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Prostocks NRI Account: Your Gateway to Global Investments | Garv Thakur Brokerage

 
 
 
Prostocks Account Opening Enquiry
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ProStocks NRI Account Review | Charges, Services

ProStock India offer one of the fastest growing online Stock brokers. The firm provides low-cost flat fee trading plans to the traders and investors. It provides various advanced trading platforms to the investors. All the trading software and tool are available for free. The stockbroker provides excellent risk management facility, customer service and client focus. These qualities make it stand out from the other stock brokers.

ProStocks NRI account opening facility is available to the customers. It charges flat ₹100 per executed order as ProStocks NRI account brokerage charges. With its online eKYC process, the customers can register themselves online and receive OTP on their registered mail for NRI India stock trading. Further, they can fill the application form online, print or courier whichever is suitable for them to stock broker for NRI. Once the account set up process completes, the customers can trade on various ProStocks Trading platforms i.e., ProStocks Desktop, ProStocks Web, and ProStocks Mobile Application and much more.

ProStocks NRI Account Details

ProStocks NRI stock trading in India/ NRI buying stocks in India allows the abroad clients to buy and sell the equity shares, mutual funds, ETFs and Equity Derivatives. The Stock broker offers its NRI Trading Services to the customers by providing them NRI Trading and Demat Account. NRI stock trading tax is applicable as per government standards. NRIs have to link their existing NRI bank account to their demat and trading account to trade in India. The stock broker has collaboration with 5 bank accounts viz. Axis, HDFC, Kotak, Yes and IndusInd Bank. NRI customers with other bank accounts cannot open their NRI account with ProStocks.

Note: NRIs are not allowed to invest across the Equities, Equity Futures and Options on the NSE and BSE. They are not allowed to the Intraday Trades in stocks, as per the RBI Guidelines.

Documents Required to Open a NRI Account with ProStocks

1. FATCA Annexure duly filled and signed.
2. Attested PAN Card.
3. Attested Copy of Overseas Address Proof- Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not more than 2 months)/Copy of Rent Agreement/ Leave and License Agreement/Sale deed.
4. A self-certified copy of Indian Address Proof. The Indian Address Proof is mandatory for the NRO Account.
5. Passport Size Photographs.
6. Indian Passport: Copy of Valid passport with the copy of Valid Visa.
7. Foreign Passport: Copy of Valid passport with copy of PIO/OCI Card.
8. Bank Account Proof- It can be a cancelled leaf of NRO savings bank account.

ProStocks NRI Demat Account

ProStocks is a Depository Participant (DP) of CDSL by which it offers the demat account. NRI Demat account is one of the major offerings of ProStocks. NRI Demat Account helps the NRIs to keep the securities in electronic format. The demat account is very similar to the normal bank account. The only difference is that it holds shares instead of money.

Features of ProStocks NRI Demat Account
1. There is Zero account opening fees.
2. The AMC charge for Demat Account is free for lifetime with the refundable deposit of ₹1000.
3. This account holds shares, mutual funds, and ETFs in the electronic form.
4. The abroad clients can open their joint account with an Indian Citizen.
5. It provides an online access to demat accounts.
6. It allows the automatic credit of bonuses, and the dividends that are earned from the securities to the linked bank account.

ProStocks NRI Trading Account

NRI buy stocks in India it allows the NRIs to buy and sell the equity shares, mutual funds, ETFs and equity derivatives.

The customer can get their Non PIS Trading Account opened under ProStocks and can initiate trading like an Indian Resident in the Indian Stock Market. The NRI clients can trade without a PIS enabled bank account with ProStocks. This makes the process easier and to procure PIS and manage transactions between the trading and demat accounts. ProStocks Non PIS NRO account has to be linked with the client’s bank account.

NRI Account Opening Process in ProStocks

1. Visit the ProStocks Website.
2. Register on the website by filling the form. Enter the personal details such as name, mail Id, Select status as Non-Resident, Country Code and Mobile Number.
3. Select “Generate OTP” option. An OTP will be sent to your mail address.
4. Login by using your login credentials. Fill the basic information such as PAN Card details, DOB, Name etc. with type of account client wishes to open.
5. The eKYC has five sections such as Basic Information, Preference details, Additional details, Select and pay and then submit the documents by filling all the required details.

Benefits of Opening a NRI Account with ProStocks

• The account may take 3 to 5 working days to get opened after receiving the documents.
• There is no fee charged for opening a NRI Account.
• The NRI clients are not allowed to invest in the currency and commodity segment. The trading in Intraday is also not allowed.
• The client can open their NRE and NRO savings bank account under a single PIS scheme separately.
• The NRI client can open their NRI Account with Axis, HDFC, Kotak, Yes and IndusInd Bank to invest by ProStocks trading and demat account.






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Frequently Asked Questions

1) The KYC team sends an email about the receipt of the documents once all the account opening documents are received. 2) The team will verify the documents and request the customer for IPV, if required. 3) After completing the IPV, customer will receive a welcome call and will validate the details. 4) As soon as the verification is completed, a welcome mail will be sent to the customer with all the account related information.
You will receive a transaction statement every month if you have done any transaction or once in a quarter if there is no transaction during the period.
ProStocks offer Zero AMC Demat Account. Unlike other brokers, customers is not required to pay any annual fees. The ProStocks demat account without AMC is for all its customers including Individual, Corporate and NRI.
Prostocks do not charge any AMC for trading or demat account. ProStocks safeguards your account with zero maintenance charge.
ProStocks depository allows you to change the name of the corporate demat account and the existing account can be continued.
Yes, a depository account can be opened in ProStocks with the names of four holders but the account can only be used for dematerialization of shares that are held in the same combination. No shares can be credited by purchase or transferred from any other account. Hence the standing instruction for credits will be “N” for such accounts.
ProStocks will open your account on the same day after duly completing the account opening documents that are given in the office, in case you are already KRA compliant and In person Verification(IPV) is not required. If the IPV is required , then the ProStocks will open the account within four working hours post IPV. You will be able to trade from the next day subject to transfer funds for margin in the trading account with ProStocks.
Yes, NRIs can invest in stocks on delivery basis.
Yes, the customers can link with more than one bank account to your Prostocks trading account. There are no restrictions on the number of bank account you can link. It is advised to link all the bank account so that the customer can transfer the funds from any bank account they hold.
Nomination can be done either at the time of account opening or later. The Nominee name and address is to be provided by the account holder. The account holder is required to sign before the two witnesses.
Yes, demat account has several charges associated with them.
All the funds transfer request is received up to 5 PM on working days are credited to the client account electronically on the next working day.
No, all the trading applications that are provided by ProStocks are free. They do not charge for BSE BEST trading application even when you trade for NSE exchange in BSE BEST.
The customers are advised to contact customer care in case of any discrepancies.
Yes, Prostocks provide mobile application for android and iOS. The app is available on both the Android and iOS. The application is named as ProStocks KeyStone back office.
ProStocks has multiple pricing plans available to suit the trading needs of the customer. The customers can change the pricing plans anytime by contacting the customer support desk.
ProStocks margin in F&O segment is 1 times of the trade value.
Each NRI can purchase the maximum of 5% equity shares of listed company subject to overall limit for the listed equity shares of each company on repatriation benefit basis. NRI investment in equity shares of listed company without repatriation benefit is treated at par with Indian resident and there is no upper limit.
ProStocks margin in Options is 1 times of the trade value.
An intraday position trades are resulting from order types MIS and CO will be squared off at the pre specified time.
If an investor is willing to avail the services offered by Prostocks, then the investor has to open an account with Prostocks.
ProStocks provides Zero annual maintenance charges account. There are no account opening charges, no inactivity charges. It collects ₹1000 refundable deposit.
To open a demat account in CDSL, register yourself with a stock broker which is a depository participant of CDSL.
Being a new entry in the financial industry but it is a legitimate safe and reliable stock broker. The firm has received a good market share in a short time period owing to its low-cost pricing, advanced trading platform and faster customer service.
You can download KRA modification form available at the download section of ProStocks website or take the first page from KYC which is a KRA form. Fill in the information that you wish to change besides the name and PAN number in the KRA form, sign it and attach the self-certified PAN Card Copy.
Client can pick and choose one or more segments from the list below: 1) NSE- Equity Cash Segment. 2) NSE- Equity Future and Options Segment. 3) NSE- Currency Futures and Options Segment. 4) BSE- Equity Cash Segment. 5) BSE- Equity Futures and Options Segment. 6) BSE- Currency Futures and Options Segment. Note: The customer is required to select atleast 1 trading segment at the time of account opening.
ProStocks DP ID is 12083200.
Margin limit in ProStocks is up to 5 Times in Equity intraday segment.
Prostocks provide SMS alert facility for demat account holders where by the investors can receive alerts for debits (transfers) to their demat accounts, credits for IPO and offer for sale allotment, sub-division and bonus.

Prostocks Reviews