A trading account facilitates buying and selling shares in the stock market but does not hold any financial securities. It acts as a link between a bank account and a Demat account, making stock trading hassle-free. However, if there is no transaction on a trading account in any of the segments for more than 1 year or 365 days, it becomes Dormant. Here we discuss why your Angel One trading account becomes dormant and how you can reactivate it.
An account will be classified as inactive when
1. You have not performed any of the following activities in the period mentioned above:
1.1. Entered into any trade in any of the segments
1.2. Invested in any instrument
1.3. Initiated any pay in and payout of funds
2. You have not filled all the mandatory fields
The primary purpose of terming an account as dormant is to reduce the chances of fraudulent activities, like scammers trying to use your account to engage in illegal activities by changing your KYC information. This identification also draws the brokers’ attention to the increasing dormant accounts, which helps them take preventive measures.
Here’s how you can reactivate your trading account
Whether you want to start trading again, invest in financial instruments, or close your account, you need to reactivate it first if it is dormant. Also, it will help protect your account from scammers who may carry out illegal activities via your account in the stock market.
To reactivate your account, you need to send a reactivation request from your registered email address. After which, we will have to follow the procedure as prescribed by the exchange. Click here to know more about the process.
If you want to modify your details, like your mobile number or email address, you must fill in a modification form and submit the required documents.
If you have multiple trading accounts and have not used a few of them for over a year, it is advisable to deactivate them to prevent yourself from fraudsters. However, if you want to start trading again, you need to activate your inactive trading accounts. If you have permanently closed your account, you will have to open a new account following the account opening process.