Angel Broking NRI Account Opening, Charges, Services Review
Angel Broking Track Record Of Best Online Stock Broker In India
Angel Broking NRI Account Opening, Charges, Services Review
Angel Broking is a leading full-service stock broker in India. It provides trading services to both resident and Non-resident Indians (NRIs). It facilitates its customers with 2-in-1 accounts to NRIs combining a trading and a demat account linked with each other. NRIs can use the account to trade in the stocks, equity derivatives, and IPOs.
The company offers research advisory services wherein daily, weekly and rollover reports are published on economic and market trends. The angel broking research team also provides recommendations on top stocks, IPOs and other investment instruments.
It does not offer Mutual Fund services. Thus, it offers Portfolio Management Services (PMS) wherein the customized solutions are designed to meet various investment goals. It offers a range of online trading applications for trading and analysis.
NRIs are allowed to purchase stocks and convertible debentures of a domestic organization through stock exchanges. These types of investments are made under the Portfolio Investment NRI Scheme (PINS) either on repatriation or non- repatriation basis.
NRI Account Opening
The guidelines of the Reserve Bank of India (RBI) mandate NRIs to open a trading account with a designated institution authorized by RBI. They must avail either a Non- Resident Ordinary (NRO) or Non- Resident External (NRE) account to route the various investments.
You need an NRE or an NRO account to open a trading or demat account with Angel Broking. These accounts will store all your capital investments. It is a compulsory requirement that is laid out by the Reserve Bank of India (RBI).
Angel Broking offers two types of accounts for the NRIs. These two types of accounts are offered only when the customer has an NRE or NRO account with them.
PINS Account- This account enables you to buy and sell the equites in the Indian Stock Exchange. This PINS account can be a NRE PINS account or NRO PINS account based on the bank account you have created.
You can repatriate your transactions in any foreign country by using an NRE PINS account. You cannot repatriate your transactions if you hold an NRO PINS account, the funds can only be placed within India.
NON-PINS Account- if you hold a NON-PINS Account then you can take part in transactions in IPOs and invest in Mutual Funds. This account is also divided into NRE and NRO accounts.
You cannot repatriate your funds to the country of your residence, if you hold an NRO Non-PINS account. This account allows you to trade in Futures and Options.
Opening NRI Account
To open a NRI Account, you must follow the steps below:
1. If you are currently in India then you can visit the nearest Angel Broking branch and ask them to open an account.
2. If you are outside India, then you can contact their customer support team . the details for the customer support team are at the end of this page.
Documents Required to Open a NRI account
There are certain sets of documents that are required at the time of NRI account opening. The documents to be submitted are:
• Passport copy, employment visa or work permit
• Address proof
• A PINS permission letter from an authorized dealer.
• PAN card
• Passport size photographs
• Bank statement
These documents are to be attested with the application form in order to open a NRI account.
Benefits of Angel Broking NRI Account
1. It is a flat-fee stock broker that offers trading at a low brokerage charge.
2. It offers access to good and latest trading software and tools.
3. It serves and provides an excellent research advisory service.
4. It offers a 2-in-1 account facility that connects your demat and trading account with each other.
Note: It does not offer Mutual Funds to NRI customers.
Frequently Asked Questions
Angel broking has an offline presence in around 10,000 offices across the different parts of India. Thus, from industry experience it is among the safest brokers.
You will receive your DP statements on a quarterly basis.
Yes, you can buy the trading software directly from BSE. We at Angel broking don’t recommend doing so as the software is very costly (Approx 15 lac) and it allows trading only on BSE.
No, since the password is only with you no one can do trade using your mobile phone. We keep the password in encrypted formats so that no one can sell your shares apart from you. It is advised to keep your password safe with you.
No, you don’t need a demat account to trade in currencies.
The minimum brokerage amount that is charged as per the agreed brokerage slab is Rs. 30. If you are unable to generate a brokerage of Rs.30 on any provided trading day, then you will be levied with an additional brokerage up to Rs.30 or 2.5%, whichever is lower in a particular segment.
No, we don’t have any fixed brokerage option.
The withdrawal amount will get deposited in your bank account within 30 minutes.
No amount is charged for closing the account.
Angel Broking provides the exposure of 2 times the margin amount.
Yes, you need to pay brokerage even if you are in loss.
No, currently the BTST service is not available with Angel Broking.
Yes, you can block funds for an IPO. The client is required to submit the signed ASBA application form that is pre-filled with the application details. There is no need to provide cheque. The funds would be blocked in the bank account that is mentioned in the form and the funds will get released if the shares remain unallotted.
Yes, you can trade now on Rs.15 brokerage per order depending on the size of the order.
The cash back gets credited as the prepaid brokerage to your account and is valid for the period of 6 months from the date of your account is activated.
It is a facility with which you can easily transfer funds to your bank.
To place a margin order, follow the steps mentioned below: 1. Login with your Angel broking account using the Mobile app. 2. Search the scrip using buy or sell on the Menu or select the scrip in the MW. 3. You will see a buy order pad as you click on the search result, navigate from the menu and select the scrip from MW. 4. On the order pad select the product type as Margin. 5. Confirm the order by adding other details and your order will be placed.
Yes, you need to have money in your trading account before placing an order.
Yes, you will receive an online confirmation of orders and trades. The status of any order gets updated on a real-time basis in the Order Book. As you place your order they are immediately validated by the system and then sent to the exchange for execution. The entire process is completely automatic and there are no manual interventions. You will also receive an email that will confirm the order placed by you at the end of the trading day. The digitally signed contract notes will also be sent through e-mail for the orders that are executed during the trading day.
Generally you need an amount of Rs.20,000 to trade commodity contracts. But it depends on what contract you buy.
Yes, the customers need to have money in their trading account before placing any order. On the other hand, if you have some sold shares, then the sale proceeds can be used to buy the shares you want.
It is a standardized forward contract which can be easily be traded between parties other than the two initial parties to the contract.
The branches of Angel broking are well-spread across the different parts of India. It has a wide network of 11,500 sub-brokers and franchises in tier 1, tier 2 and tier 3 cities and towns of the country. Its broad network is among the top propositions to its clients.
It is a lending facility where the clients can avail the loans to trade in shares (Cash Segment of BSE and NSE) against the margin amount. The investor pays only an agreed margin of the total value of shares bought and the remaining is funded by the firm.
Margin Funding is beneficial to the investors who trades on delivery basis and holds the investment. As per the Exchange guideline, debit is not allowed in broking beyond T+7 to take high exposure.
A futures contract is simply a standardized forward contract that can be easily traded between parties other than the two initial parties of the contract.
You can start with any amount that you are comfortable with, but we at Angel broking recommend our customers to start with the substantial amount of Rs. 25,000.