What is the procedure of buying and selling shares through a Demat account?
What is the procedure of buying and selling shares through a Demat account?
The function of a demat account is to store the shares you purchase in the dematerialised or digital format. You cannot buy and sell shares if you only have a demat account. To buy and sell shares, you require a trading account. Thankfully, most modern stockbrokers offer both demat and trading accounts in one package. So, when you open a demat account you are likely to be opening a trading account as well. You can open a demat and trading account with IIFL Securities for zero account opening charges. Now, after you have opened a demat account, you need to use the brokers trading platform to buy and sell shares.
In the case of IIFL Securities, you can download the IIFL Markets app, to buy or sell stocks using your phone or tablet. For your laptop or desktop, you can login on the IIFL securities website or install the IIFL trader terminal to conduct transactions. On the trading platform, you can use the search option to find shares you want to buy. Then you can select those shares and select the buy option. You then need to place your bid and enter the quantity of shares you wish to buy. If you want to sell your shares, select the shares that you hold in your demat account using the trading platform. You then select the sell option and enter the bid and quantity.
In both the cases your bid gets sent to the exchange. If your buy order is accepted shares will be credited to your demat account. Whereas if your sell order is accepted shares in your demat account will be sold.
The procedure to buy or sell shares through demat cum trading account is actually quite easy. If you already have an account, then you need to log in and select the delivery option for stocks. In this case, the stocks will be bought and stored in your demat account. After that, you need to search for the stock by entering it’s name or its ticker symbol. After that, you can either buy the stock at the it’s market price or you can place a limit order wherein, you insert a price and when the stock reaches that price it will be bought or sold. If you do not have an account, then a Securities Broker (Best Stock Broker in Kolkata) can easily open your account and that too for free.
Disclaimer: Securities Market is subject to Market Risks, please consult your Certified Financial Advisor before investing.