Posted on 22nd Oct 2015
Zerodha opened its doors for NRIs to trade in India @ Brokerage of Rs 200 /executed order for both Equity & F&O. As of now they are only servicing clients having PIS account with Axis or HDFC bank. Accounts in other banks will be served shortly. Intraday equity trading, currency trading and Commodity trading is not allowed for NRI's. Stock holding of an NRI can't exceed 10% in any Indian listed company.
If you want to trade F&O as an NRI you have to come through the custodial route. Then you can trade F&O for intraday or positional. For that you have to get a Custodial Participant (CP) code. Zerodha have tied up with IL&FS for custodial business, and hence this CP code is assigned by IL&FS. Once you have the CP code, all the funds for trading F&O will sit with the custodian, similar to how all your funds for trading stocks sit with your bank. A typical starting portfolio size for a custodial account is Rs 25 lacs.
If you don't have valid Indian contact number, please contact us via our contact us form and we will forward your request to Zerodha team.
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