Hey everyone
My friends and family wants me to handle their trading accounts. Now i have one little problem in it. I have 4 family members and 7 friends who wants this. The thing is i can’t place order at the same time in all the accounts any suggestions or solution for it
How can i pull this through?
@nithin
Yeah, this is an issue. SEBI doesn’t want people to be managing other people’s accounts without a license to do so. If you get a portfolio management license, then you can. But getting that license isn’t easy and there are restrictions in terms of minimum account size having to be Rs 50lks. Technically what you are doing isn’t legal, hence there can’t really be a solution for that.
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why does reply to a particular post doesn’t work most of the times!? It rather replies to the post on general @ShubhS9
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Then I guess this conversation never happened 
I get it.it is not legal they have to manage their money 
This generally happens when your reply is just below the post you are replying to. However, you can always use the Quote function.
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okey
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Sad to see SEBI come up with such stringent rules. I know for example Interactive Brokers, gives you an option for 1 master account, and 12 sub-accounts to execute this (i.e. it is meant for friends and family). Of course, this is in the US, and not sure if IB offers the same for its Indian accounts here.
On a lighter side note, even Gold was illegal at a point in US history. Number of people who were arrested and put in jail, to my knowledge - zero.
If you come to think about it, what exactly is the cause for such legal issues? Tracking with PAN/Aaadhar can give an audit trail, so there is no question of tax evasion.
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90% of all complaints that arise in capital markets and the main reason for most brokers that went bust/scams historically is portfolio management without a license (F&O, intraday, etc). Brokers, Relationship managers, Sub-brokers, advisors, etc taking aggressive risks in customer accounts (many times trading excessively just to generate brokerage) and then blowing up the accounts. And then trying to cover up these losses by doing a bunch of illegal things.
This stuff also happens in the US, but I think financial literacy is much higher than in India. Also, the penalty for financial crimes are quite high, which deters people from committing fraud. In India, it is the other way, since the frauds don’t get punished as hard, the regulations itself needs to be much tighter.
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Jo hota he vo acche ke liye hota he
Change aayega tab ho jayenge adjust
Abhi illegal he to he ussme kucha nahi kar sakte abhi
This is probably the root cause of the problem. No point in having laws, if people are not going to follow it. Enforcement of laws is just as important as the law itself.
This is where you have to question the law/legality of it. Who is it meant for, who is it protecting & who is benefiting (more). I’ve seen laws being made, just to protect incumbents, to deter others from entering a lucrative/promising field.
For example, in the context here - a person who is honestly performing his duties, with limited resources and offering a better service, will soon grow to become a more established player. By instituting stringent laws (like heavy compliance requirements), you prevent such parties from innovating and growing or for that matter even getting a start, at the expense of others, in the name of protection.
Don’t get me wrong here, I am all for regulation. Just that too much of it, prevents growth and innovation.
Still not clear, what sort of illegal things they’re resorting to - and maybe this might not be the place to point that out.
In the case of taxation - in the US, that last thing you want is to have the IRS on bad terms with you. If the Indian IT department reached such a status, we would have more than 3% of the population filing taxes.
Make money, pay tax.
Unfortunately, It’s the burden of high tax that causes people to look for shortcuts, often taking the illegal route.
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Ok tell me technically , if i hold 2 demat account in zerodha, i want to place same order from both the account at same time in single system, is it possible
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Nope not gonna happen 🙅
Even you can’t have 2 accounts on your name you have to provide 2 different PAN and aadhar
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Maybe a Joint Demat account could be a way to have multiple accounts with Zerodha. As per this support page -
You can open a joint demat account at Zerodha with a maximum of three account holders.
As the primary/first holder of a joint Demat account is liable for all taxes (as mentioned in this support page), there might be a probable use case when somebody (who is part of multiple joint demat accounts in their family) wants to access multiple accounts at the same time. For example, in this scenario -
1st Zerodha account - Personal
2nd Zerodha account - Father (First holder) + You (Secondary holder)
3rd Zerodha account - Mother (First holder) + You (Secondary holder)
In the above example, @Mr_M question does become valid. Again this might be possible (aka having joint demat accounts with multiple people) to do this but managing money for others without the appropriate licenses from SEBI is still illegal (as Nithin remarked above)
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Take this perfect opportunity to start your own mutual fund company 
.
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I dont think you can hold 2 demat accounts in Zerodha in your own name alone. If you mean you control 2 demat accounts (in some other combination), you will need to open zerodha in two different browsers to trade.
I have asked technically if i plave buy order, can it b with other account
If we set aside the legal aspect of this issue, then technically it should be possible to place the same order on more than 1 account at the same time. But it won’t be possible via Kite Web. You will likely have to use Kite Connect API for something like that. For example, another forum user (@Suhel_Khan) created custom software to place orders across multiple brokers using their respective APIs (Now see margin requirements on the Kite order window). You could create something like that but instead of interacting with APIs of multiple brokers, you could program it to interact with Kite Connect API for multiple Zerodha accounts to achieve your purpose.
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Better not to manage any person’s account, if they loose money, you would have to hear their anxiety. I would suggest to introduce them to zerodha varsity, so they can start investing on their own
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Thank you for wise advice of yours 
Thanks that was actually my question