Is it possible that someone can withdraw margin/ money from your zerodha account if you give your account to someone else to handle, like to people who provide account handling service
Is it anyway possible that they could change the bank account details or withdraw the money anyway?
Its not possible.
Please read the help articles on this page: https://support.zerodha.com/category/funds/adding-bank-accounts
Hi,
The money can’t be withdrawn directly from your trading account but, you should know the risk behind giving your account details to someone else. They are those people who basically trade illiquid options from your account so once they will place a buy order of let’s say 5 lks worth option, they would be selling the same amount of options from their account. So, your money will indirectly go to 0 and then they will just vanish away after doing this fraud. Also, income tax people would be on run for you since trading in illiquid options are most of the time connected to IT frauds done by traders.
Please don’t give your account details to anyone else otherwise it would be a matter of seconds and you will loose all your money. They are just fraud who ask account details from you. SEBI has made it clear that no one can ask account details of trader to handle their account. So, if anyone is doing that means the person is doing illegal thing and would surely gonna harm you.
I don’t know the person who has commented on your post but, 1 thing is for sure that he is a newbie or might be connected to those people.
Please don’t comment on the critical posts for which you don’t know the thing. The person could become a victim of fraud.
Can’t see the comment now.
I believe it has been deleted.
@pradeep_kalra Thanks a lot for your insight on this. I had never even thought that this could be a way to vanish the money.
Thank you for your revert on this.
Yes, don’t give your account details to anyone, they can transfer indirectly from your account to theirs as mentioned by pradeep. @Lakshyaraj_Singh
Can check this.