How to Transfer Shares Between Brokers Without Selling Your Holdings

The short version: you can move your shares from one broker to another without selling them. The process uses a system called CDSL Easiest, or an equivalent NSDL facility. It takes a few days, and it doesn’t trigger any tax event. Here’s the step-by-step process.

Why you’d want to transfer shares at all

You might switch brokers for lower fees, a better trading app, or better research tools. Selling your holdings and rebuying them elsewhere would trigger capital gains tax, even if you just want to keep the same shares.

A direct transfer avoids that entirely. Your holdings move from one demat account to another, with your ownership and purchase history intact for tax purposes.

The two systems: CDSL Easiest and NSDL Speed-e

India has two depositories, CDSL and NSDL. Each maintains its own online transfer system. CDSL’s is called Easiest. NSDL’s equivalent is called Speed-e.

Which one you use depends on which depository holds your existing demat account. Your broker’s app or website usually tells you this clearly, often in your account statement.

Step-by-step: how the transfer actually works

First, open a demat account with your new broker, if you haven’t already. You’ll need this account ready before initiating any transfer.

Next, register for CDSL Easiest or NSDL Speed-e online, using your existing demat account details. This usually requires a One Time Password sent to your registered mobile number.

Then, submit a transfer instruction specifying which shares to move, and to which account. Some transfers need your old broker’s physical or digital authorization too, depending on the mode you choose.

Finally, wait for the transfer to process. This typically takes a few working days, though it can vary depending on the depository and broker involved.

Costs and things to watch for

Some depositories charge a small fee per transfer instruction, or per scrip transferred. This is usually minor compared to potential savings from switching to a lower-cost broker.

Double-check that all your holdings transfer correctly, including any bonus shares or corporate action entitlements. It’s worth verifying your final holdings statement against your old account once the transfer completes.

What happens to your old account

You can close your old demat account once the transfer is complete and confirmed. Some brokers charge an account closure fee, so it’s worth checking that before you begin.

Keeping the old account open isn’t harmful, but it may still attract annual maintenance charges if it’s not properly closed.

Step	What happens
1	Open new demat account
2	Register on CDSL Easiest or NSDL Speed-e
3	Submit transfer instruction
4	Wait for processing (a few working days)
5	Verify holdings, then close old account

Related reading

• Demat vs Trading Account: What’s the Difference
• Zero Brokerage Apps: What’s the Catch and How They Actually Make Money

Frequently asked questions

Does transferring shares between brokers trigger capital gains tax?

No, a direct off-market transfer between your own demat accounts doesn’t trigger a taxable sale, since you retain ownership throughout.

How long does a share transfer between brokers usually take?

It typically takes a few working days, though the exact timing can vary depending on your depository and the brokers involved.

What’s the difference between CDSL Easiest and NSDL Speed-e?

They’re equivalent online transfer systems run by India’s two depositories, CDSL and NSDL — you use whichever one holds your existing demat account.

Are there any charges for transferring shares between brokers?

Some depositories charge a small per-transfer or per-scrip fee, which is usually minor compared to the savings from switching to a lower-cost broker.

Should I close my old demat account after transferring shares?

Most investors do, to avoid ongoing annual maintenance charges, but it’s worth checking your old broker’s closure fee first.