Yes. Choice is absolutely safe. The company is a depository participant of CDSL and is also a member of BSE, NSE, MSEI, MCX and NCDEX. Established in 2010, it has been “Nurturing Financial Excellence” for over two decades now.
You can open a Choice account online, on the website or by downloading the Jiffy app. To create an account using the website, fill in the required details on the website and upload the documents. Complete the in-person verification. Once done, the Power of Attorney (POA) will be sent on ur email which needs to be signed and sent to the Choice office.
Opening an account is a very simple process.
Firstly, install the app Jiffy (Android and iOS) and click on “Don’t have an account” on the login page.
Registration requires a few documents. The documents include Address proof, PAN card, Photograph, a cancelled cheque, your signature on a white paper and income proof. Once these documents are ready with you, click on “getting started”.
Enter your mobile number and PAN number. Also, upload an image of your PAN card and give in other details required.
Fill in other basic and address details in the space provided.
If you opted to add a nominee, give in the details pertaining to the same.
Provide your economic details related to your educational qualifications, income slab, occupation, etc.
Once that’s done, upload an image of the cancelled cheque and enter other bank details.
Now select the segment you want to trade-in. The options available are equity, derivatives, currency, commodity.
The next step involves in-person verification, which requires you to write the OTP provided on a white sheet, click a selfie clearly showing your face and the OTP.
Upload other documents required.
You will now enter the eSign page wherein you have to enter your Aadhar number and request for OTP. Once the OTP is received and entered, clicking on Submit will complete the process.’
You can also opt to send the documents to the company by way of courier.
For step by step guide click here.
Trading on securities using the Jiffy app is effortless. Firstly, download the app (Android and iOS) and create an account. Once that’s done, you can search for scrips using the search option. The detailed information of the stock will be displayed. You will find a research option from where you can initiate your trade.
To close the demat account, download the account closure form available on the Choice app. Fill in the relevant details and send the signed copy of the same to their office. Your account will be closed.
Following the below steps will help you transfer the amount into your bank account in T+2 days
Once you open the app, under Fund Details, click on Withdraw and select the exchange you wish to withdraw funds from.
Enter the required amount.
The bank set as default will be selected. You can change it in case you have multiple accounts. Once selected, give in remarks, if any.
Tap Withdraw. You will receive an acknowledgement email and SMS.
Account opening with Choice broking is free of charge along with the first year AMC. After the completion of the first year, AMC is charged at ? 200 per year.
The choice account cannot be closed online. Also, before you close the account, clear any outstanding dues, any open positions, and the securities to another demat account. Follow the below steps to close your choice broking account.
You can find the account closure form on the website.
Download it, fill in the required details on the form and submit it to the broker office.
Certain documents like income proof, IT returns, salary slips, Networth Certificate, and demat holding certificate are required to activate the F&O account on Jiffy. Once you create a trading account, you can use the same for trading in any asset class.
You can download the Jiffy app (Android and iOS). Once downloaded, you need to create an account by entering in the relevant details and uploading a few documents. The app is now ready to be used. You will find a wide range of options that you can use and ease your trading experience.
Jiffy is an online trading platform powered by Choice. It is available on both, website and as an application. The platform aims to use customer feedback and change the process of traditional online trading. Jiffy is a user-friendly app providing a wide range of facilities. The opening of a demat account is absolutely free. Moreover, the clients are also provided with rewards on opening an account with Jiffy.
To withdraw money from your Choice account, proceed with the following steps:
Log in to your Choice account.
Go to “Funds” under “Menu”. “Funds” can also be accessed from the “Dashboard”.
Select the exchange you want to make the withdrawal from.
Enter the withdrawal amount.
In case multiple banks are mapped to your demat account, select the bank account you want to withdraw funds from.
Enter a remark.
Click on “Withdraw”.