Kotak Securities NRI Trading 2024

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Can NRIs trade with Kotak Securities? Yes, full-service broker Kotak Securities offers NRI trading services. NRIs who wish to invest in the Indian market can open an NRI Trinity or an NRI 3-in-1 account (Trading + Demat + NRE/NRO with PIS account) with the broker. Here is a complete guide on opening an NRI account with Kotak Securities, NRI account opening fees and brokerage charges, available NRI trading platforms, and more.

With an NRI account with Kotak Securities, you can buy and sell shares listed on the BSE and NSE, invest in IPOs and mutual funds, and trade in the equity derivatives segment.

Kotak Securities NRI Account Features

• Seamless fund transfer through an integrated 3-in-1 NRI account
• Invest in equity and trade in equity F&O using an NRO account
• Trade on fingertips using Kotak Stock Trader App
• Invest in ETFs, IPOs, and mutual funds
• Access to Kotak’s research i.e., sector research, company’s research reports, etc.
• Branch offices in London, New York, Singapore, Dubai and Mauritius
• Learn stock market education with Kotak Securities Academy
• Trade on the phone using the call & trade facility
• Place AMO (after market orders) and GTC (Good Till Cancelled) order

Kotak Securities NRI 3-in-1 Trinity Account

As an NRI, you can open an NRI Trinity 3-in-1 account (Demat + Trading + CASA/PINS) with Kotak Securities. For this, fill out the 3-in-1 NRI account opening form and send it along with the scanned KYC documents to [email protected].

NRI NRE or NRO Bank Account with Kotak Mahindra Bank

Kotak Securities, which is part of Kotak Mahindra Bank, allows non-residents to open a NRE (Non-Resident External) or NRO (Non-Resident Ordinary) bank account.

The NRE account allows foreign nationals to deposit their foreign income and invest in the Indian stock market. On the other hand, the NRO account is used for depositing money earned in India such as rental income, dividends, etc. NRE accounts can be fully repatriated while NRO accounts are subject to repatriation limits up to USD 1 million.

NRI PIS or non-PIS Account

NRIs bank accounts are divided into two categories: PIS accounts and non-PIS accounts. PIS or PINS (Portfolio Investment Scheme) is a mechanism developed by the RBI to invest in Indian companies on a repatriation (through an NRE account) or non-repatriation (through an NRO account) basis.

NRE bank account holders are required to obtain PIS approval from RBI-designated banks to buy and sell shares listed on the NSE and BSE. However, this is not mandatory for NRO account holders.

At Kotak Securities, NRIs can only have an NRI-PIS account as the full-service broker does not offer a non-PIS NRI account.

Know more on the NRE PIS Account

Know more on NRO Non-PIS Account

NRI Demat Account

Kotak Securities is a CDSL and NSDL DP and offers depository or demat account opening services. The NRI demat account is used to hold shares, mutual funds, and other securities in digital form.

NRIs can open two types of demat accounts with Kotak Securities.

• NRE repatriable demat account
• NRO non-repatriable demat account

NRI Trading Account

The trading account is used to place buy and sell orders in equity and equity derivatives (F&O) on the NSE and BSE. NRIs cannot trade in the equity intraday (MIS), commodities, and currency segments.

If you are an NRI and already have a savings and PINS (Portfolio Investment Scheme) account with Kotak Mahindra Bank, you can open an NRI 2-in-1 (Trading + Demat) account with the broker. All you need to do is fill out the NRI 2-in-1 account opening form and send it to [email protected] along with the required KYC documents.

NRIs based in the US and Canada cannot open an NRI trading account with Kotak Securities.

Kotak Securities NRI Account Opening Documents

To open a NRI trading account, you have to provide the following set of KYC documents to Kotak Securities;

• Passport-size photographs
• Copy of Visa or Passport
• Scanned copy of PAN Card
• PINS letter from Kotak Mahindra Bank as a Bank proof
• Address proof: Aadhaar card, passport, voter ID, driving license, etc.
• Income proof: A copy of latest bank statement is only required to trade in equity F&O segment..

All KYC documents must be attested by one of the authorities i.e, public notaries, judges, Indian embassy, court magistrate, etc.

Note:

• Derivatives trading is only available for NRO account holders.
• To activate the F&O segment, NRIs need to get in touch with an account manager and submit the latest account statement as proof of income.

Kotak Securities NRI Trading Platforms

Kotak Securities offers web and app-based platforms to NRI clients.

• Kotak Securities Stock Trader App: NRIs can trade on the go with the old Kotak Stock Trader App. They can create customized watchlists, view advanced charts, get complete stock information, and access real-time market news and events. The Kotak Stock Trader app is free and can be used on all Android and iOS-compatible devices.
• Kotak Securities Website: NRIs can also trade on the Kotak Securities Trading website. You can access or log in to the web platform using any browser and invest in Indian companies.

NRIs cannot trade using the new Kotak Neo app or website.