Hello experts,
At the outset let me thank you all for the presence of this excellent and helpful community. I have gained a lot over the last few months because of the selfless advice provided here.
I must say though that there seems to be a number of affiliates ( of brokers etc) who are skewing the answers towards marketing pitches and less towards information. But I guess that comes with the game.
You may find my query somewhat interesting:
I have opened three online brokerage accounts, ICICI Direct, Sharekhan, and Reliance Money.
With each of these brokerage accounts, I have created a different demat account.
1. If I add my demat account created by ICICI Direct into Reliance Money, can I trade in this account using my Reliance Money brokerage account? Can I use any broker to operate any demat account? Will the shares brought using one brokerage be visible and sellable using another broker? This way, I can buy using ICICI Direct or Sharekhan (making use of the facilities in their website) and sell using Reliance Money ( making use of their low brokerage).
2. In case the answer to the above is true, should I cancel all my demat accounts except one and operate this one with any of the brokers?
3. In case the ability to add demat accounts isn't there in Reliance Money, can I delete the primary demat account ( created by my Reliance Money application) and make my ICICI Direct demat account the primary account in Reliance Money. Then will the shares held in this demat account be visible from both broker sites?
The same queries apply to Sharekhan instead of Reliance Money too. I would like to be able to sell shares bought using ICICI Direct using my Sharekhan account too if possible.
Thanking you in anticipation for your reply.
At the outset let me thank you all for the presence of this excellent and helpful community. I have gained a lot over the last few months because of the selfless advice provided here.
I must say though that there seems to be a number of affiliates ( of brokers etc) who are skewing the answers towards marketing pitches and less towards information. But I guess that comes with the game.
You may find my query somewhat interesting:
I have opened three online brokerage accounts, ICICI Direct, Sharekhan, and Reliance Money.
With each of these brokerage accounts, I have created a different demat account.
1. If I add my demat account created by ICICI Direct into Reliance Money, can I trade in this account using my Reliance Money brokerage account? Can I use any broker to operate any demat account? Will the shares brought using one brokerage be visible and sellable using another broker? This way, I can buy using ICICI Direct or Sharekhan (making use of the facilities in their website) and sell using Reliance Money ( making use of their low brokerage).
2. In case the answer to the above is true, should I cancel all my demat accounts except one and operate this one with any of the brokers?
3. In case the ability to add demat accounts isn't there in Reliance Money, can I delete the primary demat account ( created by my Reliance Money application) and make my ICICI Direct demat account the primary account in Reliance Money. Then will the shares held in this demat account be visible from both broker sites?
The same queries apply to Sharekhan instead of Reliance Money too. I would like to be able to sell shares bought using ICICI Direct using my Sharekhan account too if possible.
Thanking you in anticipation for your reply.