Hi
1) If a person does not have any demat account can he still open only trading ac with you, if yes, then can he trade intraday in cash or only F&O?
2) If one opens only trading ac with you is there any provision for nomination? If not, what happens in case of death of the ac holder? Do you transfer the balance amount to the linked bank account automatically after a specific period or only on intimation to you by family members?
1) If a person does not have any demat account can he still open only trading ac with you, if yes, then can he trade intraday in cash or only F&O?
2) If one opens only trading ac with you is there any provision for nomination? If not, what happens in case of death of the ac holder? Do you transfer the balance amount to the linked bank account automatically after a specific period or only on intimation to you by family members?
1. Trading in F&O permissible without DEMAT, for trading in Cash it is mandatory even if it is intraday trading.
2. There is an option for nomination for Trading a/c also but it is not mandatory.
3. Quarterly settlement is mandatory now so after a quarter all margin money in trading a/c is transferred to linked bank a/c and all delivery of stock is as it is in client's DP.
best wishes,
Team VPS