To the @moderators - This is not support related questions. This is a general question! Do not Un list this.
Let us assume that I’m a NRI in some foreign country.
I have NRI trading account and I’m trading in it.
At the same time can I trade in a normal account (of my relative who is Indian) from foreign country ?
Can I trade in that account for them (Indian account) from foreign country ? (and i’m NRI )
This is possible if they allow access to the account.
This would depend on the family and if they’re okay with someone else handling the account on their behalf. A trade taken by one family member and goes bad, the other member can very easily come and say was unauthorized.
Suggest that if you’re an NRI and hold an NRI account, it’s best to trade only through that account. However, if you’d still want to trade in one of the family accounts then I suggest you please go through the Zerodha password policy
Assuming that relative has no problem with that.
Will I be allowed to trade from a foreign country ? Like will my IP get blocked because I’m accessing an Indian account (as a NRI).
I think something like this will not happen…?
Can I add other person (who’s Aadhaar or Pan card detail not put at the time of account opening ) bank account as primary account which don’t have an UPI ID or Net banking ID and withdrawal fund in that account ?
Yes you can trade from your own NRI account and you can trade from your relative account from anywhere in the world. There will not be any restrictions.
It is assumed that your relative would have given you permission to do the trade.
It is assumed that your relative account is active and there are no kyc issues. This is just like online banking.
Do understand the impliations. For record purposes, the shares which you will by buying will remain in your relatives names and if you sell shares the sale proceeds will go to his bank account.
For somereason, your relative goes to the broker and puts a stop on his account without you knowing then everything will be suspended.
As far as operations is concerned - there is no restrictions.
Actually, NRI accounts have a higher brokerage, so what if I trade in a Indian account and then transfer it(if I profit from my trades) from India(normal brokerage) to some other country (bank account). @ShubhS9 With the statement that I gave above, Is it legally allowed to so so ?