FAQs For KYC – Trading Account
Trading Account and Demat Account are opened as per name on the Pancard. Since Pancard is issued in the name of person and not in the name of the proprietorship firm, the trading account and demat account can be opened only in the name of a person and not his\her proprietorship firm.
Yes, you may arrange for a pickup of all the documents relating to the process of account opening. in case of Non Individual form.
You can arrange for a pickup by contacting your our online Team calling us at 079- 6666 9000 Ext 200 or mailing us at email@example.com Please note that pickup is subject to availability.
If you have applied for opening an account with TradesApp\KUNVARJI and upload your documents, it generally takes 24-48 working hours for your account to be activated after verification and Aadhaar E-sign.
Any discrepancies in the submitted forms or documents would delay the account opening process.
Once your account has been opened, you would receive a welcome email from ‘firstname.lastname@example.org to your registered email address. This email will also have your login ID and the link to set your password.
Yes, you can open commodity accounts without opening an equity account.
No. If you wish to take delivery of commodities, then you have to open either CCRL or NERL or ComRIS account (depending upon the commodities you want to deal in and the Exchange on which you want to deal in).
You can’t open a trading account without opening a DEMAT account with KUNVARJI.
To open an account offline you can call us at 079-6666 9000 Ext : 215 or mail us at email@example.com. Our team will be in touch with you.
The documents required to open offline account are listed below:
a. Photographs to be pasted on the KYC form and sign across it.
b. PAN Card – self-attested
c. Address Proof – self-attested – (Driving License, Voter ID, Passport, Aadhar Card, latest Bank statement (with bank name, branch address, MICR & IFSC Code, your name and address etc.) – any one
d. Income Proof – self-attested – ( ITR, Form 16, 6-month bank Statement – any one) – Needed only if you wish to trade in Futures & Options, currency derivatives or commoldity derivatives
e. Cancelled Cheque should have your name pre-printed on it, if not please attach your latest Bank Statement along with latest Transaction.
If you have an existing account at KUNVARJI, and you want to open an account for another Individual, you can do so only if you want to open account of either your spouse, son/daughter or dependent parents.
However, if you’re an existing account holder at KUNVARJI and you want to open a Non-individual account i.e HUF, Partnership or Corporate accounts, You have to contact our KYC dept, as such accounts can be opened through offline mode only.
Note: If you already have a single mobile number/ email registered with multiple accounts you will have to provide a signed relationship declaration form to continue using the same mobile number and/or email id. : Only Depended Parents and Children Mobile No. can be mapped with respective Accounts.
You can use the account if you’re moving abroad for a short-term period (6 months). The status doesn’t change to NRI. Anything over a period of 6 months, you become an NRI and should change the account.
If a person leaves India for the purpose of employment, business or for any other purpose that indicates his intention to stay outside India for an uncertain period; then he becomes a non-resident from the day he leaves India for such.
In both the cases, the onus is on the client to declare his residential status. You can either convert your existing Trading & DEMAT account to an NRO trading & DEMAT account or close your resident account and open a new NRI account.
Power of Attorney (POA)
PoA is a document which gives us the authorization to debit your shares from your DEMAT account whenever you sell your shares.
If you have not submitted the PoA form, you will not be able to sell the shares you have in your demat account until you deliver physical Delivery Instruction Slip (DIS) duly filled in and signed for transfer of shares from your demat account to the settlement account (pool account) of Kunvarji.
If you have sent us your POA to our office, it generally takes us between 24-48 working hours for it to be linked to your account after receiving it.
You can download the POA from TradesApp Website (www.tradesapp.in). The POA requires to be signed and couriered to Registered Office, Ahmedabad as non-judicial stamp paper has to be attached to POA.
The POA is to allow KUNVARJI to debit shares from your demat account when you sell them on the exchange. If you have not submitted the POA, you will not be able to sell shares unless physical DIS slip submitted by you.
You need to fill your name and client code along with your signature on the first page of the POA. On the second page you need to sign along with the name, signature and address details of a witness.
In case an individual is opening an account using the online process, it would be assumed that the individual has temporarily chosen not to nominate a nominee.
In case the individual wishes to nominate a person, he or she would have to fill out a Nomination Form, sign it, get the signature of a witness and courier it to our head office address. Nomination form can be downloaded from our Portal. It’s important to note that the nomination will be applicable to your trading + demat account.
1. If you want to change the nominee after you have already opened your account and nominated someone, you will be charged Rs 25+18% GST. For this, you will have to send the hard copies of the nomination form along with the Modification form (This can be downloaded from our Portal- www.tradesapp.in )
2. Non-individual accounts cannot have a nominee.
Yes, you can open a joint DEMAT account at KUNVARJI with the maximum of three joint holders. You will not be able to open such joint demat account online using Aadhaar. You will have to apply via the offline method i.e signing in our physical forms.
Even in the case of a joint DEMAT account, communications regarding the account will be provided to the first holder only. So the correspondence address on the DEMAT form will have to be that of the first holder.
The KYC along with supporting documents will have to be provided for all the joint holders (max up to 3) while opening the account.
Such joint demat account can be mapped with the trading account of the first holder only.
A trading account can be only in the name of a single person. The concept of joint holders is not allowed in case of trading account. A demat account can be opened with maximum three joint holders. In an existing demat account in the name of a single holder is not permitted to add a joint holder. One can close existing demat account held by single holder and open a new joint account as a Joint account. A demat account with two or three joint holders cannot be opened through online mode.
A HUF can open an account with KUNVARJI by getting in touch with us on our account opening department No.079-6666 9000 Ext – 215 It will be opened offline only
We will assign you RM and he/she will guide you through the process of opening a HUF account.
A HUF may open an account at KUNVARJI after duly submitting the below documents:
The Karta seal/stamp is mandatorily required on all the signature fields and proofs required. All KYC documents are also required to be attested by the Karta.
1. Duly filled documents of the Trading & Demat and/or Commodity forms along with the photograph of the Karta and signed across by him.
2. The PAN card copy of the HUF and the PAN card copy of the Karta.
3. Address proof copy of the HUF and the address proof copy of the Karta of the HUF.
4. Income proof in the form of the Bank Passbook/ Statement of the HUF indicating its existence.
5. Photocopy of the PAN card of the Co-parcener.
6. HUF Declation and sign of all coparceners.
7. Coparcener(s) signature required on the PoA.
Note: The Power of Attorney(PoA) has to be signed by all the members of the HUF. (Minor co-parcener/members signatures are not required). In case there are more than 3 co-parcener/members, the space between the signature boxes in the POA can be used as indica
The Refund & Cancellation policy for all payments made towards account opening using the payment gateway shall stand as under:
• In case your account has not been opened by our team even after the Week from the date of Updation of all necessary supporting documents and receipt of all due authorizations from you, you may request for a full refund of the charges as paid by you towards plan or account opening
• In case you have paid the charges multiple times, please raise the issue with customer care, and It shall get refunded in 3-4 working days automatically
An existing demat account of a client opened as resident individual cannot be converted to NRE demat account as NRE demat account is allowed only for the purpose of securities purchased out of funds remitted from abroad to India through inward remittance.
An existing demat account of a client opened as resident individual
can be converted to NRO account.
An existing Trading account of a client opened as resident individual can be converted to NRO trading account but cannot be converted to NRE trading account.
An NRE bank account is a bank account where both the principal and the interest earned can be repatriated abroad by the account holder at any time without any restrictions. Repatriation of funds from NRO bank account is allowed as per LRS scheme of RBI as per norms prescribed by RBI.
Documents required to convert the existing resident trading\demat account into NRO account –
• Account Modification Form – To update the Bank details and Overseas address in the CDSL.
• FATCA Declaration Form
• Declaration of P.O. Box – This is only for those who reside in the UAE countries.
• Notarised Copy of PAN card*
• Notarised copy of Overseas address proof* – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not more than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed
• In case of an Indian Passport: Notarised Copy of valid passport* with the place of birth as India, Copy of Valid Visa
• In case of Foreign Passport: Notarised Copy of Valid passport*, Copy of OCI card.
• Proof of Bank account ( a cancelled cheque leaf of your NRO savings bank account).
*Note: Copy of PAN card, Passport, and Foreign address proof to be notarized by Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker in the country where the NRI resides.
Yes, if you open an account online you will need to print out, fill & sign the below-mentioned documents and send the below forms to our office:
Note: You can Process these online using www.tradesapp.in
1. POA (Power Of Attorney) for equity delivery trades ( Ensure POA updation in Website) https://tradesapp.in/wp-content/uploads/2021/03/NEW-POA-INDIVIDUAL-AND-NON-INDIVIDUAL-24092020.pdf
POA is a document which gives us the authorization to debit your shares from your DEMAT account whenever you sell your shares.
2. A Nomination Form in case you would like to nominate another person after opening your account. ( Ensure Updation of Nomination form in Website ) ( Ensure Updation of Nomination form in Website ) https://tradesapp.in/wp-content/uploads/2021/03/New-Nomination-Form-2.pdf
3. if you open an account online you will need to print out Power of Attorney and Nominiation Form , to fill it & sign physically and send the same to our Registered office:
No, you needn’t send any documents if you open an account online, except POA and Nomination Form, if you wish to nominate your family member to your demat and trading account. You will need to print out both NEW POA INDIVIDUAL AND NON INDIVIDUAL 24.09.2021 and New Nomination Form, Fill up & sign these documents and send them to the KUNVARJI Head Office.
B-Wing, Siddhivinayak Tower,
Nr D.A.V School, Next to Kataria House,
Off S.G. Highway, Makarba,
Ahmedabad – 380051
Yes, you will have received a copy of your application forms on your registered email address after you e-sign the form and documents and the account is opened.
To open an account online, you can sign up using your mobile number on our TradesApp website. You will receive an OTP to your number and you can get started with the process.
You will be required to enter your PAN, bank account details and personal details to continue with the sign-up. Check out step by step Account Process on our TradesApp website or follow YouTube link https://www.youtube.com/watch?v=nmSz3Y_Qxz4
If you face any difficulties while opening an account online, you could contact your Online Team on – 079-6666 9000 Ext – 293
1. Aadhar Card
2. PAN card
3. Bank statement/bank passbook (with your name, address, Bank name, branch address and MICR Code and IFSC Code) or cancelled cheque (with name pre-printed and MICR Code and IFSC Code are printed on it)
4. To complete the eSign process, you will have to authenticate it with an OTP. So, make sure you have mobile whose number is seeded to your Aadhar card. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.
5. Income Proof –
It is mandatory to submit Income Proof if you wish to trade in Futures and options – Equity, Commodity, and Currency. You can submit one of the below documents.
• IT acknowledgement copy
• Last 6-month Bank statement
Note: The documents mentioned are for a Resident Individual Account.
Any Private or Public Limited Company which has enabling provisions in its MOA and AOA for trading and investment in securities, may open a Corporate account with KUNVARJI. It can be opened offline only.
You can get in touch with us on our KYC dept., on 079-6666 9000 Ext – 215 to do so. Our representative will guide you through the process of opening a corporate account.
All forms have to be sent to Kunvarji Registered Office –
B Wing, Siddhivinayak Tower, Nr D.A.V.School, Next to Kataria House, Off S G Highway, Makarba, Ahmedabad -380051
The forms can be sent via post, registered post, speed post or courier.
All brokers are required to carry out an IPV process for all clients. IPV or In-person verification as the name suggests is a process where the broker verifies the client and his documents in person, as per the Circular set by SEBI.
It is compulsory for every client to go through the IPV before opening a Trading and a DEMAT Account. IPV in the past used to be done physically where an employee of the broker would visit and verify.
Yes, one can open a trading Account and demat account of a minor child with signature of natural guardian (father of the child). Such account can be opened in offline mode only. A minor cannot buy securities on the Stock Exchange and cannot trade in any of the derivatives segment. A minor having a demat account and trading account can apply for IPO, hold shares received as gift/inheritance or allotment and can only sell such shares in market (sale order to be given by the guardian only)
• The account opening documents have to be filled by the guardian of the minor.
• In the KYC form, the guardian’s photograph has to be attached along with the minors photo.
• The Guardians KYC documents i.e ID proof, address proof has to be submitted along with the Minors KYC documents.
• The minor applicant’s PAN card and the Birth certificate must be submitted.
If any of the documents required to open an account are missing/not sent the application will be rejected and you’ll have to send the required documents again.
Other than this, rejections relating to documents or form submissions may arise due to the following points as mentioned below:
With respect to PAN:
• Your photo in the copy of PAN you have provided us is unclear – You’ll have to send us a clear photocopy of your PAN card in which your photo is clear.
• The photocopy of your PAN card is unclear – You’ll have to send us a clear photocopy of your PAN card.
• The photocopy of the PAN you have provided is not self-attested – You’ll have to send us a self-attested copy of your PAN.
• There is a name mismatch between your PAN and address proof.
Income proof as and wherever asked:
The income proof you have submitted is not sufficient to enable derivatives and we have just enabled equity segments. If you wish to enable F&O segments please send any of the following docs:
• A copy of your bank account statement or passbook with the latest 6 months transactions.
• A copy of your latest salary slip
• A copy of ITR acknowledgment
• A Copy of form 16
• A copy of your net worth Certificate
• A copy of your statement of DEMAT holdings
Bank details and required documents:
• The IFSC/MICR code is not printed or is not clear on the cheque/bank statement/passbook you have provided. You’ll have to provide us with an alternative bank document which has the IFSC and MICR code printed on it.
• There is a mismatch in name between your PAN card and your bank statement/ cancelled cheque
• The address proof you have provided is not self-attested. You’ll have to send us a photocopy of your address proof which is self-attested.
• There is a name mismatch between your PAN and address proof.
• The address proof you have provided is unclear, You’ll have to send us a clear self-attested photocopy of your address proof.
• The correspondence address you filled in the KYC page does not match with the address proof you have submitted. Please submit an address proof that matches the address filled or send us a new KYC sheet.
• The permanent address you filled in the KYC/POA/ECN page does not match the address proof you have submitted. Please submit an address proof that matches the address filled or send us a new KYC/POA/ECN sheet.
• Your photograph is missing in the KYC form. Please send us a new KYC form with a color passport sized photograph affixed and cross-signed.
There was overwriting of details in one or more places. You’ll have to send the correctly filled forms again.
2nd and 3rd holders:
You have opted to open a joint account. We would require a KYC form and self-attested copies of PAN and address proofs of all the joint account holders separately.
In all the above rejection cases, you will receive an email notification and also a call from your sales manager stating the reason for rejection and the instructions to follow to get your application processed correctly.
No, you will only be able to transfer funds from bank accounts that are linked to your KUNVARJI trading account. SEBI regulations mandate this.
If you have transferred funds from a bank account which is not either pre-registered with Kunvarji, you can mail us at firstname.lastname@example.org and submit the soft copy of your statement showing the debit transaction and along with that submit the below details
• Account Name:
• Account Number:
• IFSC Code:
• Bank Branch:
If you have transferred funds from an unlinked bank account which is in your name, you have the option to add the new bank account as a secondary bank, following which the funds will reflect in your trading account.
Accepted bank proofs are :
• Cancelled cheque (personalized)
• Bank statement (with IFSC Code and MICR No.)
• Bank Passbook/ bank statement
Note: The Bank Account needs to be in the name of the client only