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Best Brokers for NRI Trading in India 2022


Best Brokers for NRI Trading in India 2022

Best Brokers for NRI Trading in India 2022: Indian market has always become a preferred choice among overseas NRI investors due to its strong long-term growth potential, which leads to growing NRI trading in India. Indian stockbrokers are leveraging various NRI trading services such as a 3-in-1 NRI Trading Account (NRI Demat + NRI Trading + NRE or NRO Bank A/c), Zero NRI Demat AMC, Low NRI trading brokerage, and dedicated NRI customers’ service desk. NRI customers can open an NRI trading account with full-service brokers or discount brokers, however, each type of broker has its pros & cons. The article ranks the best NRI trading account in India, NRIs can consider recommended stock brokers to open NRI trading account.

NRI Trading Account

To invest in the Indian stock market, NRIs must open an NRI Trading Account that allows them to trade or invest in shares, F&O, mutual funds, bonds, etc. Thus, the trading account for NRI facilitates them to execute all the stock market transactions in the equity delivery, F&O, and currency derivatives segments, however, NRI customers are not allowed to trade in equity intraday and commodity segment. Along with a trading account, they need an NRI Demat Account and an NRI Bank account.

  1. NRI 3-in-1 Trading Account: This is an integrated account of NRI Demat, NRI Trading, and NRI Bank account. The 3-in-1 trading account is the most convenient platform to trade smoothly and in a hassle-free manner. Most top full-service brokerage firms who have banking licenses like ICICI Securities, Axis Securities, HDFC Securities, and SBI Cap Securities avail 3-in-1 NRI trading account openingfacility.
  2. NRI 2-in-1 Account: 2-in-1 account means NRI Trading & Demat Account, however, most popular discount brokers who are not a part of any banking group such as Zerodha, ProStocks, etc. offer only NRI 2-in-1 account opening services, and NRE or NRO bank savings accountwith PIS letter must be opened with any bank.

Best NRI Trading Account in India 2022

NRI Full-service brokers offer NRI trading with many add-on features; dedicated NRI relationship manager, dedicated NRI service desk, Portfolio Management Services (PMS), call & trade, Good-till-cancelled (GTC) order, research & recommendations, and therefore charge comparatively high brokerage rates. Unlike this, NRI Discount brokers offer only NRI Trading & Demat Account as a platform to start online trading & investment in shares, mutual funds, equity F&O, currency F&O, bonds, etc. Due to the limited range of services, they offer comparatively low NRI trading brokerage plans and save NRI trading costs. Which broker is the best for NRI trading?, only be answered considering the requirements of NRI clients. If the brokerage is the selection criteria, discount brokers are the best option who charges the lowest NRI Trading brokerage. Unlike it, to avail a complete NRI trading service solution, and get personalized NRI services, opt for full-service brokers.

Below is the checklist of the Best Brokers for NRI trading in India 2022, along with the brokerage charges comparison field. Select the right broker keeping in mind your trading & investing needs.

Best Brokers for NRI Trading in India 2022

Broker Reason Review Request Callback
ProStocks

ProStocks NRI Investment Service includes trading in equities, futures, and options on NSE and BSE at the cheapest brokerage of Rs 100 per executed order. ProStocks NRI Account/NRO NON PIS 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.

Prostocks is first broker in India who is offering Online NRI trading account. For more visit visit "How can NRI open an online trading account (NRO NON PIS Trading Account) in India" page.

ProStocks ReviewOpen Account
Zerodha

Zerodha offers NRI Trading Service with NRE as well as NRO Saving Account. With NRE saving account, cleint need PIS Account. Where with NRO saving account, clients can use Non PIS Trading account. For NRO Non PIS account the brokerage is Rs 100 per executed order (Equity, Equity Derivative), where with PIS account its 0.1% or Rs 200 per executed order for equity (whichever is lower).

  • For NRI Trading Account - Should have PIS Bank account (when having NRE account) with Axis or HDFC bank or NRO Saving account.
  • By mapping your NRE account, you can only trade in the Equity segment whereas, through an NRO account, you can trade in both Equity and Derivative segment.

Detail article on Zerodha NRI Trading

Detail article on Zerodha NRO Non PIS Account

Zerodha ReviewOpen Account
ICICIDirect

ICICI Direct 3-in-1 NRI Account is a one-stop-solution or the best NRI Trading platform for NRIs to invest in India from anywhere in the world. ICICI NRI 3-in-1 account serves the following benefits to NRIs;

  • Multiple product offerings i.e., equity & ETF, MF, IPO, F&O, and bonds.
  • 3-in-1 account opening i.e. Demat + Trading + NRE or NRO Bank saving account.
  • Research & recommendation services to NRI.
  • Real time portfolio tracking.
  • Dedicated NRI Customer service desk over telephone and mail.
  • NRI Customer base of 5 million+ customers across 150+ countries.
ICICIDirect ReviewOpen Account
Kotak Securities

Kotak Securities NRI 3-in-1 account, Trinity account is an integrated account that offers seamless trading & investment experience to users. Here are the key services offered by Kotak Sec to NRI clients;

  • Open NRI Demat + Trading + NRE or NRO bank account.
  • Invest in equity, F&O, IPO, MFs, and fixed income products.
  • Advanced orders like GTC and AMO order.
  • Free access to all advanced trading platforms; website, Stock Trader App, and KEAT Pro X software.
  • Trade on phone facility.
  • Get in-depth stock market research from experts.
  • Kotak University, a financial education platform to learn about stock market, trading, and other financial topics.
Kotak Securities ReviewOpen Account
HDFC Securities

HDFC Securities 3-in-1 NRI Investment Account is an integrated platform for NRI Demat + Trading + NRI Bank Saving Account. The 3-in-1 NRI Trading Account offers the following features;

  • Invest in shares listed on the BSE & NSE, F&O, MFs, IPO, ETF, and Bonds.
  • Multiple Investment platforms; Pro Terminal, mobile trading app, trading website, and Blink trading terminal.
  • NRIs are allowed to place orders even after market hours.
  • Experts research insights to make educated investment decision.
  • HDFC Securities dedicated NRI helpdesk, NRI Dealing Desk, and NRI Fax Centre.
HDFC Securities ReviewOpen Account
IIFL Securities

IIFL Securities offers NRI Demat & Trading account opening facility to customers and provides the below NRI trading features;

  • Multiple products; equity trading, derivatives, mutual funds, PMS, AIF, IPO, and Bonds.
  • Dedicated NRI relationship manager services.
  • Open NRI Demat account online through video verification process.
  • All kinds of trading platforms; IIFL Trader Terminal, Trader Terminal Web, IIFL Markets App, and IIFL Mutual Fund App.
IIFL Securities ReviewOpen Account

Best NRI Trading Account in India 2022 – Final Remarks

Prostocks is ranked as the best NRI Trading Account in India with the lowest NRI brokerage fee of Rs. 100 per trade. It is rated as the top broker for NRI because of the quick and hassle-free account opening process, free NRI Demat & Trading A/c, Zero NRI Demat AMC, flat brokerage model, and advanced trading platforms. Zerodha is another popular NRI discount broker in India while ICICI Direct, Kotak Securities, and HDFC Securities are the other most popular and recommended NRI full-service brokerage firms.

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FAQs

As per the regulations, NRI customers are allowed to trade in the following segments;

  1. Equity delivery: Holding shares in the NRI Demat Account or investment in Indian company’s shares.
  2. Equity Futures & Options derivative segment.
  3. Currency F&O segment.

NRIs cannot trade in equity intraday and commodity derivative segment.

 

ProStocks is the best broker to open NRI Demat & Trading Account in India. It is the top broker for NRI due to the following reasons;

  • Hassle-free online NRI Account opening process.
  • Zero NRI Demat AMC Account.
  • Free NRI Trading & Demat Account facility.
  • Cheapest brokerage on NRI trading at Rs. 100 per executed order.
  • All kinds of trading platform; free mobile trading app, website, and installable trading terminal.
  • NRI customer support over e-mail and telephonic support.

 

Zerodha avails the facility to open an NRI 2-in-1 account while NRIs have to open a bank account with any bank like IndusInd, Axis, HDFC, ICICI, etc. Zerodha has an attractive NRI Flat brokerage plan of Max Rs. 200 per order which makes Zerodha an excellent choice for NRI Trading. Zerodha NRI account allows online trading in equity delivery, equity F&O, and currency segment, however, the broker doesn’t provide a mutual fund investment facility to NRI customers.

 

Prostocks offers the cheapest NRI trading services to NRI customers. The online discount brokerage firm follows a flat brokerage model at Rs. 100 per order brokerage on all NRI trades regardless the actual trading volume.

 

Yes, NRI can open NRI 3-in-1 account; NRI Demat + NRI Trading + NRI Bank Account and invest in shares listed on the Indian stock exchanges like BSE and NSE. Thus, they can hold all the shares purchased through NRI Trading Account in the NRI Demat Account. Here, to trade on repatriation basis, NRI must open a NRE bank account and gets PIS approval from RBI however, to trade on nom-repatriation basis, they can open NRO bank account. NRI customers can also hold shares received in the form of gift purchased in the capacity of Indian resident.

 

To start trading in Indian market, NRI must open the following accounts in India;

  1. NRE or NRO Bank Saving Account with PIS letter from RBI
  2. NRI Demat Account
  3. NRI Trading Account

 

There are two types of brokers who offer NRI trading services in India include full-service brokers and discount brokers. Which is the best NRI broker depends upon an individual’s requirements. Full-service brokers offer a complete solution to NRI clients including personal relationship manager, NRI service desk, PMS, research recommendations, etc. However, discount brokers provide NRI trading at the lowest flat brokerage model i.e. Max Rs. 200 per order.

Best NRI Discount Brokers in India

Zerodha and Prostocks are the two best NRI discount brokers in India. Prostock is the low-cost NRI trading broker that charges Rs. 100 flat brokerage on NRI trading while Zerodha charges Max Rs. 200 per order brokerage.

Best NRI Full-service brokers in India

ICICI Direct NRI 3-in-1 account is the top NRI full-service broker to trade in shares, F&O, currencies, IPO, and mutual funds. HDFC Securities and Kotak Securities are the other popular NRI full-service brokers.

 


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