Can I shift from HDFC Securities to Zerodha? (2024)

Can I switch from HDFC Securities to Zerodha?

If the securities are to be transferred to Zerodha without closing the existing account, follow the off-market transfer process. To initiate the process, obtain the Delivery Instruction Slip (DIS) from the existing broker, fill out the details of the Zerodha demat account as required and submit it to them.

HDFC Securities Vs Zerodha Brokerage

HDFC Securities brokerage charges for equity is 0.32% and intraday is 0.032% whereas Zerodha brokerage charges for equity is Rs 0 (Free) and intraday is Rs 20 per executed order or . 03% whichever is lower.

To do so, you must submit a Demat Request Form (DRF) provided by the Depository Participant. You need to submit the form with the relevant share certificates to the Depository Participant. The Depository Participant reviews and processes the request along with the share certificates.

This is a fairly simple task. If you already have the demat credits of all the shares bought by you, then the task is simple. If the existing DP and the new DP are under the same depository (NSDL or CDSL), then you can yourself initiate the transfer of shares to the new DP online after registering.

Does Zerodha have annual charges? Yes, Zerodha charge Rs 300 per year Demat Account AMC (Annual maintenance charges) fees. This fee is charged quarterly (i.e. Rs 75 every quarter).

Zerodha is among the largest discount brokers in India. It offers a wide range of products and provides free equity delivery. Zerodha is a great choice for beginner investors because of its easy-to-use trading platforms.

Yes, Zerodha is a legitimate stock brokerage firm in India. It is registered with SEBI, CDSL and all major stock exchanges in India. As with other popular brokers, Zerodha works under the regulations laid by SEBI and RBI.

Zerodha alternatives recommendations

Sharekhan is recommended for traders and investors focusing on the indian market. Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment.

National Securities Depository Limited (NSDL)

Can I transfer my securities from one demat account to another?

For transferring the shares online, you have two options. First is to do this via your demat account and the second is via the relevant depository's (CDSL/NSDL) website. While certain brokers may offer an online transfer option, the process may not be completely online due to safety reasons.

Yes. You can transfer your Demat holdings from one broker to another either manually or online. Are there any charges to transfer shares from one Demat account to another? The broker may apply some charges for a manual transfer.

Generally there are no tax penalties or fees associated with moving investment funds from one brokerage firm to another. Some brokerage firms charge a fee to close an account or for some other service in connection with the transfer.

Transfer charges of 0.03% of turnover or ₹25 per ISIN, whichever is higher + 18% GST is applicable.

You can add a maximum of Rs 1 Cr using internet banking(using the payment gateway) and Rs 2 Lakhs using UPI from Kite's Add Funds page in a single transaction. However, depending on the bank you use and the limit prescribed by them, this will differ for each account.

A Zerodha Trader has to file ITR based on the income they have from trading in equity, mutual funds, or derivatives. Zerodha provides a Tax P&L Report to all its traders aggregating the trading transactions done during the financial year.

₹1 lakh is the maximum limit per day for mandates through eNACH. To transfer more than ₹1 lakh in a single day, the transfer should be done manually. See How do I add money to my Zerodha account?

After the submission of the application form, another 7 to 10 days will be required for the account to be closed. You will not be charged a single penny for the closing of the Demat account in HDFC bank. You must keep in mind that before closing the account, you must not have any negative balance in the account.

They do not charge any account closing fee from their customers. All holders are required to sign the closure request form. POA holder (if any) cannot sign the closure request.

Can we close HDFC Securities account online?

Along with the Demat account, if you wish to close the trading account with HDFC then drop a mail to customercare@hdfcsec.com from your registered mail id with the reason for closure along with the User ID/ HSL Account Number.

Yes. Non-Resident Indians can trade in futures and options provided they have mapped a CP (Custodial Participant) to their NRO account. Zerodha has a partnership with Orbis Financials for custodial services.

There is no upper limit to the amount of money that can be withdrawn from the trading account. Withdrawal limit is subject to availability of withdrawable balance in the trading account. To learn more, see What is the withdrawable balance?

The 43-year-old CEO of the company, Nithin Kamath, credits the users who referred Zerodha to others behind the company's growing success. "A key reason behind the success of @zerodhaonline is that we were able to grow thanks to all the referrals from our users.

Few disadvantages of trading in options with Zerodha include Rs 50 per order Call & Trade charges, Rs 20 auto squared-off charges, and Rs 300 per year demat AMC charge. Note that a demat account is mandatory even if you are training only in options.

Brokers are intermediaries; they cannot operate your trading account without your consent. In addition, they cannot use funds from your account for their purposes. If a broker shuts down, you need to apply for compensation for your trading account with the Investor Protection Fund set up by SEBI.

Zerodha is extremely cautious, and security as a practice is baked into processes when writing code and managing infra. To ensure the safety of client data, some of the common-sense practices are as follows: Regular internal and external penetration testing and audits.

The competition in the online trading industry has also increased with many players offering similar services. Two major players in this industry are Zerodha and Upstox.

You can easily trade using the HDFC securities app in just a few clicks. The app offers online trading at BSE, NSE, and MCX exchanges. You can also invest in IPOs, Bonds, Mutuals Funds, Corporate Fixed Deposits through the app. The app is available for Android, iPhone, and iPad users.

Does HDFC use CDSL or NSDL?

Is HDFC securities NSDL or CDSL? HDFC securities are depository participants on both depositories NSDL and CDSL.

There are two major depositories in India : NSDL and CDSL. All the depository participants have to get registered to either one of them to ensure legal and regulated functionality. HDFC Securities is registered with both NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Ltd.)

An investor can open multiple Demat Accounts with different brokers with a valid PAN card. The Securities and Exchange Board of India (SEBI) does not levy any limitation on opening more than one Demat account in India.

You cannot open more than one Demat account with the same Depository Participant or DP or with the same broker. Each account you hold will attract separate charges for annual maintenance. Not using the Demat account will attract charges and might be frozen.

An in-kind or ACAT transfer allows you to transfer your investments between brokers as is, meaning you don't have to sell investments and transfer the cash proceeds — you can simply move your existing investments to the new broker.

if you wish to do tax harvesting, this might help. You sell stock from one broker and buy the same quantity in the other. Currently you cannot buy and sell on the same day from one account. You need to wait for one full day.

In general, you'll need to pay Capital Gains Tax when you sell (or give away for free) an asset such as shares. The amount of tax depends on factors such as your income, the amount of capital gains that you made from the transfer of shares during a tax year, etc.

While the general rule is that wire transfers over $10,000 must be reported to the IRS, there are some exceptions to this requirement. These include: Transactions that are conducted by financial institutions on behalf of the US government. Transactions that are conducted between financial institutions.

What happens when you transfer brokers?

Once the transfer request is validated, the delivering firm will send a list of the assets in the account to the receiving firm via ACATS. The receiving firm will review the list of assets to decide whether it wishes to accept the transfer of the account.

One of the unknown facts about RK Damani is that he was the mentor of the most popular Indian share market investor, Rakesh Jhunjhunwala. Radhakrishnan Damani is the richest trader in India, with a portfolio valued at 16 stocks with a net worth of over Rs 2,04,188.62 crores as of September 2022 .

Often referred to as the 'Big Bull', Rakesh Jhunjhunwala was one of the most popular and successful investors in the Indian stock market. Before entering the financial markets, Rakesh Jhunjhunwala qualified as a Chartered Accountant.

Off-market transfer

To initiate the process, obtain the Delivery Instruction Slip (DIS) from the existing broker, fill out the details of the Zerodha demat account as required and submit it to them. If the existing broker's depository is NSDL, use inter-depository slips, if it is CDSL use intra-depository slips.

Fortunately, transaction fees are easily avoided by selecting a broker that offers a list of no-transaction-fee mutual funds — most do. Many funds on this list will be from the broker itself, but other mutual fund companies often pay brokers to offer their funds to customers without a transaction cost.

Zerodha Broking Limited, the Depository Participant (DP), is a CDSL (Depository) member.

Yes, a trading and demat account can be opened with Zerodha even if there are accounts with other brokers with the same PAN that may or may not be active. The PAN enables Indian regulatory authorities to identify the investments linked to their owners, irrespective of the number of demat accounts they own.

Yes, it is possible to transfer stocks and other investments from one brokerage account to another. There are many reasons that you might want to do this. For example, you might have started a new job that uses a different company for its retirement accounts.

In the Indian setting, though, things are a lot more complicated. For example, you can move your demat account from one DP to another, but you can't move your open F&O positions from one broker to another. In such circ*mstances, you'll need to close down positions with one broker before moving on to the next.

Which depository is used by HDFC securities?

National Securities Depository Limited (NSDL)

Non-Resident Indian (NRI) Zerodha accounts can only be opened offline, unlike resident individual accounts that can be opened online. The documents required to open a Zerodha account as an NRI varies based on the type of NRI account.

Any one of the following documents can be submitted as income proof: Bank statement with the bank logo and seal in the name of the Zerodha account holder for the last 6 months with an average balance of more than ₹10,000. Latest salary slip with gross monthly income exceeding ₹15,000.

Myth 1: Brokerage transfers require you to pay taxes.

But if you liquidate the assets you hold at your current brokerage and transfer the money as cash, you may have to pay capital gains taxes on the sale of any securities in a taxable account (like an individual or joint trust account).

All brokerage account transfers start and end with your new firm. Customers initiate the transfer process by completing a Transfer Instruction Form (TIF) and sending it to the new firm. Most account transfer delays occur because the TIF is either incorrect or incomplete.

If you have a brokerage account, this isn't too difficult. You simply sell all of your securities and then move the cash to the new brokerage. You may not even need help, since you can withdraw the cash. Then you can invest the money how you choose at your new broker.