Compositedge NRI Account Review


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Composite Edge or Composite Investments Ltd is a discount broking firm offering trading and investment services to the resident as well as non-resident Indians. Composite Edge offers a complete range of investment solutions to NRIs and foreign nationals who are looking to invest in the Indian stock markets.

The company provides various investment options such as equity, mutual fund, IPO (offline), bond and PMS services. Composite Edge also provides ESOPs trading facility to NRIs who want to use the stock option, repatriate proceeds and liquidate stocks.

Composite offers trading platforms "PROTRADER", an online trading platform and NSE mobile trading app to NRIs to trade online. The broker offers assisted trading to NRIs through a network of designated dealers.

The NRIs are required to provide the PAN card for opening an account with Composite Edge. If you don't have one, the broker also assists in the PAN card account opening.

The company offers Omnesys Technologies back-office tool, which is one of the best software in India. It provides easy navigation, access, and solution to all the accounting related problems.

Composite Investments NRI Account

Composite Edge doesn't offer banking services to investors. NRIs have to open the following accounts with 3rd parties:

PAN Card

Investors must have PAN numbers to be able to trade and invest in India. Composite Edge provides assistance to NRIs in applying for a PAN number. In case you already have a PAN number as resident Indian then you don't need a new one. You can provide your existing PAN number while opening accounts.

NRI Bank Account

NRIs have to open an NRI bank account with other banks. The broker is associated with Axis, HDFC and Kotak Mahindra Bank to provide banking facilities. Composite Edge can help you in opening an account with these banks.

PIS Account

The bank where you have opened the NRI bank account (Axis/Kotak/HDFC) will help in obtaining PIS permission from RBI.

Custodial Account

Composite Edge works as a trading member only. The broker doesn't offer stock clearing and settlement service. The NRIs who want to invest in the equity derivatives segment have to open a custodial account and get CP Code with Orbis Financial.

Composite Investments 2-in-1 Account

Composite Investments offers a 2-in-1 account for non-resident Indians including NRI trading account and demat account.

NRI Demat Account

It is a dematerialized account to hold the securities in electronic format. NRIs can open NRE or NRO Demat account with Composite Investments for repatriable or non-repatriable benefits.

Key Features of Composite Investment NRI Demat Account:

  • Dividend and interest are automatically credited in the Demat account.
  • Can hold securities such as mutual fund units, shares and bonds electronically.
  • The NRI Demat account is just similar to a resident Demat account.
  • Demat account can be opened for repatriable or non-repatriable basis.
  • Demat account is mandatory in India to hold the securities.

To know more on NRI Demat Account, read- NRI Demat Account - Online Opening Procedure, Charges, Rules

NRI Trading Account

Trading account is used to place a buy or sell request for equity, F&O, and mutual fund units. NRIs can place orders either through the online trading platform or telephone. The broker offers multiple trading platforms which can be accessed from anywhere and anytime.

Composite Edge NRI Trade Process

Composite Edge offers an online trading experience to NRI investors through trading platforms. After opening NRI Demat and trading account with the broker, you can start trading and investing across the Indian stock market. Here is how you can invest in equity delivery segment:

Transfer Funds

NRIs have to transfer the funds required to purchase shares from the NRI bank account to PIS account. As the allocation request completes, the bank informs the broker to update the trading account as per the investment limit.

Place Buy Request

Through the Composite Edge NRI trading platform, investors can place buy or sell requests. As the system receives buy request, it checks the availability of funds in the PIS account to buy shares. If everything is correct, the order is executed on the stock exchange.

Credit and Debit

As it is a buy order, the NRI bank account is debited with money and the Demat account is credited with shares. For sell orders, the securities will be debited from the demat account and money will be credited to the bank account.

Contract Note

At the end of the day, the broker informs the bank about the buy and sell transactions executed in a day through contract notes. Further, the bank reports RBI regarding all the transactions.

Composite Investments NRI Trading Charges

Composite Edge NRI brokerage charges for trading in equity delivery and derivatives segment.


Compositedge NRI Trading Account Charges

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

TransactionFee
NRI Account Opening Charges₹1000
NRI Account AMC
Equity Delivery Brokerage₹200/- or 0.1%
Equity Future Brokerage₹200/- or 0.01%
Equity Options Brokerage
Other Charges

Compositedge NRI Trading Software Review

Composite Edge offers 3rd-party trading software to NRIs which are:

  1. NSE Now
  2. Pro Trader

NSE Now

It is a browser-based trading platform which allows online investment by logging in to www.nowonline.in. NSE Now provides real-time access to market data and a completely reliable and safe trading platform to investors. The NRIs can access order book, trade book, intraday chart, and get a quote through NSE Now platform.

 

Composite Edge Trading platform

 

Pro Trader

ProTrader is a trading platform developed by PFSOFT. It offers the best combination of analytical functionality and charting.

 

Composite Edge Trading platform

 


Compositedge Investment Options

The investment options available to an NRI at Compositedge.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPONo
Others

Compositedge NRI Account Opening Process

Composite Investments account opening process is simple. NRIs can open an account with Composite Edge following the below-mentioned steps:

  • Open NRI bank account with Axis, HDFC and Kotak Mahindra bank.
  • Get PIS permission with the help of the bank. If you already have an NRI account with the mentioned banks, you only need to get PIS permission to trade and invest in the Indian stock market.
  • Open a custodial account with Orbis Financial Ltd. The CP code is compulsory to trade and invest in the equity derivative segment.
  • To open NRI trading and Demat account with Composite Edge, download the application form from the website.
  • Fill information in the relevant sections.
  • Take a print out of the application form.
  • Affix photograph and collect the documents.
  • Self-attest the photocopies of the documents.
  • Notarize the documents from the competent authority.
  • Attach the cheque of account opening charges in favour of Composite Investments Limited.
  • Attach the documents with the application form.
  • Courier the documents to the local office of Composite Investment.
  • After receiving the documents, the broker will arrange a representative for In-Person Verification (IPV).

If IPV is not feasible, authorized documents by the Indian Embassy/ Consulate General/ Magistrate/ any Court/ Local Banker/ Notary public of the country where NRI resides are also permitted to open NRI account.

Composite Investments NRI Account Opening Documents

NRIs have to attach the following documents along with the application form to open trading and Demat account with Compositedge.

  • Valid Passport
  • Copy of PAN Card
  • Valid Visa from the country of residence
  • Indian & Overseas address proof
  • Details of a designated bank account in India
  • PIS Permission letter
  • FEMA declaration form
  • FATCA declaration form
  • Passport size photograph

Compositedge Key Features

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

Compositedge NRI Mutual Fund

Composite Investments allows NRIs to invest in the mutual fund. For investing in a mutual fund, KYC is an important exercise. If you have completed KYC once, you are not required to go through it again.

Key Features of Composite Investment NRI Mutual Fund

  • Invest in mutual funds through the NRO account.
  • Do not need PIS permission to invest in a mutual fund.
  • Track the performance of mutual funds online.
  • Can invest through PoA (Power of Attorney).

Compositedge NRI Customer Care

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

Compositedge NRI HelplineNumber
Compositedge NRI Customer Care Number
Compositedge NRI Customer Care Email ID

Compositedge NRI Trading Account Advantages

  • Offers ESOP trading facility for NRIs.
  • A team of specialists to assist non-resident Indian investors.
  • Assists in PAN card and PIS account opening.
  • NRIs can invest in Equity, bond, MF, and IPO (offline).
  • Provides semi and algo trading options.
  • Can also place offline order through telephone.

Compositedge NRI Trading Account Disadvantages

  • Have to open custodial and bank accounts separately which increases paperwork and overall charges.
  • The platform is designed for knowledgeable and experienced traders. New traders may not find it easy to use.
  • Doesn't offer a 3-in-1 account that means investors have to open a bank account with third party bank.
  • Doesn't offer in-house trading platforms. NRIs have to depend on 3rd-party to resolve technical issues.

Conclusion

Composite Edge offers a 2-in-1 account for NRIs to trade and invest across equity, mutual fund, IPO, bonds, and PMS. The brokerage charges are higher than other discount brokers. It doesn't have its own trading platforms and so is depended on the platform owners for up-gradation and resolving technical issues. Overall, there's not a single key offering or market differentiator from the stock broker to attract NRIs. There are better choices available in the market.


Frequently Asked Questions

  1. 1. What services Compositedge offers to NRIs?

    Composite Edge works as a single point of contact for NRIs for multiple services. The broker assists the investors with PAN application, organizes the NRI bank account opening and set-up a PIS account with RBI designated bank. CompositEdge offers NRI trading and Demat accounts for investors to trade and invest in the Indian stock market.

     

  2. 2. How can NRIs invest in the F&O segment with Compositedge?

    First of all, NRIs must have the CP code to trade and invest in the equity derivatives segment. The broker allows Orbis Financial to open a custodial account for NRIs. The exchange clearing corporation provides custodial participation (CP) code to NRIs with the help of clearing members. While trading or investing in F&O, NRIs have to provide this code in the relevant field.

    The transactions in the F&O segment are placed through rupee funds available on a non-repatriable basis.

     

  3. 3. What are brokerage charges of Composite Edge for NRIs?

    The broker charges Rs 200 or 0.1% (whichever is lower) in the equity delivery segment and Rs 200 or 0.1% (whichever is lower) in the equity Futures & Options.

     

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Read more about Compositedge

  1. Contact Compositedge for trading & demat account.
  2. Compositedge Website: http://www.compositedge.com
  3. Registered Office: Composite Investments Pvt Ltd, No. 30/1, 3rd Floor,
    S J Towers, Mission Road, Bangalore - 560027
  4. Phone: 9844700001, 080 4114 5828, 080 4114 5829
  5. Email: help@compositeinvestments.com

Compositedge Competitors Review

Information on this page was last updated on Sunday, April 19, 2020


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