Zerodha opened its doors for NRIs to trade in India. The NRI Brokerage Charges for Equity Delivery is of Rs 200 or 0.1% whichever is lower. For F&O Delivery Trades Charges are Rs 100 per order. As of now, they are only servicing clients having an NRE / NRO account with Axis, Yes or HDFC bank. Equity and F&O Intraday, Currency and Commodity trading is not allowed for NRI's. The stock holding of an NRI can't exceed 10% in an 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 has tied up with IL&FS for custodial business. IL&FS assign CP for Zerodha NRI clients. All the funds for trading F&O will sit with the custodian, like how all your funds for trading stocks sit with your bank.
Steps to open Zerodha NRI account -
List of documents required to open Zerodha NRI account -
NRI account opening charges are same as Resident India. Rs 200 for Trading Account + Rs 100 for Demat account. The Demat AMC is Rs 300 PA.
Zerodha NRI Brokerage Charges - Rs 200 or 0.1%, whichever is lower for Equity Delivery & Rs 100 per order for F&O
There is daily reporting requirement from RBI on NRI (NRE/NRO) Trading account, so that’s the restriction with brokers to tie up with specific banks. Currently, Zerodha supporting Axis Bank, Yes Bank, and HDFC Bank. So if you have a NRE/NRO account with any of these banks, you can open NRE/NRO Trading/Demat account.
Yes, NRI can apply in an IPO. Zerodha is not providing an online platform for IPO investment. This needs to be done via ASBA (Net banking facility of your Bank), with Zerodha DP account information. But to answer your question, Yes, NRI's can apply in an IPO.
Currently, Zerodha Coin is not available for NRIs. The US/Canada based NRI’s cannot buy MF via Zerodha Coin Platform. The USA/Canada has some compliance and regulation issues. In other countries also this service is not active.
Yes, NRI can open 2 separate accounts - NRE Trading Account and NRO Trading Account.
Yes, you can move your existing resident trading account to NRO trading account. You need to do the paperwork to close your existing resident trading account. Submit an account modification to convert to NRO 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.
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.
To do NRI trading in India Stock Market, you can open NRO bank account and opt for NRO Investment account. You can convert your existing resident account to an NRO trading account.
NRI can trade in Equity Delivery and Equity F&O segment. If you wish to trade in F&O (Delivery only), you need to get Custodial Participant (CP) code. For a custodial account starting portfolio size is Rs 50 lakh.
In summary, doing equity delivery trading is an easy process, to do F&O delivery trading is a bit complex process.
Last updated on 12th May 2019
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.