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SAMCO Open Account | Account Opening Process Review


Incorporated in 2015, SAMCO is a Mumbai based Online Stock Broker. SMACO offer low-cost brokerage services. SMACO is a retail-focused discount broker for trading at NSE, BSE, and MCX. The broker also provides leverage products for delivery funding (margin funding) and margin against shares in demat account. SAMCO is a depository member of CDSL through which it provides demat account related services.

SAMCO is trading member of NSE, BSE, and MCX, depository participant of CDSL and SEBI registered broker.

Facts about SAMCO

  • Member of SEBI, NSE, BSE, and MCX since 2015.
  • As of May 2018, SAMCO has over 50,000 customers from 2000+ cities across India.
  • Among very few discount brokers who offer margin funding and margin against shares.
  • Offers the highest leverage among discount brokers.
  • Mobile trading app StockNote is built on proprietary Giga Trading Engine which uses Artificial Intelligence and advanced analytics technology.

SAMCO Product Offerings

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Leverage Products
    • CashPlus (Delivery margin funding with 4x equity delivery leverage)
    • StockPlus (Margin against shares trading account)
    • InstaPlus (Margins against shares for Intraday Trading & F&O)

SAMCO Account Types

  1. Online Trading Account
  2. Demat Account
  3. 2-in-1 Account (Trading + Demat Account)

The online trading account offers Equity, Currency and Commodity trading. Customer who would like to trade only in the F&O segment can open just the trading account with SAMCO. Investors who would like to take the stock delivery need a 2-in-1 account.

3 Simple Ways to open an account with SAMCO

  1. Online Account Opening (Instant & Paperless)
  2. Download Form
  3. Visit SAMCO Mumbai Office

To open an account with SAMCO, you could follow 3 simple ways:

  1. Online Account Opening (Paperless - Digital eKYC & Aadhar eSign)

    You could open an online trading account instantly in less than 5 minutes if you have your aadhar linked with your mobile number. This paperless process has 2 main parts:

    1. eKYC (Know your customer)
    2. eSignature (Aadhar based electronic signature on your form)

    In eKYC, if a customer has already done KYC with other financial institution, the customer data is pulled online based on the basic information provided by the customer. The Aadhar eSign process provides a digital signature to your account opening form if the customer has the correct phone number linked to Aadhar and can validate that through OTP. This is the fast, safe and convenient way of opening trading and demat account.

    Steps to open an online account with SAMCO

    1. Register and provide your basic details for eKYC
    2. Verify the information pulled from central KYC registry
    3. Validate your Aadhaar OTP to fetch your details from UIDAI & eSign
    4. The eSigned KYC PDF will be generated and emailed to you
    5. On receipt of the confirmation to the eSigned KYC your account gets opened

    In some cases, the customer may have to attach few electronic documents including a copy of your PAN Card, Photo, Bank Statement etc.

    Why you should open an online trading account with SAMCO?

    • It's a paperless process.
    • Account opening in just a few minutes.
    • Support documents are 'digitally' signed by you. No printing or signing forms needed.
    • It is safe, secured and a convenient process.
  2. Download PDF Forms

    You could download PDF forms from SAMCO website, fill them up, attach supporting documents and send them to SAMCO Mumbai office for account opening. This process is less preferable as it takes a longer time to an open account.

  3. Visit SAMCO Mumbai Office Branch

    SAMCO has its corporate office at Elphinstone Road; Mumbai. You could visit SAMCO office and open account with them.

Account Opening Specials

  1. Free Account Opening
  2. 100% Brokerage cash back for 1st Month

SAMCO has 2 limited time special offers running at this time. These offers could save you 100's of rupees and at the same time gives you an opportunity to try SAMCO services.

  1. Free Account Opening

    SAMCO offers trading and demat account opening at absolutely no cost. This is a limited time offer.

  2. 100% Brokerage Cash Back for 1st Month

    Open an account with SAMCO, download mobile trading app StockNote and get 100% cashback on brokerage paid for trades done through the mobile app in the 1st month. This limited time offer works only for the trade executed using the mobile app.

SAMCO Account Opening Status

You could check the status of your online account opening by login into the online account opening website.

SAMCO Website >> Go to Login link navigation bar on top >> Complete Account Opening >> Login

SAMCO Account Opening PDF Forms

Online account opening is preferred as it is instant and paperless. But SAMCO also provides a way to open an account offline by filling the forms.

You could download the account opening forms in PDF format from SAMCO website, fill them up, sign them and send them to SAMCO Mumbai office.

SAMCO PDF Forms are available at.

SAMCO Website >> Utilities >> Download >> Account Opening Forms

SAMCO Trading/Demat Account Closing Procedure

SAMCO offers 2-in-1 account (Trading and Demat) which can be easily closed if they are no more needed. It is indeed recommended to close the account to avoid AMC charges, unwanted penalties or misuse of your account if you are not planning to use them.

Steps to close SAMCO Account:

  1. Clear all pending dues with the broker.
  2. Transfer or sell all your demat account holdings.
  3. Call SAMCO office to get the account closure form in an email.
  4. Fill the Account Closure Form, sign it and send it to the SAMCO Mumbai office.

Please Note:

  • The PDF Account Closure Form is not available online.
  • The account cannot be closed online, through email or through phone calls.
  • The physically signed application form should be submitted.
  • If there are multiple account holders on the account, each one has to sign on account closing form.

Once the form is received by SAMCO, it takes up to 7 days to close your account if the form is incorrect order. You will receive a confirmation letter within 15 days.

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.

SAMCO Account Opening Charges

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

  • SAMCO Account Opening Charges (Trading Acct): ₹0
  • SAMCO AMC Charges (Trading Acct): ₹0
  • SAMCO Account Opening Charges (Demat Acct): ₹0
  • SAMCO AMC Charges (Demat Acct): ₹400

FAQ's

  1. How do I get margin facility from SAMCO?

    To access to leverage products offered by SAMCO:

    1. Open a trading account with SAMCO.
    2. Login to SAMCO STAR, the back office web application.
    3. Pay an advance annual subscription fee of Rs. 1000 to sign up for the CashPlus Facility.

    Discuss this question

  2. Why do I need a demat account from SAMCO?

    Demat account is like a bank account. In the bank account, we keep the money. In a similar way, in demat account, we hold shares of the company, mutual funds, bands etc. in electronic form.

    If you planning to take the delivery of shares, demat account is mandatory. You can either open a demat account with SAMCO or link any of your existing demat account with your SAMCO trading account.

    It is preferable to open the demat account along with the trading account from the same broker. This 2-in-1 account offers seamless transactions of shares between your trading accounts and demat account.

    If you link your external demat account with SAMCO trading account, you have to manually submit the delivery instructions to your DP every time you sell a share.

    Discuss this question

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


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