• Top Stock Brokers in India ‐ Reviews, Comparison and Offers

Best Brokers for NRI Trading Services

Who are NRI and POI?

Non-Resident Indian (NRI) An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident.

As per Income Tax act to qualify to become NRI the person should stay out for >180days in a financial year or 365 days spread out over four consecutive years AND at least 60 days in that year.

A Person of Indian Origin (PIO) means a foreign citizen (except a national of Pakistan, Afghanistan, Bangladesh, China, Iran, Bhutan, Sri Lanka and/or Nepal), who:

  • at any time held an Indian passport OR
  • or either of their parents/ grandparents/ great-grandparents was born and permanently resident in India as defined in Government of India Act, 1935 and other territories that became part of India thereafter provided neither was at any time a citizen of any of the aforesaid countries (as referred above). OR
  • is a spouse of a citizen of India or a PIO

NRI's and PIO's can invest in equity shares, debt funds, mutual funds and IPO's in India. NRIs can also trade in Equity F&O at the exchanges like BSE, NSE, and MCX. NRI's are permitted by RBI to invest and trade in the India Stock Market through the PIS route and CP route.

Steps for opening NRI Share Trading Account (Open Demat Account NRI)

To trade in the stock market in India, NRI investor has to open 3 different accounts and link them together.

The NRI Equity Trading account includes:

  • A Bank Account , also known as NRI Account is to keep the money for trading. This account is opened with a bank. NRI needs approval by the RBI for open this account through the PIS route. Banks whom which you are opening the account usually takes care of it. Once you get the necessary approvals through the bank, you will be given the PIS (Portfolio Investment Scheme) Letter. This PIS letter is required to open the trading and demat account.
  • A Demat Account to hold shares. This account is opened with Depository Participant (DP).
  • A Trading Account , an account with the share broker which enables the NRI investor to execute the trade in the stock exchanges.
  • A Custody Account , if NRI is planning to trade in Equity Derivatives (F&O) segment. This account is to manage the settlements of all security transactions undertaken by the clients. This has to open with Custodial Participant i.e. IL&FS.

Here we come with "Best brokers for NRI Trading in India" :

Zerodha Zerodha started offering NRI Services @ Rs 200 per executable order for Equity and F&O. Zerodha NRI account. As of now, they are only servicing clients having PIS account with Axis or HDFC bank. Accounts in other banks will be served shortly. Intraday equity trading, currency trading, and Commodity trading are not allowed for NRI's.

Prostocks ProStocks NRI Investment Services include trading in equities, futures, and options on NSE and BSE at the cheapest brokerage of Rs 100 per executed order.

ProStocks NRI Account features include.

  • Trading and Demat Account Opening charges: Free
  • AMC for Trading Account: Nil (Zero)
  • Demat account AMC: Free with Rs 1000 refundable one time deposit.
  • Brokerage Charges: Rs 100 per trade (all segments).
  • Online EKYC, fill your form online.

ShareKhan Sharekhan offers NRI Investment Services to trade online on NSE, BSE, trade in mutual Funds on any of the trading platforms Sharekhan offered. :

FOR HDFC BANK (IN RS.)

FOR AXIS/INDUSIND/IDBI BANK(IN RS.)

Account Service Charge (Normal KYC)

2000

1000

Account Service Charge (For downloaded & Printed KYCs)

3000

2000

BROKERAGE:

  • Equity Transactions: 0.50%
  • Futures: 0.1% on the first leg and 0.02% on the second leg if squared off on the same day or 0.1% if square off on any other day.
  • Options: Rs.250 per contract note.

ICICI Direct ICICI offers a 3-in-1 account for NRI's to invest in India. This includes the seamlessly integrated Bank Account, Demat Account and Share Broking Account. This online account allows you to invest in Stocks, Mutual Funds, IPOs, Bonds, EFTs and trade in equity derivatives (futures and options) in India Stock Market.

ICICI NRI Account Charges:

  • ICICI NRI 3-in-1 Account Opening Charges: Rs 4000
  • ICICI NRI 3-in-1 Account Annual Maintenance Charges: Rs 1000 per year

ICICI NRI Brokerage Charges:

Segment

Brokerage Charges

Equity Delivery

1.25% to 0.50%

Equity Future

0.05% to 0.03%

Equity Options

Rs 95 to Rs 75

Kotak Securities Kotak securities offer NRI 3-in-1 Account (known as Trinity Account), a combination of Bank, Demat and Trading Account to provide you a seamless platform to trade and invest in India Stock Market.

Kotak Securities NRI Account Charges:

  • Kotak Securities NRI 3-in-1 Account opening charges: Rs 3750
  • Kotak Securities NRI 3-in-1 Account annual maintenance Charges: Rs 1000 per year
  • Kotak Securities NRI Demat Accounts maintenance Charges: Rs. 75 per month

Kotak Securities NRI Brokerage Charges:

  • 1% of the turnover or 10 Paise per share, whichever is higher

FAQs about NRI Trading :

  1. 1.Who is a non-resident Indian (NRI)? ?

    Non-Resident Indian (NRI) means a “person resident outside India” who is a citizen of India or is a person of Indian origin"(as per FEMA regulations).

  2. 2.Can NRI invests in shares in India through a stock exchange?

    Yes, NRI can purchase shares or convertible debenture of an Indian Company through stock exchanges, under the portfolio investment scheme on repatriation and /or non repatriation basis.

  3. 3.Are NRIs allowed to invest in Exchange Traded Funds (ETFs)?

    Yes, NRIs are allowed to Invest in Exchange Traded Funds (ETFs). NRIs can invest in ETFs both on repatriation as well as non repatriation basis.

  4. 4. How can NRIs invest in shares in India?

    As per Reserve Bank of India (RBI) guidelines, NRI who wishes to invest in shares in India through a stock exchange need to approach the designated branch of any authorized dealer (bank) authorized by reserve bank to administer the PIS (Portfolio Investment Scheme) to open a NRE (Non Resident External) /NRO (Non Resident Ordinary) account under the scheme for routing Investments.

  5. 5. What is a Portfolio Investment Scheme (PIS)?

    Portfolio Investment Scheme (PIS) is a scheme of reserve bank of India under which - Non Resident Indian (NRIs) can purchase/sell shares/convertible debentures of Indian companies on Stock Exchanges under Portfolio Investment Scheme. For this purpose, the NRI/PIO has to apply to a designated branch of a bank, which deals in Portfolio Investment. All sale/purchase transactions are to be routed through the designated branch.

  6. 6. Can two separate trading accounts namely (NRE & NRO) can be opened by NRI?

    Yes, clients can have two separate trading accounts based on NRE & NRO.

  7. 7. Can NRI do Intra-day transactions in cash segment?

    No, NRI Investor has to take delivery of shares purchased and give delivery of shares sold. Short Selling is not permitted.

  8. 8. Can NRI trade in futures & options segment of the Exchange?

    Yes, NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non repatriation basis, subject to the limits prescribed by SEBI.

  9. 9. Can NRI trade in Currency derivative segment of the Exchange?

    No, Only “a person resident in India” as defined in section 2(v) of FEMA Act 1999 are allowed to participate in currency derivative segment of the Exchange.

  10. 10. In case a person who is resident in India becomes a non-resident, will he/she be required to change the status of his/her holding from Resident to Non-Resident?

    As per section 6(5) of FEMA, NRI can continue to hold the securities which he/she had purchased as a resident Indian, even after he/she has become a non resident Indian, on a non-repatriable basis.

  11. 11. What are the brokerage charges of Zerodha for NRI customers?

    Incase of NRI customer account Zerodha charges a brokerage of 0.10% or Rs. 200 per executed order for equity (whichever is lower) and for Rs. 100 per order for F&O trade. Zerodha charges only Rs. 500 for opening NRI trading account.

  12. 12. What are the brokerage charges of ICICI Direct for NRI customers?

    ICICI Direct NRI brokerage charges depend on the monthly trading volume of the customer and vary from 0.50% to 1.25% for Equity delivery trades, from 0.03% to 0.05% for Equity Futures trades and flat Rs 70 to Rs 95 for Equity Options trading.

  13. 13. What are the brokerage charges of HDFC Securities for NRI customers?

    HDFC Securities NRI brokerage charges for Equity delivery trades is 0.75% or min Rs. 25 or ceiling of 2.5% on transaction value (Both Buy & Sell), 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) for Equity Futures trades and Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) for Equity Options trading

  14. 14. What are the brokerage charges of Kotak Securities for NRI customers?

     

    Kotak Securities NRI brokerage charges for Equity delivery trades is 1% of the turnover OR 25 Paise per share, whichever is higher or min Rs. 50 (per executed order), 1% of the turnover OR 25 Paise per share, whichever is higher for Equity Futures trades and for Equity Options trade

     
  15. 15. What are the brokerage charges of Sharekhan for NRI customers?

     

    Sharekhan NRI brokerage charges for Equity delivery trades is 0.50% of the turnover if your account is with Sharekhans Indian Branches and if your account is in Dubai Branch then the same would be 0.75% of the turnover, 0.1% on first leg and 0.02% on second leg if squared off on the same day or 0.1% if square off on any other day on Equity Futures trades and 250 per contract note for Equity Options trade.

     
  16. 16. What are the brokerage charges of Tradeplus for NRI customers?

     

    Tradeplus NRI brokerage charges for Equity delivery trades for NRE account is 0.40% and NRO Account is 0.30% of the turnover, the F&O charges are fixed @1499 per month.

     
  17. 17. What are the brokerage charges of Axis Direct for NRI customers?

     

    Axis Direct NRI brokerage charges for Equity delivery trades is 0.75% (Minimum Brokerage Rs 50 or 2.5%) of the turnover, 0.05% of the turnover for Equity Futures trades and 1 paisa/lot for intraday and Rs 10 / lot on carry forward position for Equity Options trade.

     
  18. 18. What are the brokerage charges of Reliance Smart money for NRI customers?

     

    Reliance Smart Money NRI brokerage charges for Equity delivery trades is 0.50% of the turnover, 0.05% of the turnover for Equity Futures trades and Rs.100/lot for Equity Options trade.

     
  19. 19.What are the brokerage charges of Prostocks for NRI customers?

     

    ProStocks is providing its NRI Service to client with Flat Rs 100 per executed order irrespective of the segment or size of the order. ProStocks supports 5 Banks for NRI Equity Delivery Trade which are Axis , HDFC , Indusind, Kotak & Yes Bank.