Why do I need an Angel Broking/Interactive Brokers account?
Minance is a sub-broker of Angel Broking and Interactive Brokers (for International equities only). Thus, for us to manage your investments, you will need to open the required account.
Can I use an existing broking account?
Unfortunately, we can only accept Angel Broking and Interactive Brokers (for International equities only) accounts.
Can I link an existing Angel broking account with Minance?
Yes, you can use an existing Angel Broking account as long as it has been dormant for six months or longer.
Can I use my Minance account for personal trading and investments?
No, we advise you to use a separate trading account for your other investments.
Who controls my account?
You. Your Angel Broking/Interactive Brokers trading and demat account is held in your name and only you have the password for it.
You have complete capital control over the account and are free to monitor its status. As your sub-broker, Minance has the right to execute trades on your behalf. At no point in time will Minance ask you for your account password.
Is there any account opening charge?
No, there is no account opening charge with us here at Minance. Angel Broking charges you an Annual Maintenance Charge of ₹567 (exclusive of taxes) at the end of the second year. The are no charges for the first year.
Can an NRI invest with Minance?
Unfortunately, anyone holding an NRE/NRO bank account cannot open a trading and demat account with Minance. We can only open an account for someone with an Indian Savings/Current account.
What is the minimum age to open an account?
To open an account in an individual’s name, the individual must be at least 18 years of age. However, an account for a minor can be opened along with a guardian. The tax liabilities for the account would be on the guardian.
What is the minimum investment?
The minimum investment amount required to open a Minance account is ₹5,00,000.