Zerodha (Trading Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
Zerodha (Trading Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
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Non-Resident Indians (NRI) are a growing community spread around the world. NRI Trading in India is gaining momentum as Indian stock markets become an attractive investment destination for the investors' community. Sensing the demand, stock brokers in India has also started to woo NRI traders with attractive services like 3-in-1 NRI Trading Account, Zero AMC NRI Demat Account and Low Brokerage NRI Plans.
There are many stock brokers for NRI in India like ICICIDirect, Kotak Securities, Axis Direct, Zerodha and Prostocks, etc., who offer trading and investment services in Equity, Derivatives, Mutual Funds, IPOs, and Bonds. Here's the complete list of NRI brokerage account in India with NRI trading account charges comparison.
| Rank | Broker | Brokerage | Active Clients | Request Callback | Review | Compare |
|---|---|---|---|---|---|---|
| ProStocks | ₹100 per trade | - | Open Online Account |  |
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| 1 | Zerodha | ₹100 per trade (non-PIS), ₹200 per trade (PIS) | 7,884,365 | Open Account  | | |
| 2 | Angel One | Rs 20 per ISIN | 7,132,861 | Open Account | | |
| 3 | ICICIdirect | 0.50% - 1.25% | 1,905,641 | | ||
| 4 | Kotak Securities | 1.00% | 1,382,036 | Open Account | | |
| 5 | HDFC Securities | 0.75% | 1,244,723 | | ||
| 6 | Sharekhan | 0.50% | 690,766 | | ||
| 7 | AxisDirect | 0.75% | 404,885 | | ||
| 8 | Fyers | ₹50 and 0.5% for other services | 240,489 | Open Account | | |
| 9 | Choice Broking | 0.50% | 222,280 | | ||
| 10 | Anand Rathi | 0.30% | 139,339 | |
NRI stock brokers can be categorized into 2 types:
They offer a wide range of services including online stock trading, dedicated relationship manager with personalized service, research & advisory, and other wealth management solutions. Those with banking licenses such as SBI Capital, HDFC Securities, Axis Direct, ICICI Direct, etc., also offer 4-in-1 or 3-in-1 Trading account wherein NRI Bank Accounts (NRE & NRO), PIS Account, Trading, and Demat account are linked to each other for trading convenience.
They offer limited no-frill trading services including online trading and investment in Equity, F&O, MF, IPO, Bonds. They charge a very low brokerage in comparison with full-service brokers.
NRI discount brokers like Zerodha, Prostocks, Tradeplus, and Tradejini are known for the low-cost NRI brokerage plans and advanced trading platforms. Online discount brokers don't offer research and financial advisory services.
Popular stock broker for NRI in India includes Zerodha, ICICIDirect, Tradeplus, Sharekhan, Motilal Oswal, etc. Many of these NRI brokers in India also offer convenient services like dedicated NRI desks, Call n Trade, Good-till-cancelled orders (GTC), After Market Orders (AMO), Stock Recommendations and Online Trading Platform including a mobile trading app for NRI to conveniently trade from foreign countries.
Note
An NRI can hold shares in India received in the form of a gift, purchased in the capacity of resident Indian, or by participating in equity investments.
To participate in Indian equity markets, an NRI will require an NRI trading account, NRI Bank Account, and NRI Demat account. Based on whether an NRI wishes to trade with or without repatriation benefits, the NRI accounts can be opened as NRE (to trade on repatriation basis) or NRO (to trade on a non-repatriation basis). To trade on a repatriation basis, an NRI will also require PIS approval from RBI. The PIS approval to trade using NRO accounts is optional based on the kind of services offered by the broker. Once, all the required accounts are set up, an NRI can start trading in India markets and hold shares in their Demat account as per their will.
An NRI can also hold shares purchased in the capacity of resident Indian or received as a gift. These shares can be held in the resident Demat account in case an NRI has no intention of making any fresh investments. However, it is preferred to sell off such shares or gift to someone to avoid any issues rather than holding a resident Demat account.
Yes. A Non-Resident Indian (NRI) staying outside India is permitted to open a trading account and invest/trade in the India stock market by RBI. You can read more about this at NRI Trading In India.
An NRI requires 3 accounts to trade/invest in the Indian stock market. This includes
The process of NRI account opening is partly online.
Most banks in India offering NRI services allows its NRI customers to fill the account forms online, download the PDF file, print it, sign it and send it to the bank.
For discount stock brokers like Zerodha, the process is quite similar.
NRI Demat and Trading account charges are as below:
For more detail visit NRI Trading Charges Explained.
There are many full-service and discount stock brokers in India offering trading services to NRI. Each one of them has its own pros and cons.
Full-service brokers give you a range of investment options under one account. They also offer a wide range of add-ons like personal relationship manager (RM), PMS, tax, funding, research and recommendations etc. Their brokerage charges are very high.
Discount brokers offer online trading and mutual fund investment services at the low brokerage cost. They do not offer services like RM, PMS, Tips etc.
Best Discount Broker for NRI Trading Account in India
Zerodha is the best and largest broker offering online NRI trading services. Prostocks is another online discount broker which is a very popular amount the NRI traders for its low-cost NRO Non-PIS trading account.
Best Full-service Broker for NRI Trading Account in India
ICICI Bank is the most popular full-service broker. They offer an NRI 3-in-1 account. They have experience of over 25 years and have local offices in major cities around the world. HDFC bank is the 2nd most popular full-service broker for the NRI trading account.
Here are a few resources:
Best NRI Discount Stock Broker List with trading platform:
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Broker Name |
Trading Platform |
Investment Services Offered |
|---|---|---|
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Zerodha |
Kite Mobile and Web |
Stocks, MF, F&O, IPO |
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Protsocks |
Prostocks Mobile, Web and Desktop |
Stocks, MF, F&O |
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Tradeplus |
Infini Power (Mobile and Web) |
Stock, MF, F&O, IPO |
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FREE Intraday Trading (Eq, F&O)
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