I have trading account with zerodha & Fyers. I am mostly doing day trading. I have demat account with IL&FS . I had the demat account when I opened account with zerodha.Now I have linked my demat account with Fyers .
So can I purchase shares for long term from my Fyers account.
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What happens if you want to sell shares from IL&FS demat through Zerodha / Fyers?
I had come across the same situation, when my Demat was with Zerodha and 2nd Trading Account with SAS Online.
This is what will happen.
The Shares will remain in the 2nd Brokers Pool Account, till the next Quarterly Settlement.
At the time of Quarterly settlement , the shares will be settled to your Demat Account.
After settlement to Demat, you can sell it only from Primary Brokers Trading Account.
You will incur DP charges 2 times.Once when the shares get settled to the Demat at the time of Quarterly Settlement, and second time when you decide to sell them from your demat.
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You can sell it only through the 2nd Account till the Quarterly Settlement is done. After Quarterly Settlement is done, You can sell it only from your Main Account.
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If I use my zerodha account for buying stock for long term, would I face the same problem