Comment on Account Opening Documentation & Charges

Venu Madhav commented on 23 Jun 2014, 10:27 PM

Hi Mohamed,

Before answering your questions, its imperative to know whether you’d like to trade in only the Equity segment or the F&O segment too because the documentation would change accordingly. On the assumption that you are looking at trading only in the Equity segment here are the answers to the queries you’ve raised:

1. Self attested copies will suffice if you are in India while opening your account and one of our executives is meeting you for this purpose. Else you’d have to get the account opening documents attested by the Embassy where you are residing.

2. For now Zerodha has a tie up with HDFC, Axis & we will be able to service you only if you have a PIS account in one of these banks. We are expanding the number of banks but for now you’d have to have a PIS with either Axis or HDFC. We could help you with the account opening at one of these banks if you wish to.

3. The PoA that you sign is a limited PoA which allows Zerodha to debit shares in case you sell stock from Demat. We are not sure what the PoA as provided by the Indian embassy would contain. We would require you to sign the PoA in the format as prescribed by us.

4. For now NRI’s can’t trading in Commodities and hence this is ruled out. No need of sending 6 month bank statement.

If you are looking at trading in the F&O segment too, please note that the documentation is different and you’d have to obtain a CP code for which the procedure is different too.

Please get in touch if you have any other queries.

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