Can a research analyst access my trading account?
The short answer. You do not need to share a trading, demat or bank account login to receive research. SEBI client terms say a research analyst cannot execute trades for the client. They also prohibit requests for trading, demat or bank login details and one-time passwords, called OTPs.
Published 10 November 2026 · Potoos Research Services
The service boundary
The standard client terms in SEBI's Master Circular, called the Most Important Terms and Conditions, describe research services and prohibit an analyst from executing trades on the client's behalf. On the next page, they say the analyst must never ask for account login details or OTPs.
The Investor Charter also tells investors not to give investment funds to a research analyst. This distinction matters when a service describes what it will do for you.
What each account does
| Account | Plain-English meaning |
|---|---|
| Trading account | The account with a stock broker used to place exchange transactions. |
| Demat account | The account that holds securities, such as shares, electronically. |
| Bank account | The account used to make or receive money payments for transactions. |
These roles are explained on SEBI's account guide. OTP means one-time password. SEBI's depository charter says passwords and OTPs are for your own use.
What to clarify before joining
Read the service description and written terms together. Look for a clear explanation of how reports arrive and how you can obtain clarification. Keep passwords and account codes out of service chats.
If a message asks you to hand over account access, compare it with the linked clauses before proceeding. Keep the message and contact the provider through the contact details on its official website.
This page concerns a research service. It explains the account-control boundary in SEBI's research-analyst client terms.
Sources
- SEBI Master Circular for Research Analysts. 2026-02-06. Page 60, Annexure B, paragraph 12(i); page 61, paragraph 12(xii).
- SEBI Investor Charter for Research Analysts. 2025-06-02. Page 6, Annexure A, section F, Do’s (v); page 7, Don’ts (i) and (iv).
- SEBI Investor: What You Need to Start Investing. Undated; checked 9 November 2026. Account definitions, lines 4, 8 and 10.
- SEBI Investor Charter of Depositories. Undated; checked 9 November 2026. Dos and Don’ts for Investor, rows 9 and 10, lines 599-600.
- SEBI Investor: How to Invest in the Securities Market. Undated; checked 9 November 2026. Opening paragraph, line 2, identifying shares as securities.
Sources checked on 9 November 2026. Information cutoff: 9 November 2026, 13:40 IST
Common questions
Does an OTP count as an account detail?
Yes. SEBI expressly names OTPs alongside login details in the research-analyst client terms. Do not share them with the analyst.
Can the analyst place an order after I agree?
The standard terms are for research services and state that the research analyst cannot execute trades on the client’s behalf.
Do I transfer investment funds to the analyst?
No. The Investor Charter tells investors not to provide investment funds to the research analyst. The fee for the research service is a separate payment, and the charter asks you to make it through banking channels only and keep signed receipts.
Potoos Research, SEBI-registered Research Analyst. Registration number INH000027380. SEBI is the Securities and Exchange Board of India.
What the research service includes · About Potoos and the analyst.