Q: I trade with 3 brokers RKSV, Sharekhan and Zerodha . should i open three accounts for each in Mprofit? How the calculation will take place if i buy from rksv and sell same with zerodha.
A: MProfit calculates capital gains on a global level based on First In First Out (FIFO) method. It does not calculate capital gains for individual broker.
Here is the explanation with example:
01-Jan-2012 – Buy – Infosys – 100 @ 2500 (through RKSV)
01-Jan-2013 – Buy – Infosys – 200 @ 3000 (through Zerodha)
15-Sep-2014 – Sell – Infosys – 150@3500 (through Zerodha)
Based on FIFO basis, the capital gains for sale of 150 shares will be based on the first 100 shares bought through and 50 shares bought through Zerodha. If you want to calculate capital gains broker-wise, you will need to open three portfolios, one for each broker. You can use Group feature to veiw the consolidated view of all these thre portfolios.