Open SAMCO Account (SAMCO Account Opening Process, Documents and Charges)

Incorporated in 2015, SAMCO is a Mumbai-based Online Stock Broker. SAMCO offers low-cost brokerage services. SAMCO is a retail-focused technology-led discount broker offering a variety of services. The broker also provides leverage products for delivery funding (margin funding) and margin against shares in a demat account. SAMCO is a depository member of CDSL through which it provides demat account-related services.

SAMCO is a trading member of NSE, BSE, and MCX, a depository participant of CDSL, and a SEBI registered broker.

Facts about SAMCO

• Member of SEBI, NSE, BSE, NCDEX, and MCX.
• Trusted by over 3,00,000 investors.
• Over 5239 cities across India served
• Among very few discount brokers who offer margin funding and margin against shares.
• Offers the highest leverage among discount brokers.
• The new-gen Samco app is powered by MyDEX Technology and uses thePerforMAX strategy.

SAMCO Product Offerings

• Online Trading
  • Equity Trading at BSE, NSE
  • Commodities Trading at MCX
  • Currency Trading at NSE
  • Commodity and Derivatives Trading at NCDEX
• Depository Services (Demat Account)
• Leverage Products
  • CashPlus (Delivery margin funding with 4x equity delivery leverage)
  • StockPlus (Margin against shares trading account)

SAMCO Account Types

1. Online Trading Account
2. Demat Account
3. 2-in-1 Account (Trading + Demat Account)

The online trading account offers Equity, Currency, and Commodity trading. Customers who would like to trade only in the F&O segment can open just a trading account with SAMCO. Investors who would like to take the stock delivery need a 2-in-1 account.

3 Simple Ways to Open an Account with SAMCO

1. Online Account Opening (Instant & Paperless)
2. Download Form
3. Visit SAMCO Mumbai Office

To open an account with SAMCO, you could follow 3 simple ways:

1. Online Account Opening (Paperless - Digital eKYC & Aadhar eSign)

   You could open an online trading account instantly in less than 5 minutes if you have your aadhar linked with your mobile number. This paperless process has the following steps:

1. Mobile verification: Enter your basic details like name, email, and mobile number on the website Account Opening Page, then you will be asked to verify your mobile number via an OTP which hardly takes 10-15 seconds.
2. PAN verification: Post mobile number verification users are required to verify their PAN details by entering their pan card number.
3. Personal information: Users just need to enter their personal details like their mother's name, annual income, and occupation details.
4. Email verification: After entering their personal details the user needs to also verify their email address via an OTP.
5. Bank verification: User needs to verify their bank account details by entering their bank account number and other banking details.
6. Trading segment: The user has to select in which segment he/she wants to trade in Samco.
7. Documents Upload: Users need to be handy with the following documents which they need to upload for verification as per exchanges: PAN card, and Aadhaar card
8. Review & e-sign: The user needs to verify his entered details & documents and confirm by e-signing their demat and trading account opening form with Samco.

1. Why you should open an online trading account with SAMCO?

   • It's a paperless process.
   • Account opening in just a few minutes.
   • Support documents are 'digitally' signed by you. No printing or signing forms are needed.
   • It is a safe, secure, and convenient process.
2. Download PDF Forms

   You could download PDF forms from the SAMCO website, fill them up, attach supporting documents, and send them to the SAMCO Mumbai office for account opening. This process is less preferable as it takes a longer time to an open account.

3. Visit SAMCO Mumbai Office Branch

   SAMCO has its corporate office at Elphinstone Road; Mumbai. You could visit the SAMCO office and open an account with them.

Account Opening Specials

1. Free Account Opening
2. 100% Brokerage cash back for 1^st Month

SAMCO has 2 limited time special offers running at this time. These offers could save you 100s of rupees and at the same time gives you an opportunity to try SAMCO services.

1. Free Account Opening

   SAMCO offers trading and demat account opening at absolutely no cost. This is a limited-time offer.

2. 100% Brokerage Cash Back for 1^st Month

   Open an account with SAMCO, download the mobile trading app Samco, and get 100% cash back on brokerage paid for trades done through the mobile app in the 1^st month. This limited-time offer works only for the trade executed using the mobile app.

SAMCO Account Opening Status

You could check the status of your online account opening by login into the online account opening website.

SAMCO Website >> Go to Login link navigation bar on top >> Complete Account Opening >> Login

SAMCO Account Opening PDF Forms

Online account opening is preferred as it is instant and paperless. But SAMCO also provides a way to open an account offline by filling out the forms.

You could download the account opening forms in PDF format from the SAMCO website, fill them up, sign them, and send them to the SAMCO Mumbai office.

SAMCO PDF Forms are available at.

SAMCO Website >> Utilities >> Download >> Account Opening Forms

SAMCO Trading/Demat Account Closing Procedure

SAMCO offers 2-in-1 accounts (Trading and Demat) which can be easily closed if they are no more needed. It is indeed recommended to close the account to avoid AMC charges, unwanted penalties, or misuse of your account if you are not planning to use them.

Steps to close SAMCO Account:

1. Clear all pending dues with the broker.
2. Transfer or sell all your demat account holdings.
3. Call SAMCO office to get the account closure form in an email.
4. Fill out the Account Closure Form, sign it, and send it to the SAMCO Mumbai office.

Please Note:

• The PDF Account Closure Form is not available online.
• The account cannot be closed online, through email or through phone calls.
• The physically signed application form should be submitted.
• If there are multiple account holders on the account, each one has to sign the account closing form.

Once the form is received by SAMCO, it takes up to 7 days to close your account if the form is incorrect order. You will receive a confirmation letter within 15 days.

Note that follow-up for account closure is important. If you do not get a confirmation in 15 days, contact customer support to check the status.

Frequently Asked Questions

SAMCO Competitors Review

Information on this page was last updated on Wednesday, November 29, 2023