@nithin recently I got mail from different brokers asking why I have 20+ trading account with account ,why this an issue for cdsl
(Most of them are dormant account as I actively trade with 3-4 accounts)
(Most of them are dormant account as I actively trade with 3-4 accounts)
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We often end up opening multiple Demat Accounts 
As nowadays none of the brokers allow you to open a trading account without opening a Demat Account with them.
Previously, we could use the CMR Report for mapping our existing Demat Account to open a trading account with a different broker.
I think SEBI should act strictly against such brokers who refuse to map our existing Demat Accounts.
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Hi @rahulsingh.
CDSL’s surveillance team monitors accounts with the same PAN to ensure compliance and prevent misuse. When they detect 20+ accounts linked to one PAN, they require verification to confirm:
- Whether you, as the actual account holder, are aware of all these accounts
- That no unauthorized accounts were opened using your details
- That accounts weren’t opened by others for referral benefits or unauthorized purposes
Which is why the Depository Participants (DPs/brokers) are asked to reach out to clients like you to verify the genuineness of all accounts. Based on your confirmation:
- If you confirm ownership: The accounts remain active
- If you don’t confirm (accounts with holdings/balance): The DP will freeze those accounts
- If you don’t confirm (nil balance accounts): The DP will process account closure
This is a standard regulatory check to protect your interests and ensure account security.
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Are you paying AMC for all these accounts? Why did you open so many?
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Most of them are inactive accounts as I have been trading for a long time ,tried different brokers to check their platforms and order execution
Better you can close some accounts and stick to a few of them and do trading /investing etc.
peace of mind it is …
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@Tharun_Iyer_M
Hi bro , very silly question i have, but i was just wondering, isn’t it a good idea to have multiple brokers’ trading accounts linked with 1 demat, i mean I know some people will come and brag about the FIFO things, good to have multiple demat accounts and so on …
But I was just curious to know what are the complexity is there to implementing these things, and why brokers prefer to have both trading and demat accounts, is it compliance, business or what?
Which one you like most. 
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Bro to be honest, how does this thing even matter, at the end of the day, if you are profitable, your portfolio looks green, that all …
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Make sense 
, but if a person used 20+ broker, he must have something to say.
Kite groww paytm money apps are most easy to use and big orders can be punched easily 
Mainly used that paytm money account for simple option buying so no problem for me till now,main reason was 10 rs brokerage earlier 
You only need one broker : Zerodha
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@bharat1080 so cringe bro.
but ya i totally agree Zeordha is way better than any other brokers in the market, but I think they are too lazy with introducing new features.
I know people will come and say that “you dont know how much effort goes inn etc etc” i agree with that as well, but DUDE come on they should implement features like Safe exit, grouping inside holding sections, scalper mode etc
You don’t need all this things to trade. You only need all these tools if you manage 1 cr+ portfolio.
Whenever I buy anything immediately I place sell order.
You don’t need any tools for this, trading is so simple we make it complex.
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Bruh, 20+ demat accounts!? Seriously? Why not open one, test and close if you dont like it. What comparison are you doing across all? 20 demat accounts are way too much. I am surprised why CDSL flagged it after 20 demat accounts. Even 5-6 is overkill, if you are an active investor and trader. This notification should have come to you sooner.
These accounts are opened over a period of time 10+ years and most of them became dormant ,so I don’t feel the need to go through the hassle of closing them🙂
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That’s wild — I actually have 26 demat accounts across different brokers, and all of them are still active. I’ve never received any message or verification call from any broker or from CDSL asking why I have so many.
Should I be worried about this? Is it something that could create issues later, or trigger any kind of compliance check?
Would love to know if anyone else here is in a similar situation or has faced any communication from their brokers or depository.
Well since you did not want the hassle of closing them, now depository will make you. I am befuddled with your reply.
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