My cousin brother is asking me to trade from his account as he is unaware how to do so.
What are the legal implications? Can i fall into trouble for using his account, if personal relation becomes bitter between us in future for some reason?
Kindly suggest.
Thanks
He can potentially complain tomorrow saying you stole the login/pwd from him, and claim if there were any losses from trading. Legally SEBI doesn’t allow one person to trade on behalf of another. But in online trading, if your cousin shares his login/pwd with you, there is nothing that disallows this.
Legally, using other’s account is NOT allowed AFAIK.
Best is to avoid such cross-use, as relations do get shaky sooner or later. You never know how things will span out in future - personally or professionally.
Thank You so much @nithin @RSOptions for the response. I better be careful and avoid using his account then.
Subject to correction, to be on a safer side, better to get a power of attorney from your cousin so that you may operate the account. It is a harmless exercise.