Comment on Various Types of Accounts

karthik commented on 24 Jan 2015, 11:29 AM

Hi Nithin Kamath,
First of all wish u thanks for your quick and responsive engagement with queries even they are not an entitled customers of Zerodha. This is the one thing (sure! very basic one) that other brokerage firms to learn and keep it follow. okay let’s coming to question in short and quick…

My present Situation:-
1.)I’m having a 3-in-1 account with HDFC Bank {3-in-1 in sense bank account, demat account and trading account) and problem is very high brokerage, useless ‘tips'(they’re calling like that), hectic relationship manager. So, i found no reason to hang around there.
2.)I searched through online(with complete sense:P) for brokerage firms and shortlisted sas online, My value trade, trade jini, tradesmart, composite edge, rksv and zerodha. To be honest, in various aspects and factors each and every firms in the above said comes handy.But, some ‘sensible’ comparison i found rksv and zerodha to make a call..( i ask my fellow investors don’t fall in the trap of by just considering brokerage amount differences like Rs.9, Rs.10 and Rs.15, Rs.20. really some other factors are there to give importance.(i’m saying this cos it may help some other starters,so..)
3.)I’m in talk with rksv for past 2 days and in true said,”their customer service is okay” compare others. i request your team for call back but still none (for past 24 hrs!)

Documents I’ve in my hand:-
1.)Photocopy of my address proof
2.)Photocopy of my pan card
3.)CML form my HDFC bank
4.)1 passport size photo
5.)Cancelled Cheque leaf

My Questions here:-
1.)what I want to do to open a trading account with zerodha?
2.)Is opening a fresh demat account with Zerodha is necessary or handy(because currently i’m having a demat account with hdfc bank..but in the previous comments you told only ‘buy’ side is supported by zerodha if demat is with other one(here my case HDFC) and if i want to sell those shares(considering delivery one because no need of demat for intraday) then i should go with the firm where i’ve demat account(here in my case HDFC). my question is still this scenario is existing or zerodha now supporting both buy side and sell side even the demat account is with other firms(here my case HDFC) ? Because in rksv they told me that they support both buy and sell even i’ve demat with others.
3.)If you still not supporting the ‘sell’ side then what is the procedure to open a demat account and fee if i’m ready to go with zerodha?
4.)when i’m in speak with rksv they told me some Rs.22 as a depository fee for each time shares delivered into my demat account. is the same here with zerodha? if yes can you explain in detail because they(rksv) hiding those charges or something not honest in revealing to customers.
5.) If i’m opening a demat account with zerodha then i want to pay AMC every six months once and don’t want to sign ECS is it OK? Is signing ECS mandatory( i read previous comments that you said not mandatory but just asking to confirm because i don’t want to get reject of my application if i’m going to open an account with zerodha) ?
6.)Is margin trading facility is available with zerodha or still not added?

note: i know it’s long comment but I strongly believe it might be useful for starters once got answered by you.

I If you want you can contact me in 97 51 528 593.

Eagerly waiting for your response Mr.Nithin
Thanks in Advance.

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