Trustline NRI Account Review


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Trustline Securities is a full-service broker offering trading and investment services in equity, F&O, mutual fund, FDs, and bonds to both resident and non-resident Indian investors. The broker offers customized investment solutions across wealth management, insurance, financial markets, bullion and real estate.

The broker charges 3 paise per executed order as a brokerage in equities, 30 paise in futures and Rs 75 per lot for options. 

Trustline offers a web-based trading platform T5, and iTrust Mobile, a mobile trading application for NRI investors to make trading and investing easy. The broker also allows US and Canada based NRIs to trade and invest through the Trustline NRI trading platform. 

NRIs can invest in mutual funds through a separate mobile application named trustmutualfunds. Trustline also facilitates the IPO application facility for all investors.

The stock broker has 100000+ clients and 400+ offices across India.

Trustline NRI Account

NRIs need to open the following accounts to trade and invest in India:

PAN Card

NRIs must have a PAN number to trade and invest in India. In case, you do not have a PAN Card, you can apply online. You need to apply for PAN number by filling Form 49AA through the websites of UTIITSL and NSDL.

Note - The PAN card is the same for NRIs and Resident Indians. If you already have a PAN Number as resident Indian, you don't need a new PAN number as an NRI.

NRI Savings Bank Account

Trustline doesn't offer banking services to investors. The broker allows the NRI Bank account with Axis bank only. NRIs have to open NRI bank account with Axis Bank before opening accounts with Trustline.

PIS Account

After opening the NRI SB account, non-resident Indian investors have to get PIS permission with the help of the bank. PIS permission is necessary for NRIs to invest in the Indian stock market. To trade and invest across the derivative segment, NRIs will not need a PIS account.

Custodial Account

Trustline works as a trading cum clearing member with the stock exchange. All the trades placed in Equity derivatives segments are settled by Trustline Securities. 

Trustline NRI Demat account

Trustline offers a Demat account under both the depositories (CDSL and NSDL). In India, a Demat account is necessary to hold the securities in the dematerialized format.

Key features of Demat account:

  • Safeguards the securities from physical theft.
  • Dividend and interest are automatically credited in the Demat account.
  • Demat account can be opened based on a repatriable and non-repatriable basis.
  • Securities are automatically credited and debited from the Demat account based on order request.
  • Demat account opening form is the same for resident and non-resident Indian investors.
  • Choose investor type as NRI and subtype as repatriable or non-repatriable.
  • A nominee can be another NRI or resident Indian.

Trustline NRI Trading Account

NRIs have to open a trading account with Trustline to place buy and sell requests across BSE and NSE. The broker offers a trading platform to invest across equity, Mutual Fund, FDs, bonds, and the F&O segment. 

Trustline NRI Trading Process

Following is the step by step process for trading in the equity delivery segment.

Fund Allocation

Transfer funds from your NRI bank account to the PIS account. The bank informs the broker regarding the fund allocation. The trading account investment limit is updated based on the fund allocation amount.

Place Buy/ Sell Order

Through the Trustline NRI trading platform, place a buy or sell order. After receiving the order, the system checks the availability of funds or shares. If everything is correct, the order is executed in the stock exchange and an order confirmation alert is sent.

Debit/Credit of Account

If it is a buy order, the Demat account is credited with shares and the NRI bank account is debited with money. When it is a sell order, the Demat account is debited with shares and the NRI bank account is credited with the money.

Contract Notes

At the end of the day, all the transactions are reported to RBI by the bank through separate buy and sell contract notes.


Trustline NRI Trading Account Charges

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

TransactionFee
NRI Account Opening Charges₹0
NRI Account AMC₹1000 + GST
Equity Delivery Brokerage0.03 (3 paise)
Equity Future Brokerage0.30 (30 paise)
Equity Options Brokerage₹75 per lot
Other Charges

Trustline NRI Trading Software Review

Trustline offers mobile and web-based trading software to NRIs for online trading. The broker doesn't allow algo trading and AMO (After Market Order) facility.

  1. iTrade Mobile App (android & iOS)
  2. T5 Web

iTrade (Android & iOS)

It is a front-end mobile app allowing investors to perform the following functions:

  • Supports multiple exchanges including NSE & BSE.
  • Track the securities online.
  • Provides real-time access to mobile application.
  • View positions, trades, and history reports.
  • Create multiple watch lists.
  • Analyze the securities through charts.

 

Trustline iTrade

 

T5 -Web

You can use a web-based trading platform from your mobile or laptop. Here are the features of T5 web-based trading platform:

  • Create a market watch for the stocks you want to track.
  • Investors can access intraday charts of the particular script.
  • Order book contains all the information about the orders placed through the T5 trading platform.
  • The net positions show the position taken by the investors, buy/sell avg price, BEP, MTM, LTP, Net value, exchange details.

 

Trustline T5 Web

 


Trustline Investment Options

The investment options available to an NRI at Trustline.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPONo
Others

Trustline NRI Account Opening Process

If you are present in India, you can visit the nearest branch of the Trustline and open the NRI account. But if you are out of India, you can follow the steps below for NRI online trading account:

  1. Open the NRI bank account with any designated branch of Axis Bank.
  2. Get PIS permission with the help of bank for NRI investing and trading.
  3. To open NRI trading, Demat and custodial account with Trustline, download the application form.
  4. Fill the forms and take out the print.
  5. Collect the required documents for account opening and self-attest the photocopies.
  6. Notarize the photocopies of documents from a competent authority such as Indian Embassy or consulate general, overseas banker, judge, magistrate, notary public of the country where NRI resides.
  7. Send the application form along with photocopies of documents to the broker's office in Noida.
  8. After receiving the documents as mentioned in the list, the broker will arrange a representative from Trustline securities for In-person Verification (IPV).
  9. At the end of the account opening process, the broker will provide trading account ID and password.

If IPV is not feasible, authorized photocopies by the competent authority may also be permitted by Trustline for document verification.

Note:

  • Mention the current location (India or overseas) to complete the IPV with the broker.
  • To trade in derivative, NRIs will need an NRO account.
  • Mention the mandate holder by filling the mandate form.
  • Download the PIS application and NRI bank account opening forms from Axis Bank's website.

Trustline NRI Account Opening Documents for Individual:

PIS Permission letter provided by the designated bank.

  • Copy of PAN Card
  • Bank Account proof
  • FATCA declaration form
  • FEMA declaration form
  • Address proof (Indian or overseas)
  • Passport size photograph

Trustline Key Features

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

Trustline NRI Mutual Fund

Trustline offers mutual fund investment option for resident and non-resident Indian Investors (NRIs). They can invest in mutual funds through a mobile app named trustmutualfunds which is available for Android and iOS users.


Trustline NRI Customer Care

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

Trustline NRI HelplineNumber
Trustline NRI Customer Care Number(0120) 4613-888
Trustline NRI Customer Care Email IDhelpdesk@trustline.in

Trustline NRI Trading Account Advantages

  • Offers web and mobile app-based NRI trading and investment platform.
  • Charges lower brokerage for investing in equity and equity derivatives.
  • Doesn't have a minimum brokerage charge which is good for small investors.
  • Offers research-based fundamental and technical analysis which helps in taking a better investment decision.
  • Allows US and Canada based NRIs to trade and invest in the stock market through Trustline trading forms.
  • Trustline works as a clearing and settlement member which reduces the overall cost for investors.
  • Facilitates IPO bidding for resident and non-resident Indian investors.

Trustline NRI Trading Account Disadvantages

  • Doesn't offer a 3-in-1 account which means NRIs cannot open all the accounts at a single platform. It also means NRIs have to first transfer funds to PIS account before placing orders.
  • Doesn't offer Bracket Order facility.
  • Doesn't offer AMO (After Market Order) and GTC (Good' Till Cancelled) orders for investors.
  • Allows only Axis bank to open NRI bank account.

Conclusion

Trustline Securities is a good choice for both casual and frequent traders. The full-service broker offers depository services and research tips for NRIs. It also allows US and Canada based NRIs after filling FATCA and FEMA declaration form. The brokerage charges are quite low as compared to other full-service brokers in India. The broker also offers good web and mobile trading platforms in addition to a dedicated mobile app for mutual fund investments. Call n Trade facility and IPO application services are other features that make Trustline a good choice as an NRI stockbroker. The only major disadvantage with the broker is that it only allows Axis Bank accounts to be linked with its trading account. So, if you have Axis NRI bank accounts then its an excellent choice else you have to transfer your bank accounts to trade with Trustline.


Trustline Special Offer

Lifetime FREE AMC Demat Account - 50% Off

Get 50% off onetime fee of Lifetime Zero AMC Demat Account. Save ₹500 on account opening.

This is a limited time offer. Simply leave your contact information with us and Trustline representatives will contact you.

Frequently Asked Questions

  1. 1. Does Trustline Securities have an NRI research desk?

    Yes, Trustline Securities have a research desk to help resident and NRI investors in taking investment decisions.

    The research desk provides recommendations and research tips in the equity segment. The recommendations offered by Trustline are available on the homepage. The investors can also subscribe to get mobile text messages on their registered numbers.

     

  2. 2. What are the Trustline trading platforms available for NRIs?

    Trustline securities offer two NRI trading platforms which are:

    • iTrade mobile
    • iTrade web

    You can invest in stocks, futures and options segments across NSE and BSE. iTrade mobile and web platforms are available free of cost for NRIs.

    When you open the NRI trading account with the broker, it provides trading ID and password to access the platforms.

    Trustline NRI mutual fund investment option is available separately through a mobile app named trustmutualfunds.

     

  3. 3. What are the brokerage charges for NRIs with Trustline?

    The brokerage charges for equity 3 paise per order. The brokerage for Futures is 30 paise per orders and for Options, it is Rs 75 per lot.

     

  4. 4. Can a US-based NRI open an account with Trustline?

    Yes, Trustline offers it's trading and investment services to NRIs based in the US as well as Canada. However, the NRIs need to comply with FATCA regulations while trading and investing in India.

     

Contact Trustline / Request Call Back

Get 50% discount (₹500 Off) on Lifetime FREE AMC Demat Account fee. Request a Callback

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Information on this page was last updated on Tuesday, October 9, 2018


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