How do I close my Quantxs demat account?
You can close your Quantxs demat account online, directly from the Quantxs app, in a few minutes. There is no account closure fee, and if there are no pending dues on your account, we complete the closure within 2 working days of your request.
Before you apply
To make sure your request goes through smoothly, please do the following first:
Close all open positions — square off or let expire any open F&O, currency or commodity positions. An account with open positions cannot be closed.
Clear any debit balance — including brokerage, DP charges, AMC or delayed payment charges, so your ledger is at zero or in credit.
Withdraw your available funds — any credit balance left after closure is refunded to your registered bank account.
Unpledge your securities — pledged shares cannot be transferred or closed until the pledge is released.
Decide what to do with your holdings — sell them, or transfer them to another demat account in your name (explained below).
Download your reports — contract notes, ledger, tax P&L and holding statements. You will not be able to log in once the account is closed.
Keep your Aadhaar-linked mobile handy — you will e-sign the closure request with an Aadhaar OTP.
How to close your account — step by step
Log in to the Quantxs app with your Client ID.
Go to Profile and tap the Account Closure button at the bottom of the screen.
Choose a reason for closing your account on the screen that opens. This helps us improve.
Tell us what to do with your holdings. If you hold securities, enter the details of the demat account they should be moved to (DP ID and Client ID) and upload the Client Master Report (CMR) of that account. If you have no holdings, skip this step.
Review and e-sign the closure request using the OTP sent to your Aadhaar-linked mobile number.
Confirm your request — you will receive an acknowledgement on your registered mobile number and email. From this point, no new orders can be placed on your account.
Receive your closure confirmation — once the account is closed, we send you a confirmation by email within 2 working days.
You can track the status of your request in the app until the account is closed.
What happens to my shares and mutual fund units?
You have two options for any securities in your demat account:
Transfer them to another demat account with any depository participant, on CDSL or NSDL. The receiving account must be identical to your Quantxs account — same name(s), same PAN(s) and, for joint accounts, the same order of holders. There is no charge for moving all your holdings to your own identical account on closure.
Sell them before you apply, wait for settlement, and withdraw the proceeds.
If the receiving account is not identical (for example, moving from a joint account to a single-holder account), the move cannot be done as part of closure. It would need a regular off-market transfer, which attracts DP charges and may have tax implications.
What if I have outstanding dues?
If there are pending dues, we will inform you of the amount within 2 working days of receiving your request.
You will have up to 30 calendar days to clear them.
Once cleared, we complete the closure within 2 working days of the payment.
If the dues are not cleared within the given time, the closure request is rejected and we will inform you, along with the outstanding amount. You can apply again once the dues are settled. Charges
Account closure fee: Nil
Transfer of all holdings to your own identical demat account on closure: Nil
Pending dues on your ledger must be cleared before closure. See our Pricing page for the full schedule of charges.
After your account is closed
Your linked Quantxs trading account is closed along with your demat account.
Any remaining credit balance is refunded to your registered bank account.
Dividends or other corporate benefits declared after closure are paid as per the company’s records. If a payment does not reach you, contact the company’s registrar (RTA) with a copy of your closure confirmation.
Keep your closure confirmation email for your records.
If you wish to trade with us again, you can open a new account at any time from the app or at www.quantxs.com/open-demat-account.