Indiabulls NRI Account Review

Indiabulls is a full-service stock broker that offers a range of trading and investment services to NRIs. It offers 2 in 1 accounts, combining demat and trading accounts for online trading across Equity, Equity Derivatives, IPOs, and Mutual Funds.

Power Indiabulls (PIB) is the flagship online trading platform offered by the broker to NRI investors. The platform offers charting, real-time stock prices and news updates to traders. It also offers an 'instant customer service' wherein investors can connect to an expert and seek trading assistance.

Indiabulls offers various in-house mutual fund schemes as well as Mutual funds of other AMCs to non-resident Indian investors. NRIs can invest based on a repatriable and non-repatriable basis.

Indiabulls has a dedicated research division that provides technical analysis, trading reports, and fundamental stock recommendations.

Indiabulls NRI Account

To trade and invest in Equity, Equity F&O, Mutual Funds, and IPOs, NRIs need to open the following accounts:

1. NRI Bank Account (with PIS permission)
2. NRI Custodian Account (for F&O Trading only)
3. NRI Trading Account
4. NRI Demat Account

1. NRI Saving Banks (SB) Accounts

Indiabulls doesn't offer banking services. NRI investors have to open NRE or NRO Bank Accounts with an RBI designated bank offering this service. The bank will also help them obtain PIS permission from RBI. PIS certificate is mandatory for trading in stocks.

2. Custodian Account

Indiabulls uses the custodian services of HDFC Bank. If you are interested in trading in Equity Derivatives (F&O), you can get a CP Code from HDFC.

3. Indiabulls NRI Trading Account

Indiabulls offers trading account to NRI investors. The trading account is required to buy and sell securities from BSE and NSE.

Note:

• Online trading through Mobile, Website, and Installable Trading Terminal.
• The NRI Trading Account is linked with the NRI Demat Account and the NRE PIS Bank Account or NRO Bank Account.
• Facilitates trading in Stocks, Derivatives, Mutual Funds, and IPOs.
• Access to research reports.
• Access to instant expert support.

4. Indiabulls Online NRI Demat Account

The Demat account holds securities in digital format and is mandatory for trading in Indian stock exchanges.

Indiabulls Ventures is a depository participant (DP) with NSDL and CDSL, the two central depositories offering Demat Accounts. The membership allows it to offer NRI Demat accounts.

Note:

• A Demat account is similar to a bank account. But instead of money, it holds the securities in electronic form i.e. shares, bonds, mutual funds.
• NRIs can open repatriable and non-repatriable Demat account with Indiabulls.
• NRIs can open Demat account as a joint account with another NRI.
• The dividend and bonus earned on the securities in Demat account are directly credited to the linked NRI bank account.
• Online access to demat accounts anywhere and anytime.
• SMS & Email notifications on credit/debit of securities

Read more about NRI Demat Account - Online Opening Procedure, Charges, Rules

Indiabulls NRI Trading Steps

Indiabulls offers a fast trading experience to NRIs through its flagship PIB trading platform. Once you have obtained access to Indiabulls trading & Demat account and PIS permission, you can trade-in Equity Delivery segment by following the steps below:

1. Place Buy/Sell Order

   Login to the Indiabulls online trading software and place buy or sell orders. The system will first check the availability of funds in the linked NRI PIS bank account or shares in the Demat account. If the requirements are fulfilled, then the order is sent to the exchange (BSE or NSE). The exchange finds the match and executes the order.

2. Contract Note Delivery

   At the end of the trading day, Indiabulls prepare a contract note for all the transactions in a day. The contract notes are sent to the bank for settlement of the fund. A contract note is similar to an invoice with details of the transactions, brokerage fees, and taxes. 2 sets of contract notes, each for all buy and sell transactions, are sent to the bank.

3. Settlement of Funds

   If it is a buy order, the NRI bank account is debited with the value of the trade. The funds are transferred to the broker.

   In the case of a sell order, the NRI bank account is credited with money from the broker.

4. Settlement of Shares

   If it's a buy order, the demat account is credited with shares in T+2 days. T is for the trading day. If it's a sell order, the demat account is debited with shares. These shares are delivered to the buyer by the broker.

5. Reporting:

   All transactions in the NRE PIS Bank Account are reported to RBI at the end of the day.

Indiabulls NRI Trading Software Review

Indiabulls trading platform for NRI includes 3 trading software:

1. Shubh Mobile
2. Shubh Web
3. Power Indiabulls (PIB)

The brief detail of these online trading platforms is provided as below:

1. Indiabulls Shubh App

Shubh App is a mobile trading platform by Indiabulls. The app offers convenient trading/investment using a Smartphone. The key features include live stock market updates and stock tips from the research team.

2. Indiabulls Shubh Web

Shubh Web is a browser-based online trading website. This lightweight website runs in any web browser. It offers live streaming market data, advanced charts, portfolio tracker, IPO, news and a simple user interface.

3. Power Indiabulls (Installable Trading Terminal)

PIB is a desktop-based online trading platform. It has a host of advanced features such as live trading reports, news updates, charting facilities, and real-time stock prices.

Indiabulls NRI Account Opening Process

Before opening the NRI trading and demat account with Indiabulls, an NRI needs:

• PAN Card
• NRI Bank Account (NRE/NRO PIS Account)

If you don't have a PAN Card, you can obtain it by filling up Form 49AA online for allotment of permanent account number through the websites of UTIITSL and NSDL.

Once you get the PAN Number and an NRI PIS Bank Account is opened, you can then open the following 2 accounts with Indiabulls:

• Indiabulls NRI Trading Account
• Indiabulls NRI Demat Account

Note: In the case of equity derivatives trading (F&O), an NRI also needs Custodian Account and CP Code with HDFC Bank.

Steps to open NRI account with Indiabulls

1. First, get a PAN Card and open the NRI bank account (NRE or NRO) with an authorized bank and get PIS permission.
2. Get the 'Account Application Form' from the Indiabulls website or by calling the sales team.
3. Print it, fill it and sign it.
4. Make a copy of the supporting document.
5. Get the documents attested by authorized officials
6. Submit the form along with all the documents to the Indiabulls office.
7. In-person verification where a representative from Indiabulls will contact to verify the details.
8. Once the verification is completed and documents are correct, you will get an ID and password for the NRI trading and Demat account.

You will need the following documents to open an NRI trading and Demat account with Indiabulls:

• Copy of Passport
• Copy of Valid Visa
• Copy of PAN Card
• Colour Photographs
• Address Proof

Indiabulls NRI Mutual Fund

Indiabulls Mutual Fund is a SEBI authorized Asset Management Company (AMC) of India. NRIs can invest in various schemes offered by the fund house.

Indiabulls is also a distributor of Mutual Funds offered by another 20+ AMCs including ICICI Prudential and HDFC Mutual Fund.

By opening a mutual fund account with AMC, you can invest in various schemes under equity and debt segments.

Key Facts:

• NRIs can buy/sell Mutual Funds from its trading platform which includes PIB, Shubh Web, and Shubh Mobile.
• No PIS permission is required to buy or sell mutual fund units.
• The Mutual Fund units are automatically credited and debited from the Demat account based on whether its a buy or sell order.
• You can monitor the performance of the mutual fund online.
• NRI can start a Systematic Investment Plan (SIP) for Mutual Funds.
• MF Investment research and recommendations are provided by an in-house research team.

Indiabulls NRI Trading Account Advantages

• Full-service broker offering research and recommendations tips.
• Online investing with the Power Indiabulls trading platform.
• Indiabulls is also an AMC. It offers a range of mutual funds to NRIs.
• Indiabulls Ventures is part of the Indiabulls Group, a diversified financial services company.

Indiabulls NRI Trading Account Disadvantages

• It charges high brokerage as compared to the brokerage charged by discount brokers like Zerodha, and Prostocks for NRI trading.
• Doesn't offer unlimited trades/discount brokerage to NRI customers.
• A separate Custodial account has to open with HDFC for F&O trading.

Conclusion

Indiabulls is a good choice as a broker for NRI traders who need the online trading facility, research assistance, personalized services and prefer investing in mutual funds. It has a dedicated research team that helps traders in making informed investment decisions. The Power Indiabulls trading platform is an advanced online trading platform that offers many useful trading features to NRI investors. Except for higher brokerage, the services offered by Indiabulls to NRI customers are competitive.

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Information on this page was last updated on Monday, December 16, 2019