Finvasia

Thanks Finvasia
Then in both options (POA or Easiest method) shares will be automatically transferred to your account. Incase I do not choose any of these options, then I have to send a signed DIS (a risky way) everytime I sell a share
BTW, what are POA charges. Please let me know. Thanks
 

Finvasia

Well-Known Member
@Finvasia
Kindly clarify demat debit charges in following 2 conditions:

(1) I sell shares lying in pool account.

(2) Sell shares by transferring shares by Easiest facility from my demat account to your pool account.

I understand demat debit charges are not levied if shares in pool account are sold. (kindly clarify)

Hi Biker

Firstly, we would like to explain the process

There are three accounts
1. Broker Pool account
2. Broker Beneficiary Account
3. Client Beneficiary Account

As a process, exchange shall drop all shares in Broker Pool account. Based on client standing instruction, the shares are either transferred directly from Broker Pool Account to Client Beni Account or Broker Beni account. There are no charges for transferring stocks from Broker Pool Account. Once shares have been transferred to any Beni account (Broker or Client), any further transfer has a cost. Now, let's discuss your query.

(1) I sell shares lying in pool account.

If shares are sold from Broker Beni Account, there shall be debit charges for transfer to Broker Pool Account, in case of sell. Similarly, debit charges for selling and transferring from Client Beni A/c to Broker Pool account.

(2) Sell shares by transferring shares by Easiest facility from my demat account to your pool account.

In case of POA or Easiest, the shares have moved from Client Beni Account to either Broker Beni account for additional margin or Broker Pool Account to settle sold shares, there shall be debit charges.

Hope this explain. Please reach us for any further clarifications. Thanks
 

kingkrunal

Well-Known Member
Hi Biker

Firstly, we would like to explain the process

There are three accounts
1. Broker Pool account
2. Broker Beneficiary Account
3. Client Beneficiary Account

As a process, exchange shall drop all shares in Broker Pool account. Based on client standing instruction, the shares are either transferred directly from Broker Pool Account to Client Beni Account or Broker Beni account. There are no charges for transferring stocks from Broker Pool Account. Once shares have been transferred to any Beni account (Broker or Client), any further transfer has a cost. Now, let's discuss your query.

(1) I sell shares lying in pool account.

If shares are sold from Broker Beni Account, there shall be debit charges for transfer to Broker Pool Account, in case of sell. Similarly, debit charges for selling and transferring from Client Beni A/c to Broker Pool account.

(2) Sell shares by transferring shares by Easiest facility from my demat account to your pool account.

In case of POA or Easiest, the shares have moved from Client Beni Account to either Broker Beni account for additional margin or Broker Pool Account to settle sold shares, there shall be debit charges.

Hope this explain. Please reach us for any further clarifications. Thanks
So any updates on scalepert mobile app? Are you planning on doing anything for it ?
 

Biker

Active Member
Hi Biker

Firstly, we would like to explain the process

There are three accounts
1. Broker Pool account
2. Broker Beneficiary Account
3. Client Beneficiary Account

As a process, exchange shall drop all shares in Broker Pool account. Based on client standing instruction, the shares are either transferred directly from Broker Pool Account to Client Beni Account or Broker Beni account. There are no charges for transferring stocks from Broker Pool Account. Once shares have been transferred to any Beni account (Broker or Client), any further transfer has a cost. Now, let's discuss your query.

(1) I sell shares lying in pool account.

If shares are sold from Broker Beni Account, there shall be debit charges for transfer to Broker Pool Account, in case of sell. Similarly, debit charges for selling and transferring from Client Beni A/c to Broker Pool account.

(2) Sell shares by transferring shares by Easiest facility from my demat account to your pool account.

In case of POA or Easiest, the shares have moved from Client Beni Account to either Broker Beni account for additional margin or Broker Pool Account to settle sold shares, there shall be debit charges.

Hope this explain. Please reach us for any further clarifications. Thanks
Thank you for sucha detailed explanation. I am short term trader and hence demat debit charges are important to me.

However, just a small query:

(1) Can we not keep shares just in broker pool a/c instead of transferring them to beneficiary accounts? If shares are directly sold from pool a/c than it will not attract any demat debit charges... no? Correct me if I am wrong.

(2) So while transferring shares through Easiest, it would be prudent that shares are directly transferred to broker pool a/c rather than broker bene a/c? (assuming no margin is required as the shares are anyways to be sold)
 

Finvasia

Well-Known Member
Thank you for sucha detailed explanation. I am short term trader and hence demat debit charges are important to me.

However, just a small query:
Hi Biker,

Please refer to the replies below

(1) Can we not keep shares just in broker pool a/c instead of transferring them to beneficiary accounts? If shares are directly sold from pool a/c than it will not attract any demat debit charges... no? Correct me if I am wrong.
As per regulations, we have to daily move all shares from Broker Pool account to respective Beni account (Broker or Client) before EOD.


(2) So while transferring shares through Easiest, it would be prudent that shares are directly transferred to broker pool a/c rather than broker bene a/c? (assuming no margin is required as the shares are anyways to be sold)
Yes, you can move your shares from Client Beni account to Broker Pool account directly.

Thanks
 

Finvasia

Well-Known Member
Did you guys provide NSE NOW platform and if yes, do you charge for it?
Hi Mavala, Yes, NOW is available as a trading application. There is zero fee for using NSE since the same is not charged by NOW. In case, you wish to trade BSE as well, there is Rs 150 per month fee. Thanks