvy investors, older ones could face troubles navigating through the platform or the apps of the DP. Brokers who offer such mediums with a simple and hassle-free interface, with easy access to information, are most sought-after according to the investors.

•    Should meet the trading needs

The best Demat Account is the one which meets your trading requirements in one platform. The best way to find this is by opting for a DP who offers both Demat and Trading Account. The entire process, right from the opening of Account to conducting transactions, becomes seamless and secure. Most of the firms today offer these two-in-one services. Some are also providing three-in-one deal which is inclusive of the bank account. This way, you face no difficulties in tracking the investments.

•    Dedicated customer service

A decent brokerage firm also offers a dedicated representative who is accessible and solves your concerns such as transactions, etc. The representative should be the go-to person for all types of transactions and sometimes may provide doorstep services. They also encourage you to broaden the investment horizons depending on your financial goals.

•    Research reports and trading tips

The best Demat Account broker is one who offers customised new reports, which matches your financial goals as well as risk levels. Brokers also offer transaction reports which help you understand the performance of a fund over a period along with future predictions.

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