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Can I have 2 Trading Accounts?

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Are you a day trader?

Yes, you can legally have multiple stock trading accounts but each one of them should be with the different broker.

It is not possible to have more than one trading account with the same broker.

In a similar way, an individual can have multiple demat accounts but each one of them should be with a different broker.

For example; you cannot open two trading accounts with Zerodha using your name. But you could open 1 trading account with Zerodha and another with Sharekhan.

Multiple trading accounts help in many ways:

  • Many traders in India keep 2 trading account; one with a full-service broker and another with a discount broker. The full-service broker offers many free add-ons like research, advisory and trading tips. On the other side, the discount brokers charge very low brokerage.
  • They help you slowing moving to another broker if you are not happy with your primary broker's service or charges.
  • For frequent traders, it helps to mitigate the risk of technical failures at one broker.
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