Hello,
I am looking for some information about online share trading in India. Because I live abroad (Canada) I am unable to physically visit a bank's branch. I am just trying to collect as much information as possible so that when I come to India next (should be in December, 2007), I can just go and finish all the formalities.
Please correct me if I am wrong, but here is what my understanding is so far:
Step 1: I need a savings bank account
(I already have one with HDFC Bank, so that should be sufficient)
Step 2: I need a demat account
(since I have a savings account with HDFC bank, I guess I can just open that account with them)
Step 3: I need to register with an online-trading portal. This could be the bank itself (HDFC bank) or it could also be a separate trading portal such as 5paisa.com, sharekhan.com etc.
(Please let me know which one would be best to use online. Since I live abroad, I would like something that works online without requring me to go to the branch physically, or calling the customer service etc. something that just works reliably, flawlessly and speedily).
Is my understanding correct? Please let me know if I am missing anything.
I already do have the necessary documentations such as PAN Card, Passport, License etc.
By the way,
Can I have one demat account (let's say with HDFC) and open more than 1 trading-portal accounts (say with 5paisa.com, sharekhan.com - both at the same time linked to same single common demat account)?
Thanks
I am looking for some information about online share trading in India. Because I live abroad (Canada) I am unable to physically visit a bank's branch. I am just trying to collect as much information as possible so that when I come to India next (should be in December, 2007), I can just go and finish all the formalities.
Please correct me if I am wrong, but here is what my understanding is so far:
Step 1: I need a savings bank account
(I already have one with HDFC Bank, so that should be sufficient)
Step 2: I need a demat account
(since I have a savings account with HDFC bank, I guess I can just open that account with them)
Step 3: I need to register with an online-trading portal. This could be the bank itself (HDFC bank) or it could also be a separate trading portal such as 5paisa.com, sharekhan.com etc.
(Please let me know which one would be best to use online. Since I live abroad, I would like something that works online without requring me to go to the branch physically, or calling the customer service etc. something that just works reliably, flawlessly and speedily).
Is my understanding correct? Please let me know if I am missing anything.
I already do have the necessary documentations such as PAN Card, Passport, License etc.
By the way,
Can I have one demat account (let's say with HDFC) and open more than 1 trading-portal accounts (say with 5paisa.com, sharekhan.com - both at the same time linked to same single common demat account)?
Thanks