Resident Individual

A Resident Individual is a person who resides in India and meets the criteria set under the Income Tax Act to be classified as a resident for tax purposes. Typically, this includes individuals who have stayed in India for 182 days or more during a financial year or satisfy other conditions laid out under Indian tax laws.

Resident individuals are eligible to open trading and demat accounts in their own name to invest in equities, derivatives, mutual funds, and other financial instruments.

Online Account Opening

Opening a Resident Individual account with Firstock is quick, paperless, and entirely online. Here’s a step-by-step guide to help you get started:

1. Visit the Firstock Website or App: Go to https://signup.firstock.in/ or download the Firstock mobile app.
2. Start the Account Opening Process: Click on the “Open an Account” button and provide your basic details like name, mobile number, and email ID.
3. Enter PAN and Aadhaar Details: You’ll need a valid PAN and Aadhaar number linked to your mobile number for eKYC verification.
4. Complete KYC: Upload required documents such as:
   • PAN card.
   • Aadhaar card (or any valid proof of address).
   • A selfie for identity verification
   • A photo or PDF of your signature
   • A cancelled cheque or bank statement for bank proof

Offline Account Opening

To open an offline account with Firstock, submit the following:

1. Required Forms:

• Equity Trading and Demat Account Form
• DDPI (Optional) – Required only if you don’t want to use CDSL TPIN for security debit authorization.
• Segment Addition Form – Needed if you plan to trade in commodities.

2. Supporting Documents

• Passport-size Photograph – Signed across and affixed to the application.
• Self-attested PAN copy
• Self-attested Address Proof – Choose one: Driving License, Voter ID, Passport, NREGA Job Card, NPR Letter, or Masked Aadhaar.
• Bank Proof – Choose one: Personalized cancelled cheque, bank statement, or passbook copy.
• Income Proof (For F&O Trading) – Any one of:
  • Last 6-month bank statement (₹10,000+ average balance)
  • Latest salary slip (₹15,000+ monthly)
  • ITR Acknowledgement/Form 16 (₹1.2L+ annual income)
  • Net worth certificate (₹10L+)
  • Demat holding statement (₹10,000+ value)

3. Signatures & Guidelines:

• Follow signature guidelines and refer to sample forms for accuracy. 

4. In-Person Verification (IPV):

Required by regulation; can be completed via webcam or physical visit.

5. Submission Process:

• Email scanned documents to sales@firstock.in for review.
• After approval, courier physical copies to: FIRSTOCK, No 350, 36th A Cross, 7th Main Rd, 5th Block, Jayanagar, Bengaluru, Karnataka 560041.

Charges

• Account Opening Charges: ₹0
• Annual Maintenance Charges (AMC): ₹0
• Delivery Trades Brokerage: ₹0
• Intraday & F&O Brokerage: Just ₹20 per executed order.