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Can I trade using my parents account?
An NRI can trade using his father’s trading account. However, the father would be liable to pay income tax on any gains arising from such investments. An NRI can transfer money to the father’s bank account as a gift or loan which would be linked to the trading and Demat account.
Is it legal to trade stocks for someone else?
You cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license. There are few exceptions to this rule.
Can I take money from others to invest in stock market?
you can invest money of others in share market after obtaining trading license as broker from the stock exchange or sub-broker license from any broker agency. Such business not permissible without valid license. If you open your own account and start to buy and sell stocks on your own, no license is required.
Can I legally invest other people’s money?
You do not need a license to invest or trade your own funds. You only need licensing if you’re trading other people’s money and they’re paying you or your company for this service.
Can I invest in stocks in my mother’s name?
There is no problem, if your mother give her consent that you can transact investment of share trading on behalf of her where demat account should be in the name of her and transaction of investment will run through her bank account as mentioned at the time applying for demat account.
Can I buy stocks for my parents?
Parents can purchase stocks for their adult children as well as their minor children. If you purchase stocks for your minor child, you’ll set up a custodial account, which becomes the property of the child even though you can manage the account until the child reaches the age of majority.
If you have Power of Attorney (POA) and wish to sell shares on behalf of a friend or loved one, we can help you. There are many occasions where the shareholder is unable to act for themselves, therefore a power of attorney allows an agent to initiate and authorise the share sale on their behalf.
Can you invest for family members?
If your family or friends really want your help, joining or starting an investment club is a great compromise. You can invest your money with your loved ones, without taking on the responsibility of acting as an investment advisor.
Do I need a license to trade stocks?
There are several ways to get into trading. If you open your own account and start to buy and sell stocks on your own, no license is required. If you want to work for a financial company and make money for your employer through trading, you will need to pass a test and obtain a securities license.
How can I transfer funds to my Zerodha account?
While trading at Zerodha, you can transfer funds to your trading account using the instant payment gateway (Rs 9 per transfer), NEFT/RTGS/IMPS or through cheques. Our instant payment gateway is available for around 30 banks mentioned here.
Why can’t I transfer money into my trading account?
If you have not done so already, make sure you have linked your bank account to your trading account. You will not be allowed to transfer money until your brokerage firm verifies the bank account ownership. This may take some time and may require you to verify small deposits made to your bank account.
How can I open a trading and Demat account with Zerodha?
The bank where you opened the NRE/NRO account will take care of this. Make sure to submit all the requisite documents. You can now open a trading and demat account with a brokerage firm (like Zerodha). Along with all the other documents, you have to also give a copy of the PIS letter that the bank would have given you.
How to get money from stock market to bank account?
How to Get Money From Stocks to Bank Account 1 Sell and Transfer Funds. If you’re ready to sell some stocks, log in to your online brokerage account and open your trading window. 2 Verify It’s Worth Selling. It’s beneficial to do some double-checking before buying or selling stock. 3 Waiting Periods. 4 Transferring to the Bank.