The Depository participants (DPs) like Karvy, Motilal Oswal, Angel, ICICI Bank etc are the depository participants who hold and administer these shares in custody on behalf of the NSDL or the CDSL. Hence, for all practical purposes you do not worry about the safety of your shares held with your DP.
Do not share them with anyone, including your DP. Ensure that your e-mail address and mobile number are updated with the Depository Participant (DP) regularly. Register for SMS and e-mail updates on your Demat account and keep an eye on alerts.
Potential for demat account frauds is low today but investors need to remain vigilant as unscrupulous brokers intent on cheating do find ways to subvert the system. ... Potential for frauds is low today, particularly after Sebi standardised the norms for drafting Power of Attorney (PoA) agreements.
Yes. In case you have multiple demat accounts with one or more DPs and do not wish to continue with them, you may submit account closure form to your DP(s) in prescribed format. In the form, you are required to mention DP ID, DP name and Client ID of the account where you wish the balances to be transferred.
Yes. If you authorize any person to operate your account by executing a power of attorney, that person can operate the account on your behalf. However, you need to submit a Notarised copy of the POA to your DP. Ensure that the POA has the signatures of both, the Donor and the Donee.
So you can only transfer shares by paperwork. And the money from you demat account will will be operated only and only with 1 bank account only !! So technically 0 chances of hacking .
Yes, Zerodha is as safe as any other stock broker in India. Zerodha is a genuine and trusted stock broker. They are among the lowest risk broker for the following reasons: Zerodha is a debt-free.
Answer: Zerodha and Upstox are the most popular, trusted, and reliable Demat accounts in India. Others include Angel Broking Demat Account, Sharekhan, 5Paisa, and Motilal Oswal.
Check SMS sent by depository after every transaction in demat account. Once a month Depositories i.e. CDSL and NSDL send a Consolidated Account Statement (CAS) on your registered email id. Please make sure to check the same. Never keep signed delivery instruction slip (DIS) with the broker.
"In the case of long-term investors, securities keep lying in their demat accounts for years. The risk of securities being misused is actually higher than that of funds," says Singhania. ... Suppose that you have transferred money to your trading account but did not use it to buy securities.
If you have been trading in the share market , you must have come across the term 'depository participant' (DP). You may know that it is mandatory for all investors in the stock markets to have a demat account. Your how to open a demat account is operated by the DP.
DP charges are the revenue source for depositories and its participants. DP charges are a flat transaction fee, irrespective of the quantity sold. Hence, the fee charged is per scrip and not the volume sold. So, these charges remain the same whether you sell 1 share or 100 shares.
1 Costs associated with a Demat account
One of the main disadvantages of a Demat account is the cost associated with opening and operating a Demat account. Demat account costs include account opening charges, transaction charges, custodian charges and annual maintenance charges.
This uncertainty on your broker is an unnecessary risk. Zerodha is a 100% fraud company and one should be very careful while dealing with this bunch of fools.
The Client acknowledges that they are fully aware of and understand the risks associated with availing of online trading services through internet including the risk of misuse and unauthorised use of their Username and/or Password by a third party and the risk of a person hacking into the Client's account on Zerodha's ...
No, the discount broker maintains full security for clients to prevent the account not to be hacked by unauthorized persons.