Share Mart Account Type

Share Mart offers several types of brokerage accounts to cater to different investor needs. The main account types include:

• FCNR Account: A Foreign Currency Non-Resident account that is maintained in foreign currencies such as USD, GBP, EUR, and JPY, specifically as fixed deposits. The principal and interest earned are repatriable.

• NRE Bank Account: A Non-Resident External account maintained in Indian Rupees, available in both savings and fixed deposit forms. Both principal and interest earned are repatriable.

• Portfolio Investment Scheme (PIS): This account allows Non-Resident Indians (NRIs) to trade in the secondary stock market with repatriation from NRE PIS accounts and on a non-repatriation basis. Demat accounts can be opened with the signatures of a Power of Attorney (POA).

• Cash Account: A basic account type where investors fund their accounts with cash and use that money to purchase and sell securities without borrowing.

• Margin Account: This account allows investors to borrow money from the broker to purchase securities, using the securities in their portfolio as collateral.

Share Mart Broker Account Opening Process

To open an account with Share Mart, follow these steps:

• Choose a Broker: Ensure the broker is registered with SEBI and review the services and charges offered.

• Fill Out the Application: Complete the online account opening form along with the KYC (Know Your Customer) form.

• Submit Required Documents: Provide identity proof (like PAN and Aadhaar), address proof, income proof, and bank account details for verification.

• Verification: The broker will verify your documents and account details. Upon successful verification, you will receive your account credentials via email.

• Link Your Bank Account: You may need to link your bank account with the trading account for seamless transactions.

• Initial Deposit: Some brokers may require an initial deposit to start trading.

• Start Trading: Once your account is active, you can begin researching investments and placing trades.

By following these steps, you can easily set up a Share Mart brokerage account and start your investment journey.