You can open a trading account online on ICICI Direct. Recently, stock markets are transformed from an open outcry system to an Electronic system. Trading accounts acts as an investment account that holds your cash or securities electronically and also lets you buy or sell those securities in the stock market. Stock Traders trade many instruments, for example, shares, securities, commodities, and currency through online trading platforms. For Income tax on trading, Equity Intraday, Equity F&O, Commodity Trading, and Currency Trading are considered as a Business Income.
Steps to open a trading account online on ICICI Direct
- Visit the ICICI Direct website.
- Fill in your details.
- Select your User id.
Enter the captcha code. Click on Submit.
- Link your bank account.
If you have an ICICI bank account just enter the account number. Click on Next.
- In case you don’t have an ICICI Bank account. Click on Continue.
Give access of DigiLocker to ICICI direct by logging into your DigiLocker account.
- Click on the Continue option.
From the Digilocker identification page.
- Upload PAN and photo.
Fill in your personal and financial details.
- Next you need to o an In-Person Verification (IPV) on webcam.
E-sign using Aadhaar. After that enter your Aadhaar number.
- Click on send OTP.
After that enter your OTP. Click on Verify OTP.
- The process is now complete.
Finally, Your account will open.
Demat account hold securities and certificates of stocks, shares etc electronically while Trading account lets you buy or sell those securities in the stock market.
Yes. An Individual can have as many trading accounts as they want. You can also link the same bank account with different trading accounts. However, you can’t have multiple accounts linked with the same broker.
3 in 1 account refers to as an Individual opening a Bank account, Demat account and Trading account simultaneously with the same bank.