Tradeplus NRI Trading Review
Tradeplus is among the few brokers in India to launch an Online Trading facility for Non-Resident Indians (NRIs) in the year 2000. Tradeplus offers unique features called 4-in-1 accounts which include NRI Saving Bank Account, NRI Demat account, NRI trading account, and PAN Account. Tradeplus allows NRIs to open the NRO account without a PIS account. For NRI SB Account, the company has tied-up with HDFC, Axis, and Yes bank.
Lot of stockbrokers are not offering as many services offered by Tradeplus, they offer many special benefits to NRIs. There are plenty of benefits extended to NRI clients at Tradeplus when they trade in NRO mode. They are
- No PIS account required for NRO investments. It is made as easy as Resident Investments
- Avail flat brokerage on unlimited trading with futures and Options plan at Just Rupees 1499 per month
- Facility to execute BTST (Buy Today and Sell Tomorrow) and Intraday Trades
- Facility to buy in NSE with stock collateral and hold it for a maximum of 1 year under MTF
- Facility to get exposure of available cash and stocks under the following categories
- NRML ‐ Option to buy selective stocks up to 3 times and settle within Trade + 5 working days
- MIS ‐ Option to buy selective stocks up to 10 times for Intraday and
- MTF ‐ Option to buy stocks in NSE segment using stock collateral and hold them for a maximum of 1 year.
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.
Why Tradeplus for NRI Trading?
- Flat Brokerage Plan for F&O Trading.Zero Brokerage Trading in F&O @ just 1499/month
- More than 15 Years of experience of providing financial services to NRI Investors.
- No PIS bank account is required to trade incase they trade in NRO mode.No PIS Account , huge savings on PIS charges
- Trade Intraday like a Resident Indian
- Instant NRO account setup (Aadhar based) in 1 day
- You can cvail funding facility on Equity investments.
- Get Exposure and leverage
- ESOP Trading
- Dedicated relationship managers
- Advantage of a 4 in 1 account.
Tradeplus NRI Trading Account Advantage & Disadvantage
Positives
- Zero Brokerage Trading in F&O @ just 1499/month.
- No PIS Account , huge savings on PIS charges
- Dedicated relationship managers.
- Margin funding
- Referral Program
- Trade Intraday like a Resident Indian
Needs Improvement
- Call n Trade charges are very high.
- INFINI ‐ Trading platform is not free.
- SMS charges with monthly plans
- Lot of hidden charges
Tradeplus NRI Trading & Demat account opening charges:
| Particulars | Charges |
|---|---|
| Account opening fee ‐ per account* | Rs. 2500 + 450 (GST at 18%) |
| Life Time AMC valid for 10 years on Demat account inclusive of GST (not applicable for F&O accounts) & per account) | Rs. 2500 + 450 (GST at 18%) |
| Total | 5900 |
Tradeplus NRI Mutual Fund:
NRI investors at Tradeplus can invest in direct mutual funds through its online MF platform. The broker charges zero commission which results in 1.5% extra returns to NRIs. NRIs can also place conditional orders to purchase and redeem at the desired NAV.
Tradeplus NRI Brokerage charges:
Tradeplus brokerage charges vary by type of account and transaction type, Equity delivery charges for NRE account is 0.40% and NRO Account is 0.30%. the F&O charges are fixed @1499 per month
| Particulars | NRE ‐ Equity Cash | NRO ‐ Equity Cash | NRO ‐ F&O |
|---|---|---|---|
| Brokerage on volume * | 0.40% | 0.30% | Flat 1499 per month |
| GST on Brokerage @ 18% | 0.07% | 0.05% | 270 |
| STT on volume | 0.10% | 0.10% | Futures sell ‐ 0.01% on volume Options sell ‐ 0.05% of premium Option Exercised ‐ 0.125% on difference between the settlement price and strike price of option |
| Transaction Charges | 0.00% | 0.00% | Futures ‐ 0.0019%, Options ‐ 0.05% on premium value |
| SEBI Turnover Charges | 0.00% | 0.00% | 0.00% |
| Stamp Duty | Basis Indian Address proof / Tamilnadu | Basis Indian Address proof / Tamilnadu | Basis Indian Address proof / Tamilnadu |
| Clearing member Charges | NIL | NIL | Futures ‐ 0.0075% , Options ‐ 0.06% on premium value |
| Mutual fund investment | 0 | 0 | NA |
Tradeplus Demat charges for NRIs:
| Demat & Remat Charges | |
|---|---|
| Demat Charges NRI | Rs. 200/- per DRF (up to 5 Certificates)More than 5Certificates Rs. 30/- per certificate plus Rs. 200/- (Minimum Charges) |
| Remat Charges | Rs. 15/- per certificate for every hundred shares or part thereof Remat Charges subject to the maximum fee of Rs. 5,00,000 or a flat fee of Rs. 15/- Per certificate whichever is higher plus handling charges Rs. 50/- No rematerialization fee for Govt. Securities. |
| Conversion Request (Mutual Fund) Charges | |
| Conversion request charges for NRI Clients | Rs. 200/- per CRF |
| Transaction Charges | |
| Market Selling(Debits) other than Navia Markets Ltd. OFF Markets Debits & Inter Depository Debits | 0.04% of Transaction Value, subject to Minimum of Rs. 30/- Per Transaction |
| Inter Settlement Transfer | Rs. 15/- per Transaction for non POA |
| Failed Transaction | Rs. 15/- per Transaction |
| Pledge & Securities Lending and Borrowing | |
| Pledge Creation | 0.02% of the value of the securities pledged, subject to minimum of Rs. 50/- per Transaction. |
| Pledge Closure & Invocation | 0.02% of the value of the securities pledged, subject to minimum of Rs. 50/- per Transaction. |
| Securities Borrowing | Rs. 50/- per Transaction. |
| Modification Charges Rs. 100/- for every change of address / Bank Details | |
Tradeplus NRI Customer Care: Tradeplus NRI Desk contact number
- Tradeplus NRI Customer Care Number: +91 44 39189469 / 470
- Tradeplus NRI Customer Care Email ID : [email protected]
The Final Thoughts about Tradeplus NRI Services
Tradeplus has all the things to serve their NRI clients well from attractive fixed price brokerage plans for F&O Trading, Margin funding, all kind of trading platforms, MF Investment, BTST (Buy Today and Sell Tomorrow) under NRO accounts which is not available with any other stockbroker, The discount broker also offers a 4-in-1 account in collaboration with Yes, HDFC and Axis bank which makes trading more convenient but they are lagging mainly due to a lot of other charges perceived as hidden, Like very high call & Trade charges, charges for trading platforms.
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