Best Brokers for NRI trading in India-2018
In this article we are listing best brokers for NRI trading in India.
NRI ("person resident outside India" who is a citizen of India or is a person of Indian origin), PIO or OCI card holders can trade in Indian stocks under Portfolio Investment Scheme (PIS).
NRI accounts are controlled both by SEBI and RBI, so there are some restrictions in NRI trading. NRI can trade only in equity delivery, no exposures, no short selling, no BTST (Buy today sell tomorrow), no Currency derivative trading. NRIs can invest in mutual funds and IPOs through NON PIS [NRE/NRO saving accounts].
With the recent amendment in FEMA regulation, NRIs can now invest in Equity Market like resident individuals. Earlier NRIs were allowed to invest in Equity market through a PIS account only. Now PIS account is required only if you have NRE Account by which you can repatriate (take out the funds out of the country) the sale proceeds.
NRI with NRO Account can trade in Equity Delivery as normal resident Indian. You just need to open a normal trading and demat account and link it with your NRO Saving Account.
NRI is no longer required to open PIS Bank Account for investment in Indian stock market without repatriation benefits.
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Read the Zerodha Review
Zerodha started offering NRI Services @ Rs 200 per executable order for Equity and F&O.Zerodha NRI account features are :
- Should have PIS Bank account with Axis or HDFC bank.
- Rs 200 Per executable order for Equity & F&O.
- By mapping your NRE account, you can only trade in the Equity segment whereas through an NRO account, you can trade in both Equity & Derivative segment.
- Detail article on Zerodha NRI Trading
Special Offer:100 Rs off on account opening fee for limited time. Sign up now
Read the ProStocks Review
ProStocks NRI Investment Services include trading in equities, futures, and options on NSE and BSE at the cheapest brokerage of Rs 100 per executed order. ProStocks NRI Account features include.
- Trading and Demat Account Opening charges: Free
- AMC for Trading Account : Nil (Zero)
- Demat account AMC : Free with Rs 1000 refundable one time deposit.
- Brokerage Charges :Rs 100 per trade (all segments).
- Online EKYC, fill your form online.
Special Offer:Free Life time Demat AMC & Trading AMC for limited time.Sign up now
Read the Sharekhan Review
Sharekhan offers NRI Investment Services to trade online on NSE, BSE,trade in mutual Funds on any of the trading platforms Sharekhan offered. Sharekhan NRI account features are:
- Integrated RBI-approved bank account with HDFC Bank.
- Research report for every asset class, single location for Trading & Demat account.
- Real time portfolio tracking, fast trading platform, secure transactions.
- Seamless transactions and Paper free trading.
Read the Geojit Review
Geojit BNP(GBNPP) have branch offices in Kuwait, Oman, Dubai, Saudi Arabia, Kuwait or Oman and providing NRI service to invest in India Market. They have joint venture with local group and providing service to NRI customer to invest in local market as well as Indian stock market. Geojit don't have any office in US or support US persons or US investors via their platform.
Read the HDFC Securities Review
HDFC Securities NRI Offering- With 3-in-1 account,Bank, Trading and Demat HDFC Securities is offering seamless and hassle free trading for NRI's
- 3in1 account is one key advantage
- Tax Reports,Paper free trading
- USA and Canada base can't open 3in1 account with HDFC.
Read the Kotak Securities Review
Kotak Securities' NRI account gives you the power to buy equities, futures or options, and transferring funds between accounts.Basic Features of the NRI Account are:
- Transfer funds safely via net-banking between your savings bank and trading accounts using the Kotak Payment Gateway.
- Investment option in IPO, ESOPS, bonds, derivatives and ETFs through seamless 3 in 1 account.
- Free access to Kotak's trading software and mobile app.
- Reserch report,SMS alerts,CallnTrade and more.
Process to open a NRI trading account:
- Need to open RBI-approved bank account, PIS(Portfolio Investment Scheme) approval require.
- Client can trade only with one bank account.
- Trading & Demat account opening forms with brokers using KYC 'Know Your Client' guidelines.
- This process can be done only when person is in India for visit because Passport and Visa copies are mandatory.
Document required to open a NRI account:
- Indian Passport or Foreign passport with place of birth as India accompanied with PIO/OCI card.
- If on Indian Passport then Valid Visa.
- PIS permission letter from RBI approved bank & Bank Account details.
- PAN card.
- Overseas Address Proof - driving license/Bank Statement/Lease paper.
- Indian Address Proof (Aadhar Card/Voter ID/Driving License/Bank Statement/Utility bill)
- Latest photographs of applicant.
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