How do I activate commodity trading on the Multi Commodity exchange (MCX) via Console?
If you wish to trade commodities on the Multi Commodity Exchange (MCX), you can do so by enabling the commodity segment from Console after your Zerodha account is opened.
Follow the steps mentioned below.
- Log in to Console .
- Under the commodity segment, click on the Activate segment button. (Alternatively, you can also click on Account > Segments).
- Click on the Commodity account button and then Continue.
- From the dropdown, select the income range, Trading experience & Commodity trade classification.
- Attach the income proof and if the file is password-protected, please provide the password under the “File password tab”.
Following documents are considered valid income proof documents, you can choose to provide any one of the following.
- Bank statement for the last 6 months with an average balance of more than ₹10,000.
- The latest salary slip with gross monthly income exceeding ₹15,000.
- ITR acknowledgement with gross annual income exceeding ₹1,20,000.
- Form 16 with gross annual income exceeding ₹1,20,000.
- Certificate of net worth more than ₹10,00,000.
- Statement of Demat holdings with holdings value exceeding ₹10,000.
Please see the following GIF for a better understanding.
- You will be redirected to e-sign the document via Digio and NSDL. Click on Proceed to e-sign > Sign now.
- On the NSDL page, enter your Aadhaar number (linked to your mobile number) and validate the OTP.
- Your commodity account will be activated within 48 hours, post the OTP verification.
Zerodha will charge ₹100 (as a ledger debit) to enable the commodity segment if you opt to enable the same.
If you get an error "Failed to esign" while trying to enable the commodity segment from the Kite app, please log in to console.zerodha.com from the Google Chrome browser and retry the process.
If you are an existing Zerodha account holder but do not have your mobile number linked to Aadhaar, you can open a commodity account offline. You need to download the ' Commodity trading ' form, print it, fill it and sign it along with your proof of income mentioned above and send it to:
#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078
You will be charged ₹ 200/- for opening your commodity account offline & once the forms are received at our office, the commodity segment will be activated in 48 hours.
- It takes up to 48 hours to activate the commodity segment if everything is in place.
- If you have paid for the commodity segment earlier but not enabled the same or signed up for the commodity segment, you will not be charged for enabling the same via Console.