FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
Fyers Free Account
Open Fyers account online and enjoy Free Equity Delivery, Flat ₹20/trade for F&O, and Intra-day. Avail special offer with us and Get Your AMC Waived Off Forever!In 2022, Fyers has introduced NRI trading services to allow NRIs to buy and sell shares in India. Fyers is among a few brokerage houses that have a dedicated NRI trading and investing portal to facilitate NRI Demat account opening with minimal paperwork requirements. NRI can open a demat and trading account with Fyers for free!
Check out how to start NRI Trading with Fyers like how to open Fyers NRI account, document checklist, does Fyers offer free Demat account, if not what are the NRI trading account opening fee, NRI trading brokerage charges, and more.
Whether you are a residents or NRI, you can open a 2-in-1 accounts; trading cum demat account with Fyers. Fyers NRI Trading account avail NRIs to trade or invest in stocks, equity futures and options, ETFs, and mutual funds. However, demat account is mandatory to open to keep securities in digitalized format.
Opening an NRI account is slightly different from account opening by residents. At very first, NRIs have to open a bank account in India and link it to their NRI trading account. All fund transfers (deposits and withdrawal) will be processed to the mapped account only.
NRIs can open two types of accounts; NRE or NRO account.
NRI trading account in India is further classified into two; PIS account and Non-PIS account. Portfolio Investment Scheme (PIS) is a mechanism by RBI for routing NRI investment in India. Fyers has partnered with 3 Indian banks HDFC, Axis, and Yes bank to allow NRIs to get a PIS approval letter from RBI to open a PIS Account.
NRI can have either NRE or NRO bank account for PIS account opening while for non-PIS account, they can map only NRO bank account.
NRIs can open two types of trading account to trade or invest in Indian market; NRI PIS account and NRI Non-PIS Account. Before opening a NRI account, spot the difference between these two accounts;
NRI PIS Bank Account | NRI Non PIS Bank Account | |
Meaning | PIS (Portfolio Investment Scheme) is a scheme of RBI to allow non-resident Indians to buy and sell shares in the Indian stock markets on a repatriation basis. | |
Repatriation facility | Money from PIS bank account is fully repatriable in foreign currency. | |
Segments | PIS account only allows equity delivery trading (investment in shares). F&O trading with PIS account is not permissible. | NRIs can map their NRO Non-PIS bank account to invest in share, F&O trading, IPOs, mutual funds, government securities, and debentures. |
Reporting | All transactions in NRE PIS account are reported to RBI. | No transactions in non-PIS account are reported to RBI. |
NRE or NRO | NRE or NRO account can be linked to open PIS account. | NRIs can open NRO Non-PIS bank account with any bank in India. |
Fyers NRI Trading Facts;
Opening an NRI account with Fyers is absolutely free with no account opening fees. Check the table below to know the account opening and annual maintenance charges applicable to Fyers NRI trading and demat accounts:
NRI Demat Account Opening charges | Free |
NRI Demat account maintenance fee (AMC) | Free |
NRI Trading Account opening charges | Free |
NRI Trading Account AMC | Free |
NRI account opening process with most of the brokers including Zerodha is completely offline. But Fyers took a step ahead by launching a dedicated NRI portal to enable NRI clients to complete most of the steps online by themselves.
NRI demat and trading account opening process with Fyers NRI Portal is online to a large extent and once the online process is done, you just have to send the documents to Fyers registered address.
Likewise residents, open an NRI account online at Fyers. The process to open an NRI trading and demat account is clear, simple, and straightforward.
Steps to open Fyers NRI trading and demat account online;
Once you have submitted the NRI Account Opening Form provided all submitted documents are correct, it may take up to 3 business days to open Fyers NRI Demat Account.
For PIS account opening, if you not yet obtained PIS permission letter, it will take additional 15 days to receive the PIS letter from RBI.
The online process is only available to open NRO Non-PIS Demat account. For PIS account opening, the process is still offline.
Below are the complete documents required to open an NRI account with Fyers;
Looking for the lowest NRI trading charges, Fyers comes out as the best broker as it offers the cheapest NRI trading services. In April 23, the discount broker has reduced the brokerage fee from Rs 100 to maximum Rs 50 per order for NRI clients. Check out the NRI trading charges with Fyers;
Fyers NRI Brokerage | |
Equity Delivery Brokerage | NRE or NRO PIS Account: Lower of 0.5% or Rs 50 NRO Non- PIS Account: Lower of 0.5% or Rs 50 |
Equity Futures Brokerage | Flat Rs 50 per order |
Equity Options Brokerage | Flat Rs 50 per order |
Note: F&O trading is only available to NRI clients on their NRO Non-PIS account.
Equity Delivery | Yes |
Equity Intraday | No |
Equity futures | Yes |
Equity options | Yes |
IPO | Yes |
Exchange-Traded Funds | Yes |
Mutual Funds | Yes |
NRI customers with Fyers may have doubt regarding whether are they allowed to apply for IPOs in India?
Yes, NRIs can invest in upcoming IPOs on Fyers trading platforms provided that the Fyers Demat account is linked to NRO Non-PIS account. While PIS account holding NRI customers are not eligible to invest in the IPO due to additional compliance requirements.
Yes, NRI can invest in mutual funds with Fyers through a non-PIS account. Thus, getting a PIS certificate from RBI is not mandatory for NRI mutual fund investment.
NRO non-PIS account holders with Fyers can buy any mutual fund scheme across fund houses. All purchased mutual fund units will be transferred or credited to the Fyers NRI Demat account.
NRI clients can check his mutual fund investment portfolio anytime on the Fyers app and web trading platform. NRIs from USA and Canada are not allowed to invest in mutual funds due to compliance regulations.
Know more on taxation on NRI mutual funds investment in India
Fyers is a technology-based discount brokerage house that has user-friendly trading platforms for NRIs. All platforms can be used for free with no platform fees. NRI clients also have access to Fyers Trading API.
Here are the reasons why NRIs should choose Fyers for trading and investing;
Despite low brokerage fee and dedicated NRI portal, there are some disadvantages of NRI trading with Fyers;
NRI customers can reach Fyers customer service either by email request or by calling the helpline number. Here are the details
NRI Customer care email | [email protected] |
NRI helpline number | 080-45699999 |
Note: You will receive a callback from the Fyers customer service team within 24 working hours.
Yes, Fyers discount stockbroker allows NRIs to open NRI Demat and NRI Trading accounts for free. NRI can invest in stocks and trade in equity futures & options by opening an NRO Non-PIS account. NRI clients at Fyers are charged a maximum of Rs 50 per traded order brokerage.
Zero charges, yes, Fyers provides free NRI account opening facility. There are no charges to open NRI Demat and NRI trading account at Fyers. The broker also does not charge any demat maintenance fee from NRI clients.
Yes, Fyers offers one of the best NRI demat accounts due to the following reasons;
Last Updated on 2024-01-08