what is a dp

hi everyone,
i just joined the forums .. also i am a newbie in trading ..
so i was just looking for some general info abt trading .. actually i have some doubts in my mind (some questions may be strange too since iam new here)

1. i searced several sites like hdfc , icici, indiabulls.. and by seeing the demos availbale on their sites .. i personally feel that indiabulls may be having some better services than other 2 ..is iam right ? also i need to know whether indiabulls too offers 3 in 1 accounts like the hdfc..

2. what is an dp ? is we just have to open 3 in 1 account with a bank(hdfc) and the rest of the matter of selling and buying stocks online will be taken care by them or else we have to arrange our own broker ? .. also who /what is a dp ?

thanks in advance..

DP stands for Depositoy Participant.. In laymans term - it is the DMAT account where stocks will be held. For smooth online trading you need 3 types of accts -1) Bank acct to hold yr cash, 2) DMAT acct to hold stocks and 3) Trading acct to take your order and communicate with NSE/BSE machin to trading.
HDFC,ICICI, KOTAK, SBI can offer all 3 type of accts under their name. Advanatage is that u can transfer funds immediately by click of buttons. Disadvantage - brokerage fee is bit high.
Indiabulls being a brokerage house can't offer u bank acct. They can offer u other 2 accts. But you can connect yr bank account held other banks with Indiabulls trading acct. Disadv - your cash transfer might have a delay of 2 to 3 days. Advantage - u can get better brokerage.

So do your investigation and decide. Don't think too much. If you are not happy, nobody stops you from closing the acct at anytime.
If you are new, then check if they offer some type of free investor education. Don't risk your money without knowing the rules of the game.

Happy Trading.