I have a Demat account with IIFL . I want to change my broker. I want to move into zerodha. How to do it?
I am assuming that you have shares in your current demat account in which case you would want to transfer them to the zerodha demat account, following link should clear that issue for you.
Besides that, it is fairly simple. You close down the previous account and download the relevant forms from the zerodha site and send it off to the corresponding address. You can also have an instant account with Aadhaar.
If you have shares in Demat with IIFL and you want to shift to Zerodha, then you can opt for a closure of your IIFL Demat and transfer of shares to your Zerodha Demat.
If you do not have shares in IIFL, then you can just open a new account at Zerodha.
Is it necessary to open a demat account with zerodha? Can’t I change only broker without opening a demat account with zerodha? I will open a treading account with zerodha and close the trading account with my previous broker.
Open a Trading+Demat account, it’s the best way to go forward. You may find the need to invest in equity, mutual funds, smallcases etc along the way for which you’ll require a Demat. Even if you don’t intent to invest, it is always prudent to open a Demat account along with your trading account. And opening a Demat at Zerodha costs only Rs.100.
@Srinivas Rs.100 ? I think account opening charges are 300
I already have a demat account with IIFL. It’s not about the cost of opening a demat account with zerodha It’s about the deficalties of transfer of shares form old demat account to new Demat account and the charges related with it. Is there any online process?
As I know I can add multiple trading account with a demat account. I am willing to revoke the power of attorney from IIFL and give it to zerodha. What is the process?
Here’s a link that can help clear your doubts regarding the matter.
With the aforementioned approach you can buy your shares with your zerodha trading account and they will be transferred to your iifl demat but you will have to use the iifl platform to sell the same. Confirm with a representative and proceed.
Is there any option or process so that I can sell the share via zerodha? Can I revoke power of attorney from iifl and give it to zerodha so I can sell share using zerodha platform?
hey. i want to change my broker from iifl to zerodha but have active paid (annual subscription) smallcase. I can transfer shares from iifl to zerodha demat but will the current smallcase be active on new zerodha account too?
I mean can smallcase data and subscriptions be transferred in too to new broker?