Never ever put all your eggs to one broker

[akhill]

Sir, this is an amazing post and clearly gave the complete outlook on the necessity of having more than one account. As I am planning to go full time trader and doing the research, I came across your thread. Your posts have always been enlightening and this I would say is completely different and among the best.

 

[Gecko]

I believe that putting the eggs to the broker is not a good idea in any case.))

But in general, I agree that it is better to have several accounts with different brokers. The only thing is that you have to be able to manage all of them.

 

[desiwarrenbuffet]

I was not knowing that I can have two a/c.I have my a/c with sharekhan,now i will open my another a/c with discount broker.I would like to know if i can have only 1 dmat a/c and bank a/c for 1 broker or separate a/c for both brokers.

 

[SKU]

I was not knowing that I can have two a/c.I have my a/c with sharekhan,now i will open my another a/c with discount broker.I would like to know if i can have only 1 dmat a/c and bank a/c for 1 broker or separate a/c for both brokers.

You can you use same dmat account & same bank account for opening account with as many broker you want. No separate dmat or bank a/c required.

 

[sanjeev258380]

You can try brokers like..HDFC securities..or ICICI securities..or angel...as per my knowledge..because.. this HDFC & ICICI.. are banks...or one sme brokers of PNB...
Because the .. this bank security having much turnover... cant be default easily.. I know this banks require high brokerage.. But if you trade in profit..then brokerage is not much..
Hope for best in India.

 

[trader15]

http://www.nseindia.com/content/circulars/insp11532.htm : See under banking and demat account section. NSE Compliance clearly mandates no broker should be storing client transferred funds (This is compliance circular, so not a tutorial language)

Investor Protection Fund: (Provides limit per investor/per defaultor broker to 15 Lakhs): http://www.nseindia.com/invest/content/defaulters_committee.htm