How To Link Multiple Trading Accounts to Your Demat Account?

Managing your finances can seem like a full-time job when you are negotiating with several brokers for better deals or services. However, what if everything could be centralised? What could be more efficient than enjoying the benefits of multiple brokers while managing all your trades from one platform? That's precisely what happens when you open a trading account one after the other, and link all of them to one Demat account. That said, let’s walk you through a step-by-step process of the same.

5 Steps to Link Multiple Trading Accounts to Your Demat Account

If you are someone who actively trades in the stock market, linking multiple trading accounts to your Bajaj Broking Demat account can ease out your investment process. Here's how you can do it.

1. Open a Trading Account

It is legal to open trading accounts with more than one broker in India. All these accounts, nevertheless, can be linked to a single Demat account. However, before continuing, make sure you open these trading accounts with the brokers of your choice.

2. Use Your Current Demat Account

A Demat account basically acts as a digital repository for your shares and securities. In India, you can open a Demat account with either NSDL or CDSL, usually through a Depository Participant (DP). This DP can be a bank or broker. Nevertheless, make sure that your DP supports linking with multiple trading accounts.

3. Submit a Request for Linking

Once you open a Bajaj Broking trading account, you will need to request your Demat account provider (DP) to link them. Most brokers allow this process to be done online or via a physical form. Generally, you will need to provide some details. This may include your trading account numbers, DP ID and Client ID of your Demat account.

4. Documentation and Verification

At this stage, your DP will verify your request. To proceed, you may need to submit several documents like

• All copies of account opening forms are right from your trading accounts.
• A self-attested PAN card copy.
• All/any proof of identity, i.e., Aadhaar or Voter ID.
• All/any address proof like utility bills, bank statements, etc., as requested by the DP.

5. Demat Account Charges

Although there are usually no additional expenses associated with linking multiple trading accounts, keep in mind that Demat accounts typically come with annual maintenance charges (AMC), in addition to other fees like transaction charges. To avoid any confusion later, check in with your DP to learn more about these Demat account charges.

6. Confirmation and Activation

Once your request is processed and verified, the linking will be confirmed by your DP. Generally, users are notified via email or SMS. Shortly after, you can manage all your trading accounts through a single Demat account.

Why Should You Consider Linking Multiple Trading Accounts to Your Demat Account?

Following are some solid reasons why you should consider linking multiple trading accounts to a single Demat account:

1. Centralised Portfolio Management

Managing and tracking all your investments and assets becomes extremely easy. This includes bonds, shares, mutual funds, and more. You only need to glance at one dashboard to view your holdings, rather than having to switch between multiple accounts. This process eases portfolio management and makes the entire performance tracking of your assets quite simpler.

2. Cost Efficiency

Keeping multiple Demat accounts can result in higher expenses, especially when it comes to transaction fees and AMC. These recurring Demat account charges can be reduced by linking all your trading activity into a single Demat account. Eventually, it results in significant cost savings along with transparency.

Final Thoughts

Summing up, linking multiple trading accounts to your Bajaj Broking Demat account can be a smart move for active traders and investors. It reduces the hassle of managing multiple Demat accounts and helps you save on Demat account charges as well.

(Note - This article is written by Brand Desk.)