How KYC works
Know Your Customer is a regulatory requirement, not a broker formality. Here is what each step is actually for.
Why KYC exists
KYC requirements come from regulation, principally anti-money-laundering law and SEBI rules. Their purpose is to establish that you are who you say you are, that the account is operated by you, and that funds are traceable to you.
That is also why some steps that feel like friction — bank account in your own name, no third-party transfers — are not the broker being difficult. They are legal requirements the broker cannot waive for you.
What you will be asked for
- PAN — mandatory. Validated against income tax records.
- Proof of identity and address — usually Aadhaar, verified digitally via OTP to your Aadhaar-linked mobile.
- Bank account proof — in your own name. Payouts can legally go only to your own account.
- Signature specimen — on plain paper, matching your bank records.
- Photograph and in-person verification — typically completed digitally through a short video step.
- Income proof — only if you want to trade derivatives.
The KRA system, and why onboarding is sometimes faster
SEBI-registered KYC Registration Agencies hold KYC records centrally. If you have completed KYC with any registered intermediary before, parts of your record can be fetched rather than re-collected. This is why opening a second trading account is often quicker than the first.
You will still complete broker-specific steps: segment selection, tariff acceptance, and e-signing the account opening form.
The one rule that protects you throughout
Every OTP in this process is entered by you, on the official app or website. No employee, agent or partner of any legitimate broker needs your OTP, password or PIN at any stage of onboarding.
A representative may stay on a call and talk you through the screens. That is normal and helpful. Asking you to read out the code, or to let them fill the form using your credentials, is not — and it is the most common way trading account fraud begins.
Why applications get rejected
- Name mismatch between PAN and bank records, including initials and expanded surnames
- Mobile number not linked to Aadhaar, which blocks the e-sign step
- Unclear document images, or photographs of a screen
- Signature that does not match bank records
- Missing income proof for derivative activation
After activation
You receive a client code and demat details from official channels. Keep your application reference number until the account is live. If you are contacted about your application from a personal mobile number, treat it as suspicious and verify through published support channels.
Apply this to us
Everything above is a test you can run on Trade Grow. We would rather you did.