Just Trade NRI Account Review


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Bajaj Capital offers stock broking and financial services to NRIs through its subsidiary Just Trade Securities Limited. It offers a 2-in-1 account, combining trading and demat accounts, to enable trading and investments into a wide range of securities including Equity, MF and IPOs.

Bajaj Capital has over 13,000 NRI clients across the world. It offers a wide range of services to NRIs including Real Estate, Equity, Mutual Fund, Portfolio Investment Scheme, Insurance, NRI Taxation, NRI Banking Facilitation Services, and NRI Remittance Repatriation Services

Bajaj Capital has a dedicated research advisory team where experts offer customized investment solutions to NRIs. It also provides research updates on various securities, investment products, economic outlook, industry and capital market reports to resident and non-resident investors.

Justtrade.in is the flagship trading website of Bajaj Capital. It offers website based trading/investment options to NRI investors. Bajaj capital offers Call n Trade and dedicated relationship manager services to NRIs to help them trade with ease. Note that they don't offer a mobile trading app.


Bajaj Capital NRI Account

An NRI needs 4 accounts to trade/invest in the Indian Stock Market:

1. NRI Bank Account

NRI Bank account is necessary to handle banking transactions happening while purchasing and selling the securities. Bajaj Capital doesn't offer NRI bank account as it doesn't have a banking license.

NRI has to open the NRI SB account with any designated bank in India offering NRI services.

After opening the NRI bank accounts, NRIs can request for PIS permission from RBI for investing in the Indian stock market with the help of the bank.

2. Custodial Account (Bajaj Capital)

A custodial account is necessary to clear the trades made under the equity derivatives segment. The clearing member will provide CP Code which is necessary to invest across the equity derivatives segment. Bajaj Financial Sec Ltd works as an SCM (Self Clearing Member) to settle the trades made for the broker under the equity derivatives category. So, you do not require opening a custodial account with a 3rd party.

3. NRI Trading Account (Bajaj Capital)

Just Trade offers an online NRI trading account. With a trading account, the NRIs can place buy or sell requests for the securities. The broker provides online trading software to trade/invest across equity, derivatives, IPO, bonds and mutual funds.

4. NRI Demat Account (Bajaj Capital)

Bajaj Capital offers NRI Demat account for non-resident Indian investors. An NRI Demat account helps NRIs in holding the securities in electronic format. Bajaj Capital is a depository participant with NSDL and CDSL.

Note:

  • Demat Account safeguards the securities in electronic format.
  • Auto credit of public issues, dividends and bonuses through ECS.
  • Transaction and holdings details are available online.

Bajaj Capital NRI Trading Process

Bajaj Capital step-by-step NRI trading process:

1. Fund Transfer

NRIs need to transfer funds to their NRI bank account linked to the trading account. Once funds are available, the bank informs the broker. The broker will accordingly update the limit of the trading account.

2. Place Buy/Sell Request

NRI can now login to JustTrade.in and place buy/sell orders. Broker checks for the availability of funds or shares to process the request. If everything is correct, the order is placed on the stock exchange. Stock exchanges execute the order based on the availability of buyers/sellers.

3. Fund/ Securities Settlement

In the case of a buy order, the broker sends a contract note (invoice) to the bank. The bank releases the fund. The shares are deposited in NRI's demat account on T+2 days.

In the case of a sell order, the broker sends the contract note to the bank and transfers the funds. The shares are debited from the demat account and delivered to the buyer.

The entire process is completed in T+2 days, with T being the day of the trading.

4. Reporting to RBI

Bank reports all the transactions through NRI Bank Account (PIS linked) to RBI daily.


Just Trade NRI Trading Account Charges

Just Trade NRI brokerage charges for trading in Equity and Equity Derivatives.

TransactionFee
NRI Account Opening Charges
NRI Account AMC
Equity Delivery Brokerage0.75%
Equity Future Brokerage₹100 per lot
Equity Options Brokerage₹100 per lot
Other Charges

Just Trade NRI Trading Software Review

JustTrade.in is an online trading website for resident and non-resident Indian investors. It allows investing online in Equity, MF and IPOs.

The website also has integrated research updates on direct equity, mutual funds including equity, debt, liquid funds, structured investment products, economic outlook, interest rate scenario, implications for the performance of different asset classes, etc. The research covers the latest outlook on the industry and capital markets

 

Bajaj Capitial Justtrade trading website

 

Note: Bajaj Capital (Just Trade) doesn't offer a mobile trading app or an installable trading terminal. The website is the only way to trade.


Just Trade Investment Options

The investment options available to an NRI at Just Trade.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPOYes
OthersGold, Real Estate, PMS and Bonds

Just Trade NRI Account Opening Process

Note: Bajaj Capital doesn't offer NRI Bank Account. You have to open an NRI bank account with other designated banks i.e. HDFC Bank or ICICI Bank. NRIs also have to get the PIS permission on this bank account from RBI to invest in the Indian stock market. Banks facilitate the RBI permission for NRI customers.

Once NRI bank account with PIS permission is setup, NRI can follow below steps to open Demat and Trading account with Bajaj Capital:

  • Visit justtrade.in website
  • Click on 'Open An Account' link
  • Fill the contact form.
  • A sales representative will call you and send the PDF form.
  • Fill the application form with the correct information.
  • Attach the self-attested copies of the supporting documents with the application form.
  • Send the form along with the documents to the local office of the broker.
  • After receiving the documents, the employee at the local or overseas office of a broker can do in-person verification.
  • In case of IPV infeasibility, attestation of the KYC documents by Indian embassy or Consulate General/ High Commissioner/ Magistrate/ Notary Public/ Judge or any competent authority in the country where the NRI client is residing is permitted.

NRIs can also open an account by visiting the branch office.

Bajaj Capital NRI Documents

NRIs require the following self-attested documents to open an NRI account:

  1. Copy of Passport/ OCI card/ PIO card
  2. Copy of Address (Indian or Foreign)
  3. PIS Permission Letter from an authorized dealer
  4. Copy of valid visa or work permit
  5. Proof of bank account (NRE/NRO savings account)
  6. IPV by company official or Indian Embassy

Just Trade Key Features

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

Just Trade NRI Mutual Fund

Bajaj Capital offers an online platform to invest in Mutual Funds (MF). NRIs can choose a scheme from a range of mutual fund options.

The online mutual funds are offered through a different website onlinemf.bajajcapital.com. The MFs are not offered through Justtrade.in.

Note:

  • Various mutual fund schemes from multiple fund houses.
  • NRIs can invest in equity, debt and hybrid mutual funds.
  • PIS permission is not required while investing in a mutual fund.
  • NRIs are permitted to invest in mutual funds through a joint account.
  • The broker doesn't charge any brokerage for investing in mutual funds through Bajaj Capital.
  • NRIs can use SB/NRE/NRO accounts to invest in mutual funds.
  • The redemption and dividend amount are credited in the bank account used to make payments.
  • PAN is mandatory to invest in any mutual fund scheme.

Just Trade NRI Customer Care

Just Trade NRI Support Desk contact information. Find Just Trade NRI contact number.

Just Trade NRI HelplineNumber
Just Trade NRI Customer Care Number1800-3000-9000, 1800-110-900
Just Trade NRI Customer Care Email IDnri@bajajcapital.com

Just Trade NRI Trading Account Advantages

  • Dedicated NRI support desk to resolve the queries.
  • Provides research tips and advisory services to help the NRIs in taking the right investment decision.
  • A dedicated relationship manager is available to suggest, share and plan based on the investment needs of the clients.

Just Trade NRI Trading Account Disadvantages

  • The company is not keen on investing in new technology. The trading platform and website are not updated for decades. It doesn't offer a mobile trading app and installable trading terminal.
  • Charges higher brokerage in comparison to the discount broker.
  • Online account opening is not available.
  • Minimum ₹10,000 margin money is required.
  • Mutual funds are offered through a different website. It's not part of justtrade.in.

Conclusion

Bajaj Capital is an old stock broker with no interest in keeping up with the latest technology. The trading platform is over 20+ years old. It doesn't offer mobile trading app. The flagship website, justtrade.in has not been updated for many years. The brokerage is very high. Bajaj Capital is not good for any kind of stock market investors.


Frequently Asked Questions

  1. 1. How to open a Demat account with Bajaj Capital Securities Ltd?

    To open the Demat account with the broker, you have to submit the application form along with requisite documents. You can get the form from the broker's branch, head office or download online from the official website.

    After receiving the documents, the broker will arrange a representative for in-person verification. After completing the IPV process successfully and opening of the account, the broker will provide the login id and password to access the account.

     

  2. 2. Why does Bajaj Capital ask for bank details while opening account?

    The bank account needs to be mandatory linked with the demat account as per SEBI guidelines. All the earnings from securities like bonuses, and dividends etc., is directly credited to the demat account.

    A bank account is linked with an NRI trading account to facilitate a smooth transfer of funds from the bank to the trading account. It also helps RBI identify the source of fundings and money flow from abroad to Indian stock markets. As per RBI guidelines, an NRI can invest in equities on repatriation basis only through NRI PIS bank account. Similarly, mutual fund investments are only accepted in Indian currency.

     

  3. 3. Can NRIs change bank account details provided to broker for NRI trading?

    Yes, NRIs can change the bank account details by informing the Bajaj Capital in written format. It is mandatory to inform the DP regarding account changes to get the monetary benefits in the new bank account.

     

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Information on this page was last updated on Thursday, September 19, 2019


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