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POSTED BY ON March 13, 2012 10:51 am COMMENTS (2)
I have account in one of the brokerage firm of india , i want to ask something about DP charges ,
i have some doubts regarding DP charges ,
my 1st doubt is i hold shares of many company in pool account of that brokerage firm , since last 1 year , but last week when i transfer those shares to my DP account that broking company charges for it .
my 2nd doubt is since last 1 one year i found demat transfer charges if i sold any one of my stocks from pool account of broking company ,
ex: suppose i bought 5 shares of sbi on 5th jan 2012 and i sold that sbi shares on any day lets say on 12th of jan 2012 that brokerage company charges rs 6/- against DP charges ( at that share was in pool account ) then why they charge Demat charges
thanks
deepak
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Hi Deepak,
It is a common & very dangerous practise to hold you shares in a broker’s pool account. Generally people hold shares in the pool account to save upon the Demat charges – but they forget that as the shares are not in your Demat account, your broker is actually the owner of your shares in the mean time. Any dividend, corporate action, etc. get credited in your broker’s account. And further, if the broker goes bust, you loose your shares.
In case of charges, your broker will tell you why he is charging you. As Ashal has mentioned, it depends upon the brokerage firm.
Regards
BFA
Dear Deepak, if you really care for your money, please do not keep your shares in pool account. Please insists to keep your shares in your demat account only. Please read the T & C agreement signed between you & your broker for the details of charges & how ‘ll these be deducted from you.
In case you are not satisfied with the services & set up, you may change your broker.
Thanks
Ashal