Open Your Free Demat &
Trading Account

FAQs

Questions? We have answers.

• 01How do I open a Quantxs demat account?+

  You can open a Quantxs demat account online for free if you are a resident Indian with your mobile number linked to your Aadhaar.

  Required documents

  • PAN number
  • Aadhaar number linked to your mobile number
  • Bank account details: A personalized cancelled cheque with your name or a bank statement/passbook showing the account number, bank logo, seal, MICR, and IFSC code
  • Income proof (required only for F&O trading¹)

  Steps to open your account

  1. Install the Quantxs app from the App Store or Play Store, or visit signup.quantxs.com.
  2. Enter your mobile number and click on Get OTP. Enter the OTP and click on Continue.
  3. Verify your email ID by selecting Gmail or by entering your name and email ID, then click on Continue.
  4. Enter the OTP you received on your email ID and click on Continue.
  5. Enter your PAN number and date of birth, then click on Continue.
  6. Select the segments you would like to trade in, accept the terms and conditions, and click on Continue.
  7. Enter your Aadhaar number, OTP, captcha, and 6-digit Digilocker PIN to verify your KYC. Then click on Continue.
  8. Enter your personal details and click on Continue.
  9. Link your bank account using UPI or by manually entering your bank account details, then click on Continue.
  10. Complete the In-Person Verification (IPV) by ensuring you are clearly visible and click on Capture (you must enable your camera). Then click on Continue.
  11. Click on Sign, draw your signature on the screen or upload a copy of your signature, and click on Save.
  12. Upload documents (If required): Bank proof (if you entered the bank details manually) or income proof (if you want to trade in F&O¹). Click on Continue.
  13. If you wish to add a nominee, click on Add nominee, enter the nominee details, and click on Continue. Quantx recommends adding a nominee. However, you can also add a nominee later after your account is opened.
  14. Click on Sign now and digitally sign your account opening forms using your Aadhaar number, OTP.

  The user ID is displayed as soon as the account opening forms are digitally signed. However, orders can only be placed once exchanges activate the account. Your account will be opened within 48 working hours, and Quantx will also email your account credentials to your registered email address.

  You can find detailed information about the charges applicable to individual accounts on the Quantxs charges page.

• 02Any fee to open an account?+

  No. Completely free — zero opening fee, zero demat fee.

• 03What details does Quantxs collect when you open an account, and why?+

  You need to provide specific details when opening a Quantxs account as per SEBI regulations. In addition, depositories are required to collect additional information when opening a demat account, as per this SEBI circular. The following information is collected from the person or entity signing up:

  Mobile number and email ID: Mobile and email are verified through One Time Password (OTP). This information helps Quantxs, exchanges, and depositories convey important information to you. You can update your contact details if needed

  Permanent Account Number (PAN): PAN is the sole identification number for all transactions in the securities market and is required to conduct online KYC, including fetching CKYC details, as necessary for trading and demat account opening in compliance with KRA regulations and PMLA guidelines. SEBI mandates PAN collection as it acts as a unique identifier, verifying your identity, eligibility for trading and demat accounts, and compliance with Know Your Customer (KYC) norms across exchanges and depositories.

  Address Proof: If your Know Your Client (KYC) is registered with the KYC Registration Agency (KRA), Quantxs fetches your address from the KRA. If you are not KYC registered with the KRA or want to update your address, you must complete the process through Aadhaar using Digilocker, a digital platform provided by the Indian Ministry of Electronics and Information Technology. Quantxs extracts your address and saves an XML copy of your Aadhaar with the address. Your Aadhaar number is not copied or saved anywhere else.

  Bank account details: Bank details such as the client’s account number, Indian Financial System Code (IFSC), and Magnetic Ink Character Recognition (MICR) code are collected to ensure secure fund transfers. Quantxs’s verification process ensures that the bank account belongs to the client and is linked to their Quantxs account. These details are also shared with depositories to ensure payouts for corporate actions like dividends are accurately credited.

  Background Information: Background information, such as name, date of birth, photograph, address, educational qualifications, occupation, residential status, trading experience, income details, marital status, and declaration of political exposure status, must be collected for regulatory compliance and risk assessment.

  Nominee Details (Optional): If you choose to add a nominee, you need to provide the nominee's name, mobile number, and email address. Quantxs collects this data to ensure that your authorized nominee can be verified and perform specific actions during claims and settlements.

  Income proof: An income proof is required to ascertain the financial capability of clients who want to trade in derivatives. It is a protective measure to prevent excessive risk-taking. Additional documentation may be collected as per the PMLA guidelines to ensure the legitimacy of the transactions for transactions exceeding specified thresholds.

  Signature proof: The physical signatures serve as an authentication measure when cross-referenced with the submitted application forms. This process guarantees that any request form can be verified against the client’s signature as and when required.

  Video In-Person Verification (IPV): A short video is recorded with a time stamp, IP address and location to verify the person signing up with Quantxs is the same person opening an account.

  The above information is collected as per regulations and enhances the trading experience. Quantxs is committed to protecting client data and ensuring privacy through robust security measures designed to prevent unauthorised access, data breaches, and misuse of personal information. To learn more about Quantxs’s privacy policy, visit Quantxs.com/privacy-policy.

  Clients who have any grievances regarding data protection can follow the stages of the grievance redressal mechanism:

  1st stage: Create a ticket to raise a complaint.

  2nd stage: File a complaint to the Data Protection Board. Quantxs will communicate the process for filing a complaint once notified.

  3rd stage: Appeal before the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).

• 04How long does it take?+

  10-15 minutes online. Account active within 24 working hours.

• 05Need physical documents?+

  No. 100% digital via PAN + Aadhaar OTP. Nothing to print or courier.

• 06What is a Demat account?+

  Holds securities digitally. Mandatory for equity delivery. Quantxs opens both accounts together.

• 07Can NRIs open an account?+

  Yes, subject to RBI/FEMA regulations. Contact nri@quantxs.com.

• 08How do I close my Quantxs demat account?+

  You can close your Quantxs demat account online, directly from the Quantxs app, in a few minutes. There is no account closure fee, and if there are no pending dues on your account, we complete the closure within 2 working days of your request.

  Before you apply

  To make sure your request goes through smoothly, please do the following first:

  Close all open positions — square off or let expire any open F&O, currency or commodity positions. An account with open positions cannot be closed.

  Clear any debit balance — including brokerage, DP charges, AMC or delayed payment charges, so your ledger is at zero or in credit.

  Withdraw your available funds — any credit balance left after closure is refunded to your registered bank account.

  Unpledge your securities — pledged shares cannot be transferred or closed until the pledge is released.

  Decide what to do with your holdings — sell them, or transfer them to another demat account in your name (explained below).

  Download your reports — contract notes, ledger, tax P&L and holding statements. You will not be able to log in once the account is closed.

  Keep your Aadhaar-linked mobile handy — you will e-sign the closure request with an Aadhaar OTP.

  How to close your account — step by step

  Log in to the Quantxs app with your Client ID.

  Go to Profile and tap the Account Closure button at the bottom of the screen.

  Choose a reason for closing your account on the screen that opens. This helps us improve.

  Tell us what to do with your holdings. If you hold securities, enter the details of the demat account they should be moved to (DP ID and Client ID) and upload the Client Master Report (CMR) of that account. If you have no holdings, skip this step.

  Review and e-sign the closure request using the OTP sent to your Aadhaar-linked mobile number.

  Confirm your request — you will receive an acknowledgement on your registered mobile number and email. From this point, no new orders can be placed on your account.

  Receive your closure confirmation — once the account is closed, we send you a confirmation by email within 2 working days.

  You can track the status of your request in the app until the account is closed.

  What happens to my shares and mutual fund units?

  You have two options for any securities in your demat account:

  Transfer them to another demat account with any depository participant, on CDSL or NSDL. The receiving account must be identical to your Quantxs account — same name(s), same PAN(s) and, for joint accounts, the same order of holders. There is no charge for moving all your holdings to your own identical account on closure.

  Sell them before you apply, wait for settlement, and withdraw the proceeds.

  If the receiving account is not identical (for example, moving from a joint account to a single-holder account), the move cannot be done as part of closure. It would need a regular off-market transfer, which attracts DP charges and may have tax implications.

  What if I have outstanding dues?

  If there are pending dues, we will inform you of the amount within 2 working days of receiving your request.

  You will have up to 30 calendar days to clear them.

  Once cleared, we complete the closure within 2 working days of the payment.

  If the dues are not cleared within the given time, the closure request is rejected and we will inform you, along with the outstanding amount. You can apply again once the dues are settled. Charges

  Account closure fee: Nil

  Transfer of all holdings to your own identical demat account on closure: Nil

  Pending dues on your ledger must be cleared before closure. See our Pricing page for the full schedule of charges.

  After your account is closed

  Your linked Quantxs trading account is closed along with your demat account.

  Any remaining credit balance is refunded to your registered bank account.

  Dividends or other corporate benefits declared after closure are paid as per the company’s records. If a payment does not reach you, contact the company’s registrar (RTA) with a copy of your closure confirmation.

  Keep your closure confirmation email for your records.

  If you wish to trade with us again, you can open a new account at any time from the app or at www.quantxs.com/open-demat-account.