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NRI (Non-resident Indians) is the person who resides outside India for varied purposes whether it is employment, business, vocation, or any other reason. Stoxkart, the growing discount brokerage serves both the residents in the country and NRIs as well. The broker offers NRI trading services through NRI 2-in-1 account; NRI Demat Account and NRI Trading Account. NRIs are allowed to trade across various products i.e. shares, futures & options, government securities, corporate FDs, bonds, IPOs, and mutual funds. NRIs who are looking to open an account with Stoxkart can check the complete Stoxkart NRI Account Review here including the account opening charges, NRI brokerage charges, document checklist, and many more.
Stoxkart provides a 2-in-1 account opening facility that incorporates two different accounts – Stoxkart NRI Demat Account and Stoxkart NRI Trading Account.
Despite this, NRIs must have a savings account with a designed bank that can be either an NRE or NRO bank account.
Note: NRIs don’t have to apply for PIS if he/she only wants to trade in derivative means futures & options trading segment.
NRIs or PIOs (Person of Indian Origins) and OCIs (Overseas Citizen of India) are two different persons. NRIs hold Indian passport whereas OCI doesn’t hold Indian passport.
OCIs consist of the following;
Both the NRIs and OCIs (Overseas Citizen of India) can invest in the Indian stock market through their NRE or NRO account.
The brokerage house offers the following NRI offerings or investment avenues;
Considerations
To open an NRI demat and trading account online, an individual must submit a list of documents to the broker;
Important Note: All of the documents must be attested by Notary, Indian Embassy banker, magistrate, judge, or any other authorized person.
Check here the NRI demat and trading account opening charges;
S. No. | Particulars | Charges |
---|---|---|
1. | NRI Account Opening Charges - Demat and Trading Account | Rs. 590 |
2. | NRI Account AMC - Demat and Trading Account | Rs. 590 |
Check here Stoxkart NRI brokerage charges for various segments as under:
S. No. | Particulars | Brokerage charges |
---|---|---|
1. | Equity delivery brokerage | Rs. 199 per order or 0.01% whichever is lower |
2. | Equity intraday brokerage | Not allowed |
3. | Equity Futures brokerage | Rs. 199 per order or 0.01% whichever is lower |
4. | Equity Options Brokerage | Rs. 199 per order or 0.01% whichever is lower |
5. | Commodity brokerage | Not Allowed |
6. | Currency Brokerage | Not Allowed |
Note: If the number of trades is above 75 per month then, the brokerage will be Rs. 149 per order or 0.01% whichever is lower whereas if it is equal to or beyond 151 trades per month, then brokerage charges will be Rs. 99 or 0.01% per order, whichever is lower.
Likewise Indians, NRI clients can invest in mutual funds with Stoxkart. They have the flexibility to undertake MF investment by any of the investment routes whether it be a systematic investment plan (SIP) or a one-time route means lumpsum investment. The broker allows completed paperless or online MF investment process to offer more flexibility and ease to users.
Yes, Stoxkart serves both Indian citizens as well as NRI clients henceforth, NRIs can open a Stoxkart Demat and trading account online. Stoxkart NRI trading requires following accounts;
NRIs can trade-in equities delivery, derivatives-futures & options, mutual funds, and others but the brokerage firm doesn’t allow trading in commodities and currencies with Stoxkart. Moreover, they can’t do equity intraday delivery.
Likewise residents, NRIs also have to submit several documents to Stoxkart that are provided below;
Yes, Stoxkart allow NRI clients to undertake investment in mutual funds via any route whether lumpsum (one-time) or SIP route. NRI clients can invest in mutual funds online.
NRIs can do online trading with Stoxkart at applicable brokerages. They can trade in equity delivery and equity futures & options segment at a brokerage charge of Rs. 199 each order or 0.01% whichever is lower. Notably higher the number of orders per month reduces Stoxkart NRI brokerage charges.
Last Updated on 2023-09-14