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Zerodha NRI Account Opening, Charges, Services Review

Zerodha Track Record Of Best Online Stock Broker In India

  • Life

    4.2

    Company Rating

  • Life

    75+

    Cities Covered

  • Life

    5 Lacs+

    Orders Per Day

  • Life

    20 Cr Lacs

    Daily Turnover

  • Life

    3+ Million

    Our Client Base

  • Life

    4.5

    Mobile App Rating

  • Life

    4.2

    Company Rating

  • Life

    75+

    Cities Covered

  • Life

    5 Lacs+

    Orders Per Day

  • Life

    20 Cr Lacs

    Daily Turnover

  • Life

    3+ Million

    Our Client Base

  • Life

    4.5

    Mobile App Rating

 
 
 

Zerodha Account Opening Enquiry

 
 
 
 

Zerodha NRI Account Opening and Review

Zerodha is the biggest stock broker in India in terms of the highest active clients. It was founded by Nitin Kamath, the CEO of Zerodha. They started their operations from 15th August 2010 in Bangalore. The only motive on which Zerodha focused on was to break the barriers that traders and investors usually face in terms of cost, support, technology and other trading platforms. The Zerodha pricing structure and in-house technology successfully stands out and this makes it the largest and popular stock broker in India.
Zerodha is a Bengaluru based stock broker company that offers various online discount broking services to both the resident and non-resident Indians (NRIs). This stock broker offers 2-in-1 account to NRIs that include a NRI trading account and a NRI demat account linked to each other.

Zerodha NRI Trading Account
The largest stock broker of India which was incorporated in 2010 provides various services to its customers which are:
a) Zerodha NRI Trading Account.
b) Zerodha NRI Demat Account.
Zerodha NRI Trading account allows a customer to buy and sell securities across the BSE and NSE.
Zerodha NRI Demat account holds the securities in electronic format. Different from other countries where securities stay with the broker. In India the equity shares, mutual funds, ETFs, NCD etc. securities are held in the demat account.
Zerodha accounts are opened and managed by government mandated central depositories CSDL and NSDL. The role of the broker is limited to acting just as an intermediary between the customer and central depository. Zerodha NRI demat account offers a secure repository of securities similar to the bank account where we keep the money.
Zerodha offers its customers the stock trading and investments services to NRIs in partnership with the third-party companies:
• NRI bank account: HDFC bank, IndusInd bank, IDFC FIRST Bank and Axis Bank.
• Custodial Account- Orbis Financial Corporation Limited.
• Demat Account- Central Depository Services Limited (CDSL)
Note: The custodial account (CP Code) is required for trading in equity derivatives (F&O) segment.
Zerodha NRI brokerage charges is 0.1% or Rs.200 per executed order (whichever is lower) for equity trades by NRIs. It charges Rs.100 per order for F&O trading by NRIs.
It offers a range of online trading applications for trading and analysis. NRI can only trade in delivery-based stocks and derivatives. No Intraday trade on stocks are allowed. Currency and commodities trading are also not allowed to NRIs.
Zerodha does not offer Mutual Fund (MF) investment to NRI customers through its signature Zerodha coin platform for mutual funds.

Zerodha NRI Demat Account
Zerodha NRI demat account is offered through its CDSL membership.
Highlights of Zerodha NRI Demat Account:
a) Zerodha NRI demat account is the same as demat for residents of India.
b) Zerodha NRI account opening application form is similar to each other.
c) During the NRI account opening process, an NRI customer has to choose account type as NRI and subtype as Repatriable or non – repatriable.
d) An NRI Bank account (NRE or NRO) has to be linked with a demat account.
e) The dividend/interest is credited directly in this account.
f) An NRI demat account can have another NRI or a resident of India as the nominee.

Zerodha Trading process
Below is the step-by-step Zerodha NRI trading procedure for trading in Equity Delivery Segment.
1. Fund Allocation: The customer can transfer funds from Zerodha NRE/NRO bank account to your Zerodha PIS bank account. The bank informs Zerodha on how much funds you have allocated. This is then updated on the trading account as an available limit.
2. Placing Order: To place orders of buying and selling shares the customer uses trading software such as Zerodha Kite Mobile App or website.
3. Settlement of Fund: Zerodha sends the contact note to the bank at the end of the day. As per the bank debits fund from PIS account and credits it to Zerodha. When a customer is selling the stocks from demat, Zerodha sends a sell contract note to the bank. It also credits the PIS bank account with the proceeds from the sale. The two separate notes are sent to the bank at the end of the day; one for buy all transactions and another for all sell transactions.
4. Settlement of Stocks: It credits the stocks in the NRI account. In case of sale, the stocks are debited from the NRI demat account and delivered to the buyer by Zerodha.

Zerodha NRI Trading Account Charges
Mentioned below are the NRI brokerage charges for trading in Equity and Equity Derivatives:


TRANSACTION

FEES CHARGED

Charges for NRI account opening

₹500/-

AMC for NRI account

₹0/-

Equity Delivery Brokerage

0.1% or maximum ₹200/- per trade

Equity Future Brokerage

₹100/- per trade

Equity Options Brokerage

₹100/- per trade

Other charges

Demat account AMC: ₹300/- yearly


Opening a NRI account
A Non-Resident (NRI) may open a demat and trading account with Zerodha by simply linking his/her Non-Resident Ordinary (NRO) or Non-Resident External (NRE) savings bank account. NRIs aren’t allowed to trade the currency or commodity markets in India. To open a demat and trading account, a PIS (Portfolio Investment Scheme) from RBI (Reserve Bank of India) is required. The bank where you opened an NRI/NRO account will help you to obtain a PIS permission letter after providing a certain set of documents.
The certain set of documents that are required to be sent along with the printed and filled up account opening form while opening a NRI demat account and NRI trading account with Zerodha:
1. Copy of PIS Permission letter.
2. Copy of FEMA Declaration to Zerodha Broking Limited.
3. Copy of PAN card
4. Overseas Address Proof- Copy of Driving License/ foreign passport/ utility bills/ bank statement (not more than 2 months)/Notarized copy of rent agreement/ leave and license agreement/ sale deed.
5. Indian Address proof (If any)
6. Passport Size photograph.
7. In case of Indian passport: Copy of valid passport with the place of birth as India and copy of valid Visa.
8. In case of Foreign Passport: Copy of valid passport, copy of PIO/OCI card.
9. Proof of Bank account (a cancelled cheque leaf of your NRE or NRO savings bank account).
10. Declaration of P.O. box in your residing country.
11. Foreign Account Tax Compliance Act (FATCA) declaration form.

How to open a Zerodha NRI Account?
1. Open a NRI bank account with HDFC bank or IndusInd Bank or IDFC FIRST Bank or Axis bank.
2. Get PIS permission from RBI (With the help of your bank)
3. Open a custodial account with ORBIS and receive CP code (if plan to trade in F&O)
4. Collect Copies of all the necessary documents.
5. Download the PDF Account Opening Form.
6. Fill the application form.
7. Scan the filled forms and supporting documents.
8. Send them through the email for verification to Zerodha NRI desk.
9. If everything seems right to you then you can courier the documents to Zerodha Bangalore Office.

Some Points to Remember:
• It takes between 3 to 5 working days to open an Zerodha NRI account once after the documents are received.
• The customer can open both the NRE and NRO account with the bank. However, the customers can map only one of the accounts (NRE or NRO).
• Mapping the customer’s NRE account with the trading account will enable you to trade in the Equity segment whereas, by mapping an NRO account, you can trade in both equity and derivative segments. To map both the accounts you are required to open two trading accounts.
Zerodha NRE or NRO accounts are supported with HDFC Bank, Axis Bank, IndusInd Bank and IDFC FIRST Bank.
• The NRI clients can trade only in equity and equity F&O.
• It does not offer NRI trading on Intraday, currency and commodities.

Advantages and Disadvantages for Zerodha NRI Trading Account
1. The discount stock broker offers trading at very low brokerage charges. Zerodha charges Rs. 200 per order whereas full-service stock brokers charge on an average 0.75% of the order value. For example: If you trade for Rs. 1 lakh, you pay Rs. 750 with full-service stockbroker whereas Zerodha will just charge Rs. 200.
2. It is the largest stock broker in terms of the active customers.
3. It offers access to the best industry trading software and tools.
4. It supports HDFC Bank, IndusInd Bank, IDFC FIRST Bank and Axis Bank NRI Bank account.

Disadvantages:
1. It does not offer 3-in-1 accounts. Only offer trading and demat accounts. So, you have to first transfer the funds from your PIS account to Zerodha trading account before trading.
2. It does not offer Mutual funds to NRI customers.
3. It does not provide research reports or analysis.
 



Frequently Asked Questions


Zerodha do not offer home pickup service of account opening forms. The customer is required to courier the forms at Zerodha Bangalore office. The forms can also be filled online.
Yes. Zerodha’s free Kite trading platform provides advance technical charts. The advance charts are provided by Zerodha are among the best in the Industry.
No, at present the investing in stocks is listed in foreign stock exchanges is not possible through Zerodha. If you are still wishing to invest in Apple, Google, Facebook, etc. then mutual funds are the easiest way.
Zerodha is completely an execution platform only. It does not provide any form of advisory or tips. We believe that traders and investors should make educated and informed trades based on the research and analysis.
Zerodha is an online discount brokerage model where only online trading services are offered to the customers or traders. It uses the latest and advance technology to serve its customers and has less branches and offices. The technology helps its customers to scale and reduce the operational cost which in-term helps them to maintain huge profits despite offering low-cost trading.
Zerodha charges an amount of ₹20 per executed order or .03% whichever is lower for equity, currency and commodity futures trading.
No, Zerodha does not provide the margin funding facility.
Yes, some of the services provided by Zerodha are free. It offers Mutual fund investment and brokerage free equity delivery trading. The brokerage fee for Intra-day and F&O trading is ₹20 per executed order or 0.03% (whichever is lower).
Yes, the BTST i.e. buy today- sell tomorrow facility is available in Zerodha. It allows the traders to sell shares before they deposit into your demat account on T+2 days.
Zerodha does not provide interest on the money that is held in the trading account. It does not accept any personal Fd’s as margin for trading.
Zerodha offers the service to place AMO orders. These AMO orders are placed after the market hours for the next trading day in advance. AMO (After Market Orders) allows the customers to place online buy/sell order before the stock exchanges are open for trading. The order timing for AMO order changes by the trading segment.
No, Zerodha doesn't offer any trading account on minor's name even if you are below 18 years, you can not open a trading account.
No. A customer can open only one trading account or demat account with Zerodha. You cannot open two trading accounts with same PAN number with Zerodha. Note: You can open other trading or demat account with the same name and PAN number with other brokers. But this can't be done with one broker because of SEBI regulations.
LTT in Zerodha stands for Last Traded Time. The last traded time shows when a particular share or contract was last bought or sold. It helps the traders to know the demand for a particular share on that particular day.
No, it is not compulsory to maintain a minimum balance in the Zerodha Trading account.
If the customer wants to change the bank account that is linked with their Zerodha account. The customer needs to submit the 'Account Modification Form' with a bank proof document. The steps to change the Zerodha bank account are: 1. Visit the Zerodha website 2. Move to the 'Download & Resources' section. 3. Download the 'Account Modification Form' 4. Fill the form, sign it and get a print out. 5. Attach the bank proof documents like bank statements, cancelled cheque etc., along with the form and send it to the Zerodha Bengaluru office.
Yes. Zerodha offers trading in forex but as per NSE we can trade only in USDINR, EURINR, GBPINR and JPYINR in India with any stock broker. You can trade in currency derivatives at BSE and NSE exchanges using the Zerodha trading account. The customer needs to enable the currency trading segment before starting the trading in currency.
CNC stands for Cash and Carry. It is simply a product code and if you use them to buy and sell shares on the same day, they will still be considered as Intraday trade. NRML (Normal) is used for overnight trading for futures and options.
In Zerodha the customer has to open a demat account along with the trading account. It does not allow linking of its trading account with a demat account from some other depository participant (DP). Note: • You can have multiple demat accounts if you want on your name with different brokers. • You can continue holding your Sharekhan demat account if you wish to do so. • You could transfer all your holdings in the Sharekhan demat account to Zerodha demat account at the time of closing the Sharekhan demat account. It is a simple process.
The Margin for Zerodha is reduced across all the segments including Intraday at BSE, NSE and MCX on 2 January, 2019. It is in line with the new margin policy introduced by SEBI. As per the policy, the brokers cannot offer ab additional margin to customers. The margins are now prescribed by the exchanges and are the same across the brokers.
Once you apply in Zerodha for opening an account, it takes 24-48 hours to get activated. Any kind of discrepancies in the submitted forms or documents can delay the account opening process.
An individual need to have 3 accounts i.e. Trading, demat and a bank account. Zerodha offers trading and demat account services to its customers. Trading account is required to place buy & sell orders and the demat account is required to hold all the bought securities in electronic form. The trading and demat account of the customer are linked to their bank account.
Zerodha is safe as any other stock broker in India. It is a genuine and the trusted stock broker and comes among the lowest risk broker in India. It is a debt free company and they only offer broking services. In the last 9 years, there is no single major violation has been reposted. Thus, it is the safest stock broker of India.
Zerodha offers truly brokerage free equity delivery trading and mutual fund investment. It charges flat Rs. 20 or 0.03% (whichever is low) per executed order for intraday trades.
Yes, Zerodha favorable for long term investors. Zerodha offers the Equity delivery brokerage at free. It automatically brings down the trading costs thereby helping a lot of money in the long term. It also offers commission-free direct mutual funds that results in additional earning of 1% yearly.
The SMS facility in Zerodha is optional and is charged at Rs. 1 per SMS.
You can place an MIS buy order in one exchange and the MIS short order in the other exchange. However, by the end of the trading day, both of these trades are required to be squared off individually on each exchange.
NFO stands for New Fund Offer. An NFO is the first time when a fund is offered for subscription by an AMC. The customer cannot invest in NFO through Zerodha Coin currently. However, you can buy NFO from the AMC directly.
All the orders will get squared off before the end of the day. IOC stands for 'Immediate or cancel'. It means that the order is executed as soon as it is released and in case the order fails to execute, then it is immediately canceled.
The Z Pin is the 4-digit telephone code. This is the customer’s personal identification number. This number is required to place orders through the call, trade desk and to raise support requests. Whenever the customer will call Zerodha customer support or call & trade desk, he/she have to authenticate themselves using the Z Pin code.
Yes, Zerodha offers trading in foreign exchange (currency). The customers can trade in currency derivatives at BSE and NSE exchanges simply by using the Zerodha trading account. The customer is required to enable the Currency trading segment before he/she start to trade in the Forex.
Discount brokers are the brokers that offers only online broking services to its customers and at a very low-cost. Zerodha discount broker uses the latest computer technology to offer online trading services to millions of customers. The brokerage charge for discount brokers are usually less than the traditional full-service brokers. Zerodha is an online discount broker.
The Zerodha is a depository participant of CDSL depository. This means it works as a service agent for demat account which is held by CDSL, one of the two central depositories.

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