Angel Broking is keeping shares in pooled account

[rupesh47]

Hi,

I found option to enable auto payout of securities from pool to my account. See screenshot.

-Rupesh

[Rahul_Yadav1]

Bro I’m facing the same program .
Pls tell me how to get rid form it

[Ashutosh_Sahu]

Download Nsdl or Cdsl app as per your brokers deposit very and check your shares

[unofficed]

@conquistadorjd

• Security against what ? I am not using margin from angel broking. These are my share so why should broker keep it in his account for security ?
• customer care confirmed that, if I sell shares, I still have to pay DP charges eventhough shares are not deducted from my demat account.
• In holding statement, my shares are shown as “collateral shares” . As per my understanding collateral are similar to pledging. Why Angel is getting shared pledged without my consent ?
• When I asked them that these shares should in my demand account, I was informed to send an email to have these shares payout to my demat account. First, I was not informed about this pooled account scheme, secondly, they may charge me again for transfering shares from one demat (pooled account) to another demat (My demat).
• What is the tax implications considering long term/short term holding for such a transfer.

1. Security against the collateral they offered you. It doesn’t matter if you’re using it or not. It is a common practice of many full brokers. It was duly written in detail in the account opening form which we all generally miss.

There will be options to cancel this inside the platform. It will be marked as “Auto payout to your demat from pool demat”. Something like it.

2. You are paying DP charges because it is being held in DP of Angel. When you sell shares, you have to pay the same.

3. Collateral is exactly like pledging. In Zerodha, Upstox You have to choose if you want to pledge. In brokers like Angel, Alice - It get automatically collateralized! (It will not happen if you do not give POA).

4.a. You were informed. In super tiny writings in account opening form.
4.b. You won’t be charged again. It is demat to demat transfer.

They have to process the shares to your account anyways when SEBI quarterly payout happens.

5. No tax implication. It’s your shares. You have given them POA to use it for giving you collateral.

PS: I am a sub-broker of Angel Broking.

[mohit_arora]

sir this is still happened. what you had done at that time.

[conquistadorjd]

You need to call customer care and ask them that your ID should be marked for auto payout for Share transfer if ledger is clear. Meaning, if you are not using leverage, your shares should get transferred to your DEMAT account.

Most importantly, register on CDSL/NSDL, there you can verify your demat holdings.

[mallikarjuna_makula]

How to check this, where can I pledge shares for margin

[Sukesh_Cjr]

Hello Sir,

I have recently pledged my lifetime earned shares for option selling (40% Pledge + 60% cash balance maintained). Can you please help me if there would be any threat/hidden charges from Angel? I would be careful else i would shift to other safe broker.

Thanks in advance

[unofficed]

@Sukesh_Cjr

I have recently pledged my lifetime earned shares for option selling (40% Pledge + 60% cash balance maintained). Can you please help me if there would be any threat/hidden charges from Angel? I would be careful else i would shift to other safe broker.

I am unable to understand why there is cash balance to be maintained there. Some brokers like StoxKart are still doing Auto Pledge like old days

[Sukesh_Cjr]

Yes 5 paisa and other brokers allow 100% pledge margin for option selling. 50% Cash component is mandatory according to SEBI rules for options.

But can you please clarify my doubt about risk in angel broking? If any hidden interest charges or auto square off pledged shares.