Which discount broker is offering NRI trading in Derivatives now?

#31
You may be right.... I need to check more with these brokers and in more detail... We may miss out on something and take the dive and then realise we are drowning...

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Right, there are so many regulations against NRIs that sometimes even the brokers don't know them all, which is why I think we traders should stick together & share information, like in this thread, so that we're all better-informed.
 

Finvasia

Well-Known Member
#32
Hi Greg

Hello @Finvasia

Thanks for your replies.

If i understand you correctly,

1. With just NRO account i can do trading in both EQUITY (and/or index) and EQUITY (and / or Index) DERIVATIVES both intraday and position trading ...... Provided i open a PIS account also using the same NRO account.
Equity (Cash segment) Intraday is not allowed to NRIs.

2. The bank you prefer is AXIX bank or YES BANK. So if i have a NRO account with any of them is that it ? Do i also need to have a DEMAT account with STOCK HOLDING CORP ? if no then where do i need to have the demat account ?? Please guide on this ?
P.S. I already have a DEMAT account with Stock Holding and they are ready to convert the same to NRE / NRO demat account depending on what i want.
You need to have NRO and PIS account with either of the banks. Regarding Demat, it has to be either opened with us or your PIS bank for settlement.


Thanks
 
#33
JUST POSTING THE BELOW EMAIL CORRESPONDENCE I HAD WITH A BROKER.. I get the impression from below that equity intraday is allowed.... BUT I WILL CHECK MORE WITH THEM...

On Fri, Feb 1, 2019 at 8:18 AM NRI Support wrote:
Dear Sir,​
Good Day!​
Please find the below response for your reference :
Can you please advise if you provide trading in equities / futures / options /​
currencies and commodities also for anyone having NRO account ??​
NRI are eligible to trade in equity/ futures/option and mutual funds only.
Also can i do intraday trading and BTST (Buy Today Sell Tomorrow) ??​
Yes sir you can do intraday and BTST also.
If yes, please provide details of charges and also margins provided.
For equity its is 0.3% on total volume , Futures & options its a flat brokerage Rs 1499+ GST per month, for investing in mutual funds there are no charges.
Please feel free to contact us for further assistance.​
 
#34
Hi Greg



Equity (Cash segment) Intraday is not allowed to NRIs.



You need to have NRO and PIS account with either of the banks. Regarding Demat, it has to be either opened with us or your PIS bank for settlement.


Thanks
Can NRI's have trading-accounts with multiple brokers for equity-futures trading?
 
#36
@Finvasia
Thank you for participating and replying in this forum. It will help all of us to benefit from your responses.

So to say, I have understood your process for F&O trading for NRIs. There are a few questions I have in my mind.

1) You mentioned that the funds from NRO account have to be transferred to your account. If so, what is the minimum amount?
2) Do you reserve certain amount as margin (or hair cut as it is said) and give limit for balance amount in trading account to trade in F&O. Like if I transfer INR 10 Lacs, do you provide trading limits for the full amount of INR 10 Lacs or keep some margin and allow lesser amount to trade in F&O.
3) No one would mind paying brokerage, (reasonable ofcourse) but to be honest, I find your zero brokerage bit apprehensive and skeptical. If you do not make revenue from clients how do you make it is a sustainable business model?
4) Do you trade in proprietary account?
 

Finvasia

Well-Known Member
#37
Hi Eclipse

Please find the replies to your queries below:

@Finvasia
Thank you for participating and replying in this forum. It will help all of us to benefit from your responses.
So to say, I have understood your process for F&O trading for NRIs. There are a few questions I have in my mind.
1) You mentioned that the funds from NRO account have to be transferred to your account. If so, what is the minimum amount?
No minimum balance is required

2) Do you reserve certain amount as margin (or hair cut as it is said) and give limit for balance amount in trading account to trade in F&O. Like if I transfer INR 10 Lacs, do you provide trading limits for the full amount of INR 10 Lacs or keep some margin and allow lesser amount to trade in F&O.
No haircut. You shall get limits of available balance.

3) No one would mind paying brokerage, (reasonable ofcourse) but to be honest, I find your zero brokerage bit apprehensive and skeptical. If you do not make revenue from clients how do you make it is a sustainable business model?
We offer commission free trading and demat accounts. To know more visit https://www.finvasia.com/pricing

4) Do you trade in proprietary account?
Yes, we trade in proprietary account.

Thanks
 

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