Goldmine Stocks Demat Account – Find Opening Process, Charges, AMC & more
Goldmine Stocks is a stock trading company that operates on multiple exchanges like NCDEX, NSE, ICEX, MCX, BSE, and many others.
The company is an expert in trading stocks and deal with other financial activities. So, we are here to discuss how much justiceable it is to have Goldmine Stocks Demat Account and a Trading account.
The broking house offers Demat and Goldmine Stocks Trading account at a reasonable fee. Of course, we will discuss the fee structure in detail later.
Alongside that, we will also discuss the procedure to open the Demat and Trading accounts, respectively. We will also share the critical features of both accounts. Finally, we will conclude the session with our final thoughts if you should open the accounts or not.
Goldmine Stocks Demat Account
Since 1995, Goldmine Stocks has been a household name when it comes to a stock trading company in New Delhi.
Naturally, people wish to become an associate by opening a Demat account with them. So, let us describe the most notable features and benefits of opening a Goldmine Stocks Demat account:
- Firstly, you have to know that most stock trading companies be that large or small, won’t manage to deal both with CDSL and NSDL at the same time. This is where Goldmine Stocks is unique. They manage to pull off both CDSL and NSDL as their Depository Participants.
- Something you must understand that Goldmine Stocks is not a financial institution or should we say a bank. So, they don’t deal with the Savings accounts. However, if you open up a Demat account, you will get a Trading account absolutely free of cost. We will discuss the pricing structure later in this article.
- Opening a Demat account is easy when you are dealing with Goldmine Stocks. You will need some preliminary documents for the KYC verification. Again, we will discuss the steps to open up a Demat account later in this article.
- The cost involved in maintaining the accounts are minimal. You can also say that the overall pricing structure along the brokerage fee is very reasonable if you compare it with other companies nearby.
- We have already mentioned that Goldmine Stocks is good in Commodity trading apart from trading stock. But, what we didn’t say is you can also perform Currency trading, Options, Futures, Mutual Funds, SIP, and Insurance investment with one account.
- Goldmine Stocks has a capable and competent customer support team that delivers quality client support to both online and offline users.
Open Goldmine Stocks Demat Account – Fill up the Form Now!
How to Open an Goldmine Stocks Demat Account?
Basically, if you want to begin online trading, you should know that you need to inherit three accounts. First, the Demat account, the one we are discussing here.
Second, the Trading account, the one we will discuss more in this article later. Finally, the Savings accounts, which you have to open from any bank.
Now, Goldmine Stocks deals with Demat and Trading account, as we have discussed a few times now. For that, there are no account opening fee that you need to pay, however.
So, here are the steps that you need to follow to open a Goldmine Stocks Demat account:
- Click on the button that says “Open Demat Account”, then fill up the form and click “Submit”
- You will soon receive a call from an agent of Goldmine Stocks directing you towards a link of EKYC.
- Enter in the details of identity as asked and the bank details as well. The basic details would be , Aadhaar card, Pan card, date of birth, account number and IFSC code.
- You need to submit all the documents whatever the form is asking for in scanned copy format. This is crucial to complete your KYC verification process, i.e. the Aadhar card, Pan card, passport size photo and cancelled cheque.
- When you sign and submit the form using your Aadhaar card, you will receive a call from the executive regarding the status of the application.
- Once that is done, they will send you a welcome email containing all the necessary login credentials. You can assess you accounts to begin trading there after.
Goldmine Stocks Demat Account Charges
|Goldmine Stocks Demat Charges|
|Depository Participant||CDSL & NSDL|
|Account Opening Charges||Rs.330|
|Demat AMC||Rs.250 per Annum|
|Margin Required||Minimum Rs.10,000|
Generally, when you try to open up a Demat account, it involves a cost, the Goldmine Stocks Demat Account charges.
Interestingly, if you open a Demat account that also consists of a Trading account with Goldmine Stocks, you can open it for free as there is no Goldmine Stocks account opening charges applicable.
Yes, there is an AMC fee involved with the Demat account that we will explain it a bit later. We already know that the Depository Participants are both CDSL and NSDL.
Another compelling reason that should make any new trader happy is that there Zero margin money involved to start trading.
As it has been a standard norm for the companies to charge money upfront, Goldmine Stocks changed the trend. One final thing that you should know is that the Dematerialization of physical shares are also available to use.
Find Account Opening Charges of other Stock Brokers
Goldmine Stocks AMC or Annual Maintenance Charges
The Annual Maintenace Cost is a written contract where the seller of a particular product or service is obligated to provide after-sales support for a year. The buyer has to pay an annum fee for that.
Now, if we come here, Goldmine Stocks charge Rs.300 per annum for the Goldmine Stocks AMC of the Demat account, while for the Trading account, it is free.
The cost is well within the budget as most companies charge somewhat between Rs.200 – Rs.500.
Goldmine Stocks Trading Account
Goldmine Stocks delivers some compelling features for the Trading account, which is essential and critical for doing any sort of online trading.
So, here are the list of some notable features and benefits provided by Goldmine Stocks Trading Account:
- First and foremost, you need to feed this in your mind that you can’t do online trading without a Trading account. So, as a trader, you can’t buy or sell a stock share without owing a Trading account, neither you can cancel a bid.
- With competent email and call support, the customer care support of Goldmine Stocks is top-notch. They offer services from 380 branches all around India to both online and offline traders.
- You can do Commodity trading, Currency trading, Options, Futures, Mutual Funds, SIP, and Insurance. Now, without a Trading account, you can’t do all this.
- Of course, Goldmine Stocks is offering free Trading account opening. On top of that, there no AMC fee as well for the Trading account.
Goldmine Stocks Demat Account – Conclusion
What you should understand is that no company is flawless. Goldmine Stocks has quite some loopholes. The most common grievances are the number of complaints issued against them over the years.
However, what we must realize is the fact that what they are offering is quite lucrative and intriguing.
So, in our verdict, you should give them the benefit of the doubt and open a Goldmine Stocks Demat Account and Trading account with them. They are experienced, and the price they charge are mostly okay. So, they deserve the chance.
Open Goldmine Stocks Demat Account – Fill up the Form Now!
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