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Alice Blue Open Account | Account Opening Process Review


Alice Blue is a SEBI registered financial service provider offering stock broker service since the year 2006. Alice Blue is a member of BSE, NSE, and MCX. Alice Blue offers its services online as well as through its 15 branches located across major cities.

Alice Blue is famous for its F20 brokerage plan. This discount brokerage plan offers brokerage free equity delivery trading. They charge flat Rs 20 per trade maximum brokerage for all other segments.

ANT (Analysis and Trade) is the flagship online trading platform offered by Alice Blue. ANT is built by TradeLab. TradeLab's trading platform is used by top share brokers like Zerodha and Religare. The ANT trading software's are user-friendly trading and research application which runs on desktop, browser and mobile devices. ANT is available for free to all its customers.

Facts about Alice Blue

  • Offering a range of financial services for over 12 years. In business since 2006.
  • Member of SEBI, BSE, NSE, MCX, and CDSL.
  • Well recognized brand in south India.
  • Strong presence in PAN India with 15+ branches and a strong network of sub-brokers.
  • Offer most advanced trading software (Trading Platform by Tradelab).
  • Lifetime free AMC on the demat account.

Product Offered by Alice Blue Financial Services

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX and NCDEX
    • Currency Trading at BSE
  • Depository Services (Demat Account)

Alice Blue Account Opening

You could open an account with Alice Blue in 3 simple ways:

  1. Online Account Opening (Instant Paperless Account)

    Instant online paperless account opening allows you to open trading and demat account in just a few minutes. This process is integrated with eKYC and Aadhaar. It doesn't require printing, signing or sending the paper forms to the broker.

    Steps of Instant Account Opening:

    1. Fill in your personal detail (PAN, DoB and Aadhaar Number)
    2. Validate your information pulled from KYC Database.
    3. Fill in your Bank Account detail. (Account Number and IFSC Code)
    4. Upload documents (Scanned)
    5. Pay account opening fee online.
    6. E-Sign your forms using Aadhaar OTP verification.

    If you have all the information and scanned documents in hand, the process takes just a few minutes. Once you submit the online form, it goes for a manual verification. If everything is fine, the account is opened the same working day.

  2. Visit Alice Blue Branch Offices

    Alice Blue has over 15 branches located across major cities. You could visit any of these branch offices and complete account opening process.

  3. Request Account Opening Forms

    If none of the above options work for you, it is suggested to call Alice Blue customer service to request for the account opening forms. You could fill these forms, sign them, attached required documents and send it to Alice Blue office address mentioned in the address.

Documents needed for account opening

For a retail individual account, following documents are required to open the trading and demat account:

  1. AADHAR Card
  2. PAN Card with photo
  3. Address Proof
  4. Latest Bank Statement with IFSC/MICR Code
  5. Canceled Cheque
  6. Passport Size Photo

Note that additional documents are required in case you would like to trade in derivative segments.

Check Account Opening Status

It takes up to 2 working days to open an account once the account opening application is submitted to the broker (online or offline). You can track your online application on the same online account opening website. In case you need further assistance, please call customer services or visit your branch.

Account Opening PDF Forms

Most people prefer to open an account online. It is a fast, paperless, error-free and convenient way to open the account.

If for some reason you cannot open an account online, you could open an account by downloading the PDF account opening form from its website. The sample form is also provided in the download section of the website for guidelines.

Alice Blue Account Opening PDF Forms can be downloaded from the following webpage: https://www.aliceblueonline.com/downloads/

Alice Blue Account Closure Form

Alice Blue offer trading and demat accounts. If you don't need these accounts, you could close them anytime.

Before you request the account closure, please ensure:

  1. Make sure that you don't have any holdings (shares or mutual funds) in your demat account.
  2. Close all open F&O positions in your trading account.
  3. Clear all dues with the broker.

Note:

  • The account cannot be closed online or through email or phone calls.
  • The physically signed application is required.
  • If there are multiple account holders on the account, each one has to sign on account closing form.

Steps to Close Alice Blue Account

  1. Download PDF 'Account Closure Form' from its website under section 'Download > Others'
  2. Print, fill and sign the account closure form.
  3. Attach a self-attested copy of your ledger.
  4. Attach the left out DP Slips, if any.
  5. Sent it to the Alice Blue office or submit it to your nearest branch.
  6. Get the receipt from the broker if you are submitting this request at a branch.

Note:

  • The application is processed within 3 days of the form receipt.
  • The balance fund (if any) is transferred to the designated account mentioned in the account closer form.
  • The account closure intimation and final statement of the accounts for the fund and demat holdings are sent to the client.

Note that follow-up for account closure is important. If you do not get confirmation in 15 days, contact the customer support to check the status.

Alice Blue Account Opening Charges

Customer pays account opening fee for trading account opening with Alice Blue. The account opening fees are as below:

  • Alice Blue Account Opening Charges (Trading Acct): Equity ₹310 | Commodity ₹120
  • Alice Blue AMC Charges (Trading Acct): ₹0
  • Alice Blue Account Opening Charges (Demat Acct): ₹0
  • Alice Blue AMC Charges (Demat Acct): ₹0

Frequently Asked Questions

  1. 1. How long does it take to open an account with Alice Blue?

    The online account can be opened instantly if you are eKYC complete and your Aadhaar is linked to correct phone number.

    In case of the signed paper forms sent to the broker, the account is opened in 24 hours once they receive the form. The account opening status can be checked online.

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  2. 2. What all documents are required for account opening with Alice Blue?

    Following self-attested documents are required:

    • Aadhaar Card (Proof of Identity)
    • PAN Card (Proof of Identity)
    • Latest Bank Statement with IFSC/MICR code and address (Proof of Address)
    • Canceled Cheque (to link the bank account with the trading account)

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  3. 3. Why does Alice Blue ask for a Power of Attorney (PoA) for the demat account?

    The PoA gives limited rights to Alice Blue to withdraw shares from your demat account to settle the sell transaction in your linked trading account. Without PoA, the broker cannot withdraw the shares from your demat account and thus cannot complete the sale transaction.

    Signing PoA is preferred but optional. If you do not wish to sign PoA, you will have to manually transfer the shares to the broker for settlement every time you sell the shares. This is done by submitting the paper delivery instruction slips (similar to cheque in a bank account).

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  4. 4. Who can open an account with Alice Blue?

    All resident Indians and Non-Resident Indians (NRIs) can open an account with Alice Blue.

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  5. 5. How do I know if my trading account is opened with Alice Blue?

    You will receive a welcome email and a call once your account is opened. This welcome email also has the credentials and instructions to login on to trading applications and back office.

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  6. 6. Is there a minimum balance required in my Alice Blue trading account?

    No, there is no minimum balance required. You can move the money in your trading account as you need it and withdraw any additional cash in your trading account.

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  7. 7. How to close Alice Blue Demat account?

    Demat account is a must for all investors who wants to do trading in the stock market. One person can keep up to 5 demat accounts. That account comes with own annual fees and maintenance charges. So it's wise to close any zero balance or inactive demat accounts.

    Steps to close demat account:

    1. To close the demat account; you need to fill the closure form. You can either download it from DP's website by clicking on Download--->Demat Account Closure Request Form or click here to get it.
    2. Print the form, fill it and submit it along with your id proof and address proof. You can submit those documents to the nearest branch or courier it to the mentioned address on the form.

    Things to do before submitting the form:

    1. The account holder should settle all payments before closing. Also, the account should not hold any securities. If there is any, they have to transfer in another demat account.
    2. If more than one person holding the demat account then all holders must sign the closure form.
    3. All unused DIS booklet should return to the DP.

    After submitting all the documents, it takes 7-10 working days to close the account. There are no charges associated with account closure.

    Discuss this question

Information about Alice Blue account opening, Alice Blue open account, Alice Blue opening charges, Alice Blue account opening charges, Alice Blue account opening status, Alice Blue amc charges, Alice Blue account charges and Alice Blue account closure.

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Information on this page was last updated on Thursday, September 5, 2019


2 Comments

shashi
2. shashi  Jul 25, 2019 12:49 Reply
I think your experience is bad with aliceblue. I am using upstox and really its wonderful. Their support team is also well. If you like to open then open in upstox here i am giving you direct account opening link - https://upstox.com/open-demat-account/?utm_source=refernearn&utm_medium=referral&landing_page=ReferAndEarn&f=KMLV
ishan sharma
1. ishan sharma  May 8, 2019 13:12 Reply
the service alice blue iw worse i opened ekyc accountbut i take 6days for it and after that they not active NSE CASH and ask POA COMPULSORY . they provide information that NSE CASH ativated on my account only after 15 days. ONly activate FNO . i dont think they are good service provider .



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