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Zerodha NRI Trading Review 2024

Rated 4.5/5 by InvestorGain Team
Zerodha NRI Trading
  1. The Pioneer Discount Broker
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

Get the complete review on Zerodha NRI trading like why to choose Zerodha, how to open Zerodha NRI Demat account, is Zerodha NRI account opening free, what are the brokerage charges levied on NRI trading, segments available for trading to NRI clients, and more.

Zerodha, India’s leading discount broker offers NRI trading services. NRIs who wish to invest in the Indian market can open a NRI demat and trading account with Zerodha. If you are a NRI and looking to open a trading account in India then we’ve got you covered here.

To start NRI trading with Zerodha, it is mandatory to open the below types of accounts;

Zerodha NRI Bank Account

Opening a NRI bank account is the first step of NRI account opening journey. NRIs can open two types of accounts either NRE (Non-Resident External) or Non-Resident Ordinary (NRO) bank account. NRE is an external account while NRO account acts like a regular saving bank account for NRI customers. There are different rules relevant to repatriation for both the accounts.

NRI with NRE account can transfer his foreign currency income and convert it into Indian rupees for investment. All deposits in the NRE account is fully repatriable in foreign. Unlike it, NRI cannot withdraw money from NRO account into foreign currency thus, NRO account has repatriation restrictions.

Zerodha has partnered with 5 Indian banks including HDFC, IndusInd, IDFC First Bank, Yes Bank, and Axis Bank to help NRIs to obtain Portfolio Investment Scheme (PIS) letter from RBI. NRI can open NRE-PIS or NRO-PIS account with any of these 5 partner banks to open NRI PIS account.

For Non-PIS NRI trading account, NRIs have flexibility to open NRE or NRO account with any domestic bank.

Zerodha NRI Trading Account

Trading account allows NRIs to buy and sell securities across the Indian exchanges; BSE and NSE. NRI account in Zerodha can be opened through PIS or non-PIS route, thus, obtaining a PIS permission letter from RBI is no more mandatory for NRI clients to trade in India. Zerodha NRI Trading account enables NRI clients to trade in equity delivery and equity derivatives segment.

If you want to open NRI PIS trading account, you can open either NRE or NRO account with Zerodha’s partner banks and get PIS permission letter. However, Non-PIS trading account can only be opened with NRO account. The brokerage charges on Non-PIS NRI account is comparatively lower than PIS account. NRIs with non-PIS account can buy and sell shares, debentures, IPOs, and mutual funds.

NRIs are only allowed to trade in F&O by opening a custodial account. Orbis is Zerodha’s custodian partner to help NRI clients to obtain a custodial participant (CP) code.

Zerodha NRI Demat Account

Trading on stock exchange requires residents as well as NRIs to open a Demat account.

Zerodha is depository participant with CDSL to provide demat account opening facility to customers. NRI demat account acts like a regular Demat account for Residents as it enables NRI clients to keep shares and securities in electronic or dematerialized form.

NRI clients can link his NRE or NRO account to Zerodha NRI Demat account so that any funds withdrawal or dividend or interest gets credited directly to the NRI bank account. NRI can link an NRI or an Indian resident as nominee.

Zerodha NRI Account Opening Charges

Particulars Charges
NRI Trading Account Opening Charges Rs. 500
NRI Trading Account AMC Free
NRI Demat Account Opening Charges Free
NRI Demat Account AMC Rs. 500 + 18 % GST

How to open Zerodha NRI Demat Account?

NRIs can open offline account with Zerodha as unlike residents, the broker does not allow NRIs to open an online account. Do you want to open NRI account in Zerodha? If yes, check out the complete process;

  1. Open a NRI Bank account, you have flexibility to open NRO non-PIS account with any Indian bank while NRE or NRO PIS account can only be opened with Zerodha partner banks (HDFC, Axis, IDFC First, Yes, and IndusInd Bank)
  2. For PIS NRI account, get a PIS letter from RBI.
  3. For NRI Derivative trading, open a custodial account and get a CP Code from ORBIS
  4. Now, get the Zerodha NRI Account Opening form from its official website.
  5. Fill out the details, choose the account type as “NRI” and sub-type between NRI Repatriable or NRI Non-Repatriable.
  6. Enclosed it with notarized supporting documents required for NRI account opening.
  7. Scan the duly filled NRI account form and documents and send it to Zerodha NRI email address [email protected] for verification.
  8. Once email verification is completed, courier all the documents to Zerodha’s Bangalore address.

The NRI account opening process at zerodha may take upto 5 working days to activate your NRI trading account.

Zerodha NRI Account Opening Documents

To open Zerodha NRI Account, you have to submit the following documents;

  1. Copy of PIS permission letter
  2. Copy of PAN card.
  3. FEMA declaration to Zerodha Broking Limited.
  4. Indian Address Proof.
  5. Overseas address proof – foreign passport, electricity bill, bank statement, rent agreement, driving license, etc.
  6. Passport size photo of the applicant.
  7. Bank account proof i.e. canceled cheque leaf, latest bank statement, or other.
  8. FATCA declaration form.

Note: All of the above documents must be self-attested and notarized by any competent authority i.e. Indian embassy, authorized officials of overseas branches, court magistrate, consulate general, etc. The authority must affix the original stamp, designation, name, date, and signature on the documents.

Zerodha NRI Trading Brokerage Charges

Segments Brokerage on NRI trading
Equity Delivery (CNC) Brokerage
  • PIS Account: Rs. 200 per or 0.5% per order (whichever is lower)
  • Non-PIS Account: Rs 100 or 0.5% per order (whichever is lower)
Equity Futures brokerage Flat Rs. 100 per order
Equity Options Brokerage Flat Rs. 100 per order

Apart from brokerage, likewise residents, NRI clients are also charged with clearing charges, exchange transaction charges, STT, etc. 18% GST is charged on the total of brokerage cost, SEBI charges, STT, and transaction charges.

Zerodha NRI charges comparison with other Brokers

After knowing the NRI trading charges, the next question is does Zerodha charge lowest brokerage from NRI?

Unfortunately, the answer is No as there are many other popular discount brokers in India who charge comparatively less brokerage from NRIs. Fyers, one of the fastest growing discount broker has the lowest fee on NRI trading at a lower of 0.5% or Rs 50 per order. It doesn’t even matter whether you have mapped PIS account or Non-PIS account to the Fyers trading account, as the brokerage fee will be still same to maximum Rs 50 per traded order.

Angel One charges a lower of 0.50% per executed order or 0.05 per unit, whichever is lower on investment in shares from NRIs. Further, Prostocks charge flat Rs 100 per order brokerage fee regardless of the type of NRI trading account be it NRE PIS Account or NRO Non-PIS account.

Segments available for Zerodha NRI Trading

Particulars NRI Trading Segments
Equity Delivery Yes
Equity Intraday No
Equity futures & options Yes
Commodity trading (MCX) No
Currency trading No
IPO Yes
Mutual Funds Yes

Zerodha NRI IPO Apply

If the NRE or NRO bank account is linked to the virtual UPI, NRIs can apply for IPO with Zerodha through Kite platform. The process to invest in IPO online using UPI is the same as that of the resident.

If your bank doesn’t support UPI with your NRE or NRO bank account, you can purchase IPO through the ASBA process. Here, NRI can invest in IPO through the net-banking portal and provide details of NRI Demat account in Zerodha to keep shares in digital format.

Zerodha NRI Mutual Fund

Can NRI invest in mutual funds on Coin? The answer is “Yes”.

NRIs who have opened a NRO non-PIS NRI account in Zerodha can invest in mutual funds through Coin platform. They can choose among hundreds of mutual funds schemes across different mutual funds houses for investment without any restrictions.

However, US and Canada based NRI investors and NRIs having PIS account are restricted to invest in mutual funds on the coin platform.

Zerodha NRI Smallcase

Smallcase is a basket of several stocks from a particular theme, sector, or investment idea. NRIs are allowed to invest in smallcase with Zerodha.

Regardless whether you opened a NRO Non-PIS account or NRE PIS account in Zerodha, you can invest in your choice of smallcase with the stockbroker.

You have to pay one-time fee of Rs 100 + GST on purchase of any smallcase product. All investment will be held in the Zerodha Demat account and visible in the Kite holdings.

Zerodha NRI Trading Platforms

Zerodha has a wide range of trading software and tools that are available to use by residents as well as NRI customers. An indicative list of Zerodha platform includes;

  • Zerodha Kite web trading platform.
  • Kite Android and iOS mobile app
  • Console reporting backoffice
  • Zerodha Coin mutual fund platform

Additionally, Zerodha also offer some third-party platforms and tools to its clients to provide them effortless investing experience. Click on the platform to know more.

  • Zerodha Streak Algo trading platform
  • Zerodha Sensibull
  • Zerodha Sentinel market alerts
  • Zerodha smallcase
  • Zerodha Stockreports+

Zerodha NRI Trading Cons

  • NRIs cannot open a 3-in-1 account with Zerodha.
  • The discount broker does not provide trading tips, research, and investment recommendations.
  • NRIs cannot do intraday and BTST trading.
  • NRIs are not allowed to trade in commodity and currency derivatives.
  • NRIs cannot buy mutual funds and Govt securities on Zerodha Coin with PIS account.
  • Does not have an installable desktop trading terminal.

Zerodha NRI Customer Care

Zerodha NRI Help desk 91 80 4718 1888
Zerodha NRI Customer support email [email protected]
Request call back from Zerodha

FAQs

Yes, Zerodha allow NRIs to open a 2-in-1 account including Zerodha NRI Demat Account and Zerodha NRI Trading account to trade or invest in India. Zerodha NRI trading account enable NRI customers to purchase and sale securities or shares listed on NSE and BSE platforms.

 

 

NRI trading charges vary as per the account type.

  • For a Non-PIS account, the brokerage charge for equity is 0.5% or 100Rs per executed order whichever is lower.
  • For a PIS account, the brokerage charge for equity is 0.5% or 200Rs whichever is lower.

For futures and options, the brokerage charge is 100 Rs. The govt taxes and charges will be applicable as any Resident Indian account.

 

 

You can open an NRI(PIS and NON-PIS)  account with Zerodha but in offline mode only.You have to contact Zerodha NRI desk at +91-080 4719 2020. Or you can also raise a ticket to open the same via Zerodha Support Portal.

NRIs can open Zerodha 2-in-1 account; Demat and trading account and start online trading in equity delivery and futures & options.

Steps to open Zerodha NRI Demat Account

  • Open either NRE or NRO savings bank account with IndusInd, Axis, HDFC, or IDFC First Bank.
  • Get a PIS letter from RBI
  • If you want to trade in derivatives then, obtain a CP code.
  • Fill the Zerodha NRI Account Opening Form (AOF).
  • Collect copies of all the mandatory documents that Zerodha requires.
  • Notarized all the documents.
  • Send filled NRI form and supporting documents to Zerodha over mail.

 

 

GTT is the product feature, which helps you put a future target and stop loss for your trades. NRI can also use this feature to put stop loss or targets to their holdings.

The validity of your GTT order stands for a year.

 

 

No, Zerodha doesn’t allow NRIs to trade in commodities(MCX) and currency. NRIs are allowed to invest in equity, and mutual funds. They can’t trade in MCX and currency derivatives.

 

 

Yes, you can invest in Mutual funds through Zerodha COIN. Only NRI-Non PIS account holder can invest in Mutual funds though Zerodha. NRI-PIS account holder can’t invest through COIN.

 

 

As an NRI, you must be interested to know that is Zerodha good for NRI trading. Here are some reasons on why to choose Zerodha for NRI account opening.

  • Opening NRI Account through PIS or non-PIS account
  • Open NRI 2-in-1 account; Demat and Trading account
  • Flat and competitive brokerage; Max Rs 200 (for PIS account) and Rs 100 (non-PIS account).
  • Invest in equities or trade in equity derivatives segment
  • Best-in-class trading software and tools
  • Open a PIS account with partner banks
  • Dedicated NRI service desk
  • Advanced orders like Aftermarket order (AMO) and Good Till Triggered (GTT) order
  • Invest in G-secs or mutual funds using non-PIS NRI account

 

 

Yes, NRIs can apply for IPOs through Zerodha. The application process is same as any Resident Indians.

IPOs can be applied through Zerodha -Console using your UPI ID. Now you can also apply the same from your Kite page too.

You have to apply by providing the virtual UPI ID of the NPCI-supported UPI apps. You can check the list here.

 

 

You can download the NRI account opening form from Zerodha’s official website. Follow the steps mentioned below.

  • Visit com/resources.
  • Click on “Application form-Individual”.

Now you can download the application form. Please add our referral code in the form as "ZMPWQL"

 

 

Unlike regular Demat account for residents, NRIs cannot open Demat account online. The discount broking house allows NRIs to open a trading cum demat account offline.

To open NRI account, you have to send the duly filled and signed NRI account opening form along with the supporting documents to the Zerodha’s head office address. Once details are verified, your account will be activated and enable to start investing journey.

 

 

Last Updated on 2024-03-28