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How do I open a trading account without opening a Demat account?

You can’t open a trading account without opening a Demat account with Zerodha. 

A Demat account is required even if you trade:

  • Equity intraday- As open intraday positions can go into delivery if the position is not closed before the end of the day. These shares are required to be settled to your Demat account.
  • F&O contracts- All Stock F&O contracts starting from October 2019 are being settled physically, which requires the stocks to be settled to a Demat account in case of a take delivery position and debited from the Demat account for give delivery positions. You can read more about the physical settlement of stock F&O contracts here