Can a Minor Open a Demat & Trading Account in 021 Trade?
Can a Minor open account in 021 Trade? Are there any concessions for such accounts? Find a clear answer in this FAQ by 021 Trade.
Yes, a minor can open an offline Trading and Demat account with 021 Trade.
Who can operate a minor demat account?
The account will be operated by a guardian (father, or in his absence, mother, or a court-appointed guardian) until the minor turns 18.
What transactions are allowed in a minor account?
The account is fully managed by the guardian and can be used only for selling securities received through IPO allotments, inheritance of shares, gifted securities, corporate actions, family transfer of shares, or as per regulatory/government directions.
Can minors trade in stocks?
Regular trading (buying and selling) is not permitted in a minor’s account.
What documents are required?
Both the minor and the guardian are required to complete KYC compliance formalities during account opening. Once the minor turns 18, the account can be converted into a regular account by completing the required formalities and confirming the holdings.
Are there any fee concessions for minor accounts?
Please note that there are no special concessions in fees or procedures for minor accounts; they are treated the same as regular accounts, except for the trading restrictions.
