Non-Resident Indians (NRIs) are required to open an NRI trading account to trade in stocks, IPOs, stock derivatives, mutual funds, and bonds at BSE and NSE. NRIs are only allowed to trade in equity, equity futures & options, and currency derivatives. As per government regulations, NRIs are not permitted to do intra-day trading or trade in commodities in India. An NRI trading account can be opened with stockbrokers like Zerodha, ICICI Direct and HDFC Securities, etc. NRIs trading account charges vary from broker to broker. Here is the NRI trading account charges comparison for your consideration.
Also Read: Best Demat Accounts for NRIs (Non-Resident Indians) 2021
NRI trading account charges
NRIs need to pay the following types of charges for an NRI trading account:
| Types of charges | Details |
|---|---|
| NRI trading account opening fee | It is a one-time fee paid at the time of an account opening |
| NRI trading brokerage charges | The brokerage is the commission charged by the broker for trading in the stock market. |
| Platform access fees | Some brokers also charge a subscription fee from customers to access their digital trading portals or tools. |
| Call-&-trade fee | Some brokers also charge a fee from customers for placing orders on the phone by calling the trading desk. Usually, the fee is charged per executed order. |
| Exchange transaction charges | This fee is charged per transaction by the stock exchange, usually as a percentage of the trading value. |
| Taxes | – Security Transaction Tax (STT): 0.1% on trade (both purchase and sale) – GST: 18% on brokerage + transaction charge – SEBI charges: Rs. 5/ crore – Stamp duty |
NRI trading account charges comparison
Here are the NRI trading charges of the top 5 NRI stockbrokers. You can go through each of them for NRI trading account charges comparison.
Zerodha NRI trading account charges
Zerodha is India’s largest stockbroker, popularly known for its excellent online trading platforms and flat-fee brokerage. It is a discount broker and offers a 2-in-1 NRI account consisting of a trading account and a Demat account. Zerodha NRI trading account charges are as under:
| Fee type | Charges |
|---|---|
| NRI trading account opening fees (one time) | Rs. 500 (combined for trading & Demat account) |
| NRI trading brokerage fees | – Equity delivery brokerage: Rs. 200/ executed order – Equity future brokerage: Rs. 100/ executed order – Equity options brokerage: Rs. 100/ executed order |
| Platform access fees | – Zerodha Kite: Free – Smallcase: Rs. 1000/ transaction – Sensibull: Free 0 | Lite: Rs. 800 | Pro: Rs. 1300 per month – Streak: Basic: Rs. 500 | premium: Rs. 900 | Ultimate: Rs. 1400 per month – Kite connect: Connect: Rs. 2000 | historical: Rs. 2000 monthly – Pi Bridge: Rs. 500 monthly |
| Dial-n-trade fee | Rs. 20 per order |
| Demat account opening fee | Rs. 500 (Demat account + trading account) |
| Demat maintenance charges | Rs. 300 yearly |
| Demat debit transaction charges | Rs. 13.5 per scrip |
| PIS issuance charges | Nil |
| PIS account maintenance charges | Nil |
| PIS transaction or reporting charges | Nil |
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SBICAP Securities NRI trading account charges
NRI customers can open a trading account with SBI and invest online in equities, derivatives, IPOs, and mutual funds. It offers a 4-in-1 account consisting of Demat, trading, bank and PIS accounts. SBI NRI trading charges are as under:
| Fee type | Charges |
|---|---|
| NRI trading account opening fees (one time) | Rs. 500 |
| NRI trading brokerage fees | Equity delivery brokerage: 0.75% |
| Platform access fees | Nil |
| Call & trade fee | Free 30 calls in a month, Rs. 10 will be charged each call afterwards |
| Demat account opening fee | Rs. 2500 (one time) |
| Demat maintenance charges | Rs. 750 yearly |
| Demat debit transaction charges | 0.50% per scrip |
| PIS issuance charges | Rs. 750 |
| PIS account maintenance charges | – No charges for 1st year of operation – Rs. 1000 1st year onwards |
| PIS transaction or reporting charges | Nil |
Note: A Demat account is not mandatory for NRIs to invest in mutual funds in India. NRIs can download SBNRI App to choose from 3000+ mutual fund schemes in India or to ask any questions related to mutual fund investment.
HDFC Securities NRI trading account charges
HDFC Securities offers various trading and investment services to NRIs. You can open a 3-in-1 account with HDFC including NRI bank account, Demat account and broking account. Here are the HDFC NRI trading account charges:
| Fee type | Charges |
|---|---|
| NRI trading account opening fees (one time) | Rs. 2500 |
| NRI trading brokerage fees | – Equity delivery brokerage: 0.75% – Equity future brokerage: 0.025% – Equity options brokerage: Rs. 100 per lot |
| Platform access fees | – Web & mobile app: Free – ProTerminal: Rs. 2,499 per annum – Blink: Rs. 3,999 per annum |
| Call & trade fee | Free |
| Demat account opening fee | Zero |
| Demat maintenance charges | First year: Zero; Rs. 750 from next year |
| Demat debit transaction charges | 0.04% of the value of transaction |
| PIS issuance charges | Rs. 1000 |
| PIS account maintenance charges | Rs. 1000 |
| PIS transaction or reporting charges | Rs. 100 per contract |
ICICI NRI trading account charges
ICICI Direct offers a 3-in-1 account including NRI banking, trading and Demat accounts. NRI customers can trade in a range of options including stocks, equity derivatives (F&O trading), mutual funds, and IPOs. ICICI Bank also offers other services related to NRI PAN card and Portfolio Investment Scheme (PIS), etc. Here are the ICICI NRI trading account charges:
| Fee type | Charges |
|---|---|
| NRI trading account opening fees (one time) | – UK customers: Rs. 6500 – Non-UK customers: Rs. 4000 |
| NRI trading brokerage fees | – Trade up to Rs. 5 lakh: 1.25% – Rs. 5 lakh to Rs. 10 lakh: 1.00% – Rs. 10 lakh to Rs. 25 lakh: 0.90% – Rs. 25 lakh to Rs. 50 lakh: 0.75% – Above Rs. 50 lakh: 0.50% |
| Platform access fees | Nil |
| Call & trade fee | 20 calls free per month; after that Rs. 25 every additional call |
| Demat maintenance charges | – For overseas correspondence address: Rs. 12000 – Fon Indian correspondence address: Rs. 500 |
| PIS account maintenance charges | It is waived off for the PINS account opened with ICICI Direct; Rs. 2500 charged from the next year |
Axis Bank NRI trading account charges
Here are charges applicable for Axis Bank NRI trading account:
| Fee type | Charges |
|---|---|
| NRI trading account opening fees (one time) | Rs. 2500 |
| NRI trading brokerage fees | – Equity delivery brokerage: 0.75% – Equity future brokerage: 0.05% |
| Platform access fees | Zero |
| Call-n-trade fee | 5 calls in a month are free. A charge of Rs. 20 will be charged for additional calls |
| Demat maintenance charges | First year: Zero; Rs. 750 from next year |
| Demat debit transaction charges | 0.04% of the value of transaction or Rs. 25 per instruction (whichever is higher) |
| PIS issuance charges | Rs. 1000 |
| PIS account maintenance charges | Rs. 1500 |
| PIS transaction or reporting charges | Rs. 150 per trade |
Also Read: Axis Bank NRI Account Opening: Apply for NRI Account Online
To choose the best trading account, you must draw NRI trading account charges comparison and select the one that suits your requirements.
Also Read: Mutual Funds for NRIs from USA/Canada to Invest in India
Living away from India, it is not easy for NRIs to open an NRI Trading account or NRI Demat account and make the right decision about investment in India. At SBNRI, we understand that there are many obstructions faced by NRIs while investing in India. You can download SBNRI App to connect with our experts and get end-to-end assistance related to trading account opening and NRI investment.
You can also click on the button below to ask any questions. Visit our blog and YouTube Channel for more details.
FAQs
Yes, you can use your father’s trading account. However, your father would be liable to pay income tax on gains arising from such investments. The NRI can transfer funds to his father’s account as a gift or loan, which can be linked to the trading and Demat account.
To open an NRI trading account, NRIs can approach a stockbroker or a bank that offers 3-in-1 account services. An NRI trading account is used to place the buy/ sell order with the broker.
No. Because day trading is the same as intraday trading where NRIs are not permitted to do trading.
Yes, NRIs can use a Demat account in India in the same manner as resident Indians to hold the securities in electronic format. It is mandatory for NRIs to open a Demat account to invest in the stock market. They are required to open a repatriable Demat account (NRE) or a non-repatriable Demat account (NRO) based on their requirements.
The Demat account is used to hold:
– The stocks purchased through the stock exchange as an NRI.
– The shares bought in the capacity as a resident Indian.
– Bonus shares.
– Shares received as a gift.
