ProStocks - Unlimited Trading Plan and Flat Fee Plan

You are wiser and still you are asking us to reply. Please understand that neither NSE nor BSE is giving volume linked incentives . Make money even if they do not charge ? Those who do not do Prop can never use client's funds for exposure in Stock Market even for Intra day. Those who Do ???
You said exchanges don't offer volume linked incentives... so what about this article - https://www.thehindubusinessline.co...tives-for-FampO-liquidity/article20420666.ece
 
Yes, we will. You must be aware that you can buy shares and you will not be able to sell the shares.
I need clarification - You said client will not be able to sell the shares ...I think you meant client will not be able to sell the shares through you ...because once he buys ..those shares are delivered to other broker where he has demat so he may not be able to sell through you but he should be able to sell through that other broker where he has demat account (i.e where he has taken delivery in to that demat)
 
Can I open NRO Non-PIS Trading and Demat Account?
Yes.
Your investment in India through the Stock Market is governed by the following regulation:

  1. Foreign Exchange Management Act (FEMA) supervised by RBI
  2. Income Tax Act, 1961 supervised by Income Tax Department, Govt. of India
  3. SEBI regulation for Exchanges, Stock Broker and Depository
You can invest on Repatriable Basis (NRE) or Non-Repatriable Basis (NRO) or both.
When you open NRE PIS Bank Account: Your Bank provided you with the following THREE services besides usual banking Services:
  1. Applying to RBI and taking PIS (Portfolio Investment Scheme) permission. This is a one-time activity. This is a requirement under FEMA.
  2. Reporting all your transaction routed through PIS Bank Account to RBI on a regular basis. This is a requirement under FEMA.
  3. Calculating, Deducting and Depositing you tax liability arising out of shares sold through PIS Trading Account and proceeds credited to PIS Bank Account. This is required due to Section 195 of the Indian Income Act,1961.
FEMA has been amended in Feb 2016, and NRI investing through Non-Repatriable Basis (NRO) route are not required to take PIS permission and hence no requirement of reporting transaction to RBI.
In a nutshell, Service Number 1 and 2 mentioned herein-above are no longer required for NRO Account. However, Service Number 3 is still applicable.
Banks are willing to provide Service Number 3 as mentioned herein-above for NRO Account BUT at the same taking charges which they are taking for NRE PIS Account. In such case, your Banker will open your normal NRO Saving Bank Account, will insert Dummy PIS permission Number, so their software will behave as if this is PIS account and will rename this as NRO Investment Account and will provide you Tax Deduction Service.
ProStocks is now bring to you NON PIS NRO Trading Account.
ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1961 for a fixed fee of Rs 1k p.a (waived for account opened before 1st July, 2020) and you would be able to trade in equity segment just like Resident Indian. No Custody Account, No hassle of dealing with Custodian or PIS Banker besides Stock Broker. No PIS Bank Account required.
Why are you charging higher brokerage to NRI clients? What do you have to do differently with NRI clients that warrants 100 times brokerage? Just because you think they make money in foreign currency ..they are rich and you should get a cut from them?
 
there is a reason india is behind ...unnecesary stupid rules that nobody follows yet it is their
The moment you become NRI you are supposed convert all your saving bank account to NRO. you cannot hold a normal resident savings account.
Upon coming back you should convert back to resident savings account.
The only difference NRO account has higher tax on intrest income.
if you have a normal trading/demat account you are supposed to close them. Imagine if you have stock portfolio which you built over the years . I don't think you can transition to NRI trading account.
if you have a ppf account you are supposed to close them. you are no longer eligible..

Definition of NRI is if you spend more than 180 days in another country. Imagin you went for 1 year ...then come back
you have to close all and reopen again ...
this is nuts

they said initially nri not eligible for adhaar. Imagine how a NRI supposed to function without adhaar.then they ammendent and said they are eligible..bunch of jokers...

I know for a fact most dont follows these rule ....most NRIs don't even know these rules exist ...

they need to stop treating NRI as FII stop these nonsense...regulation ...
Did you notice that this prostocks and most other brokers charge higher brokerage ? I mean what do they have to do differently to charge almost 100 times compared to domestic clients ?
 

Verde

Well-Known Member
A few questions.
Do you have a video of your desktop platform uploaded on youtube or elsewhere ?
Are all option strike prices available for purchase or are there any restrictions on certain strike prices?

as others are doing
Bank Nifty contracts allowed for trading
Current Week- 22400 TO 22800 CE & PE
Next Week- 22100 TO 23100 CE & PE
 
found this on google https://www.theweek.in/wire-updates/business/2019/12/03/pwr28-finvasia.html

and it;s good to have new discount broker as ProStocks.

Lifetime AMC Free Trading and Demat Account. + ₹0 Account Opening Fee (Online Trading + Demat) *Limited Time.
are sign of good discount broker
Finvasia too has it
ProStocks too has same

if we not happy with existing broker one can always move to next discount broker .
 
@ProStocks sir heard that your BSE BEST software is doing good. good to know that. all the best.
I have two queries, do you provide e-DIS facility and do you provide margin against shares provided as collateral ?
 
@ProStocks sir heard that your BSE BEST software is doing good. good to know that. all the best.
I have two queries, do you provide e-DIS facility and do you provide margin against shares provided as collateral ?
1. Yes We do provide EDIS for Resident as well as Non-Resident.
2. We provide exposure against the ledger Balance but we provide Rs 899 Monthly Brokerage Plan for Unlimited Trading in Equity and Equity Derivatives that too without any PCM Fee. We are the only one in India to provide Monthly Plan without PCM Fee. Lowest Transaction Cost, guaranteed.
3. We do Provide BEST Platform and also provide ProStocks Trading platform and client has a choice.
ProStocks Monthly Unlimited Trading Plan
 
found this on google https://www.theweek.in/wire-updates/business/2019/12/03/pwr28-finvasia.html

and it;s good to have new discount broker as ProStocks.

Lifetime AMC Free Trading and Demat Account. + ₹0 Account Opening Fee (Online Trading + Demat) *Limited Time.
are sign of good discount broker
Finvasia too has it
ProStocks too has same

if we not happy with existing broker one can always move to next discount broker .
ProStocks is only one to provide Monthly Brokerage Plan for unlimited Trading without PCM Fee.

Once someone surrender Prop realises that it was not correct to do Broking and Prop, Both , not before that.

The fact of the matter is Peak Margin Reporting will be a reality soon and for Broker to do Prop on an intraday basis from Client's fund would not be possible so many more people will surrender Prop.
 

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

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