Resident Individual

A Resident Individual refers to a person residing in India who meets the residency criteria defined under the Income Tax Act for taxation purposes. Generally, this applies to individuals who stay in India for at least 182 days within a financial year or satisfy other specific conditions outlined in Indian tax regulations.

Resident Individuals can open trading and demat accounts in their name to invest in equities, derivatives, mutual funds, and other financial instruments.

How to Open a Firstock Account

You can open your Firstock account through two methods:

1. Online Process

This quick, paperless procedure uses your Aadhaar-linked mobile number. Everything, including document uploads, taking your photo, and e-signatures, can be done from your phone or computer.

2. Offline Process

This manual method involves filling out physical forms, attaching required documents, and sending them via courier to Firstock. You will also need to complete a short video verification or undergo in-person authentication.

Required Documents

1. PAN Card

• Purpose: Mandatory identification for financial transactions; links transactions to the Income Tax Department.

2. Signature

• Purpose: Verification and authentication of documents and agreements.

3. Passport-Size Photograph (Signed Across)

• Purpose: Visual identification, particularly required for offline applications.

4. Self-Attested Address Proof

• Purpose: Residential address verification as part of KYC compliance.
• Accepted Documents:
  • Driving License
  • Voter ID
  • Passport
  • Masked Aadhaar (only the last 4 digits visible)

5. Income Proof (For F&O Trading only)

• Purpose: SEBI requires proof of financial stability for derivative trading (F&O) to ensure clients can manage associated risks.
• Accepted Documents (any one):
  • Last 6-month bank statement showing an average balance of ₹10,000+
  • Last 3-month salary slips indicating ₹15,000+ monthly income
  • ITR Acknowledgement or Form 16 reflecting ₹1.2 lakh+ annual income
  • Demat Holding Statement with securities valued at ₹10,000+

6. Required Forms

• Equity Trading and Demat Account Form
• DDPI (optional)
• KYC & CKYC Forms

Charges

Here's a clear breakdown of charges associated with opening and maintaining an account at Firstock:

• Account Opening: ₹0 (Free for both online and offline methods)
• Account Maintenance Charges (AMC): ₹0 (No AMC)

Brokerage Fees:

• Equity Delivery: ₹0
• Equity Intraday: 0.03% or ₹20 per executed order (whichever is lower)
• Equity Futures: 0.03% or ₹20 per executed order (whichever is lower)
• Equity Options: ₹20 per order