Online Demate Account For Nri In Usa

Gaurang · #1 22nd August 2006, 06:14 AM

hi, Everybody of traderji family,

After long search i got this websites with he help of google, I m new commer in USA. And also new in this field. But I am very intrested in share trading. So I want to open my online DMAT account.
I already inquired in ICICI bank. But they tell me you can open only PLANEDMAT account.In this account you can buy & sell using broker in india. And i also don't have indian PAN number. So please advise me for that. which is the best way for trading? And Is there any online trading is available. so how i can buy & sell share on line.

From:
Gaurang

j_hornung47 · #2 22nd September 2006, 06:36 AM

Gaurang,

I am in the same situation, here is how I understand it....

As a US based NRI, you can open a DEMAT account and buy shares, but you can not do it through the ICICI website or for that matter from any other online broker website. You have to instruct the broker to buy the shares for you (phone call, email etc.)..

JH..

aca_trader · #3 22nd September 2006, 09:25 AM

Quote:

Originally Posted by j_hornung47

Gaurang,

I am in the same situation, here is how I understand it....

As a US based NRI, you can open a DEMAT account and buy shares, but you can not do it through the ICICI website or for that matter from any other online broker website. You have to instruct the broker to buy the shares for you (phone call, email etc.)..

JH..

Actually this problem is due to SEC regulations. RBI/SEBI regulations do not discriminate between NRI's living in the US or elsewhere.

The solution is that you trasfer funds to any family member of yours who can open a Demat account with any of the online brokers in India and trade.

Best Regards,
--Ashish

mugildata · #4 23rd September 2006, 09:55 PM

Hi,
One simple question?
Why can't you do share trading at US itself, I mean with
US companies?
Why you are interested to do share trading in India?
These brokers are suckers. All through these years they
have learnt how to rob money from their customers rather than to give sincere service.

Or, the condition is similar in US also?

zdestiny · #5 24th September 2006, 05:29 AM

ICICI direct does offer demat services for NRIs.

rajibsam · #6 21st November 2006, 03:43 AM

Interest rates are higher in India (due to growing economy) as compared to India. Hence, people used to invest in growing economy for more returns.

market_punter2000 · #7 25th January 2007, 10:50 PM

try koatk for this http://www.kotaksecurities.com/nriaccount/nripriv.html

geetpreet · #8 28th November 2007, 08:43 PM

How can I open the Demate Account in India

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