Many investors change their stock broker after some time. This can happen because of high brokerage charges, better trading platforms, or improved customer support from another broker.

When switching brokers, investors often wonder whether they need to sell their shares and buy them again. The good news is that you do not need to sell your investments. You can easily transfer shares between brokers directly from one demat account to another.

In this guide, you will learn how to transfer shares between brokers in India, the methods available, documents required, charges involved, and the exact step-by-step process.

Why Investors Transfer Shares Between Brokers

There are several reasons why investors move their shares from one broker to another.

If you are choosing a broker for long-term investing, you can also read our guide on Best Demat Account for Beginners in India.

Can You Transfer Shares Between Brokers?

Yes. Shares can be transferred from one demat account to another without selling them.

This is called off-market transfer.

The shares move from:

Old Broker Demat Account → New Broker Demat Account

This process is supported by India’s two depositories:

• NSDL (National Securities Depository Limited)
• CDSL (Central Depository Services Limited)

If you’re unsure how demat accounts work, check our guide explaining the Difference Between Demat Account and Trading Account.

Methods to Transfer Shares Between Brokers

There are two common ways to transfer shares between brokers in India.

1. Using CDSL Easiest Facility

The CDSL Easiest platform allows investors to transfer shares online.

Steps include:

1. Register on CDSL Easiest
2. Link your demat account
3. Add the new demat account as a trusted beneficiary
4. Submit the transfer request

This method is commonly used by investors with CDSL demat accounts.

2. Using Delivery Instruction Slip (DIS)

Another traditional method is using a Delivery Instruction Slip.

A DIS is similar to a cheque used for transferring securities.

Steps include:

1. Request a DIS from your current broker
2. Fill the target demat account details
3. Mention the ISIN number of shares
4. Submit the form to your broker

Your broker will then process the share transfer.

Step-by-Step Process to Transfer Shares Between Brokers

Let’s understand the full process clearly.

Step 1: Open a New Demat Account

Before transferring shares, you must open a new demat account with the new broker.

This requires:

• PAN card
• Aadhaar card
• Bank details

The account opening process usually takes 10–15 minutes online.

If you are still choosing a broker, you may want to read our comparison of Zerodha vs Groww for Beginners.

Step 2: Collect Your Demat Account Details

You will need the following details from your new broker.

These details are required for the share transfer request.

Step 3: Fill the Delivery Instruction Slip

Next, fill the DIS form provided by your old broker.

Information required:

• Target demat account number
• DP ID of new broker
• ISIN number of shares
• Quantity of shares

Make sure all information is accurate to avoid rejection.

Step 4: Submit the Transfer Request

Submit the DIS form to your existing broker.

The broker will forward the request to the depository.

Step 5: Shares Get Transferred

Once processed, the shares will appear in your new demat account.

Typical transfer time:

Charges for Transferring Shares

Share transfer charges vary depending on the broker.

You can estimate overall brokerage costs using our Demat Brokerage Comparison Calculator.

Important Things to Check Before Transfer

Before transferring shares, check the following.

Verify Demat Account Details

Incorrect DP ID or Client ID may lead to failed transfers.

Check Pending Orders

Cancel any open orders before initiating the transfer.

Confirm Share Availability

Ensure the shares are available in your demat account.

Should You Sell Shares Instead of Transferring?

Some investors think selling shares and buying them again is easier.

However, this is usually not recommended.

Transferring shares is generally the better option.

Can You Transfer Shares If the Demat Account Is Inactive?

Yes, but you may need to reactivate your account first.

You can follow the steps explained in our guide on How to Reactivate an Inactive Demat Account in India.

Once the account is active, the transfer request can be processed.

What Happens If You Close the Old Demat Account?

Many investors close their old demat account after transferring shares.

Before closing, make sure:

• All shares are transferred
• No pending transactions exist

You can learn the complete process in our guide How to Close a Demat Account in India.

Tips for Smooth Share Transfer

Follow these tips to avoid delays.

✔ Double-check demat account numbers
✔ Ensure KYC is updated
✔ Submit correct ISIN details
✔ Keep copies of DIS forms

These steps help ensure the transfer is processed quickly.

Final Thoughts

Transferring shares between brokers in India is a simple process that allows investors to switch brokers without selling their investments.

By opening a new demat account, submitting a transfer request, and verifying the required details, you can move your shares safely to another broker.

This option is especially useful for investors who want to reduce brokerage costs or switch to a broker with better trading platforms.

If you are starting fresh with a small investment, you can also read our beginner guide on How to Start Investing in Stock Market with ₹1000.

Frequently Asked Questions (FAQ)

Can I transfer shares from one broker to another?

Yes. Shares can be transferred between demat accounts using online transfer or Delivery Instruction Slip.

How long does share transfer between brokers take?

Online transfers usually take 1–2 days, while DIS transfers may take 3–5 working days.

Are there charges for transferring shares?

Yes. Brokers typically charge ₹25–₹100 per ISIN for off-market transfers.

Is share transfer taxable?

No. Transferring shares between your own demat accounts does not trigger capital gains tax.

Can I transfer shares if my demat account is inactive?

You may need to reactivate your demat account first before transferring shares.