Brokers providing same funds account for commodity and equite

[gc1133]

Hi,
Can you help me out with the brokers providing the facility of same funds account for equity and commodity? Sometimes I want to switch trading b/w equities and commodities and have to struggle allocating and rotating funds from equity to bank account and then to commodities account or vice versa.

 

[UberMachine]

This is not possible. Regulations stipulate that you need to have separate accounts.
May be some bank (as a broker) may provide for transfer from equity to commodity on specific instruction. Not sure about anybody offering it.

 

[mbhardwaj82]

@Finvasia is the only discount broker in India offering this service.. I think Anand Rathi also does. may be more.

 

[gc1133]

Just talked to @Finvasia customer care executive, he has confirmed that they provide this facility. Out of curiosity, if this is not approved by SEBI then how come brokers are providing this facility. Will it be safe to open account with them in this case? Double minded right now.

 

[UberMachine]

Just talked to @Finvasia customer care executive, he has confirmed that they provide this facility. Out of curiosity, if this is not approved by SEBI then how come brokers are providing this facility. Will it be safe to open account with them in this case? Double minded right now.

@gc1133
Brokers must keep separate funds for these accounts. You can't have a common pool for it. In fact, brokers use different entities for stock trading and commodities (they would have different names though under the same banner)

In fact, you can have a single trading account according to the latest SEBI regulations (I missed it since many common brokers dont' have it).
The entity should be in a single name so that you can trade in any exchange and you can have a common ledger and contract note.
The above brokers must be running both the business in a single name.

 

[Ram23]

When I asked this kind of facility about 3 years before, Zerodha executive said it can't be done, because it is illegal. I have account in Zerodha all segments, but in finvasia only NSE.

 

[newtrader101]

TradeJini also offers this facility, in fact they are the first who offered this facility

Tradejini does offer this, but their software needs a lot of improvement. For proper charts etc you'd need Zerodha or Sharekhan or a chart provider. Another feature that TradeJini alone seems to have is BO for Commodities as well. But how frustrated you will be when you are logged off every half hour and are unable to save the watchlist (on mobile application).

Anybody tried AnandRathi?
Trade easy also claims the same (single funding) facility, but I suspect the situation could be the same there, as Tradejini.

 

[CougarTrader]

Anybody tried AnandRathi?

Haven't tried them but reading these articles repels strongly from using them.
SEBI ban on Anand Rathi in 2001
SEBI's fine on Anand Rathi in 2018

 

[newtrader101]

Haven't tried them but reading these articles repels strongly from using them.
SEBI ban on Anand Rathi in 2001
SEBI's fine on Anand Rathi in 2018

 

[gc1133]

Tradejini does offer this, but their software needs a lot of improvement. For proper charts etc you'd need Zerodha or S harekhan or a chart provider. Another feature that TradeJini alone seems to have is BO for Commodities as well. But how frustrated you will be when you are logged off every half hour and are unable to save the watchlist (on mobile application).

Anybody tried AnandRathi?
Trade easy also claims the same (single funding) facility, but I suspect the situation could be the same there, as Tradejini.

I have account with Zerodha to use charting if it's a problem with Tradejini. Any idea if Tradejini provides better margin leverage for intraday trades as compared with Zerodha? Even if it provides similar margin as that of Zerodha then I would be happy with that and opening account with Tradejini will solve my need.