Zerodha, the leading online Discount Broker, opened its doors for NRIs to trade in India. NRIs can trade in delivery based equities and equity futures and options in India. However, Intraday trading on equity/stocks and currency and commodity trading is not allowed to NRIs in India. Also, stock holding of an NRI can't exceed 10% in any Indian listed company.
For NRI trading with Zerodha, one need to have
As a Non-Resident, both NRE & NRO account could be open simultaneously, however, only one account can be mapped to your Demat & Trading account. By mapping an NRE account, you can only trade in the Equity segment whereas, through an NRO account, you could trade in both Equity & Derivative segment.
NRI brokerage charges for equity delivery is Rs 200 or 0.1% whichever is lower. Equity F&O is charged at Rs 100 per order. As of now, they are only servicing clients having NRE / NRO account with Axis, Yes or HDFC bank.
If you want to trade F&O as an NRI, you have to get a custodial Participant (CP) code. Then you can trade F&O Intraday or positional. Zerodha has a tie-up with ORBIS for custodial business. All the funds for trading F&O sit with the custodian, like how all your funds for trading stocks sit with your bank.
If you don't have a valid Indian contact number. Please contact us via our contact us form and we will forward your request to Zerodha team.
An NRE account is a bank account where both the principal and the interest earned can be repatriated. An NRO has restricted repatriation. For trading in futures and options, an NRO account is required to be linked to your trading account. You can also convert your existing resident account to an NRO trading account.
you need to get Custodial Participant (CP) code to trade in equity F&O. For a custodial account, the minimum portfolio size is Rs 50 lakh.
NRI trading with Zerodha or any other broker has the restrictions and conditions applied. NRE and NRO Accounts need to be open with all the paperwork and formalities. Also, there are restrictions of trade for NRIs. Not all segments are open for them to trade on. Also, one needs to understand the NRE and NRO account types and choose the one that suits your trading preference and repatriability.
Last updated on 30th Jul 2019
Steps to open Zerodha NRI account-
Points to be noted-
List of documents required to open Zerodha NRI account -
NRI account opening charges are same as for resident Indians. It is Rs 200 for Trading Account and Rs 100 for Demat Account. There is no trading account AMC. The Demat AMC is Rs 300 PA.
Zerodha NRI Brokerage Charges is Rs 200 or 0.1%, whichever is lower for Equity Delivery & Rs 100 per order for F&O.
There is daily reporting requirements from RBI on NRE/NRO trading account, so that is the reason why Zerodha has tie up with only specific banks. Currently, Zerodha is supporting NRE/NRO trading accounts linked with Axis Bank, Yes Bank, and HDFC Bank only. So if you have a NRE/NRO account with any of these banks, you can open NRE/NRO Trading/Demat account with Zerodha.
NRIs can apply in IPO but not directly with Zerodha. This needs to be done via ASBA (net banking facility of bank), with Zerodha DP account information. But to answer your question, yes, NRIs can apply in IPO.
Currently, Zerodha Coin is not available for NRIs. The US/Canada based NRIs cannot buy MF via Zerodha Coin platform due to some compliance and regulation issues. The service is not active for other countries as well.
Yes, NRIs can open two separate accounts - NRE Trading Account and NRO Trading Account.
Yes, you can either convert or move your existing Trading & DEMAT account to an NRO trading & DEMAT account or close your resident account and open a new NRI account. You are not allowed to convert an individual resident account to an NRI-NRE account. Documents required to convert your resident trading account to NRO account are as follows-
In case you want to update your account to the NRI (NRE) account, you need to close your existing resident account and open a new NRI (NRE) trading account. Share transfer between resident account and NRI (NRE) account is not possible.
Yes, you can convert your existing account to NRO Account. If you are planning to stay outside of India for more than 6 month your status convert to NRI.
1: You can transfer your existing residential account to NRO demat and trading account only. NRE Trading account is not supported in such case.
2: Document and forms required to switch the account:
3: As NRI – You cannot invest in Mutual Fund with Zerodha, So if you have existing MF with Zerodha coin, you need to redeem them or need to transfer to another account.
Download forms –Link.