Online Trading For NRI's

[deepsa52]

I live in the US and new to trading stocks in the Indian Market . My primary exposure to India is through the INP notes, but I believe that the the small retail investor being much more flexible can beat any of these big guys hands down. It would be very useful if I can get answers to these questions:
- Are there any restrictions for NRIs in US ( as apposed to NRIs in Gulf region )
- Any feedback on recommended brokerages based on the experience of the forum members?Especially for residents of US?
- Are there any decent fundamental analysis / stock screening/back testing software for Indian markets similar to Zacks , MSN Strategy lab? Paid or free ?
- If no for the above answer, are there any affordable data providers E catering to smaller retail investors, for example Metastock Integration?

Looking forward to replies
Thank you,
deepsa52

 

[binils]

I am a Canadian resident and I currently using ICICI direct for offline trading. I contacted reliancemooney & indiabulls and both of them said that they dont open tradnig accounts for NRIs. Kotak securities said that they will open a offline trading account and so I am going to give it a shot.

Cheers
rsk

Hello rsk,
Any updates for your post ?
I am an NRI in Japan looking start some trading..
Is the ICICI offline trading a good option...
what is meant by offline trading .......Your account with icici is NRE/or NRO ?
Regards,
Binils

 

[miththoo]

Hello rsk,
Any updates for your post ?
I am an NRI in Japan looking start some trading..
Is the ICICI offline trading a good option...
what is meant by offline trading .......Your account with icici is NRE/or NRO ?
Regards,
Binils

You will need following accounts :
1. Portfolio Investment Account (NRE PI)
2. A normal NRE account
3. Demat Account
4. Trading Account

I opened 1 & 2 with Axis bank and 3 & 4 with Geojit.

I don't have online trading facility and just send a mail to my broker to place the order whenever needed.

Miththoo

 

[V FROM TCR]

contact at sreperumpilavu@*****dotcom for details of online trading for NRI's

 

[amarleen1]

hi
Is here anyone who has got nri account with nriinvestindia.com, how is been the experiences.i am shortly opening acc.with them.

 

[Inisght]

Its amazing how everybody has the same question about NRI investments in India. Now I am determined to find out what the actual process is and why certain brokerages allow to do it while some don't.

I have also contacted nriinvestindia.com but still havent heard from them.

I contacted ICICI and they clearly said no. They haven't responded to my follow up question about "offline broker" facility. I am pasting their response below:

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Dear Sir,

We regret to inform you that we have stopped providing online trading facility as well as Plain Demat account facility for customers residing in USA. The said facility will be available when the necessary compliance are met with the country.

Though for trading in shares and IPO's you can get in touch with your offline broker.

And for trading in Mutual Funds, you can get in touch with AMC(Asset Management Company).

For AMC details, you can also visit the website www.amfiindia.com.

Incase you wish to check any other AMC details we request you to follow the below mentioned procedure:

* Visit www.amfiindia.com .
* Click on the link " Site Map ".
* Click on the link " AMFI Member "
* Select the Mutual Fund from the list provided.

Also for trading in ICICI Prudential Funds, you can write us at [email protected].

For more information you can also contact our Customer Care number on 022 28307777 for speedy resolution.

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