Could somebody please help me regarding accounts?

#1
Hello all,

I have decided to take up trading. I am still a student. Although I will be learning a lot along the way, I have a few questions before starting out. I'm a beginner, so please bear with me.

I am aware I need a SB account, Demat account and a trading account.

Regarding my Savings Bank account :-
Like I said, I'm still a student. So I'd like facilities such as low minimum balance, etc.I am aware of the "3-in-1" facilities offered by a few banks. What I want to know is that they are really worth it? SBI today told me they have stopped with their 3-in-1 services. Would it really be advisable to have a 3-in-1 account? If so, I really am not interested in nationalized banks. Will private banks really pose a threat regarding security and guarantees? What would you all suggest?

Regarding my Demat account :-
Charges for opening and maintaining a Demat account stand at 600 and about 400 on an average, respectively. I know my Demat account will be linked to my bank account. Assuming my Demat account is with a different DP and SB account is with a different bank, am I in for a lot of hassle regarding transfer of funds? Also, I don't understand when some people on the internet say some DPs don't allow internet viewing.What is this?

Regarding my trading account :-
Do all DPs or banks have good trading applets/platforms? Whose trading platform do you all suggest I pick ? Should I also most likely have my Demat account with them? For example, Sharekhan, maybe. The brokerage costs are a concern too.

My apologies for the size of the question, but I'd really appreciate an informative answer. Thank you!
 

Mr.G

Well-Known Member
#2
Savings bank account should be SBI for sure as they have zero balance scheme.

Now Trading and demat can be opened with same broker. Choose a normal broker to start with, then go to discount broker. As normal broker can teach you how to trade aswell.

For fund transfer NEFT is hassle less and is not problem.

You will have to negotiate with the broker, you are still a kid so your father can do this for you. You also need a PAN card btw for opening accounts.
 

DSM

Well-Known Member
#3
Banks will kill your trades with their brokerage. Check brokerage schemes available with different brokers. This is important - if trading, and even if not and you are an investor, a discount broker will charge you maybe 1/10th brokerage as compared to a bank, so investigate this aspect.

Second, besides demnat account and stuff, check the trading platform. Especially if you are looking at charts.

Good luck.

Hello all,

I have decided to take up trading. I am still a student. Although I will be learning a lot along the way, I have a few questions before starting out. I'm a beginner, so please bear with me.

I am aware I need a SB account, Demat account and a trading account.

Regarding my Savings Bank account :-
Like I said, I'm still a student. So I'd like facilities such as low minimum balance, etc.I am aware of the "3-in-1" facilities offered by a few banks. What I want to know is that they are really worth it? SBI today told me they have stopped with their 3-in-1 services. Would it really be advisable to have a 3-in-1 account? If so, I really am not interested in nationalized banks. Will private banks really pose a threat regarding security and guarantees? What would you all suggest?

Regarding my Demat account :-
Charges for opening and maintaining a Demat account stand at 600 and about 400 on an average, respectively. I know my Demat account will be linked to my bank account. Assuming my Demat account is with a different DP and SB account is with a different bank, am I in for a lot of hassle regarding transfer of funds? Also, I don't understand when some people on the internet say some DPs don't allow internet viewing.What is this?

Regarding my trading account :-
Do all DPs or banks have good trading applets/platforms? Whose trading platform do you all suggest I pick ? Should I also most likely have my Demat account with them? For example, Sharekhan, maybe. The brokerage costs are a concern too.

My apologies for the size of the question, but I'd really appreciate an informative answer. Thank you!
 
#4
MR.G,
Thank you for your answer. You say I should negotiate with a broker. You mean individual persons or firms as a whole? Could you give me a little more detail?

Thank you very much!
 

Mr.G

Well-Known Member
#5
You have negotiate with the representative of the firm. Legendary boarder savant garde has a post for this, glad find it and you will enlightenment.
 

trade4putuval

Well-Known Member
#6

Check dream plan of rksv if you do not trade quite often(noticed that you will begin trading). One you become full time trader, you can switch to freedom plan. Www.rksv.in

 

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