I am planning to open a stock market online account in India. My question is do I need to pay any extra charges on the days when I dont play stock market.
As said in previous answer, bank account, demat account and a brokerage firm.
- Bank account
You will be having a bank account.
- Demat account & Brokerage firm
The required documents are regulated across the players. You must spend some effort to decide the above two. Other things to consider are the annual charge and commission. For first timers, go with the one provided by banks (viz Icici direct). Later on do compare others (sharekhan, karvy, ZeroDha).
To trade in stocks you need 3 things
- Your bank account
- A demat account. These days there is no annual charges, but quarterly holding charges. Very nominal ...
- A online trading account. These days there are no annual fees. Only fees when you trade. Typically in the range of 0.25 percentage of trade value.