How safe it is to park funds like 15 to 20lakhs with brokers largely for doing intraday trades which involves high margin associated with option selling. Brokers like 5 paisa ,zerodha. What is the security we have with respect to the funds parked in
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This boils down to trust. I have over a million rupees parked with zerodha and finvasia. Never had a problem of security. Note that money can be withdrawn only to the bank account you have linked to your trading account.
On a side note stock brokers are required to transfer unutilized money kept in the client’s trading account back to the client’s bank account at least once, in a period of 90 days.
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