SMC Global Vs IIFL Securities NRI Account Comparison

1x margin means Full SPAN + Exposure margins defined by the exchange across Equity and Derivatives (Equity F&O, currency and commodity) segments. This means the broker does not offer any additional leverage.

• NRIs doesn't require separate Custodial Account to trade in Equity Derivatives as SMC is a registered clearing member who can get CP code for and clear the trades. This offers a huge saving for NRIs.
• Provides research and recommendation tips based on technical analysis.
• NRIs can trade and invest through mobile, software and web browser
• Dedicated relationship manager to assist the NRIs in account opening to investing process.
• SMC is a full-service broker offering a wide range of products and services.

• Full-service broker with a dedicated relationship manager, research reports and a wide range of products & services.
• Online account opening process for NRIs.
• Convenient Mutual Fund investment through a mobile app or website.
• Part of IIFL Group, a financial services conglomerate.

• Offers NRI trading services only to NRIs who have bank accounts with Yes, Axis, HDFC, Indusind, or Federal Bank account holders.
• It offers 2-in-1 account means NRIs have to open an NRI bank account and PIS with other banks. It also means that they have to transfer funds in their PIS account before trading.
• Good Till Date/Time (GTD) and Good Till Cancelled (GTC) orders are not available.

• Charges high brokerage as compared to discount brokers such as Zerodha and ProStocks.
• Doesn't offer an NRI 3-in-1 account. NRIs have to open an NRI bank account and custodian account on their own.

SMC comes across as a good choice for NRI investors who are looking for a company that offers a wide range of financial products under one roof and investment recommendations. The broker offers a good online trading platform. It also provides wealth management services to NRIs. It has a corporate office in Dubai which makes it easy for NRIs residing in the city to avail various services through branch visits. The brokerage charges of SMC Global are high in comparison to discount stock brokers.

IIFL is a reputed full-service broker. It offers NRI Trading & Demat account facility for NRIs. IIFL also offers an online mutual fund platform to NRIs. IIFL Securities has a dedicated research team that provides insights on the economy and markets to its customers. The company has its offices in multiple locations across the globe that allows NRIs to avail branch services. The brokerage charges are on the higher side which makes it an expensive broker for NRIs.