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Tranfer from one broker to another

R!tu Ber! (Chartered Accountant) (405 Points)

18 January 2010

i have account with Indiabulls and faced some problems like charging double brokerage without any info. and charging interest on negative bal. due to their mistake of not updating legder balance on the browser based account even after charging huge brokerage and not allowing tradiing in myriad of stocks so after it has becomr hard to cpoe up with them i m of the view to find some better broker .

So help me by suggesting broker in which i expect

transparent and reasonable brokerage structure

online trading

trading in all stocks

online tranfer of funds

nice RM's

And after all of the above my query is that can i transfer my stocks from indiabulls to another broker ? If yes, than whats the procedure.

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4 Replies

CA.Tarun Maheshwari (CA, DISA) (7150 Points)
Replied 18 January 2010

First of all, let me tell you that nobody is perfect. I have dealt with sharekhan, icici bank, relegare and now dealing with two private brokers. Everybody have these type of problems, still I felt that relegare is better then others. But sometimes, they also create issues like non operation of bse terminal. By the way, you can easily transfer the shares from one broker to another through transfer slips that needed to be given to the broker from whom you want to transfer the shares. This dealing shall be an offline transaction. And you will need to pay some charges also for this.

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R!tu Ber! (Chartered Accountant) (405 Points)
Replied 18 January 2010

sir but what can be done now m fed up of such problems wil i be facing it eveywhere ? and does religare provide us online features and all? and is their brokerage structure reasonable?