Mutual Funds brokerage service

sayandeb said:

I've a bit doubt in this question ... and might be it's a big question for all.

Does the mutual funds brokerage service provide the sip mutual funds units in demat form or in non-demat from ?

I want some clear answer from all of you guys..

1. How Zerodha Coin,  Groww, IndMoney,  Upstocks, Fyers stores mutual funds, demat or non demat ? (If possible give a 2 line review as a user of those brokers)

2. If in future any of those brokerage got down or I want to switch my brokerage service provider how will I transfer my mutual fund investments ? As I don't know if those are stored in demat or non-demat.

3. Which one is better option to have those MFs, demat or non-demat ?

4. In case I want to transfer my funds to one from another broker what will be easiest and fastest process for this ?

Might I will get help from @TaxWiser @zacobite @nikhilchauhan @The INSANE Trader @anuragmukherjee28 @ShavirB

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The INSANE Trader said:

1- Demat-based mutual fund platform, Zerodha Coin, Upstox, and Fyers. Groww and INDmoney for non-demat options.
2- You can use the CDSL or NSDL to transfer your mutual fund units to a new brokerage or you can close your demat account with your current broker and request a transfer of all holdings to a new broker.
3- Demat based is best for those who prefer a consolidated portfolio and are comfortable paying small annual and transaction fees for convenience where as non demat is best for investors seeking lower costs and flexibility, especially if they don’t need all investments in one place. If cost is a priority, non-demat is generally the better option according to me, others points may vary in this.
4- This is a long process for explaining it in written format here but in short I am trying to explain it to you Intra-depository or CDSL’s EASIEST feature is fastest for demat accounts. Direct RTA-based transfer using CAMS/KFintech is quickest for non-demat holdings. That's it.

Thank you.

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sayandeb said:

Okay.

Let's set a scenario...

I've some MFs in Zerodha Coin and want to transfer those to my new account in Fyers. Then it will be as easy as the share transfer process using CDSL easiest feature ?

And if those are now in Groww I can't transfer those MFs ?

Am I right ?

Click to expand...

sayandeb said:

Okay.

Let's set a scenario...

I've some MFs in Zerodha Coin and want to transfer those to my new account in Fyers. Then it will be as easy as the share transfer process using CDSL easiest feature ?

And if those are now in Groww I can't transfer those MFs ?

Am I right ?

Click to expand...

sayandeb said:

I've a bit doubt in this question ... and might be it's a big question for all.

Does the mutual funds brokerage service provide the sip mutual funds units in demat form or in non-demat from ?

I want some clear answer from all of you guys..

1. How Zerodha Coin,  Groww, IndMoney,  Upstocks, Fyers stores mutual funds, demat or non demat ? (If possible give a 2 line review as a user of those brokers)

2. If in future any of those brokerage got down or I want to switch my brokerage service provider how will I transfer my mutual fund investments ? As I don't know if those are stored in demat or non-demat.

3. Which one is better option to have those MFs, demat or non-demat ?

4. In case I want to transfer my funds to one from another broker what will be easiest and fastest process for this ?

Might I will get help from @TaxWiser @zacobite @nikhilchauhan @The INSANE Trader @anuragmukherjee28 @ShavirB

Click to expand...

zacobite said:

1) MFs are with nsdl / csdl managed by CAMS / KFINTECH etc directly with MF cos. not in your demat.
2) They are intermediary for mfs.. so even if they go down.. ur mfs are safe with the MF company.. You can transact directly / via mf central
3) you don't have an option.. it is all demat
4) Directly via mf co.. but process is not transfer.. you have to open a new folio with new broker and then put request to MERGE the old folio to new one via kfintech / cams etc depending on mf

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abhishekhembrom said:

Currently Using PhonePe for Mutual Funds about an year, Now that I'm able to see that phonepe have regular mf, but now I want to invest in direct mf, suggest me some brokers that have option to use direct mf, I'm looking for dhan to invest, any dhan user tell your experience.

I'll be converting my regular mf via amc website, it is possible right. If anyone use MFCental share your experience.

Click to expand...

abhishekhembrom said:

Currently Using PhonePe for Mutual Funds about an year, Now that I'm able to see that phonepe have regular mf, but now I want to invest in direct mf, suggest me some brokers that have option to use direct mf, I'm looking for dhan to invest, any dhan user tell your experience.

I'll be converting my regular mf via amc website, it is possible right. If anyone use MFCental share your experience.

Click to expand...

abhishekhembrom said:

Currently Using PhonePe for Mutual Funds about an year, Now that I'm able to see that phonepe have regular mf, but now I want to invest in direct mf, suggest me some brokers that have option to use direct mf, I'm looking for dhan to invest, any dhan user tell your experience.

I'll be converting my regular mf via amc website, it is possible right. If anyone use MFCental share your experience.

Click to expand...