I wrote an email to IB asking for India rules for day traders and leverage/margin. Here is the reply. Hope it helps all.
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IB India offers trading in stocks, stock options, stock futures, index options, index futures and currency futures on the NSE for Indian residents.
Below are the answers to your queries:
1. The Pattern Day Trading rule shall not apply. This means that you can do unlimited day trades without any restrictions.
2. The leverage offered is 50% on Category 1 NSE stocks and no leverage is offered on Category 2 and Category 3 stocks.
In order to open an account, there is a liquid net worth requirement of USD 6000 or equivalent to trade in stocks or USD 30000 to trade in derivatives. This proof can be in the form of bank statements, fixed deposits, mutual fund holdings or your existing shares with another broker.
As IB caters to active traders, a monthly Minimum Activity Fee is assessed to account holders generating commissions below USD 5 in any given month. This fee is capped at USD 5 and is offset in part or in full by any commissions generated during the month.
The initial minimum deposit is USD 2000 or USD equivalent.
Please refer to the below link for further pricing information:
https://www.interactivebrokers.com/en/index.php?f=13869
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