Can a trading account be opened without opening a demat account?

No, 5Paisa does not allow a trading account to be opened without opening a demat account. This is due to the following reasons:

A demat account is necessary to settle open equity intraday positions each day that takes place in a trading account.
A demat account is needed for the physical settlement of stock F&O contracts.

Hence, it is important to have a demat account for your trading account on 5paisa.

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