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Digital Roundup :Best Way of Securing your Demat Account 2024

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Trading on investment is a general topic that you must have studied in your school time. You can trade in multiple investment types like stocks , commodities, futures, options and debt instruments . For trading you require a special account known as Demat account which can be opened with any of the SEBI registered company . All trading ( incl . Buy or sell ) of securities take place through Demat account and all funds of it are taken and deposited into the bank account of the account holder . This is what all include in trading .

But do you know that while trading through your Demat account you have to be cautious that your account credentials could get exploited or they might be misused by some other person or you might loose your hard earned investments by just a click . Yes , this is possible and because you ignore security of your trading accounts you might end up loosing your investments .

In this post , you will get to a complete round of information on Demat account , which every beginner should have and the best possible ways of securing your Demat account .

Opening a Demat Account

Opening a Demat account is as simple as opening a bank account but choosing the right account opening company is the most difficult task to do . Before opening any demat account , you should take a third opinion always or try to take a trial of your prospective company account through your investors friends or relatives .

If you don’t have investor relations , then you can certainly try a YouTube review of all for the same to get an overview of the best stock broker trading app . To teach you , opening of a demat account would be a waste because you can checkout a tutorial for the same on YouTube in 2 minutes . So , we would be discussing more about a broking company online which is highly trusted to use and keep your funds well secured.

If you check Zerodha , at present is the top most trending trading application in India today , which is secure and safe to use and is even registered under SEBI norms .

Best Demat Brokerage Firm in India

Like we said above , in terms of investing your hard earned money you can only trust those brokers which have a legal standing and are approved by government . You might not get time to check their credibility but you can certainly check their performance in the past few years and also the review of the users currently using their application .

Talking about the most reknown brands in stock broking in India , you can definitely trust these companies :

1. Zerodha Kite

2. Upstox

3. Angel Broking

4. Alice Blue

5 . Motilal Oswal

Zerodha is the India’s most trusted brand in name of demat account opening and security of demat holders . With Zerodha you get benefit of highly interactive interface with smooth market tracking options and eyes friendly application interface . Talking about investment and withdrawals charges in their app, they priorities issues of their customer and have mutliple contact options in case , an investor require any help.regarding his investment or have some other query .

Other than Zerodha you can try other above said options also . We might recommend going with other broking applications because most of them are new to the market and have not obtained all required licesces from the government , which make them unsecure and nore risky for the Investor for making any investment .

Securing Demat Account

Investor those investing for short term or for long term both required utmost security on their investment as, securities other than those traded on intraday basis are always on a risk of transfer by the exploiter. Every brokerage firm also provides certain security measures to its users to ensure that investor funds are kept secure and no one could have access to their clients accounts or make breach in their database.

Some effective ways with which you can ensure safety of your funds in Demat:

1. Active 2step Verification on your Demat account : It is almost available on all top demat service providers that you can enable two step verification on your account either by using a mobile device or by using a Google authenticator . With this each time you login to your account , your account credentials would ask for a OTP on your mobile number or a code on the Google authenticator app .

2. Never Allow CDSL Authorization for the Complete day : CDSL Authorization means you have to enable the buy and sell authorisation in your demat account as all your securities are kept with CDSL and not the demat provider company . Demat is just a service provider providing transaction facility like UPI apps provide in making payments . If you once enable CDSL Authorization in your app , anyone can buy , sell or gift stocks from your account to his account .

3. Ensure that the device you use is Password Protected : You should always ensure that the device in which you are operating your demat account is Password protected . In cas if your mobile is lost , the recipient of your device would not be able to access it without your phone locked system opening .

4. Never Save your Demat Login Passcode on your Mobile Device : Never ever store your demat acxount credentials on your mobile device because once your mobile device is lost you will not be able to recover your Demat account in any other device or the other person receiving your mobile would get an access to your Demat account and would transfer your securities to his account.

Why Demat to be Secured ?

Securing your Demat account is necessary because until you have a security passcode or security features enabled on your Demat account your securities other than holding the market risk would also be holding the risk of being transferred or being misused by some anonymous person who would be able to get access of your account when you lose your access credentials.

As Demat account is a sole account where all your investments should be reflected it becomes very important to either hold securities in a paper form or or to get the Demat account secured with the passcode or with some password.

Things to Know !

To secure your Demat account and to keep your investments save you should also :

  • Keep regular check over your long term investments by timely logging in to your Demat account and also enabling two step verification on your account.
  • Ensure that no the agent of the broking Company or any other respective person takes passcode or any of the credentials on a phone call in name of of service or or any discount or bonus offers.

Hope , you liked this this post on securing your Demat account if you have any queries related to opening of Demat account or trading in Demat account or securing a demat account you can places your comments down in the comment section or or you can write us your feedback on our contact us page.

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