1) My wife has idbi paisabuilder 3 in 1 account can she open a trading account with the above mentioned DP account?
2) Is idbi bank account enough for fund transactions or should I open account in any other bank for easy transactions?
3) Payout instantly or next day?
4) Margin money for nifty and minifty how much?
1. Yes you can, delivery based (equity) trading cannot be done.. You can trade intraday(equity), take positional and intraday(f&o), buy delivery(equity) but you can't sell delivery shares that are sitting in your IDBI dp..
2. IDBI is good enough, fund transfers are done using NEFT or RTGS.. If you have accounts with HDFC or AXIS, there is an instant payment gateway, funds reflect immediately in your trading account... With IDBI, it takes around 3 to 5 hrs..
3. We process all payouts at 6pm everyday, the payout happens same night or first thing next day morning.. .With HDFC, the payouts happen before 7pm...
4. Intraday futures margin required are : 50% of SPAN margin.. So nifty you can trade with 11k and mini with around 5k for intraday.. If you want to hold overnight, you need to bring in total margins, for nifty around 30k and for mininifty around 13.5k