About Opening Two Trading/Demat Account

[torontoguy]

I have one question regarding opening an account with two Co. Like Indiabulls and sharekhan, Can anybody keep two Trading accounts and two Demat accounts? on one name?

Thanks in Advance

 

[thimma]

yes you can.

 

[nileshilpa2000]

yes you can bcoz iti is like ur bank a/c u can open number of ban account,jes like that u can open dmat & trading

 

[novice1]

I have one question regarding opening an account with two Co. Like Indiabulls and sharekhan, Can anybody keep two Trading accounts and two Demat accounts? on one name?

Thanks in Advance

Be careful though that you do not apply for IPO multiple times using the same first name and from two different demat accounts

 

[ramanathank]

I heard from a TV channel that, it is illegal to have multiple Demat Accounts ..

 

[rrdesai_goa]

just like bank accounts, u can have as many as u wish with as many dp service providers.

i myself have 5 with 4 trading accounts, with one being used for my LT investments

 

[novice1]

I heard from a TV channel that, it is illegal to have multiple Demat Accounts ..

It is illegal to apply using MULTIPLE demat accounts for IPO ( you are supposed to apply only from one account) as far as I know. To trade you can have multiple demat accounts and trade as you like

 

[SavantGarde]

Some Points Of Multiple Trading & Demat Accounts.

1) Yes It Is Legal & Ok To Have Multiple Trading & Demat Accounts.

2) Although As Per The Rules You May Apply For An IPO Only Once.

3) Advantages Of Having More Than One Trading Account Is Only If You Are An Active F&O Trader Where You Might Have Long Position & Short Position In Another Trading Account If Either Of Your Positions Goes Against You.

4) I Do Not See Any Advantages Of Mutlipe Demat Account If You Have A Good Brokerage Firm That Doesn't Do Odd Things With Your Demat Holdings Without Your Knowledge.

Happy & Safe Investing

SavantGarde

 

[madhava36]

#8 Yesterday, 09:41 PM
SavantGarde
Member Join Date: Oct 2006
Location: Mumbai
Posts: 737



Re: About Opening Two Trading/Demat Account

--------------------------------------------------------------------------------

Some Points Of Multiple Trading & Demat Accounts.

1) Yes It Is Legal & Ok To Have Multiple Trading & Demat Accounts.
-------------------------------------------------------------------------------------Can I have Multiple Trading Accounts with one Broker only ?
Clarify please. Thanks.

madhava36

 

[drpsiva]

as for as i know you cant have multiple accounts with 1 broker in 1 place. at least geogit doesn't allow this.