Posted on 22nd Oct 2015
Rated 4.5/5 based on 12 customer reviews
Zerodha opened its doors for NRIs to trade in India @ Brokerage of Rs 200 or 0.1% whichever is lower for Equity Delivey & Rs 100 per order for F&O. As of now, they are only servicing clients having NRE/NRO account with Axis, Yes 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. 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, 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 50 lakhs.
To open NRI account with Zerodha, please find steps below
To open NRI account with Zerodha, please find documnent list below
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.
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 IPO, as Zerodha is not providing an online platform for IPO investment, so 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 IPO.
No, US/Canada based NRI’s cannot buy MF via Zerodha Coin Platform because of some compliance and regulations in the USA. For 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 paperwork to close your existing resident trading account and account modification to convert to NRO account. Document required to convert your resident trading account to NRI account are listed below –
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.
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.