Cheapest Online Trading Account with Sharekhan

If you have not yet opened up an online trading or demat account for trading in the stock markets, I feel this is the right time to do with Sharekhan. As they are currently offering to open your trading account for Rs. 49 and Rs. 99 which would normally cost you Rs. 750 and Rs. 1000 respectively.

Sharekhan, as you know, is one of the leading online share trading portal in India which has been around for quite some time and have a huge base. To boost up their clientele and to tackle the tough competition from Reliance Money and other share trading portals, they are currently offering to open up your online trading account for very cheap which you can use to transact for online trading in Indian Stock Market.

They currently are offering two types of online trading accounts. One is Classic/FastTrade account which is for the beginners or those who do less transactions on the stocks. There is also another one, TradeTiger, which is for the day traders and other advanced users. If you are new to stock market and want to start newly and to try it out, it is advised to try the Classic account to open. The Classic Account is only Rs. 49 to open while the TradeTiger account is Rs. 99 to open.

This offer is available only if you apply and pay the above mentioned amount through online. You cannot avail it elsewhere or offline.

It is always advisable to invest at least some amount of your savings in stock market even though there was a huge crash in it, although it would bounce back soon. It is advised to invest in stocks considering the way the inflation is rising right now and hence saving through the regular modes like bank deposits and savings bonds will not work out at all with the rate in which the inflation is rising. Even if you are planning for opening an online trading account, you can do it right now, as the charge is cheaper than ever and can start transacting later whenever you wish but remember that you need to give the cheque for Rs. 5000 for buying shares which you can do it later though.

After applying online by paying the required amount you need to keep your Pan Card, Address proof, photographs, cancelled cheque and a cheque for Rs. 5000 as a minimum amount to invest in stock market, so that the Sharekhan representative will come and collect it from you to officially open your online trading account.

This is done to tackle the recent move by Reliance Money to offer free trading account but charging an annual charge of Rs. 500 for transactions, but I personally feel that Reliance Money would be ideal for those doing the trading full time or regularly and not for the beginners or those who transact rarely to buy or sell stocks. Hence you can go for Sharekhan account in which they also offer free advice for the beginners on how to start with stocks and how to go about it.

This offer is valid only till June 30, 2008. You can find more about this offer and open an online account with Sharekhan, here. To know more about online trading and how to start or have any general queries you can contact Sharekhan at their toll free customer service number at 1800-22-7500 or can even email them at invest@sharekhan.com. This offer was shared by Ashish.

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