Can I open two demat accounts with two different brokers using one mobile number?

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Yes, you can open two demat and trading accounts with two different brokers using one mobile number, email, or PAN number. Most traders have multiple accounts with different stockbrokers. For example, Mr. Rakesh can have the demat/trading account with both ICICI Direct and Zerodha at the same time using the same PAN, Phone, and Email address.

Note:

Only one account is permitted with a broker using a phone number or email address.
An individual can open as many demat and trading accounts as he wants but it should be with different brokers i.e. Zerodha, Upstox, and ICICI Direct.
For IPO applications, only one IPO application is permitted per PAN number in an IPO.

Topic: Where to open a demat account? Article

1 Comments

1. Satyam

| Link|February 27, 2024 8:36:50 PMReply

I have opened my father and my demat account using different brokers and banks but on same mobile no.
Can there be any problem for ipo.

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