gsam
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To my knowledge, one demat account will suffice.
But I am sure there will be many professional people such as CA's etc using Yahoo answers, who will give you a better answer. You could also go on the SEBI website or call them and find out. HDFC Demat section should also be able to provide you with the correct position in law. I wouldnt particularly trust ICICI. |
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k b
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nothing mandatory as such, such companies may have there own guidelines. |
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cali x
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my answer is iam ready to share with you |
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Dr.arun ch
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yes |
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Sukadev
 |
You can link a demat account with multiple trading accounts. Demat account - the account where shares are held in demateralized form is held with NSDL and authorized brokers have access to this account. Hence you need not have multiple demat accounts- rather Govt and SEBI is discouraging attempts to open multiple demat accounts. Hence they have introduced KYC norms after the recent IPO-scam. Trust this helps |
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Mukunda S
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No need to open two demat accounts.By a single a/c you can trade not only two, you can trade 100s of stocks.You can choose any broking center,and their you have to open an account.If you need another account in another broking center, their you must open a separate account.Pan card must for this. |
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dilipagr_2000
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usually to ease online payment/receipt/deliveries, the basic aspects of trading; it is convineint to open demat account with the broker u are operating as different brokers have different protocols of business. |
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Harinder S. Johal
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It is mandatory to open demat account in any bank, if you want to purchase shares, Only one account is required in any bank, You do not need different accounts,one account is enough |
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BOND_BOND2001
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Its not mandatory. But mostly big broker houses prefer that you have a demat account with them as it is more convenient for them as well as for you. Since you are going to trade through them it is a problem of transfering shares from another demat account to their account when you sell any share as also when you buy any share they have to issue delivery instruction documents to wherever you are holding a demat account. Whereas if have a demat account with the same broking house you are going to trade with all this is taken care of automatically. |
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arpita
 |
No it is not mandatory to have D'Mat account with every broker. But whenever you sell some shares in the D'mat a/c of one broker in the trading a/c of another broker, it is your responsibility to deliver 'delivery instruction slip' duly filled to the broker you had the D'mat account the same day of trading. To avoid all this work, brokers insist to have your d'mat a/c with them only. Then it will be easy for them to reduce the shares you sold and add the shares you purchase in your D'mat a/c. |
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john praveen k
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do u meen idirect facility and demat facility. if it is this then u need to have both the accounts with the same broker. |
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sheerin t
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yes, its mandatory to open a demat account with every broker.and u are not suppose to link each other as they serve the customer and expect the brokerage and comission from each customer. |
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paulchris07
 |
Hi
Yes, if you would like to do trading with different brokers, you need to open different demat accounts. Brokers make customers use their own demat account cause its easy for them and the customer to do transaction.
But if you talk about offline tradine, such as karvy, cholamadalam securites etc. you can use any other brokers demat account with these guys, only thing you have to do is every time you sell any stock, you have to submit delivery instruction to these guys. Linking of demat is broker depended and can be only used in offline tranding not in online trading.
In previous case, no need to submit delivery instruction as demat is with same broker.
i suggest you open trading account in geojit, which is having a very low brokerage and service is also pretty good.
I have an experience with icici, hdfc, kotak and belive me you will not get a good service.
Regards
Chris |
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virender s
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no |
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AseemT
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its not mandatory , but its a matter of convenience and ease of use..
if the demat account and online trading account is with different banks or broker, there are a few paperwork transaction that need to be completed inorder to receive payments or shares..as time is an expensive commotidy, suggest you hve separate accounts wt each broker/bank.. this would also be beneficial in getting allotments during ipo |
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