NRE or NRO or Both Account with ProStocks
ProStocks is Stock Broker, Depository Participant and Clearing Member for NRI Equity Futures and Options Trades. ProStocks will open your Trading as well as Demat Account. ProStocks can also get you CP Code required for trading in Equity Futures and Options.
Non-Resident Indian (NRI) Trading Account with repatriation benefit is called Non-Resident External (NRE) Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc.
Non-Resident Indian (NRI) Trading Account without repatriation benefit is called Non-Resident ordinary (NRO)Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc. and trade in Equity Futures and Options.
Non-Resident Indian (NRI) Demat (Depository Beneficiary) Account with repatriation benefit is called Non-Resident External (NRE) Demat Account and is required to electronically hold (in dematerialized format) shares, securities, bonds, exchange-traded funds, mutual funds etc.
Non-Resident Indian (NRI) Demat (Depository Beneficiary) Account without repatriation benefit is called Non-Resident ordinary (NRO) Demat Account and is required to electronically hold (in dematerialized format) shares, securities, bonds, exchange-traded funds, mutual funds etc.
NRI can open NRE Trading and Demat Account or NRO Trading and Demat Account or both, NRE as well as NRO Account.
Benefits of NRO Non PIS Account compared to NRO PIS Account
Sr.No
Difference
NRO PIS A/C
NRO Non PIS A/C
1
Banks
Only 4 Bank viz Axis, HDFC, Induslnd, Yes Bank
Any Bank out of more than 125 Banks in India
2
Time required
NRO PIS Bank A/C can take generally 4-5 days.
NRO Non PIS Bank account can be opened virtually in one day.
3
Segments allowed
Equity delivery
Equity Intraday, Equity delivery and Equity Futures and options (FNO)
4
AMC
AMC is to be paid to Bank for PIS A/C
No PIS Bank, hence no charges
5
Per contract charges
Bank charges on per contract for buy and sale
No PIS Bank, hence no charges
6
Convenience
Client needs to deal with broker for trades and PIS Bank for funds and Taxation
Clients will deal with Prostocks for their trades, funds and taxation.
NRE PIS Vs NRO Non-PIS Trading Account
Sr. No
Difference
NRE PIS Trading and Demat Account
NRO Non-PIS Trading and Demat Account
1.
Segment
Equity delivery
Equity Intraday, Equity delivery and Equity Futures and options (FNO)
2.
Order Type
Only Delivery
In Equity Intraday and Delivery, In FNO – intraday as well as short sales
3.
Bank A/C
NRE Savings and NRE PIS
NRO Savings
4.
Approved Banks
Only 4 Bank viz Axis, HDFC, Induslnd, Yes Bank
Any Bank out of more than 125 Banks in India
5.
Linked account
One NRE PIS A/C can be linked
More than 1 NRO Savings Bank A/C can be linked
6.
AMC
AMC is to be paid to Bank for PIS A/C
No PIS Bank, hence no charges
7.
Bank charges per contract note
Generally, PIS Bank will charge you anything between Rs 100 to Rs 500 per buy contract and per sale contract depending on the value and the bank.
No PIS Bank, hence no charges
8.
Convenience
Client needs to deal with broker for trades and PIS Bank for funds and Taxation.
Clients will deal with Prostocks for their trades, funds and taxation.
9.
Taxation
Subject to withholding tax for short term and long term capital gain.
Subject to withholding tax for short term , long term capital gain and business income.
10.
Repatriation
Freely repatriable
Repatriation subject to Form 15CA, CB
11.
Brokerage
Rs 100 per executed order
Rs 100 per executed order
You would have come to know the answer to the following question:
What is NRE Trading Account?
What is NRE Demat Account?
What is NRO Trading Account?
What is NRO Demat Account?
How does NRE PIS Bank Account operate?
How NRO PIS Account operated?
How NRO Invest Bank Account get operated?
Why NRI are not allowed Intraday Trading?
Can NRI do Intraday Trading in India?
Can USA NRI do Intraday Trade in India?
How NRI can do Intraday Trades in India?
Do I need Custodian Account to trade in futures and options or derivatives?
What is NRE/NRO Account and do I need NRE Account or NRO Account or both for NRI Trading with ProStocks?
Team ProStocks 
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