Axis Direct NRI Account Opening, Charges, Services Review
Axis Securities Limited is a full-service broker that is a part of Axis bank, which is a leading private bank in India. The broker provides its services and various other trading financial products to the retail customers in India through Axis Direct brand. It is ranked among the top stock brokers in India with more than 4.2 lakhs active customers.
Axis Direct offers investment opportunities in Equities, Mutual Fund, SIP, IPO, Derivatives, Bond, NCD, ETF and company fixed deposits. The broker is a participant of both the national stock exchanges i.e. BSE and NSE.
This stock broker is among the highest active clients in the stock broking space in India. The company holds a client base of more than 3,00,000. It also allows the customers to set up a demat three-in-one account that makes it more convenient to transfer funds.
Axis Direct provides services in various segments such as Equity, Derivatives, SIP, Mutual Funds, IPO, ETFs, Tax planning, NCDs, Bonds and Company FDs. It also has many easy-to-use trading software and platform including its advanced mobile app.
Axis Direct is the third largest private bank in India that offers a 4 in 1 account to the NRI customers. This account is combined of a PIS and a NON-PIS Bank account, Trading and Demat account.
Axis NRI 4 in 1 Trading Account
It is an investment account and offers key services to the NRIs. The account provides various online investment options in India by using a single Login Id. The 4 in 1 account is the most convenient way to invest in the stock markets and mutual funds in India.
Features of Axis 4 in 1 Trading Account
1. It is an integrated account that provides convenience while trading.
3. It allows to make investments across the stocks, equity derivatives, ETFs, IPOs, NCDs and Mutual Funds.
4. It provides free stock research and tips.
5. It allows trading on the phone with call and trade facility.
The Axis 4 in 1 Investment account is consist of four different accounts:
1. NRI PIS Savings Bank Account (NRE or NRO).
2. NRI Non-PIS Savings Bank Account (NRE or NRO).
3. NRI Demat Account.
4. NRI Trading Account.
All of these accounts are linked together to make transactions fluently. When an NRI buy shares through the trading account then the money is withdrawn from the PIS bank account and then the shares are credited to the demat account. At the time of selling shares, the shares are debited from the demat account and the money gets deposited in the PIS account.
Documents Required to Open an NRI Account with Axis Direct
1. An identity proof (Valid Passport)
2. NRI Status proof.
3. Overseas Address Proof.
4. Indian Address Proof.
5. Signature Proof.
6. Additional Proof.
7. Passport Size photographs.
8. PAN CARD with Photographs.
1. An NRI can both NRE and NRO account with the bank. However, they can link any of the one account with their Axis NRI Trading Account.
2. You can link NRE Account with the NRI Trading account that enables you to trade in the Equity Segment. The customer allows trading in both the Equity and Derivative segments. The customer needs to open two trading accounts in order to map the accounts.
3. NRIs allows trade only in the equity and equity futures and options.
4. Axis Direct does not offer NRI Trading services in Intraday, Currency and Commodities.
NRI Account Opening Process
The Axis Direct NRI Account Opening Process is completely online, easy and fast.
Steps to open an Axis NRI Account
1. Fill an online NRI Account application form available on the website.
2. Now, take a print application form and sign on all the required spaces.
3. Scan and upload the application form and attest it with the supporting documents.
4. Axis Bank further verifies the documents and arrange for all the documents that must be collected once the verification is done.
Axis Direct NRI Trading Account Charges
The brokerage charges for trading in Equity and Equity Derivatives are mentioned in the table below:
NRI Account Opening Charge
NRI Account AMC
Equity Delivery Brokerage
Equity Future Brokerage
Equity Options Brokerage
Intraday: 1 paisa per lot, Carry Forward: ₹10 per lot
PIS Account AMC: ₹1500, Minimal Brokerage ₹50
Advantages of NRI Trading Account
1. It offers four in one account to gain the faster trading experience.
2. It offers services like online mutual fund, IPO and NCD Services.
3. It provides access to trade-passport, a detachable and secure order entry panel, it enables trading while researching on any financial website.
4. It provides free trading and investment recommendations.
5. It allows its customers to put GTC and AMO orders.
6. It is a subsidiary of the reputed Axis Bank.
Disadvantages NRI Trading Account
1. It provides affordable brokerage plans on the trading value that makes it expensive over the flat-fee brokerage charged by Zerodha, Trade plus, etc.
2. It does not provide any online trading facility to USA based NRI clients.
Axis direct charges for Intraday is ₹0.01 per lot and carry forward for equity, currency and commodity options trading. The options are highly leveraged derivative products. The option trading is used in many ways that includes hedging or to reduce the risk exposure of the portfolio.
To apply in an IPO through the Axis Bank, the customer needs to hold a savings bank account with Axis bank. The customer can use the demat account with any other DP service provider. A trading account is not compulsory when an individual has to apply in an IPO but needed to sell the shares received.
Axis bluechip has moderately high risk. It has good long-term returns. The scheme can be chosen by any aggressive investor that look for some good returns over the long-term. You can visit the Axis Mutual Fund investment platforms and can start investing in this scheme through SIP or lumpsum.
Axis MF allows the investments in various schemes of different fund houses such as Axis, SBI, Nippon, HDFC, etc. on the basis of investment objective, time horizon, and risk appetite. The customers can choose a suitable fund for the portfolio. An Axis Mutual Fund provides the expert’s recommendations on mutual fund investment. Various direct schemes of Axis Mutual Fund are Axis Bluechip Fund, Axis Focused 25 fund, Axis long term equity fund, Axis short term fund and Axis liquid fund.
The Broker provides redemption facilities online and offline. To redeem offline, one has to visit the bank branch office and needs to fill a transaction slip and then submit it to the branch. If you invest online then the mutual fund can be redeemed from the same platform.
E-margin is a unique product where an individual can buy stocks in delivery with margin as lows as 25% and carry it for the next 90 trading days. During the 90 days trading period, one can either square off or take delivery of the position by bringing in the remaining funds.
It charges 0.05% for Intraday trades. These orders are known as Margin Intraday Square-up or MIS orders. All the open Intraday orders are auto-squared off at the end of the day. Extra leverage is offered for these trades.