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Achiievers NRI Account Review


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Achiievers Equities Ltd is a discount broker offering investment services to the resident as well as non-resident investors. It offers a 2-in-1 account, integrating trading and demat accounts, for all types of investors. NRIs can use the account to trade only in the equities segment. The broker doesn't allow equity derivative trades and investments in mutual funds to NRIs.

Achiievers Equities charges brokerage as per traditional plan from NRIs where equity delivery is charged at 0.50% per executed order.

The broker offers the NSE NOW trading platform for NRIs and resident Indian clients. Investors can trade and invest through mobile, desktop and web versions of the platform. Achiievers Equities has SharePro Air back-office tool to help the clients in accessing transaction details like DP holdings, ledgers, balances, dues, obligations, portfolios and other information from anywhere.


Achiievers Equities NRI Account

Achiievers Equities doesn't offer banking services to the clients. The investors can open an NRI savings bank account with 3rd party bank and link it with the Achiievers trading and Demat account. Here are the accounts NRIs have to open before opening account with Achiievers:

1. PAN Card

To trade and invest in India, you need to provide your PAN Card. The PAN Card is obtained by filling up Form 49AA online through the websites of UTIITSL and NSDL.

The PAN Card is issued by the Income Tax Department in India. If you already have a PAN Number as resident Indian, you do not need a new PAN number.

2. NRI Bank Account (NRE or NRO)

To trade and invest across different segments at Achiievers, the NRIs have to open an NRI savings bank account with Yes bank in India. NRIs need to open NRE and NRO accounts to trade in various securities. The NRE account is mandatory for trading in equities while the NRO account is needed for investing in other securities.

3. RBI PIS Letter

NRIs are allowed to trade and invest in Indian stocks only after getting PIS permission from RBI. Yes bank will help NRIs in getting PIS permission.

Note: Achiievers doesn't allow NRI trading in the equity derivatives segment. So, NRIs are not required to open custodian account with Achiievers Equities to settle trades in the equity derivative segment.

4. Achiievers NRI Trading Account

Achiievers Equities offer a 2-in-1 account including NRI trading and Demat account for non-resident Indians.

An NRI needs a trading account to access BSE and NSE place buy/sell orders. The trading account is offered through Achiievers membership with BSE and NSE.

The NRI Trading Account is linked with NRI Demat Account and NRI Bank Account.

5. Achiievers NRI Demat Account

Demat account is mandatory in India to hold the securities in the electronic format. Achiievers Equities allows depository account with CDSL for NRI investors.

Key Points about Achiievers Equities NRI Demat Account

  • Online investment facility to invest in equity delivery segment
  • Reduce the risk of physical theft and damage.
  • Can access the account online at any time and from anywhere.
  • Transfer of securities happens faster.
  • Dividends and bonuses are auto credited in the linked NRI bank account.
  • Automatic credit and debit of securities based on buy and sell requests.
  • Easy to check the transaction and holding details.

Achiievers Equities NRI Trading Process

Achiievers offers online trading platforms to NRIs to facilitate convenient trading. Once you have opened Yes NRI Bank accounts and Achiievers 2-in-1 trading account, you're set for online trading. The step-by-step Achiievers Equities NRI trading procedure for trading in equity delivery segment is mentioned below:

1. Place Buy/Sell Order

Place a buy or sell order through trading platforms for mobile, web and desktop. The risk management system (RMS) checks the availability of funds or shares in the respective accounts. If sufficient funds/shares are available in the account, the order is executed at the stock exchange.

2. Credit/Debit Demat Account

Based on buy or sell order type, the Demat account is credited or debited with shares, respectively. The NRI bank account is debited and credited with money to buy and sell securities.

3. Reporting to RBI

At the end of the day, all the buy and sell transactions are informed by the broker to the bank. Further, the bank reports to RBI under the portfolio investment scheme (PIS).

Note: The broker reports buy and sell transactions separately in the two contract notes.


Achiievers NRI Trading Account Charges

Achiievers NRI brokerage charges for trading in Equity and Equity Derivatives.

TransactionFee
NRI Account Opening Charges
NRI Account AMC
Equity Delivery Brokerage0.50%
Equity Future BrokerageNA
Equity Options BrokerageNA
Other Charges

Achiievers NRI Trading Software Review

The trading platforms offered by Achiievers Equities to NRIs are the same as for the resident Indians. Achiievers offers the following online trading software to NRIs:

  1. Achiievers Mobi (NSE Mobile trading)
  2. Achiievers Web (NSE Now Website)
  3. Achiievers Desk (Now Trading Terminal)

Achiievers Mobi

NSE NOW Trading App Features

Achiievers Web

NSE NOW Platform Features

Achiievers Desk (Now Trading Terminal)


Achiievers Investment Options

The investment options available to an NRI at Achiievers.

Investment OptionStatus
StocksYes
Mutual FundsNo
IPONo
OthersEquity SIP

Achiievers NRI Account Opening Process

Account opening at Achiievers is quite simple. Here are the steps to open a trading account:

  • Open an NRI SB account with Yes bank.
  • Get PIS permission with the help of the bank.
  • To open an NRI trading and Demat account with Achiievers, download the application form available at the official website under the 'download' section.
  • Fill the form and put your signatures.
  • Collect the self-attested copies of the required documents.
  • Send the application form along with the documents to the broker's office.
  • Complete the in-person verification process with the broker.

For NRIs, in-person verification is done by the employees at the broker's local office or overseas. Further, in the case of the infeasibility of carrying out IPV by the stock broker's side, attested documents by Consulate general/ Indian Embassy, local banker, judge, magistrate, court, notary public in the country where the NRI resides may also be permitted.

Note:

  • It takes 3 to 5 working days to open the account after receiving the documents correctly.
  • NRIs can invest in the equity delivery segment through the NRE account only.
  • Intraday, currency, commodities, and F&O trading are not allowed for NRIs at Achiievers.
  • Mapping NRI SB account with Achiievers trading and Demat account is necessary to make the process quick and automatic.
  • Can check the performance of the securities online through the Achiievers NRI trading account.

Achiievers Equities NRI Account Opening Documents

To open Achiievers Equities NRI account, you will need the following documents:

  • Copy of Passport / PIO Card / OCI Card
  • Copy of Overseas Address Proof
  • Declaration form duly signed by the Client to comply with FEMA regulations and other laws
  • Proof of bank details (not older than 3 months)
  • Copy of valid visa or work permit
  • Proof of IPV done by a competent authority
  • Copy of PAN card
  • Photograph of applicant
  • Exchange mandated agreements & POA (Power of Attorney)

Achiievers Key Features

FeatureStatus
3-in-1 AccountNo
Free Research and TipsNo
Automated TradingNo
Other Features

Achiievers NRI Mutual Fund

Achiievers doesn't offer the facility to invest in the mutual funds for NRIs. Resident investors can invest in mutual funds through the Achiievers trading platform.


Achiievers NRI Customer Care

Achiievers NRI Support Desk contact information. Find Achiievers NRI contact number.

Achiievers NRI HelplineNumber
Achiievers NRI Customer Care Number+91 33 6606 3000
Achiievers NRI Customer Care Email IDcustomer.care@achiieversequitiesltd.com

Achiievers NRI Trading Account Advantages

  • A dedicated desk for NRI clients.
  • Provides diverse research reports for NRI investors based on their needs. Achiievers is one of the few discount brokers to offer research reports.
  • Offers access to NSE NOW trading platforms in mobile, installable trading terminal and web.

Achiievers NRI Trading Account Disadvantages

  • Doesn't allow trade in the equity derivative segment.
  • Doesn't allow investment in mutual fund and IPO.
  • Charge a very high brokerage fee of 0.50% of the transaction value.

Conclusion

Achiievers Equities is a discount stock broker but it doesn't offer discounted brokerage rates to NRIs. It also doesn't offer Equity F&O trading, Mutual Fund, IPO and Bonds. There are many other brokers available with better pricing, tools and multiple investment options under the same account.


Frequently Asked Questions

  1. 1. What are the segments offered by Achiievers Equities NRI Trading Account?

    Achiievers allows NRIs to invest only in the equity delivery segment.

    Other options such as mutual fund, IPO, currency, commodity, F&O and equity intraday segments are not available to NRI clients.

    Discuss this question

  2. 2. Does NRI need to open the custodial account with Achiievers?

    No, NRIs are not required to open a custodial account or to get a CP Code for trading with Achiievers.

    NRIs cannot invest in the equity derivatives (F&O) at Achiievers. So, NRIs will not need a custodial account to trade and invest across the futures and options segment.

    Discuss this question

  3. 3. Is NRE bank account enough to trade with Achiievers Equities Ltd?

    Yes, NRIs only require NRE bank account to trade with Achiievers Equities Ltd.

    As the broker doesn't offer mutual fund and equity derivative investment option, NRIs will not need an NRO account.

    Discuss this question

  4. 4. Who is the banking partner of Achiievers Equities for NRI account?

    The NRIs are allowed to have an NRI bank account with Yes bank only for investing through Achiievers Equities NRI trading platform. They can open an NRE bank account for repatriable benefits. If they open NRO account, they cannot invest in equity delivery segment through this account.

    Discuss this question

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Information on this page was last updated on Tuesday, December 3, 2019


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