Free Trading + Demat Account

Edelweiss Open Account | Account Opening Process Review


2% 122,784 Clients

Edelweiss Broking Limited is a SEBI registered financial services company offering stock trading services since 2008. The company is a member of BSE, NSE, MSE and NSDL. It offers its services online as well as through its 475 offices located across 200 locations.

Edelweiss offer website based trading (www.edelweiss.in) and mobile trading app to all its customers for free. Both of these are technically advance trading platform offering exceptional trading experience and tools.

Edelweiss TX3 is the flagship trading terminal for frequent traders. The platform is also available for free to all its customers. Edelweiss customers can use the platform to trade across equities, derivatives, and currency. The platform can also be used to invest in Mutual Funds and Gold ETFs also.

Key Facts about Edelweiss Broking

  • 10+ years of industry experience since 2008
  • Part of Edelweiss Group, a leading financial services conglomerate
  • 475+ offices in over 200 locations
  • 12,00,000 lakh client base
  • 11,938 employees
  • Provides access to advanced trading platforms
  • Member of SEBI, BSE, NSE, MSE, and NSDL
  • Provides research and investment advisory services

Products Offered by Edelweiss Financial Services

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MSE
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Mutual Funds
  • Gold ETFs
  • Fixed Income Products

Edelweiss Account Types

Edelweiss offers 3 types of account types to suit the varied needs of the traders.

  1. Standard Brokerage Plan

    A full service brokerage plan which includes personalized service for customer.

  2. Advance Subscription Prepaid Brokerage Plan

    It is a full service brokerage plan for frequent traders. The customers have to pay a lump sum amount upfront for 12 months. This plan offers local relationship manager, very higher leverage, research, trading calls and relatively low brokerage fees.

  3. Discount Brokerage Plan for Online Trading*

    This online trading plan is for customers who are looking for low cost trading platform and require very little help from the broker on day to day basis. This plan offers equity trading at low brokerage fee of 0.01% for equity (delivery & intraday) and Rs 5 per lot for F&O.

    *Applicable to selected clients & subject to change without prior notice


Edelweiss Broking Account Opening

Edelweiss has both online and offline account opening process. You can use it to open a trading and demat account from anywhere.

Online Account Opening (Instant Paperless Account)

You can open an Edelweiss trading and demat account from its website and mobile app. The process is easy and it takes a few minutes to apply for an account. All resident Indians and NRIs residing in GCC countries (Gulf Countries), Australia, New Zealand, Hong Kong, Singapore, and the UK are eligible to open an account with Edelweiss.

If you have all the documents in hand, the process should not take more than 15 minutes. They will visit you in person to verify your documents.

Steps for Instant Account Opening:

  1. Click on the Open an account button on the top menu of the website or from Edelweiss Mobile Trader app to begin the account opening process.
  2. Enter your E-mail ID
  3. Provide your PAN number and DOB for KRA verification
  4. Enter your name, address and mobile number. If you are KRA verified, the data will be prefilled.
  5. Enter the details of the bank you wish to link with the trading account
  6. Provide other requested information like education, occupation, etc.
  7. Confirm your brokerage plan
  8. Upload your documents. In case you are facing issues uploading documents then you can send the documents via WhatsApp or Email.

On receiving the documents, a company representative will contact you to complete the in-person verification (IPV) as per the KYC (Know Your Customer) regulation.

(KRA – KYC registration Agency, maintains KYC details of an individual. If a person is KRA verified, it means his details are already saved with the SEBI/Registrar.)

Offline Account Opening (Paper forms)

In case you are unable to open an account online then you have the option to open an account offline. The offline account opening process involves filling a form, attaching required documents and submitting it to the company's branch offices or sending it to the company address. You can get the form from the company's branch office in your city.

Documents needed for account opening

You would need following documents to open the trading and demat account:

  • Proof of Identity - PAN Card (Mandatory Id proof)/ Aadhar Card/ Driving License/ Passport/ Voter Id
  • Proof of Residence - Aadhar Card/ Driving License/ Passport/ Voter Id etc
  • Bank Account Details - Personalized signed cancel cheque or last 3 months Bank Statement or updated Passbook
  • One passport size photograph.

Note that additional document such as proof of Income may be required in case you would like to trade in derivative segments.

Check Account Opening Status

Once the complete documents are received and verified by the company, your account is activated within 24 hours. In case of a delay, please get in touch with the customer support team via call/email to know the status of the company.


Edelweiss Broking Account Closure Form

Edelweiss Broking offers 2-in-1 trading and demat account facility. If for some reasons, you don't need these accounts, then you can close the accounts anytime.

Before you initiate the account closure process, please make sure to do the following things:

  1. Empty your demat account by transferring all your securities into another account.
  2. Close all the open positions placed from this trading account.
  3. Clear all unpaid dues, if any, with the broker.

The trading and the demat account cannot be closed online or through email or phone calls. You will have to fill the account closure form to close your Demat and Trading account with the company. For joint demat accounts, all account holders of the account, need to sign on the account closing form.

Steps to Close Edelweiss Broking Account

  1. You can get the soft copy of the account closure form by calling/writing to the customer support team. The account closure form is also available with your Relationship Manager or you can get it from the branch nearest to you.
  2. Print, fill the required information and sign the account closure form.
  3. Send it to the Edelweiss Broking office or submit it to your nearest branch.

You will receive account closure intimation along with the final statement of the accounts.

If you do not get account closure intimation in 15 days, please contact the customer support to check the status and follow up.

Edelweiss Account Opening Charges

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

  • Edelweiss Account Opening Charges (Trading Acct): ₹750
  • Edelweiss AMC Charges (Trading Acct): ₹0
  • Edelweiss Account Opening Charges (Demat Acct): ₹0
  • Edelweiss AMC Charges (Demat Acct): Free (₹500 2nd year onward)

Frequently Asked Questions

  1. 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.

    Discuss this question

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

    Following self-attested documents are required:

    • Proof of Identity- PAN Card (Mandatory Id proof)/ Aadhar Card/ Driving Licence/ Passport/ Voter Id
    • Proof of Residence- Aadhar Card/ Driving Licence/ Passport/ Voter Id etc
    • Bank Account Details- Personalised signed cancel cheque or last 3 months Bank Statement or updated Passbook
    • One passport size photograph.

    Discuss this question

  3. 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.

    Discuss this question

  4. 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.

    Discuss this question

  5. 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.

    Discuss this question

  6. 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.

    Discuss this question

  7. How to close Edelweiss Demat account?

    Edelweiss offers both demat and trading account to its customers. For any reason, if you are not using your account for trading, it's better to close it to avoid any yearly fees like transaction or maintenance charges.

    Steps to follow for account closure:

    1. To get the account closure form you can call on their toll-free number (18001023335) or email (helpdesk@edelweiss.in) them to get the soft copy of the form.
    2. Print it, fill it and duly sign it.
    3. Submit the hard copy to the nearest branch. It's a completely offline process so to process the account closure it's mandatory to submit the hard copy of account closure form. It takes around 7 days to process the closure request.

    Note:

    1. There are no charges involved for account closure.
    2. It's required to clear any outstanding debit balance before submitting the closing request. If there is any credit balance they will issue the cheque on closure the account.
    3. If there is any stock holding in your account, they have to be transferred in another demat account before closure request.
    4. The full and final closure is depending on settlement of DP dues, Current month transaction and trading ledger balance.

    Similar Questions:

    1. How to close Edelweiss account
    2. How to delete Edelweiss account
    3. How to inactivate Edelweiss demat account

    Discuss this question

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

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Information on this page was last updated on Thursday, February 7, 2019


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