ProStocks advanced IVR allows you to take five most sought after reports yourself either on same call or on your email ID.

You will need to call from your registered mobile number to +91-22-38 110 120.

System will recognize you based on your registered mobile number and no further authentication required.

In case you have your family members account also against the same mobile number with ProStocks, system will recognize this and you would be automatically asked to select client code for which you need the report / information.

Thereafter:

  • Press 1 - In case you need information over the phone (Mobile):
  • Press 2 - In case you need information on Email:
  • Press 9 - For Assistance with customer care representative for call-and-trade or any other enquiry.

Thereafter:

  • Press 1 - for Balance Confirmation
  • Press 2 - for Bill Summary
  • Press 3 - for Stock Holding Report
  • Press 4 - for Trade Details
  • Press 5 – for Net Outstanding Position

Alternatively, you can directly dial the required enquiry using below options.

  • Press 11 for Financial Balance Confirmation over the phone
  • Press 12 for Bill Summary over the phone
  • Press 13 for Stock Holding Report over the phone
  • Press 14 for Trade Details Summary over the phone
  • Press 15 for Net Outstanding Position over the phone
  • Press 21 for Financial Balance Confirmation on your registered Email ID
  • Press 22 for Bill Summary on your registered Email ID
  • Press 23 for Stock Holding Report on your registered Email ID
  • Press 24 for Trade Details Summary on your registered Email ID
  • Press 25 for Net Outstanding Position on your registered Email ID
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IPO Investment

In Jan 2016, SEBI made it mandatory for all application in IPO and FPO ( Initial Public Offering and Follow on Public Offering ) to be through ASBA (Applications Supported by Blocked Amount) in which Bank of the client has to create lien ( block the amount in bank account) in favour of the Issuer. Upon allotment, lien will be removed and Client bank account will be debited to the extent of allotment amount. This solves problem delay in refund of IPO application amount upon none or part allotment. Issuer will be given amount post allotment by the Bank to the extent of allotment amount.

IPO application through cheque payment is no longer allowed. Now Stock Broker is not able to offer paperless application to client through their trading website.

Now all paperless ASBA application are possible through your bank account. Majority of the bank’s allowing their client to make IPO ASBA application from their online bank account. Client having account in those bank account who are not offering paperless ASBA application or those client who do not do online banking has to fill the physical application and submit to syndicate member for onward submission to client’s bank for creating lien marking in the client ‘s bank account.

Before 2016, broker was taking IPO application from its client along with cheque and submitting to Registrar. In that process, investor’s money was collected by the issuer and in case of over subscription, they have to refund the amount. Collecting funds even before allotment and refund in case of non allotment was time consuming process and there were many complaints from investors for non refund, delayed refund , time taken for listing due to manual process etc . ASBA has solved all such issues and also investor is able to earn interest as money is lying in their own bank account till allotment, Listing time has shortened etc.

Let’s discuss how ASBA (Applications Supported by Blocked Amount) process works

With ASBA process, banks need to be part of Self-Certified Syndicate Banks (SCSBs). Once bank receive approval as SCSB, they can take IPO application physically on their branches or provide an online IPO investment platform through net banking facility.

ASBA process is applicable to all book-built public issues provided only one payment option by retail individual investors.

Each Self-Certified Syndicate Bank is authorized to accept IPO application which requires Applicant Number, PAN Number, DP Number, Bid Quantity details.

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About ProStocks:

ProStocks is the fastest growing Online Stock Broker in India. The company offers low cost flat fee trading plans to stock market Traders and Investors.

ProStocks is providing its NRI Service to client with Flat Rs 100 per executed order. With its online eKYC process, you can register online and get OTP (One time password on your registered email), and fill your application form online, print and courier. Once account setup process completes, you can do trade on ProStocks desktop ,ProStocks Web and ProStocks Mobile application besides NSE NOW Desktop, NSE NOW Web and NSE NOW mobile for Android as well as IOS.

ProStocks provide most advanced trading platform to the investor. This includes a website for trading, mobile app and a trading terminal for high frequency traders. All trading software and tools are available for free of charge. ProStocks KeyStone is most advanced and costliest back office of India with advanced IVR is provided free to NRI Clients.

Excellent risk management, customer service and clients focus approach makes ProStocks unique broker offering advance broking services at ultra-low cost.

Steps to follow to open an account:

Step by Step process for NRI's customer to complete documentation -
This process is for the Equity Delivery Trade only -

  1. Click on http://ekyc.prostocks.com/
  2. On left hand side - register your information as Name, eMail id, Country code, Mobile Number, select status as Non Resident.
  3. Generate OTP
  4. OTP will deliver on your eMail id with subject “ProStocks Registration OTP”
  5. Validate OTP
  6. After OTP validation, you will receive your login name and password on your registered email id ( in case you want to re login and complete the form in multiple session)
  7. In next step you need to fill basic information - PAN CARD, Name as PAN Card, Date Of Birth, Country of Birth and Type of account you wish to open, Aadhar Card is an optional field
  8. eKYC have 5 section – Basic Information, Preference details, Additional details, Select and pay, Submit document. 
  9. Submit Document Requires copy of -[PAN CARD, ADHAR CARD, COPY OF PASSPORT, VISA STATUS, Passport size photo.

  10. Generate PDF Document

  11. Print PDF and do required client Signature

  12. You need to notarized/attested your document – List of Documents for NRI Account

    • FATCA Annexure duly filled and signed
    • Attested copy of PAN card
    • Attested copy of Overseas address proof – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not more than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed
    • Self-certified copy of Indian address proof. Indian address proof is mandatory for NRO Account. Your Indian Address on NRO Bank Statement ( if existing ) is accepted as Indian address proof.
    • Passport size photograph
    • In case of an Indian Passport: Attested copy of valid passport with copy of Valid Visa
    • In case of Foreign Passport: Attested copy of valid passport, Copy of PIO/OCI card.
    • Proof of Bank account (a cancelled cheque leaf of your NRO savings bank account)
    • Note: Copy of PAN card, Passport, Power of Attorney and Foreign address proof to be notarized by Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker in the country where the NRI resides. The attesting authority should affix a “verified with original” stamp, name, designation, signature and date on the said documents. In case client already have Trading Account anywhere than only passport needs to be attested, rest of the document can be self attested.
  13. Bank account requirement in India
    NRO Account:
    • Self-certified copy of NRO Saving Bank Statement.
    • Declaration from Bank that they will deduct TDS / withholding tax as may be applicable. PIS account is no more applicable for NRO Trading Account.
    NRE Account:
    • Self-certified copy of PIS permission letter issued by the Banker.
  14. Once Document is ready please courier document to us
  15. After receiving the document, we will update you with your back office and trading user Id and password
  16. Please refer the PIS bank list on NRI FQA Section.
    http://www.prostocks.com/trading/nri-trading.html

NRI Customer wants to trade in Equity Futures and Options:

If you intent to trade in Equity Derivatives Segment, you have to come through the custodial route. You will need to open NRO Custody Account. ProStocks offer NRO Custody account from ISSL, which is IL&FS Group Company. Your settlement obligation for trades in Equity Derivatives Segment will be done by ISSL from your custody account. ISSL charges custody account management charges and you need to do KYC with ISSL also. We will assist you in opening your custody account with ISSL. ISSL will permit custody account with assets not less than USD 5000.

 

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Is your stockbroker charging you too much? Has your financial adviser saddled you with investments that are not helping you reach goals? Is your health insurance policy low on benefits and high on premium? Maybe it's time you considered switching financial service providers.

Thanks to changes in the financial services arena, shifting from one service provider to another is no longer complicated. But while choice is good, switching to other alternatives requires careful deliberation. In this story, we guide you through some of the options to consider, should you decide to junk your existing service provider and embrace another.