Rating Index

Pros

Flattrade offers zero brokerage on trades, making it cost-effective for investors.

The platform provides robust customer support and multiple trading options, including equities, derivatives, commodities, and currency trading.

There are no annual maintenance charges (AMC) or hidden fees, which simplifies the cost structure for users.

Cons

Flattrade has a limited range of trading and investment products, potentially restricting options for investors.

The technology focus is somewhat lacking, with only one in-house trading platform that has been described as mediocre in performance.

Customer service experiences can vary, with reports of slow account activation and communication issues.

FLATTRADE broker Accounts

Flattrade Account Type

Flattrade offers various types of accounts to cater to different trading needs, including:

Individual Account: Designed for individual traders, this account allows users to manage their own funds and make independent trading decisions.
HUF Account: Specifically for users who prefer to transact in the Hungarian Forint (HUF), enabling them to deposit, withdraw, and trade cryptocurrencies using their local currency.
Corporate Account: Intended for businesses and organizations, this account provides features such as multi-user access, enhanced security measures, and the ability to manage multiple sub-accounts.

Flattrade primarily focuses on providing zero brokerage services across its accounts, making it an attractive option for both new and experienced traders.

Flattrade Broker Account Opening Process

Opening an account with Flattrade is a straightforward process that can be completed online or offline. Here are the steps to open a trading account:

Visit the Official Website: Go to Flattrade's website.
Click on "Open Account": Locate the "Open Account" button on the homepage to start the registration process.
Fill in Personal Information: Provide your full name, email address, and phone number.
Verify Mobile Number: An OTP will be sent to your mobile for verification.
Provide PAN and Aadhaar Details: Enter your PAN number for verification and Aadhaar for address validation.
Bank Details: Enter the bank account details you wish to link to your trading account for transactions.
Upload KYC Documents: Upload soft copies of required documents including PAN card, address proof, bank statement (or canceled cheque), and a signature on white paper.
E-Sign the Form: Verify your Aadhaar with the OTP sent to your registered mobile number and e-sign the application form.
Confirmation: Once your application is approved, you will receive a confirmation email with your account details.