Brokerage account for people with no formal employment possible?

For the last 3yrs I have not had a job (and income) for personal reasons. I am just entering trading with some small amount. Would I be able to get a brokerage account? I am looking at ICICI, Sharekhan, Zerodha etc and all want to know about occupation, income etc. I have PAN card from some years ago when I had a job and was paying taxes, but since no income after that, I have not paid taxes.

Also does Zerodha charge Rs.20 on every buy and sell order (Rs.40 in total), or only after both buy and sell have been completed (Rs.20 in total)?

Thanks in advance.

your query is surprising

most of the traders donot have a regular job or income-

That is why , they were here :lol:

proceed and open a account with any discount broker

yes u can open a brkg account without income proof. u need to furnish you bank statement copy along with other docs.

regds,
s

Hi,
ur query is really surprising.
All brokers want u to trade so that they can earn money.:lol:
Nobody is bothered abt occupation etc. u can even select self- employed. no body is going to ask any proof.
income prrof is required for fno trading, and last 6 mths bank statement with regular transaction is enough .
within a week trading account will be opened.
If u have small amt, pls avoid icicidirect. don't know abt sharekhan.
go for broker who charges 0.01% or lower for intraday.
Zerodha suits ur requirement as well. its brokerage is 0.01% or rs. 20 whichever is lower.
it is rs 40 in total.
since u r new, don go for fixed monthly plan given by other brokers charging 2000 unlimited per month etc.
One discount broker is charging only rs99 pm for equity segment it seems. don't remember its name. If not zerodha, go for that.
do visit other threads regarding risk management.
:thumb:
Happy trading !

Thanks for clarifying guys !

Regarding income proof, can someone give more details? My bank statement shows only withdrawals and no deposits I only have small amount (less than 1lakh) in banks, rest in FDs... Will this be acceptable?

Another question. I am not looking to trade intra-day - probably looking at a trading window of few days/weeks/months. I am also not looking to trade futures or options at this point. Zerodha says "Stock investments are now FREE at Zerodha" and "Rs 20 flat for F&O and equity intraday trades" . Does it mean that in my case, I will be able to buy and sell for free, say for example when I buy an equity and sell it after 1 week??

I had similar query while opening zerodha acct. they told they r concerned with regular use of bank acct in 6 mths. that's it. so I think only withdrawals wil not be prob.
ya all delivery transactions z brokerage free in zerodha. of course taxes will be charged.

Hi guys, just one more query. Some brokerages (RKSV in particular) mentioned that last year's IT return is necessary for opening account. I had no income, so
I did not file any IT return. Is this going to be a problem, and if yes, what can be done regarding this?

So you are saying unless you have an occupation and income you are not allowed to trade?

you sud be indian having a bank account thats only requirement to trade , khelo india khelo :lol:

Thanks guruji :thumb: