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Trade Smart Online Open Account | Account Opening Process Review


Trade Smart Online is a venture of VNS Finance Capital Services Ltd. VNS Finance has been in the business since 1994 and is based in Mumbai. Trade Smart Online is a discount brokerage company offering online trading services. The company offers trading services in multiple segments including equities, commodities, currency, derivatives, and depository across multiple exchanges like NSE, BSE, and MCX.

Trade Smart Online has a 17,000+ customer base and generates over ₹2500 crores in daily turnover across exchanges as of Nov 2018. It is a technology driven company that offers good trading platforms and tools to its customers.

Key Facts about Trade Smart Online

  • Part of VNS Finance & Capital Services Ltd, that has 20+ years of experience in broking services
  • Member of multiple exchanges NSE, BSE, MCX, SEBI, and CDSL
  • Offer high intraday exposures
  • 100+ dedicated support team
  • Access to an advanced algorithmic trading software 'Fox Trader'
  • Offers two low brokerage plans of 0.007% or a flat rate of ₹15 per executed order

Product Offered by Trade Smart Online

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

Trade Smart Online Account Opening

To utilize the services of Trade Smart Online and gain access to its trading platforms, you need to open a trading account and a Demat account with the company. Though the company allows you to separately open a trading account and link it with your existing Demat account, you won't be able to sell the shares using the Trade Smart Online account. This is because the company currently doesn't offer services for delivery selling from stocks held with another DP. You need to transfer the securities to be able to sell it using TSO's trading account.

The Trade Smart Online Account Opening process is simple and can be done online.

Brokerage Plans

Trade Smart Online offers its customers the flexibility to choose from 2 different brokerage plans; Value Plan and Power Plan, to suit their trading needs.

Difference in Trade Smart Online Brokerage Plans
 

VALUE Brokerage Plan

POWER Brokerage Plan

Target Customers

Lesser Volume Traders

Big Volume Traders

Plan for

Ideal for traders with lesser volume

Ideal for traders with less frequency but bigger trade size

Brokerage

0.007%

Flat ₹15 per executed order, regardless of the size of the trade

Delivery Exposure

Up to 4x exposure for Equity delivery

Up to 4x exposure for Equity delivery

Intraday Exposure

Up to 30x on Equities, 7x on F&O, 3x on Currency and 6x on

Commodities

Up to 30x on Equities, 7x on F&O, 3x on Currency and 6x on

Commodities

Margin against shares

Yes

Yes

Open Account in Trade Smart Online-Easy Steps

You can open an account with Trade Smart Online in 3 ways-

  1. Online Account Opening

    It is the fastest way to open an account with Trade Smart Online.

    Note: Aadhar card with your current mobile number registered with it is mandatory for the process. You would also need a soft copy of a canceled cheque and bank statement for the last 6 months.

    Here are the steps to open an online trading account:

    • Visit the company's website
    • Click link 'Online Account Opening'
    • Enter Name, Email and Mobile Number to register
    • Fill in your basic details i.e. PAN Number
    • Verify your information pulled through Central KYC portal
    • Upload required documents
    • Submit the account opening application.

    That's it. Your account opening form is now validated by the TSO team and your account is opened in just a couple of hours.

  2. Download Account Opening Forms

    If you could not get your account opened online, you can download the account opening form from the website, take a print out of it and fill all the required details.

    Send the duly filled form along with self-attested copies of the documents and a cheque of initial balance through courier.

  3. Request Account Opening Forms via Courier

    You can request for an account opening form from the company by courier. Fill the form and send it along with self-attested copies of the documents and a cheque of initial balance through courier to address provided in the form.

Documents Needed for Account Opening

Following documents are required for account opening with Trade Smart Online-

  1. AADHAR Card
  2. PAN Card with photo
  3. Address Proof- Driving License, Passport, Ration card, Latest Telephone or Electricity Bill, Aadhar Card, Government issued ID card etc.
  4. Latest 6 Months Bank Statement (For F&O/Currency/Commodity A/C)
  5. A Cancelled Cheque with MICR no. & IFSC code mentioned on it
  6. Passport Size Photo

Trade Smart Online Account Opening Status

  1. Online Account Opening

    The online process is fast and the account is opened in a day. In case you don't hear from them in 24 hrs, you could check the status of your account opening process by login into the same website you filled the account opening form.

  2. Offline Account Opening (Paper Forms)

    For offline account opening, if all your documents are proper as per the KYC norms, the company claims that the account is opened within 3 days of receipt of application. For account opening via offline modes, you can know the account opening status by contacting the customer support team. You can request a call back from the company by filling an online form at the company website. Alternatively, you can call their customer care and talk to their customer care or send an email to them.

Trade Smart Online Account Opening Form

The PDF account opening forms are available on the company's website to download. You can download and take a print-out of it. You can also request for a form via courier and the company will send you the form. However, you need to pay ₹100 for getting a form via courier.

Trade Smart Online Account Closure

If for some reasons, you wish to close your Trade Smart Online trading and demat account then you can do it anytime. Closing an unused trading account is also advisable as you have to pay charges on its maintenance.

Steps to Close Trade Smart Online Trading & Demat Account

To close an existing account with Trade Smart Online, you need to fill the account closure form available on the website and send it to TradeSmartOnline office. The steps to close the account are as below:

  1. Visit TradeSmartOnline website
  2. Go to the top menu, click on 'Support' and then 'Downloads'
  3. Download 'Account Closure Form' in PDF.
  4. Print, Fill it and sign it.
  5. Send it to the address provided in the form along with a self-attested copy of ledger.

Please remember:

  • Move all your securities in the Demat account and make it nil.
  • The account cannot be closed through online/phone/chat etc.
  • Your account will not be closed if you have any pending dues. So pay the dues before initiating account closure process.
  • Close all your open positions in the market.
  • Follow up on your account closing application to make sure that your account is closed.

Trade Smart Online Account Opening Charges

Customer pays account opening fee for trading account opening with Trade Smart Online. The account opening fees are as below:

  • Trade Smart Online Account Opening Charges (Trading Acct): ₹300
  • Trade Smart Online AMC Charges (Trading Acct): ₹0
  • Trade Smart Online Account Opening Charges (Demat Acct): ₹500
  • Trade Smart Online AMC Charges (Demat Acct): ₹300

FAQ's

  1. How long does it take to open an account with Trade Smart Online?

    The online account is opened within 24 hours. Account opening via offline mode takes 3 days from the receipt of the completed application.

    Discuss this question

  2. What is in-person verification with TSO? How is it done?

    SEBI guidelines mandates for all online brokerage companies to carry out In-person Verification of their customers. This is done to verify your identity and check the authenticity of the documents submitted during account opening.

    The in-person verification is done by webcam using Skype and Google Hangout and a support team executive will assist you.

    Discuss this question

  3. Can I modify my details after opening an account with TSO? How to do it?

    Yes, you can modify your details after an account is opened. Certain information like change in mobile number and email id etc. can be done online in the 'My Profile' section.

    For other major changes like change in address, bank details etc, you need to-

    1. Download the 'Account Modification Form' from the website
    2. Print, Fill and Sign it.
    3. Attach self-attested copies of relevant documents like address proof for address change and a canceled cheque for change in bank account
    4. Send it to the company

    Discuss this question

  4. Can I open a Joint Trading Account with Trade Smart Online?

    No, SEBI regulations don't allow opening of Joint Trading Account.

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  5. Do I need to maintain a minimum balance in Trade Smart Online account?

    No, you don't need to maintain balance in your trading account.

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  6. Who can open a trading account with Trade Smart Online?

    All resident Indians and Non-Resident Indians (NRIs) are eligible to open a trading and demat account.

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  7. How do I know if my account is opened with Trade Smart Online?

    You will receive a welcome email and SMS, once your account is activated. The welcome email will contain the login credentials with instructions to access your account online.

    Discuss this question

Information about Trade Smart Online account opening, Trade Smart Online open account, Trade Smart Online opening charges, Trade Smart Online account opening charges, Trade Smart Online account opening status, Trade Smart Online amc charges, Trade Smart Online account charges and Trade Smart Online account closure.

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