Phonepe Share.Market

[abhishekhembrom]

Any One Who Tried phonepe share.market.

I'm a long time phonepe upi user and they are promoting their broker app every time, so once I tried and open my demat account in phonepe share market broker.

Since, I'm a newbie in this and haven't make any big investment, their brokerage is free till 31st December 2024, afterwards they will charge like other broker same as grow, upstox, zerodha. and Share.Market will be charging ₹15 per month deducted advanced in quarterly, if this was the Case I could have paid to other brokers like Angel One whose have almost near about same charges.

Since I am a new Bie I of think of switch to grow or dhan, as their charges are almost same and their amc is zero.

Can Anyone tell me how to transfer share from one demat account to another and close the existing demat account.

 

[Skylar]

Since I am a new Bie I of think of switch to grow or dhan, as their charges are almost same and their amc is zero.

AMC is zero if your total investments are less than 50K

 

[wcgxlr8]

You can google this and get the steps to shift from 1 demat acc to another, Too lengthly to explain here. In short, register at CDSL, input both account IDs and confirm with OTP. Also, you will be charged a small fee for this (I think 15/20rs)

 

[_rohitsoni]

Brother, sorry to say, but if you are worried about 15-20rs then share market is not for you at this moment. Raw material for share market is having a good income source. Work hard to create a good source then start investing.
Coming to your question - Nowadays, almost all decent brokers charge a minimum fee of 200-300rs as account maintenance, some traditional broker with banks takes around 500-1000 as well. So, no need to change brokers only for charges.
This will be negligible once you cross a certain mark, so I would strongly advise you to go with any broker with good reputation and UI and you are good to go.
All the best!