(Last Updated: April 8, 2019)
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Can I have two Demat accounts in India? 2 or multiple accounts

  • I already have one demat account with a stock broker. Is it possible to open another demat and trading account with a different broker? I mean, can I open two demat accounts or may be more, say multiple accounts with different brokers in India?

    Is there any limitation on the number of demat accounts that a person can open?

    If anyone can guide on the same, it would be great!

  • @Anmol I think there isn't any issue in having 2 demat accounts. You can have more than 1 demat account. It's upto you how you manage them.

    But, I personally feel having only 1 demat account is perfectly fine. Since it saves cost and you can manage well. Why to pay extra account opening and maintenance fees to different brokers? Right!

  • A trader can keep as many demat accounts as he wants with different brokers. Amongst which one is always primary and others are secondary accounts. I agree with @manav that why add to the cost by opening another account with AMC and account opening charges. However, if you still want two different demat accounts, you can keep one with your current/favourite broker and can open one with Finvasia. These guys don't charge any demat account opening or amc charges. they work on the zero brokerage model so all trading and account openings including AMC is zero with them for lifetime. Anyways, it's my personal opinion. Hope it answers your question.

  • @UniQueme Thanks for the suggestion. I would definitely consider your points. I was looking forward to a newer better option only. That's why interested in opening a new Demat account.

  • @UniQueme I agree that you can have multiple accounts. But, what's the need to have 2 demat accounts? Just have a single demat account with a good popular broker. That's it!

    Why do you need to maintain 2 demat and trading accounts? When you can hold all your securities, mutual funds at one place, there seems no need to bear charges for two or more of them. These days, there are brokers offering a 3-in-1 demat and trading and saving account also. That's all the more convenient. What say? Agree to it.

  • @Anmol Why are you asking to open 2 demat accounts at first? I mean is there any specific reason to do so. It's possible to manage our investment and trading activity at one place. So, why to get into the hassle of 2 accounts.

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