Equity People Account Type

Equity People offers various types of trading accounts to cater to different trading needs. The primary account types include:

• Cash Account: This account requires traders to pay the full amount for securities at the time of purchase. No borrowing is allowed, making it suitable for conservative investors.

• Margin Account: A margin account allows investors to borrow funds from the broker to trade larger positions. This type of account involves maintaining a minimum margin balance and paying interest on borrowed amounts, which can amplify both gains and losses.

• Demat Account: Required to hold and manage securities in electronic form, a demat account is often linked to a trading account for seamless transactions.

Equity People Broker Account Opening Process

Opening a trading account with Equity People involves several steps:

• Choose a Broker: Select a reputable broker that is registered with the Securities and Exchange Board of India (SEBI) and a member of relevant stock exchanges.

• Gather Required Documents: Prepare necessary documents, including:

• Identity proof (e.g., PAN card, Aadhaar card)
• Address proof (e.g., utility bill, bank statement)
• Bank account details (e.g., cancelled cheque)

• Complete the Application Form: Fill out the account opening application form provided by the broker, which includes personal details and financial status.

• KYC (Know Your Customer) Process: Undergo the KYC process, which may require submitting physical copies of documents or completing the process online.

• Sign the Agreement: Review and sign the trading account agreement that outlines terms and conditions, including brokerage fees and margin requirements.

• Initial Deposit: Make the initial deposit required by the broker to activate your trading account.

• Verification: The broker will verify your documents and application. Once verified, you will receive your trading account details.

• Set Up Online Access: If available, set up online access to your trading account through the brokers trading platform.

• Start Trading: Once your account is active, you can begin trading by placing buy and sell orders through the trading platform.

For more detailed information, you can visit the official Equity People website: Equity People