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SMC Global Demat Account Charges, Review, Opening


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Incorporated in 1996, SMC Global is a Delhi based financial services company. SMC Global is a full-service broker. It offers stock, currency, commodity and derivative trading services at BSE, NSE, MCX, NCDEX and MCX-SX. Trading is offered online, offline in branches and through a centralized call & trade facility.

SMC Global is also a depository participant with Central Depository Services (India) Limited (CDSL), National Securities Depository Limited (NSDL) and Comtrack. Through its membership with the central depositories, SMC Global offers Demat services.

SMC Global offers a 2-in-1 account to its customers. It is mandatory to open a trading account along with the Demat account with the company. SMC customers can do instant fund transfers from 21 banks.

Depository Services (Demat Account) is a key offering by SMC Global. The SMC Global demat account facilitates smooth investment in Shares, IPOs, Mutual Funds, Bonds and NCDs etc.

SMC Global Demat Account

SMC Global is the depository participant (DP) of NSDL and CDSL. SMC acts as an intermediary between the central depositories and the customers. The account is opened and managed by the central depository. SMC charges a fee from its customers for servicing the demat account. The central depository also charges a fee on each demats account transaction.

SMC Global Securities DP Membership Info:

  • CDSL/NSDL-IN-DP-130-2015

10 Reasons to open Demat Account with SMC Global

  1. Online access to manage your demat account
  2. Countrywide branch network
  3. Separate desk for NRI and HNI clients
  4. Dedicated customer support
  5. Apply for IPO online
  6. Hold your Mutual Funds
  7. Pledging of securities to avail loans
  8. Transfer of securities from one Demat to another
  9. Facility to freeze the account
  10. Low account opening charges

SMC Global Demat Account Opening Charges

To open a new Demat account with SMC Global, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

ServiceCharges
Demat Account Opening FeeRs 499
Demat Account Annual Charges (AMC)Rs 300

SMC Global Depository Service Charges for Resident Retail Customers

SrServicesCharges(General Scheme)
1 Annual Maintenance Charges (AMC) Rs 300
2 Dematerialisation Rs 5 per certificate
3 Rematerialisation Rs 25 per certificate
4 Pledge creation Rs 60 per Instruction
5 Pledge Closure / Invocation Rs 30 per Instruction
6 On-Market Transaction Charges Rs 15 per Instruction for POA Clients
Rs 20 per Instruction for Non POA Clients
7 Off-Market Transaction Charges 0.03% Subject to Min Rs 20 & Max Rs 50 per Instruction
8 Delivery Instruction Book Charges Rs 30 (20 leafs)
9 Demat Rejection Charges Rs 20 per instruction

Frequently Asked Questions

  1. 1. What is a SMC Global Demat account?

    A Demat account is a place where your securities like stocks, mutual funds etc., are stored in electronic form. It works like a bank account. When you buy shares through your trading account, the shares are credited in your Demat account. The shares get debited from the account when you sell it.

    The Demat accounts are managed by two central depositories NSDL and CDSL. Brokers like SMC have to be the Depository Participant of any of the central depository to offer Demat services.

     

  2. 2. Who can open a Demat account with SMC?

    Any individual, HUF (Hindu Undivided Family), proprietary firm, or a corporation can open a Demat account with SMC.

     

  3. 3. Is it necessary to open a Demat account along with a trading account in SMC Global?

    Yes, SMC doesn't offer a Demat only service. You need to open both the accounts.

     

  4. 4. Can I open a joint Demat account with SMC Global?

    Yes, up to 3 people can be added to a Demat account. There will be one main holder and 2 joint holders in the account.

     

  5. 5. Can a minor open a Demat account with SMC Global?

    Yes, a Demat account can be opened in the name of a minor but it is operated and managed by a legal guardian.

     

  6. 6. Why do I have to sign a Power of Attorney (PoA) with SMC Global?

    The PoA is a limited purpose permission from you to the broker to conduct certain specific Demat activities on your behalf. The activities include Debit of securities when you sell it, pledge securities for availing a loan etc.

     

  7. 7. Why do I need to link my bank account with the Demat account in SMC Global?

    Securities like shares, mutual funds etc., earn dividends, bonus etc.These are directly credited to the Bank account linked with the Demat account.

     

  8. 8. How to close SMC Demat account?

    SMC Demat account can be closed by submitting the account closure form to SMC Global Securities Head Office.

    Steps for closing SMC Demat account are as follows:

    1. Download the account closure form.
    2. Fill the closure form with the required details.
    3. Sign the form.
    4. Send the account closure form to the head office.

    Before submitting the account closure request, ensure that there is no negative balance or any securities left in your account.

     

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Information on this page was last updated on Friday, April 10, 2015


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