How to open o a broker account online in Nepal easily? If so, you are in the right place. If you want to invest or trade in the stock market, it is important to understand some of the basics of the share market.
What is the share market?
The share market is the platform for buying, selling, and issuing shares of public companies. It is also called the stock market and stock exchange. Investors and buyers are the main characters in this. In most countries, the stock market is regulated by government bodies. In Nepal, there are bodies like the Securities Board of Nepal and Nepse to regulate it.
Some things you need to know before opening a broker account
1. Demat
Demat or Demat account is the method of keeping the shares of the investor in computerized or electronic form. This is the first step to entering the stock market. Accounts can be opened at most banks, capitals, and brokers. Also, this can be done online.
2. Mero share
Mero share is an online portal of CDSC which keeps complete details of share transfers and Demat details. It is mandatory to transfer shares after selling the shares. Through this, ipo, fpo, right share of various companies can also be applied.
What are brokers and broker accounts?
A broker is an agent who works for a commission. The person or firm that manages to buy and sell investors’ shares is the broker. Similarly, a broker account is an investment account from which stocks, bonds, mutual funds, etc. can be bought and sold.
How many brokers are there in Nepal?
There are about 50 breaker companies in Nepal. Most of them are located in the capital Kathmandu. They also have offices in cities like Pokhara, Bharatpur, Biratnagar, Butwal, and Dang.
The process of opening a broker account is the same in almost all companies. In some broker companies, it is enough to just fill up the paper form, while in others, it is enough to just fill up the online form. In some cases, both types of forms have to be filled and the client himself has to be physically present there in the office.
Which is the best broker in Nepal?
In Nepal, brokers are often accused of not sending investors’ money on time, not being friendly, and being unresponsive.
But in my personal experience, ABC Securities (Broker No. 17) and Midas Stock (Broker No. 21) seem appropriate. I have found that they are different from other companies.
How to open a broker account online in Nepal easily?
You can visit any broker’s website and apply for an online account. But in most cases, even after doing this, you have to be present in their office. But if you are abroad or in a remote village, it may be a little uncomfortable. But I will tell you the broker and method of applying online easily in Nepal.
1. Go to the browser of your mobile or laptop. And type www.midasstock.com.np and hit the search button.
2. Go to the bottom of the page, find the download from the Under Quick link, and click.
3. Then scroll down again and find the Midas Kyc form(individual client) and Nepse Online Agreement form(individual) then download both of them.
4. There are 4 pages of Kyc form and 3 pages of Nepse online agreement form. Print them and fill in all required details.
5. Then scan or take a photo of each. Also, you must have a citizenship photo of both sides, a photo of the client, a photo of the bank cheque, and a photo or screenshot or downloaded of my details (inside mero share).
6. After that go to browser again and search or type www.tms21.nepsetms.com.np or you will find after search tms21. Then click on New registration (online trading account opening).
7. Fill all areas with exact information (a red star is mandatory but you may skip non-mandatory).
8. In the documents upload section, upload the documents before mentioned (5 and 6). You can also upload other documents as your wish. In Midas KYC form and online trading agreement form of upload click on the plus button after uploading one page and so on.
Within 24 hours or less (if no public holiday) you will get an email that you entered before. And you will get the client id and password. You have to reset your password after clicking the reset password link. Then you can enter your journey into the share market of Nepal.
Last word
Through this process, you can easily open a broker account online in Nepal. You may choose other brokers as your interest. But before investing in the share market try to get more information about those companies which can give more profit to you.
