Can I use Broker Pool Demat Account to keep my share and do not give Power of Attorney?

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Are you a day trader?

Technical yes but it’s not allowed by most if the online brokers. Brokers are not supposed to keep the shares in their pool account.

Brokers transfer shares to your demat account as soon as they receive.

The settlement cycle in India is T+2 which means shares will hit your demat account 2 working days after your purchase.

Get more detail about Demat PoA:

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5 Comments

Vikash
5. Vikash  Sep 5, 2020 02:57 I Like It. | Report Abuse Reply 0
My more than 70℅ of shares are in broker account I don't know why? How can i get my shares back please help me with this
Vikram
4. Vikram  Feb 5, 2020 07:38 I Like It. | Report Abuse Reply 0
If my share are in broker beneficiaries. Then my demat account will become dormat ?? And what is the selling process and share transfer process please help me
Rohit
3. Rohit  Oct 4, 2019 19:06 I Like It. 1 | Report Abuse Reply 0
Hi, I had some shares in Pool but now that brokerage firm is suspended by SEBI. Can I get the shares back to my DP by submitting request to SEBI?
Baidyanath pramanik
3.1. Baidyanath pramanik  Dec 9, 2019 14:27 I Like It. | Report Abuse 0
I have some share in pool account my broker BMAWC has not transfer these share to demat account.now the broker has suspended by debit.how and when I return these share?
Nabiul haque
2. Nabiul haque  Nov 27, 2019 19:50 I Like It. | Report Abuse Reply 0
I have some shares in broker pool account but broker has suspended by SEBI.In my Cdsl ac it not reflecting .Broker is not reached out.I mailed but not getting any response .Can i get my holding shares back?if i then how?
Rakesh
1. Rakesh  Oct 22, 2018 13:02 I Like It. | Report Abuse Reply 0
I have a trading and demat account in 5 paisa.com. I have bought some shares which i can see in " My Holding section " in 5 paisa trading platform. But recently I got a mail from Cdsl for that you have nil holding in your demat account. I have contacted 5 paisa helpline. They told that you have to sign a POA then we could transfer shares to your demat account. Is this safe so sign POA?
Administrator
1.1. Administrator  Oct 22, 2018 13:05 I Like It. | Report Abuse 0
Hi Mr Rakesh,

Yes, you have to give the Limited Power of Attorney to the broker for your demat account. This will allow the broker to transfer between your trading and demat account.

Note that this is standard process and every customer does this. It is safe.

Read more detail at:
https://www.chittorgarh.com/article/power-of-attorney-for-demat-account-explained-faq/310/


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