Demat Account...

vipu

Member
Hi

I want to open a demat account. Please suggest me good securities company for that.

I have account with Citi bank, that would be great if they can link with the same as well.
 

Yogesh Sarkar

Administrator
Are you only planning to open a demat account or also a trading account and in particular, online trading account to trade shares online?

Most banking companies (including Citi) provide demat as well as trading accounts, however charges can be quite high if you are planning to trade regularly and this is where dedicated brokers like Zerodha, RKSV, Sharekhan etc. come in and provide better rates.

As far as linking your existing account to demat account goes, it really is non-issue, since you can easily transfer funds online to your trading account in case of most brokers.
 

vipu

Member
Yes... I will start trading and Low brokerage and better service is what I am looking for.

Timely transfer of fund as I have seen with Indiabulls,(Coz was working there) they debit your account at the same time. But crediting account back is a Pain as it was used to took almost 3-4 days. While some other do the same in 24 working hour on market days.
 

faustus77

Active Member
Vipu
Hi
I am surprised about the credit within 24 hours.
If you sell on Monday the payout is wednesday provided there is no bank holiday or saturday.
It could be that they credit your account but but you cant withdraw maybe as cheques presented for clearing and you have to wait for 2 days.
Citibank is expensive.
Rgds

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YS
Hi
Within what time frame do you transfer funds when You buy?
How do they enforce your commitment?
Rgds
 

Yogesh Sarkar

Administrator
Have a look at Zerodha and in case you are planning to trade in large volums, then RKSV has a fixed brokerage plan, along with a few others. Of course that is if you are planning to do your own research,

With Zerodha, whatever money you are planning to trade with, needs to be first transferred into your trading account, which takes just a few minutes in case of online transfer and few hours in case of ECS.

Haven't yet withdrawn any amount so cant comment.

As far as settling goes, in case of debits, it happens in real time and in case of credit, it takes T+2 days, which I believe is normal. Of course if you are buying and selling in the same session, then you have access to funds rightaway i.e. 500 in account + 300 worth of shares sold = 800 trade limit.

Sir are you talking about laverage?
 

faustus77

Active Member
YS
Hi.
you clarified that you transfer the amount to you broker viz Zerodha and then they buy.So they are covered.You couldnt be calculating the exact amount and so you would be transferring an approximate figure.
.When I buy from my broker they buy and next day they collect the cheque.
With HDFC the block my account with the amount which they debit after a day or two.
Regards
 

Yogesh Sarkar

Administrator
I have been transferring certain amount of money each month into my trading account (kind of like SIP) and I buy out of that pool. Yes, I do lose out on the interest, especially at times like this, when I have sold out significant part of my holdings. However, I can’t really expect a budget broker to charge me later, while I keep on buying, because it increases their risk and increased risk means more charges.
 

faustus77

Active Member
YS
Hi
It is a good deal as long as your money is safe.Getting interest onsavings account is less than peanuts so dont even count it.
My 2 brokers charge everybody the same %age.As i have been dealing with them for years(20 years with one and 8 with the other) they do not keep some shares as security.Any new customer has to keep some shares with them but in his(customers) name.When he wants to close the account the shares are returned.
Rgds
 

veerbansal242

New Member
I created a new demat account with mastertrust, earlier i have with HDFC. HDFC charges are quite high as compare to mastertrust broking charges !!
 
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