Can we hold DP without a broker?

#1
Sirs,

I am having few shares in demat form in NSDL through Geojit. As the services of Geojit is not satisfactory I would like to close the trading account and would like to shift to some other broker. ie. I would like to discontinue the trading account with Geojit. and till I decide a new broker and transact, can I hold the shares in NSDL? If so, what is the procedure. To whom should I approach. Please seniors help me in this regard. Thank you in advance.
 

rvm123

Active Member
#3
Your Demat account is different from your trading account with broker. You can verify online, your holdings in your NSDL Demat account. If all the scrips are available in the account, you can close the trading account with your broker and go for new broker. With the new broker,, you can use the existing NSDL demat account itself.
 
#4
Hi,

D.p’s are linked with brokers. You can open a demat account with depository. There is no compulsion of trading account. So the right option is open a new demat account, transfer your shares to the new demat account, If you intend to shift your shares from an older Demat account to a newer one, there is a transfer charge per share involved.
Happy Investing!
 

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