Quick Answer: Can One Demat Account Be Used For Two Or More Brokers?

Can 1 person have 2 demat accounts?

Can multiple demat accounts be opened.

Yes, you can open more than one account at the same name either with same or different Depository Participants (DP).

An investor has to fill the KYC form every time he opens a new account..

Is Zerodha really free?

This platform is absolutely free since August 24, 2018. Here, you can make your investments without any commissions. With the help of Zerodha Coin, you can have Direct mutual funds in DEMAT form, with the convenience of one portfolio across equity, MF, currency, etc.

Which app is best for stock trading in India?

Still, have more questions to get clarified?Best Mobile Trading Apps In India.5Paisa Mobile App.Fyers Markets.Zerodha Kite Mobile App.IIFL Markets.Kotak Stock Trader.Upstox Pro.

Can we have 2 Zerodha accounts?

No, you can only open one trading account with Zerodha in your name. In case you want to open more than multiple trading accounts, please consider opening an account in the name of your family members.

Which trading account is best?

Here is the list of 9 best demat account in India.Zerodha demat account.Upstox demat account.5Paisa demat account.India Infoline (IIFL) Demat account.Sharekhan demat acccount.Angel Broking demat account.ICICI Direct demat account.HDFC Securities demat account.More items…•

Who is owner of Zerodha?

Nithin KamathNithin Kamath Nithin bootstrapped and founded Zerodha in 2010 to overcome the hurdles he faced during his decade long stint as a trader. Today, Zerodha has changed the landscape of the Indian broking industry.

Can I transfer my demat account to another broker?

The signature needs to exactly match the one in the database of the DP. After this, you need to submit this to the current broker. You may take a day or two to determine which shares to transfer to the new demat account. The broker may apply some charges for this transfer.

Which is better Zerodha or Upstox?

Compare Zerodha Vs Upstox brokerage, charges, leverage, margin, demat account and intraday trading….Zerodha Vs Upstox Brokerage.ZerodhaUpstoxAccount TypeFlat Brokerage PlanUpstox BasicEquity Intraday Brokerage₹20 per executed order or .03% whichever is lower₹20 per executed order or 0.05% whichever is lower9 more rows

What happens if I dont close my demat account?

If you do not pay the AMC for you’re demat account, following things will happen: … To close a dormant demat account; you have to reactivate it first. If you have no holdings and have a dormant account with a broker, they will not allow you to open another account.

Can I use two trading apps?

Yes. In the United States, one person can have many accounts. Legally you can have as many brokerage accounts as you wish. I have three just for E*Trade: regular account, SEP IRA, and Roth IRA.

Which broker is best for demat account?

Zerodha DematBest Demat Account in India – List of Top 10 Demat Account OnlineRankBrokerRatings1Zerodha Demat Account8.60/102Angel Broking Demat Account8.30/103Sharekhan Demat Account8.18/104Edelweiss Demat Account8.14/106 more rows•Jan 10, 2020

Can I open demat account without broker?

You can open a brokerage account online. “One can open a trading and demat account online and get started but you will need to sign the Power of Attorney (POA) in physical format. This is as per the regulatory guidelines which can change in the future.

Can I trade with two brokers?

Yes, you can legally have multiple stock trading accounts but each one of them should be with the different broker. It is not possible to have more than one trading account with the same broker. In a similar way, an individual can have multiple demat accounts but each one of them should be with a different broker.

Can I have 2 demat accounts India?

It is absolutely legal to open multiple demat and trading accounts. … You cannot have multiple demat accounts or multiple trading accounts with the same Depository Participant (DP) or the same broker. Therefore, if you have a demat account or trading account with a DP or broker, you cannot open another account with them.

Which demat account has lowest brokerage?

Lowest Brokerage – A Competitive AnalysisLow Brokerage Trading AccountTrading Account Opening ChargesDemat Account Maintenance ChargesWisdom CapitalFreeZeroZerodhaRs 200Rs 300UpstoxRs 200Rs 150 per yearSAMCOZeroRs. 400/ year

Which bank has lowest charges for demat account?

Bank Demat Account Charges (3-in-1 Account Charges)BrokerAcct Opening FeeBrokerage (Eq Delivery)ICICI Direct₹00.55%HDFC Securities₹9990.50%Kotak Securities₹7500.49%AxisDirect₹9000.50%3 more rows

Can I transfer my demat account to my wife?

Yes, you can transfer shares from any account to your account by giving off-market delivery instructions slip to holders DP. There are some minimum charges to transfer the shares.

Can shares be transferred?

While transfer of shares from one demat to another can be done online, the more popular method is the manual transfer of shares from one depository to another. There are broadly two types of transfer viz. intra-depository transfer and inter-depository transfer.

How do I transfer shares from father to son?

Yeah, you’ve mentioned both the options:Change share certificate to your name and then dematerialize to your Demat. Steps as you’ve mentioned.Open Demat in dad’s name, dematerialize into his Demat and then have the shares transferred to your Demat using DIS. You can avoid the RTA process.

Is Zerodha better than sharekhan?

The brokerage of Zerodha Max Rs 20 per trade while the brokerage of Sharekhan ranges between 0.1 to 0.5%. Zerodha is a Discount Broker where Sharekhan is a Full Service Broker. Zerodha is having overall higher rating compare to Sharekhan. Zerodha is rated 4.5 out of 5 where Sharekhan is rated only 4 out of 5.

What are the hidden charges in Zerodha?

Zerodha brokerage hidden charges include call & trade charges, position squared-off by broker and SMS trade alerts as explained below: Call and Trade feature is available at an extra cost of ₹50 per call. Additional charge of ₹50 per executed order for MIS/BO/CO positions which are not square off by the customer.