If you are a trader or an investor connected with Angel Broking that are you must be aware of the Angel Broking POA form?
Angel Broking POA form , also known as Power of Attorney, is a legal paper for the broker which gives him full or limited authority to debit your stocks or shares from the demat account whenever you sell them.
Angel Broking POA is a part of the Demat account form that can be signed digitally and on paper as well.
Angel Broking POA Process
Angel Broking POA is mandatory in nature. Thus, it is important to give complete authority to your stockbroker- Angel Broking to debit your shares during the transaction while making a trade.
But how to give access to the Stockbroker? Is there any Angel Broking POA process that must be carefully carried out by the account holder? Yes, there is a process that is vital to follow while giving legal authority to Angel Broking.
Below is the Angel Broking POA form filling process that you carefully need to follow step-by-step:
Download the form from the Angel Broking official website.
In this editable PDF form, you can conduct the advanced tools and fill the form online.
Here, simply enter your official contact number and identification information.
Always use a checkmark to see the choice wherever needed.
Check all the information provided by you again in the Angel Broking POA form.
Use the Signtool to create and add your electronic signature in the Angel Broking POA form.
Now, press on the “Done” button to complete the process.
You can print, save, and share the form now.
In case you get any queries or information, you can address the support section of Angel Broking POA for help or assistance.
Angel Broking POA Charges
You might be wondering that there must be some Angel Broking POA charges to avail of such mandatory service. However, you will be amazed to know that there are no Angel Broking POA charges.
It is vital to know that having an Angel Broking POA is not mandatory for the investors opting for F&O trading. So, if you are planning to trade in the derivatives segment than you can skip the step of filling POA.
Angel Broking POA Is Compulsory?
For the equity trading delivery, you should have 2 accounts with broker :
Trading account is a must to place orders to both buy or sell shares. The shares which are bought by the trading accounts are delivered to the demat account in an electronic way.
For the sell orders, brokers need to have shares to deliver it to the buyer.
The shares can be delivered to the brokers in 2 ways in case of sell orders :
You can give power of attorney to your brokers for the automatic withdrawal of the shares when you are selling.
There is another way round in which you can transfer the shares to the broker’s Demat account manually.
Always remember, you are giving the authority to your broker on your behalf to extract the shares from your demat account through POA. Generally, you would need to provide this document along with the rest of the Angel Broking Account opening documents.
So, yes ! POA is not compulsory. It is up to you if you want to go for POA. Brokers won’t force you to go for a POA.
If you won’t give any POA, then you are the only operator. And that’s the safest and good way.
At the end we can say that the Angel Broking POA gives you an option to offer the right to your broker to transfer shares directly from your Angel Broking Demat Account.
Here it is important to note that the broker must be registered with SEBI to avoid any fraudulent act.
Since Angel Broking is a full service and a reliable stockbroker it offers you exclusive benefits and an option for filling the POA.
This reduces your trading hassle and helps you to be quick in trading and transferring shares from your demat account without your direct involvement.
Looking forward to open a Demat Account? Refer to the below form