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Are US-based NRIs allowed to do online trading in India?


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Stock brokers in India have different views on the regulations by the USA government for the online trading facility to NRI. Note:

  1. Banks offering an NRI trading account (3-in-1 NRI Account) doesn't offer online trading to US-based NRIs (or counties follow FATCA). This could be because they provide trading tips and research on their trading platform which is against the US SEC regulations.

    This includes banks like ICICI, SBI, and HDFC.

  2. Discount brokers who don't offer trading tips and research services usually offer online trading to US-based NRIs. This includes brokers like Zerodha andProStocks.

    There US-based NRI customers can use the online trading software to place buy/sell requests in equities, equity derivatives, MFs and IPOs in BSE and NSE.


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