Buy same stocks from two different brokers?

Hi, I already bought a stock in Zerodha which I am holding for longterm. If i buy same stock from different broker (mainly for short term trading), both will be stored in different demat account? So buying and selling same stock from one broker won’t have impact in other broker?

It will not have but why keep 2 demat accounts for same PAN ? other than additional AMC charges your accounting work too will increase. frankly speaking i do not see any advantage .

No, no impact, you will have 2 different P&L statements with these trades with 2 different buy and sell prices.

For trading purposes, this is the only way.

When we want to trade for short term in the same stock whose shares we are already holding for long term, we will have to do this, otherwise average price will change and the first bought shares will go out as FIFO happens.

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.

1 Like