Open TradeSmart Account | TradeSmart Account Opening Online Process Review


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TradeSmart Account Opening Charges 2020

TradeSmart account opening charges are ₹200 for a trading account and ₹200 for Demat account. TradeSmart charge ₹300 AMC for Demat account.

TransactionCharges
Trading Account Opening Charges₹200
Account AMC Charges₹0
Demat Account Opening Charges₹200
Demat AMC (Yealy)₹300

TradeSmart is a venture of VNS Finance Capital Services Ltd. VNS Finance has been in the business since 1994 and is based in Mumbai. TradeSmart 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.

TradeSmart has a 26,000+ active customer base and generates over ₹10,000+ crores in daily turnover across exchanges as of Mar 2020. It is a technology driven company that offers good trading platforms and tools to its customers.

Key Facts about TradeSmart

  • 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 TradeSmart

  • 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)

TradeSmart Account Opening

To utilize the services of TradeSmart 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 TradeSmart 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 TradeSmart Account Opening process is simple and can be done online.

Brokerage Plans

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

Difference in TradeSmart 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 TradeSmart-Easy Steps

You can open an account with TradeSmart in 3 ways-

  1. Online Account Opening

    It is the fastest way to open an account with TradeSmart.

    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 TradeSmart-

  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

TradeSmart 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.

TradeSmart 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.

TradeSmart Account Closure

If for some reasons, you wish to close your TradeSmart 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 TradeSmart Trading & Demat Account

To close an existing account with TradeSmart, 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.
TradeSmart Special Offer

Limited Time Offer - Free Account Opening (₹400 waived)

Open TradeSmart Trading Account and get Free Trading, Demat and Mutual Fund Account + Trade at flat ₹15 per order.

Get this limited time offer

Frequently Asked Questions

  1. 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.

     

  2. 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.

     

  3. 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

     

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

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

     

  5. 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.

     

  6. 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.

     

  7. 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.

     

  8. 8. How to close TradeSmart demat account?

    For any reason, if your account is kept idle for long, it's recommended to close it to avoid maintenance charges. The account holder has to take care of below things before requesting the closure of an account.

    1. Transfer all the securities to other demat account and make it nil
    2. Pay all the dues or debit balance before initializing the process
    3. Close all your open positions in the market
    4. All account holders have to sign the document in case of a joint account

    The account cannot close through phone or chat so one has to download the form and print it. To download the form:

    1. Visit TradeSmart website
    2. Click on Support--->Download
    3. Click on Download button in front of Account Closure Form
    4. Print the pdf and fill the form and sign it
    5. Or click here to 'Download the form'
    6. Courier it to the address given in the form

    After submitting the form it takes 5 to 7 days to close the account.

     

Contact TradeSmart / Request Call Back

FREE Account Opening (₹400 waived) + Trade at flat ₹15 per order. Get the offer

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Information on this page was last updated on Saturday, June 6, 2020


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