SMC Global Vs HDFC Securities NRI Account Comparison

1x margin means Full SPAN + Exposure margins defined by the exchange across Equity and Derivatives (Equity F&O, currency and commodity) segments. This means the broker does not offer any additional leverage.

• NRIs doesn't require separate Custodial Account to trade in Equity Derivatives as SMC is a registered clearing member who can get CP code for and clear the trades. This offers a huge saving for NRIs.
• Provides research and recommendation tips based on technical analysis.
• NRIs can trade and invest through mobile, software and web browser
• Dedicated relationship manager to assist the NRIs in account opening to investing process.
• SMC is a full-service broker offering a wide range of products and services.

1. Offers 3-in-1 NRI account for trading and investment.
2. A subsidiary of renowned HDFC Bank.
3. Offers online mutual fund facility through 'Digify'', a digital mutual fund platform.
4. Offers AMO and GTC order facility.
5. Research team offers trading and investment recommendations.
6. Assistance from Relationship Managers.
7. Offers loan facility against securities held in NRI demat account.

• Offers NRI trading services only to NRIs who have bank accounts with Yes, Axis, HDFC, Indusind, or Federal Bank account holders.
• It offers 2-in-1 account means NRIs have to open an NRI bank account and PIS with other banks. It also means that they have to transfer funds in their PIS account before trading.
• Good Till Date/Time (GTD) and Good Till Cancelled (GTC) orders are not available.

1. Brokerage charges are very high in comparison to discount brokers like Zerodha.
2. Doesn't offer online trading to USA and Canada based NRIs.

SMC comes across as a good choice for NRI investors who are looking for a company that offers a wide range of financial products under one roof and investment recommendations. The broker offers a good online trading platform. It also provides wealth management services to NRIs. It has a corporate office in Dubai which makes it easy for NRIs residing in the city to avail various services through branch visits. The brokerage charges of SMC Global are high in comparison to discount stock brokers.

HDFC is a good choice for NRIs to trade and invest in stocks, mutual funds and other investment products in India. Barring NRIs from the USA and Canada, it offers a convenient way to invest online. HDFC is a full-service broker offering services like RM, NRI support desk, free research, and tips, etc., to help NRIs take informed trading decisions. It also offers loan against securities held in the demat accounts. The GTC and AMO order helps NRIs in placing orders as per their convenience.