what happens when i terminate a broker?

#1
hi guys,
iam been a silent reader of this forum for quite some time and not to mention the wealth of knowledge i gained. the credit goes to all the wonderful guys here.
and atlast i have decided to test the water by signing up with the demat account with just trade. i have selected the just trade lite silver for quarterly member ship of Rs 1167 with Rs.30000 free brokearage.

My question is, is my decision wise enuf? and what will happen to all my stocks if i decide to terminate the online broker, do i need find a replacement before i terminate the existing one so that i can transfer my account to the new one?

thanks guys in advance
 

vasa1

Active Member
#2
Are you from the Mafia? Your broker is going to be terrified that you are planning on terminating him :)
You mean terminate with "extreme prejudice": maybe CIA-speak :D

I think you have to open your new account (broker & demat) first. Then, if I remember correctly, you can transfer all your holding from the old demat a/c to the new one for free since you will be closing the old one.

I assume in both the old and new cases, your brokers have tie-ups with different DPs.
 

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