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TradingBells NRI Account Review

TradingBells is an online discount broker offering low brokerage trading services to NRI investors. Trading bells is part of Swastika Investmart Ltd., a traditional full-service broker with over 25+ years of stock broking experience.

TradingBells offers a 2-in-1 account, combing a trading and a demat account, for NRIs. NRIs can invest in stocks, mutual funds, IPO and equity F&O segments using the online trading services offered by the company.

TradingBells USP is its low brokerage charges and a wide local presence across 80 cities. It charges a fixed brokerage of ₹100 per executed order across all the segments available to NRIs.

TradingBells NRI trading software is the same as offered to resident investors. This includes its proprietary trading platform Justrade (trading terminal, browser-based platform and mobile app) and 3rd party software like NSE NOW (mobile app, website and trading terminal) and ODIN (trading terminal and website). With a user-friendly back-office interface, NRIs can check regular updates on current holdings, ledger balance, sauda summary and other transactions.

TradingBells NRI Account

An NRI need following accounts to trade with TradingBells.

1. NRI Banks Account

TradingBells allows non-resident Indians to open NRI Savings Bank account with any RBI designated bank for NRI account in India. NRIs can continue using the existing NRI Bank Account or open a new account with any bank of their choice. An NRI needs to have an NRE or an NRO account with a bank in India. To trade in the Derivative segment you will need an NRO account (Non-PIS).

2. PIS Account

With the help of bank (where you have an NRI bank account), you can obtain RBI PIS permission letter. RBI PIS permission is required for NRI's to invest in the Indian stock market.

PIS permission is not required to trade in Equity F&O or invest in Mutual Fund, Bonds, NCD etc. securities.

3. Custodian Account

To trade and invest in the equity derivatives segment, the NRIs will need an NRO Bank Account and a Custodian Account. Globe Capital Market Limited is designated by TradingBells as Custodian for NRIs. So, you will need a CP code with Globe Capital for equity derivative investment.

4. TradingBells NRI Demat Account

NRIs can open NRI Demat account with both NSDL and CDSL at TradingBells. The broker is a depository participant (DP) with both central depositories in India.

TradingBells NRI Demat Account Highlights:

• Demat Account helps in holding the securities in electronic format.
• NRIs can open Demat account with the same account opening form available for resident Indians.
• NRIs have to select the type as NRI and choose from NRE and NRO as a sub-type.
• Can access the Demat account online from anywhere across the world.
• Dividend and interest are automatically credited in the demat account linked NRI SB account.
• Demat account can be opened for both repatriable and non-repatriable basis.

For more information on NRI Demat accounts, please read NRI Demat Account - Online Opening Procedure, Charges, Rules

5. TradingBells NRI Trading Account

NRI trading account gives you access to NSE & BSE and place buy or sell request for various securities. TradingBells offers various trading platforms to trade and invest across equity delivery, derivative, mutual fund and IPO segments.

TradingBells NRI Trading Process

Once you have opened the NRI Bank, PIS, Custodial, Trading and Demat accounts, you're ready to trade in India. Following is the step-by-step TradingBells NRI trading procedure for trading in the Equity Delivery segment:

1. Fund Allocation

Transfer funds from your NRE/NRO bank account to your PIS Bank Account. The bank informs TradingBells on the allocation of funds. This is then updated as an available limit on your trading account.

2. Place the Order

NRIs can place buy or sell request through the trading platform. When you put the request, the system checks the availability of funds (buy order) or shares (sell order) in the respective accounts. If the condition is fulfilled, the order is executed at the stock exchange.

3. Fund Settlement

If it is a buy order, the amount is deducted from the linked NRI bank account. If it is a sell order, the amount is credited to the NRI bank account after order completion.

4. Stock Settlement

In case of a sell order, the Demat account is debited with shares. Contrary, the shares are credited in the Demat account when it is a buy order.

5. Reporting to RBI

The transactions made in equity delivery segment are reported to RBI daily. The broker sends two separate contract notes for buy and sell transactions in a day to the bank. Further, the bank reports RBI and trades are settled.

TradingBells NRI Trading Software Review

TradingBells offers 3 trading platforms to NRIs to trade at BSE and NSE stock exchanges:

1. Justrade (Trading Terminal, Browser-based platform and Mobile App)
2. NSE Now (Mobile app, Website and Trading Terminal)
3. ODIN (Trading Terminal and Website)

Justrade Web (Omnesys NEST)

Justrade Mobile Trading App (Omensys NEST)

ODIN Trading Terminal

Read ODIN Trading Terminal Review for more detail.

TradingBells NRI Account Opening Process

Before opening NRI trading and Demat account with TradingBells, you have to open NRI Bank Account and get RBI PIS permission on it.

NRI account opening process with TradingBells is a manual process. It requires filling the paper form and sending it to the broker. The steps to open an NRI account are as below:

• Visit TradingBells website.
• Download the application and KYC form for opening NRI Demat and trading account.
• Fill the form with personal, bank and other details in the relevant field.
• Attach the self-attested copies of the documents.
• Send the form along with copies to the designated local branch of the broker.

Note:

• If the NRI is not in India at the time of account opening, all photocopies of the documents need to be attested by the Indian Embassy / Consulate General / Notary Public / Any Court /Magistrate / Judge / Local Banker in the country where the NRI resides.
• If the NRI is in India, these documents can be self-attested. However, the NRI has to provide a photocopy of the passport page showing the stamp by the immigration authorities at the time of his arrival in India as a proof of his being in India by submitting.

TradingBells NRI Account Opening Documents

The non-resident Indians will need the following documents to open NRI Trading and Demat account with Trading Bell.

• Address Proof (Indian & Foreign )
• Bank Proof indicating the type of account as NRI/NRE/NRO
• PIS Letter (Issued by the bank )
• Pan card
• Fema declaration
• Copy of Passport
• Trading authorization format on ₹100 stamp
• General Power of attorney
• One Passport size Photograph
• Pan copy

In the case of client trade in future and option segment, the following documents would be required in addition to the above mentioned:

• Application for allotment of NRI code with passport

TradingBells NRI Mutual Fund

TradingBells offers online mutual fund services to investors. It is an easy process to access and invest across various mutual funds in India.

Key Features of TradingBells NRI Mutual Fund

• Invest in any mutual fund schemes directly.
• The online mutual fund requires NRI Demat, trading and bank account.
• Invest directly in the scheme without filling an application form.
• The money in the bank account is automatically debited or credited while purchasing or selling mutual fund units.
• Track the performance of the scheme online.
• Invest either through SIP or lump sum mode of investment.

TradingBells NRI Trading Account Advantages

• Charges flat ₹100 across equity delivery, and F&O segments from NRIs. This is among the lowest brokerage in India for NRI customers.
• Allows linking the trading account with an NRI bank account opened with a designated bank in India.
• Offers different trading platform available through mobile app, website and trading terminal.
• Dedicated online support desk to resolve the queries of the investors.

TradingBells NRI Trading Account Disadvantages

• Only offers a 2-in-1 account which increases the paperwork to open separate NRI bank account with other banks.
• Clients need to pay to avail research services

Conclusion

TradingBells is an online broker with presence in 80+ cities through its parent company Swastika Investmart. It charges the lowest brokerage to NRIs. 3 different trading platforms Justrade, Now and ODIN are available to the customer. It suites to frequent trades (NRIs) who prefers to trade online at an ultra-low-cost.

Frequently Asked Questions

Read more about TradingBells

• TradingBells Review - A Detail Analysis of TradingBells
• TradingBells Brokerage Charges, Fees, AMC, Transaction Charges
• TradingBells (Swastika Investmart Ltd) FAQs
• TradingBells Demat Account Review
• TradingBells Mobile App
• TradingBells Account Opening Process Review
• TradingBells Branch Offices / Sub Brokers / Franchise
• Apply in IPO through TradingBells
• TradingBells Exposure
• TradingBells Trading Software Review
• TradingBells NRI Account Review
• TradingBells Mutual Fund Review
• Is TradingBells safe?
• TradingBells Complaints Analysis

Compare NRI Accounts

Information on this page was last updated on Saturday, June 6, 2020