Motilal Oswal NRI Account: Empowering Global Investors for Success | Garv Thakur
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Motilal Oswal NRI Account Opening, Charges, Services Review
Motilal Oswal is among the oldest full-service stock broking firm. It was incorporated in the year 1987. It is one of the oldest stock broking firm in India. It is famous for its services such as trading applications, portfolio management services and the quick customer support. The company also provides various trading services in various sectors such as Equity, Commodity, Currency and Derivatives.
Motilal Oswal also avails its customers with various products like Mutual Funds, IPOs, Gold, Insurance and the Fixed Income products. This company is broadly recognised for its MOAMC discretionary portfolio management service.
The basic foundation on which the company has built the strong base is its solid research technique. It has almost 10% of the revenue that is invested in the equity research. The company has earned the dedicated teams for the large-cap, mid-cap and the technical research. The company has published 30,000+ research reports on 260+ companies that spreads across the 21 sectors. Its research reports have received the broad coverage in the media from the fundamental, technical and derivative research perspective.
Motilal Oswal NRI Account
Motilal Oswal facilitates its customers with the two-in-one NRI Trading account. This account is a combination of a trading and demat account. An NRI needs to hold a NRE and NRO bank account along with a PIS letter before opening an NRI account with Motilal Oswal. It has a tie-up with HDFC Bank for the NRI bank accounts.
The customers that are interested in derivative trading requires to receive a custodial account i.e. CP code. It holds an IL&FS securities custodian that provides the CP code to Motilal Oswal’s NRI customers. All the assets are considered under the custody of IL&FS.
NRI Demat Account by Motilal Oswal
The demat accounts holds and secures the securities that are purchased by the NRIs in an electronic format. The demat account helps the customer to carry financial transactions (Buy or Sell) securely. It offers NRI demat accounts through its NSDL and CDSL membership.
NRI Trading Account by Motilal Oswal
The trading account allows the customers to access the BSE and NSE trade across various securities such as stocks, mutual funds, and bonds etc. This account is a mandatory account for the NRIs to make trade or make investments in India. This account is linked with the demat account and bank account.
NRI Trading Process in Motilal Oswal
After opening a NRI Bank account and two in one account an individual is ready to trade online with Motilal Oswal. The NRI trading procedure is as follows:
1. Allocation of Funds: An individual first requires to transfer the funds from NRE or NRO bank account to their PIS Bank Account. The bank further informs MOFSL on the funds that a customer holds in their PIS account. The trading account is then updated with the available limit.
2. Place Order: It allows the placing order through Motilal Oswal trading software to place the order to buy or sell shares.
3. Settlement of Funds: The broker sends a contact note to the bank. On the basis of the contract note, then the bank debits funds from the PIS account and credits it to the MOFSL. For a sell order, Motilal sends a sell contract note to the bank. The broker also further credits the PIS Bank account with their sale proceeds. The two separate contract notes each one for buy and sell transactions are then sent to the bank at the end of the day onward by reporting to RBI.
4. Settlement of Stocks: The broker debits or credits the stock in the NRI demat account. It takes T+2 days with T being the day of trading for the settlement process to complete.
Documents Required to open a Motilal Oswal NRI Account
A certain set of documents is required to open an NRI account with Motilal Oswal. The list of the documents is below:
1. A PAN Card copy.
2. An Overseas address proof.
3. An Indian address proof.
4. A passport size photograph.
5. A bank account proof. (Eg: Cancelled cheque of NRE or NRO saving account)
6. A FATCA Declaration form.
7. A PIS Permission letter.
8. FEMA Declaration form.
Note:
1. It takes up to 7 days to open an account after the reception of the completed application form along with the documents.
2. The NRIs can open both NRE and NRO bank account. However, only one of the accounts is linked with the NRI trading account.
3. The NRIs can trade in both Equity and Equity F&O.
4. Intraday Trading is not allowed to the NRIs. Trading in currency and commodities is also not allowed.
Motilal Oswal NRI Account Opening Process
Opening an account with Motilal Oswal is simple as it offers a paperless online account opening procedure. Before an individual opens a trading and demat account with Motilal Oswal, he must hold a NRI Bank Account, PIS Bank Account and Custodial account (to trade in F&O).
Steps to open NRI Motilal Oswal Account
1. Visit the official website of Motilal Oswal.
2. Select and click on the “Open an account” tab available at the top menu.
3. Fill in the online application form.
4. Get a print out of the form and then put in their signature at the required places.
5. Now, send it to the address that are provided in the form along with documents.
Advantages of Motilal Oswal NRI Trading Account
1. It is a full-service broker that provides various trading and investment services.
2. It has a strong research team that constantly provides investment advices and the trade recommendations to the customers.
3. It has presence across the 2,200 locations from over 500 cities in India.
Disadvantages of Motilal Oswal NRI Trading Account
1. The Motilal Oswal does not provide the facility of 3 in 1 account. Thus, the NRIs must transfer the money from the PIS account to the trading account before an individual places the order.
2. It does not have offices in any foreign location.
3. The brokerage charged is high as compared to other discount brokers.
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Frequently Asked Questions
It is a trustworthy broker and has developed a unique Identity in the broker industry.
Motilal Oswal is owned by Passionate Investment Management Private Limited.
Yes, Motilal Oswal provides the margin funding facility to its customers.
Motilal Oswal charge ₹20 per lot on both side for currency future trading and ₹20 per lot on both side for currency options trading.
Navin Agarwal is the CEO of Motilal Oswal.
• Motilal Oswal Desktop Trading Application.
• Web Trading Platform.
• Mobile Trading Application.
Yes, Motilal Oswal provides Intraday tips. They are provided by the advisory and the research team of the firm. It provides several market reviews, stock reviews, and research reports as well as from the time to help the traders to take decisions.
Motilal Oswal charge 0.50% for the equity delivery trade. These trades are also known as Cash and Carry trades or CNC.
These services are especially beneficial for the beginners that don’t trade frequently and needs to do research to make investments or trade in the stock market.
Motilal Oswal charges ₹0 Annual Maintenance Charge for the trading account and free for a demat account. AMC is charged to maintain the accounts.
Motilal Oswal Financial Service Limited is a non-banking financial company that is registered under the RBI Act 1934.
Motilal Oswal charge 0.05% on both side for equity, currency and commodity future trading.
In order to use the Motilal Oswal online trading platform an individual is required to have a demat account with them. In case you are opting for offline trading mode then you can continue by using the existing demat account.
Motilal Oswal provides the 20 times margin for (over 140 stocks), 4 times for other stocks for intraday trades whereas Zerodha Intraday cash is up to 20 times.
Yes, Motilal Oswal offers the online IPO applications to the customers.
Yes, the customer can easily buy or sell mutual fund if they hold an account with Motilal Oswal.
Once after the submission of the relevant documents, Motilal Oswal will further send the Welcome Kit with the details of their Client Id and password.
Motilal Oswal MF Equity Funds are more suitable for the investors that are seeking long-term capital appreciation over the period of 5 years or more.
ValuePlus is the product offered by Motilal Oswal Securities Limited to the clients. It is an Intraday order placement feature that allows you to take a position in select liquid commodities thereby negating the risk of position not getting closed when MTM loss % is hit that results in known loss figure.
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