Hello all,
I have decided to take up trading. I am still a student. Although I will be learning a lot along the way, I have a few questions before starting out. I'm a beginner, so please bear with me.
I am aware I need a SB account, Demat account and a trading account.
Regarding my Savings Bank account :-
Like I said, I'm still a student. So I'd like facilities such as low minimum balance, etc.I am aware of the "3-in-1" facilities offered by a few banks. What I want to know is that they are really worth it? SBI today told me they have stopped with their 3-in-1 services. Would it really be advisable to have a 3-in-1 account? If so, I really am not interested in nationalized banks. Will private banks really pose a threat regarding security and guarantees? What would you all suggest?
Regarding my Demat account :-
Charges for opening and maintaining a Demat account stand at 600 and about 400 on an average, respectively. I know my Demat account will be linked to my bank account. Assuming my Demat account is with a different DP and SB account is with a different bank, am I in for a lot of hassle regarding transfer of funds? Also, I don't understand when some people on the internet say some DPs don't allow internet viewing.What is this?
Regarding my trading account :-
Do all DPs or banks have good trading applets/platforms? Whose trading platform do you all suggest I pick ? Should I also most likely have my Demat account with them? For example, Sharekhan, maybe. The brokerage costs are a concern too.
My apologies for the size of the question, but I'd really appreciate an informative answer. Thank you!
I have decided to take up trading. I am still a student. Although I will be learning a lot along the way, I have a few questions before starting out. I'm a beginner, so please bear with me.
I am aware I need a SB account, Demat account and a trading account.
Regarding my Savings Bank account :-
Like I said, I'm still a student. So I'd like facilities such as low minimum balance, etc.I am aware of the "3-in-1" facilities offered by a few banks. What I want to know is that they are really worth it? SBI today told me they have stopped with their 3-in-1 services. Would it really be advisable to have a 3-in-1 account? If so, I really am not interested in nationalized banks. Will private banks really pose a threat regarding security and guarantees? What would you all suggest?
Regarding my Demat account :-
Charges for opening and maintaining a Demat account stand at 600 and about 400 on an average, respectively. I know my Demat account will be linked to my bank account. Assuming my Demat account is with a different DP and SB account is with a different bank, am I in for a lot of hassle regarding transfer of funds? Also, I don't understand when some people on the internet say some DPs don't allow internet viewing.What is this?
Regarding my trading account :-
Do all DPs or banks have good trading applets/platforms? Whose trading platform do you all suggest I pick ? Should I also most likely have my Demat account with them? For example, Sharekhan, maybe. The brokerage costs are a concern too.
My apologies for the size of the question, but I'd really appreciate an informative answer. Thank you!