Axis bank trading account brokerage charges
So to open an account with a new brokerage you will have to first close the currently open accounts. Do verify it as this as it is just my information which I am sharing in good faith.
No transfer is possible. It is possible to set up a sell from one account and a buy in another account only in NRO PINS wherein no one else can pick the stocks so you are not affected by the volatility.
This depends on the value of the portfolio though if this support is expected from the broker. I have NRI account with zerodha had tueup with axis bank and also with Hdfc…low brokerage n good experience.
Thanks for all your inputs. As per your query i will sugest est to go Induaind bank they charges to low comapre to other bank also we introduce you brokrage house which the tie up with them they have the br. How did you get Yes Bank information.
If its OK with you please give me the contact details from where you get the Yes Bank information. It depends on your residency status when you had your first account. Based on the securities, cost of acquisition and date of acquisition mentioned in the certificate, ICICI Bank will create record of your portfolio in its books.
Such permission or approval is referred as previous approval document. Yes, you need to have fresh approvals, as the earlier approvals will no longer be valid. Converting physical records of investments into electronic records is called "dematerialising" of securities. In order to dematerialise physical securities, investors must fill in a Demat Request Form DRF , which is available with the DP and submit the same along with physical certificates.
A comparison of the fees charged by different DPs is detailed below. There are a few distinct advantages of having a bank as a DP.
Having a Demat account with a bank DP, usually provides quick processing, accessibility, convenience, and online transaction capability to the investor. Generally, banks credit the Demat account with shares in case of purchase, or credit a savings account with the proceeds of a sale, on the third day. Banks are also advantageous because of the number of branches they have. Some banks give the option of opening a demat account in any branch, while others restrict themselves to a select set of branches.
Some private banks also provide online access to the demat account. Hence, the investors can conveniently check online details of their holdings, transactions and status of requests through their bank's net-banking facility. A broker who acts as a DP may not be able to provide these services. There are four major charges usually levied on a demat account: Charges for all fees vary from DP to DP. Depending on or may not be an opening account fee. However, players such as Elite Wealth advisors Ltd.
But in Ventura Securities ltd, Angel Broking  and some other companies do not have an any opening charge. State Bank of India does not charge any account opening charge while other maintenance and transaction charges apply. Most players levy this when re-opening a demat account. The fee is also refundable.
This is also known as folio maintenance charges, and is generally levied in advance. It is charged on annual or monthly basis. The fee also differs based on the kind of transaction buying or selling. Some DPs charge only for debiting the securities, while others charge for both.
In addition, service tax is also charged by the DPs. In addition to the other fees, the DP also charges a fee for converting the shares from the physical to the electronic form or vice versa.
This fee varies for both demat physical-to-electronic and remat electronic-to-physical requests. For demat transactions, some DPs charge a flat fee per request in addition to the variable fee per certificate, while others charge only the variable fee. For instance, Stock Holding Corporation has charged Rs 25 as the request fee and Rs 3 per certificate as the variable fee. However, SBI has charged only the variable fee, as Rs 3 per certificate. Remat requests also have charges akin to that of demat.
However, variable charges for remat are generally higher than demat. Some of the additional features usually offered by banks are as follows. Some DPs offer a frequent-trader account, where they charge frequent traders at lower rates than the standard charges.
Demat account holders are generally required to pay the DP an advance fee for each account that will be adjusted against the various service charges. The account holder needs to raise the balance when it falls below a certain amount prescribed by the DP. However, if the holders also hold a savings account with the DP, they can provide a debit authorisation to the DP for paying this charge. Finally, once choosing a DP, it would be prudent to keep all accounts with that DP, so that tracking of capital gains liability is easier.
This is because when calculating capital gains tax , the period of holding will be determined by the DP, and different DPs follow different methods. The proof of the cost of acquisition will be the contract note. The computation of capital gains is done account-wise. All applicants should carry original documents for verification by an authorized official of the depository participant, under his signature. Further, the investor has to sign an agreement with the DP in a depository prescribed standard format, which details rights and duties of investor and DP.
DP should provide the investor with a copy of the agreement and schedule of charges for their future reference. The DP may revise the charges by giving 30 days notice in advance. SEBI has rationalised the cost structure for dematerialisation by removing account-opening charges, transaction charges for credit of securities, and custody charges vide circular dated January 28,