Non-PIS NRO Trading

Open No-PIS NRO Trading and Demat Account and start trading with India's lowest cost online stock broker for NRI's.

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 5 Bank viz Axis, HDFC, Kotak, 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 delivery, 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 delivery, Equity Futures and options (FNO)

2.

Order Type

Only Delivery

In FNO – intraday as well as short sales

3.

Bank A/C

NRE Savings and NRE PIS

NRO Savings

4.

Approved Banks

Only 5 Bank viz Axis, HDFC, Kotak, 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

Steps to open NRO Non-PIS Trading Account

  1. Click on Fill Application Online

  2. On the left-hand side - register your information like Name, email id, Country-code, Mobile Number, select status as Non-Resident.

  3. Generate OTP 

  4. OTP will be delivered on your email id with the subject “ProStocks Registration OTP”. Please remain on the page, while you receive OTP on your email id and need to submit OTP in the same session.

  5. Validate OTP in the OTP box, which may have opened.

  6. After OTP validation, your email id is your login id and Mobile Number without country code is your password for login next time. Generally, you may complete the whole KYC process in 20 minutes, however, you may take the more than one session to complete KYC. 

  7. Post OTP validation, you will reach Basic Information Page and need to fill- PAN Number, Name as PAN Card, Date Of Birth, Country of Birth and Type of account you wish to open, select Trading and Demat Account and further select NRO. Aadhar Card is an optional field. NRI is not required to have an Aadhar card and may not submit.

  8. E-KYC have 5 section – Basic Information, Preference details, Additional details, Select and pay, Submit document. In case your Bank is not there in Payment Gateway, you will be given the option of Cheque. It is advisable to make payment using UPI to [email protected] or NEFT to Account Name: SUNLIGHT BROKING LLP ,Account Number: 00600340080912 ,Bank/Branch: HDFC BANK, FORT ,Account Type: Current Account ,IFSC Code: HDFC0000060

  9. Submit scan image of Pan Card, Passport with Valid visa page of the Passport, Photo, Cancelled cheque leaves, Address proof etc. Make sure each document is less than 2 MB. The photo is in JPG format and all other documents are in pdf format. You would need to submit all the document same time.

  10. When your document gets upload successfully, Generate PDF button will get highlighted. Click and Generate PDF. Please check that all your information is captured correctly.

  11. Those who are KRA and IPV compliant can sign PDF digitally (in case you have a digital signature or sign digitally based on Adhaar OTP). You need to sign Nomination Form and PoA physically and need to courier to our Mumbai Office. Those who are not KRA and IPV compliant, Print PDF and do required client Signature and witness. You need to notarized/attest your document

Documents required for opening Non-PIS NRO Account

Following are the document required for opening NRO Trading and Demat account:

  1. Self-certified copy of PAN card.

  2. Self-certified copy of Overseas address proof – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not older than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed. NRI residing in Gulf countries and not having any of the above overseas address proof can give Declaration of P.O. Boxin your residing country.

  3. Self-certified copy of Indian address proof, if any. Providing Indian address in KYC is voluntary. You may provide for your own benefit.

  4. Passport size photograph

  5. In case of an Indian Passport: Self-certified copy of valid passport with copy of Valid Visa

  6. In the case of Foreign Passport: Self-certified copy of valid passport, Copy of PIO/OCI card.

  7. Proof of Bank account (a cancelled cheque leaf of your NRO savings bank account)

Note 1: Copy of PAN card, Passport, Power of Attorney and Foreign address proof are required to be attested. Attestation can be done by the Indian Embassy or any other competent authority like Consulate General or Notary Public or Overseas Banker or Indian Banker. The attesting authority should affix a “verified with original” stamp, name, designation, signature and date on the said documents.

Note 2: Attestation is not required when your KRA status and IPV status is Y (Yes) and no change is required from your previous KRA. For checking your KRA status go to KYC inquiry menu on www.cvlkra.com

You can start our account opening even before your Bank account gets opened.

You May follow the below-given process:

  1. Filling of EKYC on Fill Application Online with dummy Bank Account data and generate PDF file

  2. Checking of PDF file by ProStocks Team

  3. Response by ProStocks Team after checking 

  4. Print, sign, witness and send scan image of the full set to [email protected] for one more round of checking

  5. Couriering the entire set of ProStocks to Indusind Bank /Yes Bank / Axis Bank, as the case may be along with Bank KYC form and with instruction to Bank to attest your document and provide us attested document along with ProStocks KYC set. This facility is available only when Bank account is opened through our Relationship Manager in respective Bank.

  6. ProStocks will open your account next day when the above said Bank confirm your account opening.

Note: NRI can open NRE Trading and Demat Account or NRO Trading and Demat Account or both, NRE as well as NRO Account.

NRO Account for Equity Delivery Trades 

ProStocks will map NRO Saving Bank Account with your NRO Trading Account. You can have many NRO Saving Bank Account with same Bank or many Banks and all can be mapped to your Trading Account for transferring funds to ProStocks. You can have NRO Savings bank Account in any Bank of your choice and there are no restrictions on the number of Bank-supported. You will operate your NRO Saving Bank Account for equity trades like Resident Indian. You can transfer funds to us any time, you can withdraw your funds from ProStocks any time with just one exception, compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax (TDS).

You will also need to open NRO Saving Bank Account. You no longer required to open NRO Invest Account (similar account was earlier called NRO PIS Bank Account). ProStocks can assist you in opening your Bank Account. No PIS Bank Account required.

The dividend will be credited to your NRO Savings Bank Account (Primary Bank Account, in case of more than one Bank Account) by the respective companies whose shares are held in your NRO Demat account on the record date for dividend.

You need to transfer funds from your NRO Savings Bank Account before buying. Once you buy, ProStocks will send you contract note same day and credit shares to your Demat Account on securities payout day. Generally you are expected to sell after shares credited to your Demat Account and not before. You can buy shares next day against credit to be received in your trading account on funds payout day of previous day's sale minus withholding tax liability, if any.


Similarly, when you sell the shares, ProStocks will send you contract note same day and credit your Trading Account with us on funds payout day. You can buy shares next day against credit to be received in your trading account on funds payout day of previous day's sale, minus withholding tax liability, if any. RBI reporting is not required for NRO Account after February 2016 but compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax (TDS) is required.

ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1965 for a fixed fee of Rs 1k p.a (waived for account opened before 1st July, 2020) and you would be able to trade in equity segment just like Resident Indian. No Custody Account, No hassle of dealing with Custodian or PIS Banker besides Stock Broker. No PIS Bank Account required.

NRO Account for Equity Derivatives (F&O)


You will need to open NRO Saving Bank Account. ProStocks can assist you in opening your Bank Account.

ProStocks will map NRO Saving Bank Account with your NRO Trading Account. You can have many NRO Saving Bank Account with same Bank or many Banks and all can be mapped to your Trading Account for transferring funds to ProStocks. You can have NRO Savings bank Account in any Bank of your choice and there are no restrictions on the number of Bank-supported. You will operate your NRO Saving Bank Account for equity derivatives trades like Resident Indian. You can transfer funds to us any time, you can withdraw your funds from ProStocks any time with just one exception, compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax (TDS).

ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1965 for a fixed fee of Rs 4k p.a (waived for account opened before 1st July, 2020) and you would be able to trade in equity futures and options just like Resident Indian. No Custody Account, No hassle of dealing with Custodian besides Stock Broker.

You are no longer required to open custody or custodial account with ISSL or anyone when you do equity derivatives trades through ProStocks. Since you are not required to open Custody Account, you will save a significant amount, which was otherwise, you were required to pay to Custodian. ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

  • ₹100 per executed order (Lowest NRI Trading Fees).
  • No minimum commitment. No deposites.
  • Zero AMC for demat & trading account.

Why trade with ProStocks?

  • We are SEBI registered stock broker and depository participant.
  • Trade on Equities, Futures, and Options on the NSE and BSE.
  • We offer cheapest brokerage for NRI trading. You pay ₹100 per executed order, irrespective to segment or size of the order.
  • Our powerful trading platform include free mobile trading app, website and installable trading terminal.

NRI Trading Account Enquiry

Getting started with ProStocks

You're one step closer to open NRI Trading Account, and we're here to guide you through this process to make sure clearly understand the steps of the process.

Just send us an email at [email protected] with your contact information. We'll get back to you within a day time.

You can also call at +91 22 62 43 43 43 number between 9:00 am to 8:00 pm IST on week days.

For WhatsApp Contact

  +91-8850317671

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