Yes, swing trading only, although I am not sure if I have ever tried day trading in my accounts. I have never had the need even with profits etc since I usually use SnR (TA) to do my trades using Daily Charts, and hence I need a few days before I would sell. The shortest trade I have done is probably 2 weeks, and with the recent volatility I might be doing a few even shorter as the bull gets long in the tooth.
Costs is something you have to control and negotiate based on the amount you trade. I will never move to Zerodha or other lower frills accounts since I like the premier account, better support, good RMs and also my rates are pretty low compared to my profits. I just feel that taxes and brokerage are good things generally (if you pay) since that means I am making money.
this is icici brokerage charges…Just wondering, is there any way to lower it down? Not sure if they charge any thing else for NRE PMS account. it would be nice if someone can share who uses icicidemat from USA from repatriable basis
Point 2 in my undertanding is dicey (specially NRE to NRO and then investment). Someone else can throw light. Instead the other approach is:
(US/ overseas account) —> Transferwise or something → NRE → NRE PINS account → Investment in India.
(US/ overseas account) —> Transferwise or something —> NRO —> Investment in India (or via NRO PINS account).
Each PINS account comes with own charges for each transaction and also annual charges.
On point 6, you need to get the status as of 31 December of the year (e.g. to declare assets, the holding statement as of a certain date is possible to be obtained. For the capital gains/ losses, only the calendar year matters again. (I am stating this from Europe perspective where we have the same challenge).
Anyone using Kotak NRO/NRE demat?. when enquired it was mentioned by Kotak that for USA/Canada customers only offline ordering is available (Order by email/phone with Relationship Manager). Is this correct?
If you are using it are you finding it convenient?
Is there any benefit of having a NRO PIS account at all when compared to Non PIS? I cant find any.
Experienced members can you please enlighten?
i am with Zerodha (DP, trading) and Yes Bank for five years. Planning to stay with Zerodha, but want to move to a different bank. My options are Axis Bank and IDFC First bank. Anyone using either? Which one’s better? For NRE PIS, are there limits to fund transfer? Can the funds transferred from bank to Zeriodha be used right away?
For your last question: I transfer funds (on behalf of my mother who is not an NRI) from her bank to her Zerodha account via NEFT and they are available for investment immediately. The funds are transferred back to the account every quarter and in case you don’t use the funds for about 3-4 weeks, then also they get transferred back to you bank. So, I need to keep transferring it again every time since we cannot find any good investment opportunties at the moment.