Why sbi demat is not good.

Hi,
In so many reviews/comments i read that plz do not open demat with sbi/motilal oswal. can any body tell me why (after reading my requirements).
My purpose to open a/c is to purchase shares /gold etf occasionally and for long term purposes. means i am not much interested in daily trading. I dont mind if it is slow in day hours.
Also is there any chance that they can cheat us...
also if i want to invest only maximum 5000 rs in shares but my saving a/c having 20000 rs, is there any chance to lost that money also.
Is it not user friendly as i am a novice in shares,but experienced in mutual funds
Other that the charges they have mention in website, is there any hidden charges also. (if you have a/c you must aware of that)

for share trading guidance contact me at yahoo ashiqueabrar @ yahoo .com

anybody else wants to give suggestions for sbi demat here

as per my experience SBI demat account is good its government bank and nobody can cheat you when you read proper instruction before opening demat in SBI account. I have also demat account in Indiabulls. So read the mannuals of opening demat account with SBI on the web.

Whether cheating is in demat or not, there are a lot of ways brokers can play foul. For instance, the broker may use your account to trade without your knowledge and make you bear the loss if any.

Brokers may not pass benefits of short delivery or auctions.

Brokers may purposely write good research reports about companies in return of kickbacks from the promoters or operators.

Your broker may purposely buy shares that are under distribution.

Basically, there are lot of grey shades in between Black and White. And no amount of black ink of white paper(read as "User Agreements") is going to stop them. You have to be vigilant with your money.

Is is possible? I mean if i am having user name password how can broker use my a/c? please clear. U mean to say like if you have sbi demat a/c, and broker can buy or sell share using your a/c?? Is it possible.

You are forgetting that your trading is "under" your broker, and not independent of it. The brokers can override your username/password through their systems and trade in your account. This is a reality, not mere "possibility". You can search google or even this forum where members are complaining of illegal trading done in their accounts.

Don't think that SEBI is God just because Business Standard article praises him as a "Tough administrator". We have laws, only to be studies in law colleges. All the big boys get away easily, unless they are cornered by some other big boy.

hey bunny,
Now i am afraid , then how others people are trading through de-mat. tomorrow i am planning to open demat with sbi. can anyone else tell me about what bunny is saying