Opening a demat or dematerialized account through trading apps like mStock is essential if you want to invest in stocks, bonds, or other securities traded on Indian financial exchanges like NSE and BSE. Without a demat account, you cannot buy or sell any securities on these major exchanges or trade in mutual funds.

Typically, new investors just starting out will open their demat account through a stockbroker. This automatically sets up a linked trading account with the same brokerage firm. However, not everyone realizes it is also possible to open demat account independently without involving any broker at all.

This guide explains step-by-step how an individual can directly open their own demat account without an attached brokerage to enjoy the perks of an online trading platform like mStock.

Select The Depository Participant

The first step to opening a demat account on your own to start share market trading is picking a depository participant (DP) to work with. Choosing the right DP is key since they will be the middleman between you and the actual demat account services. Look at the full list of approved DPs on the SEBI website and note those offering strong customer assistance. 

Then, compare those options side-by-side, along with any brokerage account fees charged by each DP. It’s important to select one with reasonable pricing as well as helpful support services. Evaluating multiple depository participants on those factors will allow you to determine the best match as your account intermediary out of the possibilities SEBI oversees.

Fill Out The Demat Account Opening Form

After selecting your preferred depository participant or DP, you next need to complete their demat account opening form. Accurately filling in all required personal and financial details on this form is crucial for a smooth, hassle-free account setup process. Ensure you provide all mandatory information requested on the form fully and correctly. Missing or confusing any relevant details could delay the verification and approval of your new account.

Attach All The Necessary Documents

Submitting photocopies of mandated paperwork like ID proof, residence proof, and passbook/bank statements is necessary to open an account and to further apply for a zero brokerage account. When attaching copies of any KYC documents to your filled demat application, don’t forget to self-attest by adding your signature to confirm authenticity. This attestation needs to be done on every document you wish to provide as address or identity evidence before attaching it to the form. 

Submit The Filled Application Along With The Documents

After attaching all necessary KYC documents to your demat account opening application form, you can go ahead and submit the full package to your chosen depository participant. Hand in the finished application with photocopies of your self-attested ID, address, and bank proofs to the DP for processing. They will verify all details and documentation given in the form you have provided. 


While it is common to open a Demat account through a broker, anyone who invests or trades in India’s financial markets can also do so directly with a depository participant. By researching and selecting a reliable DP, filling out the forms accurately, attaching all of the necessary documents, and submitting your application, any individual can open a demat account without needing to go through an intermediary broker. Having your own Demat account directly under your control provides more flexibility, enhances the online trading experience through apps like mStock, and transparency, reducing fees and helping you enhance your wealth management cycle.