Account Opening
The section details information related to opening Trading/demat account with Compositedge, documentation and other nitty- gritties to simplify the account opening process
Looking to open trading/ de-mat accounts with Compositedge
Two possible ways to submit KNOW YOUR CLIENT (KYC) application
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Download the KYC from our website, enter the details accurately as mentioned in the supplementary/ supporting documents, print them out & send them to us along with the self- attested supporting documents
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Request application by filling out your basic details. We in turn will complete your KYC and send them to you for inserting your photographs and signatures. The same should be submitted back to us along with the self- attested supporting documents
Supplementary documents to open trading/ demat accounts
Submit self- attested photocopies of at-least one of the following documents under each section along with the KYCto complete the account opening process. Also mentioned in the checklist are instances where the original supporting documents are required
| ID proof | Address proof | Income proof |
|---|---|---|
| Pan-card | Passport | Recent IT returns |
| Aadhaar Card | Driving licence | Salary slip |
| Original of a recent utility bill such as telephone,electricity or gas | Latest D-mat account statement | |
| Recent 6- months bank statement/bank passbook attested by the relevant bank official | Recent 6- months bank statement/bank passbook attested by the relevant bank official | |
| Ration card | Net-worth certificate | |
| Aadhaar card | Latest D-mat account statement | |
| Voter's id |
Photographs:
1- Passport size photograph to be affixed for a trading account. An additional photograph if a demat account is also being opened
Note-
- Income proof is binding ONLY for clients trading in derivatives
- Bank statements if submitted can be used as supporting documents for Address and Income proof
- Aadhaar card mandatory for Demat accounts
Account opening charges at Compositedge?
Our account opening charges comprise of:
- Trading @ Rs.350/- includes equities, commodities and currencies
- Demat @ Rs.50/-(stamp charges)
- In case you do not intend to take delivery of stocks, you need not open a demat account
Account opening process
Follow the simple steps illustrated below to complete your account opening process. Before sending the completed documents to us, ensure signatures of witnesses, your self- attested supporting documents and a cheque comprising of Account Opening Charges favoring Composite Investments Private Limited
What is KRA?
KRA stands for Know your client registration agency
With a view to bring uniformity in the KYC requirements for the securities markets, SEBI has initiated usage of uniform KYC by all SEBI registered intermediaries.
KRA centralizes all KYC records in the securities market. On opening an account with a SEBI registered intermediary, you are required to fill out your KYC information along with supporting documents. The Intermediary on their part will upload all the material on the system of the KYC Registration Agency (KRA). This KYC information can be accessed by all SEBI Registered Intermediaries while dealing with the same client
For detailed information on the SEBI notification, Click HERE
How does KRA simplify account opening process?
Once the KYC process is completed with a SEBI registered intermediary/ broker, a trader does not have to undergo the entire process again with another intermediary
In simpler words, if the KRA- KYC is already verified, supporting documents such as PAN card & address proof are not essential; as long as the address is the same as the one registered with the original KRA- KYC. In addition, the In- person verification (IPV) is not necessary
Do commodities and currencies exchanges recognize KRA?
Yes, commodities & currencies exchanges in India recognize KRA
SEBI authorized KRA agencies
NSDL Database Management Limited (NDML) and CDSL Ventures Limited (CVL)
What is IPV and why is it necessary?
Exchange norms require intermediaries to complete In-person verification (IPV) of clients signing- up along with their original documents such as pan-card, address, income proofs and so on. For clients based in Bangalore, the IPV will be completed by our representatives stationed here
How do we implement IPV for out- station clients?
The IPV will be established via web-cam. In addition, O/S clients can submit either one of the following docs to complete address proof verification
a) Self- attested originals of utility bills
b) Self- attested photocopies of any one document mentioned under Address proof
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Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other
important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment.
No worries for refund as the money remains in investor's account.
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Kindly contact helpdesk@compositeinvestments.com to update/add/modify the Bank account details, Demat account details/ Email id/ Mobile number.
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