Comment on NRI trading on Indian Stock Exchanges
commented on
13 Apr 2015, 01:19 PM
Hi Peeyush,
Please find answers below:
1) You can only have one PIS account. If its mapped to another broker, you’d have to disassociate with him and get yourself mapped to Zerodha. As an NRI, you cannot trade with more than one broker at one time.
2) Yes, everything’s done online. Your PIS bank (HDFC) updates us of the availability of funds. We update such funds as your trading limits. When you buy, we send the contract note to your bank, bank debits your account and gives us the money. In case you sell, the bank debits our account and gives you the money.
3) We wouldn’t know how much your bank would charge to open a PIS account. It’s best to get in touch with someone from the bank. About the charges with Zerodha, I’d appreciate if you can give us your contact details, we’ll get someone from our Sales team to give you a call and assist you. Do send an email to [email protected] with your contact details.
4) Brokerage would be Rs.200/order regardless of the order value. Request you to refer our brokerage calculator: http://zerodha.com/brokerage_calculator to know the charges. The only change you’d have to make here is change the brokerage to 400 (instead of 40 that it shows)