Best NRI Trading Account in India
NRI is an acronym of Non-Resident Indians. These are the most growing community that has spread around the world. NRI Trading has started growing their momentum in the Indian Stock Market and has become the centre of attraction in the investor’s community. The increase in demand has made the stock brokers in India to provide NRIs to invest in Indian Stock market with various attractive services such as three-in-one trading account, Zero AMC NRI demat account and the low brokerage NRI plans.
There are number of stock brokers that provide NRI Services. Some of the stock brokers are ICICI Direct, Kotak Securities, Axis Direct, Zerodha and ProStocks and many more. They offer trading and investment services in Equity, Derivatives, Mutual Funds, IPOs, and Bonds.The NRI Stock brokers are divided into two categories such as:
- NRI Full-service Broker- They provide a vast range of services to their NRI customers. They provide online stock trading services, a relationship manager to solve the issues, research and advisory and various other wealth management solutions. Some brokers with the banking license also provide 4-in-1 or 3-in-1 trading account where in the NRI Bank accounts (NRE and NRO), PIS Account, Trading, and demat account are linked to each other to make trading experience more convenient.
- NRI Discount Stock Broker- The discount brokers that offers NRI services provides online trading and investment in Equity, F&O, MF, IPO and Bonds. They usually charge less brokerage in comparison with the full-service brokers. Some of the NRI discount brokers such as Zerodha, Prostocks, Trade plus are known for their low-cost brokerage services.
- The discount brokers cannot offer NRI bank accounts as they do not have banking license. The NRIs can open such account with an authorized bank only.
- Few NRI Stock brokers in India do not provide their NRI services in the US and Canada due to the additional compliance as per the FATCA and CRS regulations.