NRI Trading with ProStocks, Step by Step Guide.

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.

 

People in this conversation

  • Guest - Prabhjit

    I am working in Dubai and want to trade in currency and commodities.Please let me know how can i do so?

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  • Non Resident Indian are not allowed to trade in Currency Derivatives and Commodity Derivatives. NRI through NRO Trading and Custody Account can trade in Equity Futures and Options

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  • Guest - Kailas

    I already have a HDFC Bank PIS Account & HDFC Sec NRE Trading + Demat account since 2008.
    If I have to open account with you I would like to know the process.
    My present account is with NSDL as Depository, does Prostocks use same or different?
    Whether demat account will be with Prostocks or some other entity?
    In case of new account, how to transfer existing shares to ProStocks?
    Is it necessary to have embassy attestation in case of submitting the documents personally?
    Do you have any office in Pune, Mumbai, Nashik, Sangli, Satara city in Maharashtra?
    I may be visiting India n June this year, is it possible to get scan copy of application checked by email before carrying hardcopy in June for across the couter submission?
    In case of buy/sell transaction, does money flow to/from PIS account without transaction charges? Or there are any charges applicable?Please let me know in order to decide.

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  • [b]I already have a HDFC Bank PIS Account & HDFC Sec NRE Trading + Demat account since 2008. If I have to open account with you I would like to know the process. My present account is with NSDL as Depository, does Prostocks use same or different? Whether demat account will be with Prostocks or some other entity?
    [
    ProStocks will open your Trading and Demat Account , both. We are Depository Participant of CDSL. We will open your Depository account with us and not anywhere else.
    Since Your PIS Bank Account linked with HDFC Sec ( HDFC call this online PIS Account ) , Please note
    In case your Trading and Demat Account is with any other broker other than HDFC Securities , You can use the same account and can change the broker. In case HDFC Securities is your Broker , than you will need to open new PIS Account ( HDFC calls this as offline PIS Account , your existing account linked with HDFC Securities is online PIS Account )

    In case of new account, how to transfer existing shares to ProStocks?
    Is there any charges on transfer of Scrips from my previous DP to ProStocks DP?

    Your depository can neither charge you for account closure nor for transfer affected through closes and transfer instructions, per SEBI regulation.
    ProStocks will provide you CML ( Client Master List ) of your demat account with us. This CML along with closure form of your existing demat account needs to be submitted to your depository participant ( Broker ) and they cannot levy any charges. This is SEBI regulation.

    Do I need a DIS ( Delivery Instruction Slip) for moving my Demat Account from my previous Broker to ProStocks?

    In this mode of closure, DIS is not required. ProStocks will provide you CML ( Client Master List ) of your demat account with us. This CML along with closure form of your existing demat account needs to be submitted to your depository participant.

    Is it necessary to have embassy attestation in case of submitting the documents personally?

    At least your Passport need to be attested if you are not KRA and IPV compliant. Generally , All banker do verified with original without any cost to client.

    Do you have any office in Pune, Mumbai, Nashik, Sangli, Satara city in Maharashtra? I may be visiting India n June this year, is it possible to get scan copy of application checked by email before carrying hardcopy in June for across the couter submission?

    We are Mumbai based Online Stock Broker and have office in Mumbai. All NRI clients send color scan of form before courier. Physical form is must before activating the account.

    In case of buy/sell transaction, does money flow to/from PIS account without transaction charges? Or there are any charges applicable?Please let me know in order to decide.
    There are no charges on money movement by your Banker. However You Banker will charges you per contract note basis agreed between you and HDFC.

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  • Guest - Harry Jackson

    nice

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