I recently created my account via Niyo X, just want to clarify does it also opens a demat or trading account on my behalf automatically because I recently saw that Stocks are being introduced in your app?
@Gokul_Krishna_N. Yes it a 2 in 1 account where you can buy MF with 0% commission
@Tousif27 For Mutual Funds, Demat isn’t required to buy Mutual Funds in India, it can purchased through online distributors. That’s the reason I’m asking does opening a Niyo X account is indicative that I’ve given authorisation open a Demat & Trading account on my behalf?
No. AFAIK you will have to open demat/trading separately. Niyo is offering demat and trading account in collaboration with 5Paisa. So kyc and documentation for the same will be done separately.
You have to separately open demat account. That product is not available at NiyoX as of now. You can use Niyo Money app and use those features presently.
@Gokul_Krishna_N At the moment, Stocks and ETFs offering is available in Niyo Money app. You can access it from Niyo Money app if you are already investing in Mutual Funds through Niyo X Equitas/Niyo Money