Can I have two Demat accounts in India? 2 or multiple accounts
- Asked By
- Updated On:24-Feb-2021
- Replies:2
Short Answer
Yes, you can have multiple demat accounts with different stock brokers in India. But, what's the need to have 2 demat accounts? Just have a single demat account with a good popular broker. That's it!
Detailed Answer
A trader can keep as many demat accounts as he wants with different brokers. Amongst which one is always primary and others are secondary accounts. I think there isn't any issue in having 2 demat accounts. You can have more than 1 demat account. It's upto you how you manage them.
But, I personally feel having only 1 demat account is perfectly fine. Since it saves cost and you can manage well. Why to pay extra account opening and maintenance fees to different brokers? Right!
However, if you still want two different demat accounts, you can keep one with your favourite broker and can open one with another. Why add to the cost by opening another account with AMC and account opening charges?
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Discussion (1)
Absolutely, you can open two or more demat accounts with one single bank account. You can, later on, add other bank accounts to your demat account as per your requirements.
I was just going through some stock broker reviews. So, I thought of sharing my opinion, A side by side Comparison of two popular stock brokers: Sharekhan vs. Zerodha.
The Securities Exchange Board Of India (SEBI) has proposed a new 'T+1' settlement cycle, under which shares will be settled/transferred from the sellers' Demat account to the buyers' Demat account in one day or under 24 hours. This will be implemented on an optional basis on the exchanges from January 1, 2022. Exchanges like NSE and BSE will have the liberty to select any script that they want to shift into the new regime.
In this current day and age, options trading has become the new cool thing that everyone wants to try. There are many option trading platforms out there that provide various Option trading tools. Sensibull and Opstra Definege are 2 of the most prominent names in the industry.
Both of them provide all the necessary tools like OI (Open Interest) Charts, PCR (Put-call Ratio), IV (Implied Volatility) chart, etc. But the main question lies, which one of them is a better platform for Options trading. Let's find the answer to that question.
You might have read about different stock brokers in India. Here I'll review two of the most popular discount brokers in India: 5Paisa v/s Zerodha Comparison.
HDFC Securities is not a discount broker like Zerodha and Upstox, and its fees are higher when compared to them. Despite this fact, HDFC Securities is among the popular full-service stockbrokers in the country.
If you're looking for a straightforward and comprehensive take on options trading, then Sensibull should do the job perfectly. However, if you're and expert and want more complex trading tools, then Opstra is the one to choose.
For closing the Sharekhan Demat account, the process is quite simple as with other stock brokers in India. Download the application closure form, fill up the details & submit it in the nearest branch.
Yes, one can have multiple demat accounts, but there is a restriction: you cannot open more than one demat account with the same depository participant (DP) or broker. Instead, you can open other demat accounts with different brokers.
You are required to fill up and submit a number of forms and documents via post to open a Zerodha account as an NRI. Continue reading and be informed.
shikha
Why do you need to maintain 2 demat and trading accounts? When you can hold all your securities, mutual funds at one place, there seems no need to bear charges for two or more of them. These days, there are brokers offering a 3-in-1 demat and trading and saving account also. That's all the more convenient. What say? Agree to it.