Top 10 NRI Discount Stock Brokers in India

NRI Share brokers offering services in India can be classified into full-service and discount brokers.

NRI full-service brokers are traditional brokerage companies that offer trading services, wealth management solutions, research, and advisory, etc. Popular full-service share brokers for NRI trading include HDFC Securities, Axis Direct, ICICI Direct, SBICAP, Motilal Oswal, and Sharekhan, etc.

NRI discount brokers, on the other hand, are new-age brokerage companies born in the internet age who offer their services through online trading platforms, focus on offering trading services only and don't have a lot of physical presence in terms of branch offices. Here's the complete list of NRI discount share brokers in India by active clients.

NRI Stock Brokers List (Discount Stock Broker)

Rank	Broker	Acct Opening Fee	Brokerage	Request Callback
	ProStocks	₹0	₹100 per trade	Open Account
1	Zerodha	₹500	₹100 per trade (non-PIS), ₹200 per trade (PIS)	Open Account
2	Angel One	Rs 500	Rs 20 per ISIN	Open Account
3	Fyers	Free	₹50 and 0.5% for other services	Open Account
4	Tradingo	Rs 300	PIS Acct: Rs 100/Trade \| Non-PIS: Rs 500/trade	Open Account
5	Prostocks	₹0	₹100 per executed order	Open Account

		Compare

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NRI discount brokerage companies' key USP is their brokerage rates. Discount brokers like Zerodha, Prostocks and Tradeplus etc., pioneered the flat fee brokerage system wherein a trader is charged a flat fee per order irrespective of the trading value. For example, Prostocks offer Rs 100 Per Executed Order, the cheapest brokerage for NRI trading in India. When you compare the brokerage charges of discount brokers with full-service brokers, you will find at least a 60% difference in the brokerage fees.

The other USP of the NRI discount stock brokers is their online trading platforms. Right from the account opening process, trading to customer support, these brokers heavily leverage technology in their processes. Zerodha is the best discount brokerage firm when it comes to offering technology-enabled services to its customers. Beyond trading platforms, these companies also offer trading tools for trade analysis, algo trading, and portfolio management.

Frequently Asked Questions

1. Why you should open an NRI trading account with a discount broker?
1. They offer low brokerage plans that can bring down your trading costs by over 60%.
2. Offers advanced online trading platforms.
3. Fixed brokerage plans for all types of traders.
Discuss this question
2. Who should open an NRI trading account with a discount broker?
1. NRIs who are experienced traders and can choose stocks and trade on their own.
2. Those who are looking to lower their trading costs.
3. High volume traders.
Note-
1. Some discount brokers in India do not offer their services to US and Canada based NRIs due to FATCA and CRS regulations. These regulations require additional compliance from the brokers. NRI traders of the US and Canada, therefore, must check before applying for the account opening with the brokers.
2. Some full-service brokers don't allow NRIs to trade online. With such brokers, NRIs need to contact their Relationship Managers who will place orders on their instructions.
Discuss this question

6 Comments

6. Rajesh

| Link|January 31, 2024 7:14:59 PMReply

Hi, Can NRI open two more NON PIS NRO Demat accounts in different brokers. or only one NON PIS NRO Demat account is allowed.

5. Haneesh

| Link|March 31, 2022 2:00:13 AMReply

It is defiantly good platform, easy and supportive customer service.

I tried most market leading platforms and endup with Prostock for day to day trading and investing.

Keep it up.

4. Ahmad

| Link|November 26, 2021 10:30:40 PMReply

Yes Prostocks is really good.

3. Nikunj

| Link|November 25, 2021 6:42:35 PMReply

I opened the Account in Pro stock. nice & Fast Customer Support. Easy Account opening process.
Platform is also Good. easy to trade.
Better they start Tie-up with Small case and Sensible Etc. to easy of trade in Option.

2. Babu

| Link|February 21, 2021 2:24:44 PMReply

Prostocks is a good brokerage firm, immediate response from customer service. Happy to have account with Prostocks. I opened account with them by online for NRO Non-PIS. trading and demat account. Excellent team.

2.1. Shakir

| Link|October 20, 2021 1:51:47 PM

Hi Babu,
what is the requirement Documents and all?
any document attestation required from overseas?

i have NRE and NRO account with Axis Bank and i want to open NRO non PIS account.

1. Arunkumar mistry

| Link|November 19, 2020 3:35:43 PMReply

I have account with PROSTOCK and i am satisfied till now
Immediately reply by customer SERVICE
Only cons not supporting SMALLcase feature
OTHERS I TRIED LIKE ZEROTHA , ANGEL BROKING . NOT GETTING ANY REPLY IMMEDIATELY.

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Top 10 NRI Discount Stock Brokers in India

NRI Stock Brokers List (Discount Stock Broker)

Frequently Asked Questions

1. Why you should open an NRI trading account with a discount broker?

2. Who should open an NRI trading account with a discount broker?

6 Comments