Can a person have Two trading accounts legally ?

You can legally have multiple stock trading account, but each must be with a different broker.

You cannot have more than one trading account at the same broker.

Similar to the above, an individual may have multiple demat accounts. However, each should be with a different brokerage.

You cannot, for example, open two trading accounts at Zerodha with your name. You could, however, open one trading account with Zerodha but another with Sharekhan.

Multiple trading accounts can be helpful in many ways

• Indian traders often have two trading accounts. One with a discount broker and one with a full servic broker. Many add-ons are available for free, such as research, advisory, and trading tips. The discount brokers, on the other hand, charge very little brokerage.
• If you are unhappy with the service or charges of your primary broker, they can help you move slowly to another broker.
• It helps traders who trade frequently to reduce the chance of technical problems at one broker.