yes you can trade stocks on cash accounts only. This is legal and you can do so with our indian brokers too.
But with IB , here are the conditions ,
Indian Individual Residents (Trading overseas only)
Trade in over 90 worldwide markets (exclusive of the NSE).
Trade stocks (demat), options, futures, etfs (demat) and etc.
These are cash accounts only.
Must be 18 or older to open a cash account.
A minimum equity deposit in cash or stocks of $5,000 or the equivalent of whatever currency we support (exclusive of INR).
Minimum brokerage fees per month, $10,00, per month.
Brokers/advisors can only open an account through IB via an offshore entity. Institutional/proprietary trading groups can open an account with IB (India) Pvt. Ltd. Contact an IB India sales representative for more details.
These 2 conditions are contradicting. How can you trade futures on a cash account.
Now IB guys are not stupid to make such silly mistakes on their site. They are "professionals" right. So what does this mean?
Call them and ask, you will know for yourself.
But with IB , here are the conditions ,
Indian Individual Residents (Trading overseas only)
Trade in over 90 worldwide markets (exclusive of the NSE).
Trade stocks (demat), options, futures, etfs (demat) and etc.
These are cash accounts only.
Must be 18 or older to open a cash account.
A minimum equity deposit in cash or stocks of $5,000 or the equivalent of whatever currency we support (exclusive of INR).
Minimum brokerage fees per month, $10,00, per month.
Brokers/advisors can only open an account through IB via an offshore entity. Institutional/proprietary trading groups can open an account with IB (India) Pvt. Ltd. Contact an IB India sales representative for more details.
These 2 conditions are contradicting. How can you trade futures on a cash account.
Now IB guys are not stupid to make such silly mistakes on their site. They are "professionals" right. So what does this mean?
Call them and ask, you will know for yourself.
In any case, I've been contemplating of opening an account (to trade ONLY stocks) & that's why your earlier reply concerned me since you'd also mentioned stocks, & I wanted to get some clarity on that since there are so many people saying different things about this & one wouldn't want to get in legal trouble.
Last edited: