Open Nuvama (Edelweiss) Account (Nuvama (Edelweiss) Account Opening Process, Documents and Charges)

Nuvama (Edelweiss) Account Opening Charges 2023

Nuvama (Edelweiss) account opening charges are Rs 0 (Free) for a trading account and Rs 0 (Free) for Demat account. Nuvama (Edelweiss) charge Rs 500 (1st Year Free) AMC for Demat account.

1. 1. How to open Edelweiss Trading Account?

   Edelweiss broking offers complete online account opening to customers who have Aadhar linked to the current phone number for OTP verification. For others, the account opening form has to be printed, filled, signed and sent to the Edelweiss Mumbai office.

   Steps to Open Edelweiss Broking Account Online

   1. Visit Edelweiss website or download Edelweiss Mobile Trader app.
   2. Click on the 'Open an account' button.
   3. Enter your PAN number and DOB.
   4. Enter or validate your name, address, and mobile number.
   5. Enter details like bank details and personal information etc.
   6. Choose the brokerage plan.
   7. Upload scanned copies of your documents.
   8. Submit the application form.

   On weekdays, your account is opened in just a few minutes on successful verification of the form and documents.

    

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2. 2. Is Edelweiss a Discount Broker?

   Edelweiss is traditionally a full-service broker offering personalized services since 2006. To compete with discount brokers, Edelweiss launched online trading at ultra-low brokerage (i.e. Rs 10 per executed order) with limited or no personal support like discount brokers.

   Edelweiss offers 2 brokerage plans;

   1. Edelweiss Lite (Discount) is a fixed brokerage plan (Rs 10/order) for online trading only.
   2. Edelweiss Elite (Full-service) is a traditional % based brokerage plan with personalized services. This plan offers a wide range of services including research, advisory, relationship managers, PMS, local branch support,

   Read Discount Broker vs Full-Service Broker in India

   Discount Stock Broker

   A discount stock broker has the following key features:

   • Services limited to broking. No research & advisory.
   • Offers its services online.
   • Offers a flat, fixed fee brokerage plan.
   • Limited physical presence.

   Zerodha, 5paisa and Prostocks etc., are some of the popular discount stock brokers in India.

   Full-service Stock Broker

   A full-service stock broker has the following features:

   • Offers both online and offline services
   • Offers research advisory and other investment services
   • Offer percentage based brokerage plans
   • Branch offices at multiple locations
   • Dedicated RM support

   Popular full-service stock brokers in India include ICICI Direct, HDFC Sec and SBI Capital.

    

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3. 3. How to close Edelweiss account?

   Edelweiss's account can be closed by submitting a hard copy of the account closure form to the branch or Relationship Manager. The Edelweiss account cannot be closed online or by email or on call. It takes 7 business days to close the account once the request is received.

   Steps to close Edelweiss account

   1. Contact Edelweiss and get the account closure form.
   2. Fill the form with the account holder's personal, Trading, and Demat account details.
   3. Mention the reason for the closure.
   4. Submit the form at the nearest branch or send it to the address in the form.

   Before submitting the account closure form, please ensure to:

   • Clear all the outstanding dues.
   • Transfer or sell the securities from the Demat account.
   • Close all open positions.

    

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4. 4. How long does it take to open an account with Edelweiss Broking?

   The online account can be opened instantly if you are KYC compliant. In other cases, the account is opened within 24 hours of receiving the complete documents.

    

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5. 5. What all documents are required for account opening with Edelweiss?

   Following self-attested documents are required:

   • Pan card
   • Address proof - Aadhar Card
   • Personalized Cheque duly cancelled and signed Or Bank statement (Latest 3 months) that should consist of IFSC code, MICR code and account number.
   • Signature Image (If Signed Cancelled Cheque is not provided)
   • Image of passport size photograph.

    

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6. 6. Who can open an account with Edelweiss Broking?

   All resident Indians and NRIs residing in Australia, New Zealand, GCC countries (Gulf Countries), Hong Kong, Singapore, and the UK are eligible to open an account with Edelweiss.

    

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7. 7. How do I know if my trading account is opened with Edelweiss Broking?

   You will receive a welcome email once your account is opened. The email will also contain the credentials and instructions to log in to your account.

    

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8. 8. What are the segments/instruments can I invest in using the Edelweiss account?

   The Edelweiss trading account allows you to invest in Equities, Derivatives, Currency Derivatives, Mutual Funds, Gold ETFs and Bonds. At the time of account opening, you will be asked to opt for your desired segments. However, you can activate your access to other segments later by contacting your Relationship Manager or visiting the nearest Branch.

    

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9. 9. Do I need to maintain a minimum balance in my Edelweiss trading account?

   No, there is no requirement to maintain a minimum balance in your account. You can transfer and withdraw funds from your trading account as per your trading needs.

    

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10. 10. How to close Edelweiss Demat account?

    An Edelweiss Demat account can be closed by submitting an account closure form to the broker. Edelweiss closes the account within 7 to 10 business days once they receive a signed paper form for account closure.

    The Edelweiss demat account cannot be closed online or by email or on call. If there are securities in the Demat account, you need to submit the stamped and sealed Client Master List of the beneficiary Demat account along with the account closure form.

    Steps for close Edelweiss Demat account

    1. Contact your RM or call Edelweiss to get the account closure form.
    2. Fill the form as per the given instructions.
    3. Submit the form to your RM, Advisor or at the nearest branch.

    Kindly ensure to:

    • Clear all dues before submitting the account closure request.
    • Close all open positions and empty/transfer all securities from the Demat account.

     

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11. 11. How to open Trading and Demat account in Edelweiss?

    Edelweiss offers a fully digital account opening facility to its customers at zero cost.

    Steps to open Edelweiss Trading and Demat account online:

    • Go to Edelweiss homepage.
    • Click on Open an Account on the top bar.
    • Enter the below details to sign up for account opening
      • First Name and Last Name
      • City
      • Email ID
      • Mobile No.
    • Click on Verify.
    • Enter the OTP to verify the mobile no.
    • Enter your PAN No. and Date of birth and click on Proceed.
    • Verify your Email ID by entering OTP received on registered Email ID.
    • Provide Gender, marital status, father's and mother's name, educational qualification, occupation, Politically Exposed person declaration, tax declaration, annual income, and the frequency for settlement of funds and click on submit.
    • Provide your bank details and save.
    • Select your brokerage plan and segments for trading.
    • Upload income proof for F&O trading.
    • Enter your trading experience and submit.
    • Upload your photo, scanned copy of your signature and documents, and submit.
    • An Edelweiss representative will verify the documents and the E-sign button gets enabled.
    • E-sign the account opening form based on Aadhar linked mobile number.

    Points to Note:

    If the mobile no. is not linked with Aadhar, you can get the account opening documents picked up from your place. You need to check if this facility is available in your location.

     

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