InvestorQ : Does one need to open a separate intraday trading account to trade intraday?
Swati Naik made post

Does one need to open a separate intraday trading account to trade intraday?

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shrinidhi Rajan answered.
3 years ago
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That is not really required. What you can do is to use your normal equity trading account only. Are you first trading in physical order or are you trading online orders? If you are trading online then you must select MIS (Margin Intraday Square-off) order while placing the order so that the broker will mark that order as an intraday order and you will be able to take a larger position. You broker may offer you 5-6 times the margin that you have put in your trading account. This can differ based on your own track record and your relationship with the broker.
There is nothing like a separate trading account for intraday. You can put intraday trades in a normal equity trading itself. That is all. It is quite simple just take care to ensure that you select the order as intraday. Otherwise, your broker will not give you margin to trade. Intraday trading means that net position is zero because whether you buy or sell in the morning, your position is closed out the same day. Since the net position is zero at the end of the day, nothing goes in or goes out of your demat account.
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