Axis Direct is a full-time discount broker, a subsidiary of Axis Bank Ltd, one of the largest private banks in the country.

The financial institution is set up to offer a varied service portfolio to the customers. If you are an NRI and wish to delve into the Indian stock market, look no further than Axis Direct.

This article mainly focuses on Axis Direct NRI Account Review and dives deep into the unique features and services the company offers to its NRI customers.

Moreover, you will learn about Axis Direct NRI Account Charges. Have a read!

Broker Type Full Service Broker
Account Opening Charges Rs.2,500
AMC Rs.1,000 + 18% GST
Delivery Trading Allowed
MF Investment Allowed

Why Invest with Axis Direct NRI Account?

Below, we have listed the top reasons why an NRI must invest in an Axis Direct NRI account:

  • With Axis Direct, NRIs get access to 4-in-1 account opening services. The accounts include a PIS and non-PIS bank account, a trading account, and a Demat account.
  • It also has a comprehensive list of investment options, such as equities, IPOs, derivatives, mutual funds, and ETFs.
  • Investments through Axis Direct can now be made over a call.
  • The firm promotes competitive interest rates, thereby reducing customer investment costs.
  • The Axis Direct NRI Account holders can rely on the dedicated customer support offered by the firm. It guides them with investments and resolves their queries quickly.
  • It promises a streamlined online account opening process, and online account management becomes a cakewalk with the firm.

Axis Direct NRI Account Opening Charges

Account Opening Charges

Rs.2,500

Annual Maintenance Charges (AMC)

Rs.1,000 + 18% GST

The full-time discount broking company charges a certain amount from the NRI for account opening. The customer must pay the firm Rs.2500/- as an account opening fee.

NRI can operate a 4-in-1 investment account with Axis Direct by paying the account opening fee. The account opening charges are now only Rs.1,000 thanks to the firm’s special discount.

On the other hand, for Axis Direct NRI Account AMC, the firm charges Rs.1,000+ 18% GST.

NRI is responsible for paying the company an annual maintenance charge, which may be subject to change.

Axis Direct NRI Account Brokerage Charges

Equity Delivery (PIS)

0.75% of Transaction Value

Equity Delivery (Non-PIS)

0.60% of Transaction Value

Equity Intraday

NA

Equity Future

0.05% of Transaction Value

Equity Option

Rs.100 per Contract

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

You should familiarise yourself with the Axis Direct NRI Account Brokerage charges for more informed investing if you wish to begin your trading and investing journey with them.

To trade in equity delivery (PIS), the customer must pay 0.75% of the transaction value; for equity delivery (Non-PIS), the customer must pay 0.60% of the transaction value.

Axis Direct doesn’t have an intraday trading facility for equity. Moreover, NRIs can access the equity futures and options at 0.05% per trade and Rs.100 per contract.

However, other financial instruments like commodity options, commodity futures, currency options, and currency futures are currently unavailable.


How to Open Axis Direct NRI Account?

You must follow a step-by-step procedure to Open an Axis Direct NRI Account.

  1. Click on the “Open NRI Account” tab on this page.
  2. Residents must fill out the open form with appropriate details.
  3. You will receive a call from Axis Direct Executive.
  4. Now comes the registration part, where you must input your PAN and DOB and click “Proceed to Personal Details.”
  5. Your details will be auto-filled in this section if your KYC is registered.
  6. Select the bank and bank account number in this step and click proceed.
  7. Now comes the product selection. Choose the trading segment and make a payment.
  8. Upload all the required documents and click on Proceed.
  9. Preview the application, click ESIGN AND ACTIVATE INSTANTLY, and proceed to the Esign application.
  10. Complete the Esign by entering the Aadhaar/VID number in the given box and clicking the Send OTP button.
  11. Validate the OTP, and your application to open a demat and trading account is complete.

Documents required to Open Axis Direct NRI Demat & Trading Account

NRI Account Opening Form

Mandatory (Signed by NRI)

PAN Card of NRI

Mandatory

Overseas Address Proof

Mandatory (Driving License, Bank Statement, Overseas Passport)

Indian Address Proof

Mandatory (Aadhaar, Driving License, Indian Passport)

NRE or NRO Bank a/c Cancelled Cheque

Mandatory

OCI / PIO Card

Mandatory

Valid Passport

Mandatory

Valid VISA

Mandatory (Work/Student/Employment/Resident Premit)

PIS Letter from Bank

Mandatory

Passport Size Photograph

Mandatory

Account Opening Charges Cheque

Mandatory

Demat Opening Fee Cheque

Mandatory

To Open an Axis Direct Non-Resident Indian Account, the documents listed below must be furnished as directed by the firm.

  • Get the account opening form and fill it with relevant particulars. Also, sign it before submitting it.
  • As an identification document, submit a soft copy of your PAN card.
  • To prove that you are an NRI, you must submit proof of your overseas address, such as a driver’s license, bank statement, or other document.
  • Ensure you also keep the supporting documents for Indian address proof ready.
  • Request cancelled cheques from the bank for Non-Resident External (NRE) or Non-Resident Ordinary (NRO) bank accounts and submit them to the firm.
  • Provide a copy of the Overseas Citizen of India (OCI) or Person of Indian Origin (PIO) card.
  • To open the NRI account, you must have a valid passport, visa, and a recent passport-size photograph.
  • The bank must provide a Portfolio Investment Scheme (PIS) letter, allowing the NRI to invest in Indian stocks.
  • Before closing the submission, ensure you furnish account opening charges and the demat opening fee cheques.

Axis Direct NRI Account – Top Features

Discover the best features of Axis Direct for NRI to elevate your trading to a new level.

  • The firm offers a 4-in-1 account for convenient trading and investing.
  • NRI customers can trade with the firm using advanced software tools and experience swift trading.
  • NRIs can invest in various financial instruments, such as equity, stocks, derivatives, ETFs, IPOs, NCDs, and mutual funds.
  • You are a call away to trade with Axis Direct.
  • Receive free stock research and tips from the mavens in the field.
  • Get your hands on value-added services like portfolio tracker, push notifications, investment and trading ideas, etc.

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Axis Direct NRI Demat Account - Products Provided

Equity Delivery

Yes

Equity Intraday

No

Equity Option

Yes

Equity Future

Yes

Commodity Option

No

Commodity Future

No

Currency Option

No

Currency Future

No

Mutual Funds

Yes

By opening an Axis Direct NRI Demat Account, NRI customers can access many top-notch financial products.

Although Intraday is unavailable with the firm, NRIs can still trade in equity option, equity delivery, and equity future.

However, Axis Direct doesn’t lend trading support for the commodity and currency segments. For investing enthusiasts, a mutual funds investing platform is always available.

Axis Direct NRI Trading Account - Services Provided

Demat Services

Yes

Trading Services

Yes

Intraday Services

No

F&O Services

Yes

IPO Services

Yes

PMS or PCG

Yes

After learning about the products, it is time to uncover the services offered to Axis Direct NRI Trading Account holders.

First and foremost, the firm provides Demat and trading services, which are mandatory for an NRI to participate in the Indian stock exchange.

The stockbroker assists you in opening and maintaining the accounts. In addition, NRIs can trade and invest in Futures and options (F&O) seamlessly with the stockbroker.

Moreover, NRIs can trade in IPOs too. NRIs can effortlessly maintain their investment portfolio using the PMS or PCG services offered by the firm.

Axis Direct NRI Desk Helpline & Support

NRI Customer Care Number

1800-210-0808

NRI Email Support

helpdesk@axisdirect.in

Trading Support

Yes, Free

Dedicated Dealer

Yes, Free

Website Support

Facebook Support

Whatsapp Support

NA

Twitter Support

Telegram Support

NA

Axis Direct has consistently been at the forefront of providing service to its non-resident Indian clients. NRIs can call the customer care helpdesk at 1800-210-0808 to clarify their doubts.

Alternatively, you can compose a mail with your queries and send it to helpdesk@axisdirect.in. Besides, customers can receive free trading and dedicated dealer support under Axis Direct NRI Support.

The stock broker also provides website support to its customers. Moreover, Axis Direct is just a tweet away via social media handles like Facebook and Twitter.

Axis Direct NRI App & Trading Platforms

Web Trading Platform

Trading Terminal

Available

Algo Trading Platform

NA

Foreign Stocks Trading Platform

NA

Basket Trading Platform

NA

Mutual Fund Investment Platform

Available

Here are some of the best trading platforms Axis Direct offers its customers. The stockbroker has everything under its belt, from apps to web terminals to investment platforms.

Axis Direct Ring: Trade anytime, anywhere with the Axis Direct Ring app for Android.

Receive potential investment suggestions from the app, which scans over 25,000 real-time stock market instruments before making a suggestion.

The app presents research ideas from expert analysts. It uses 100+ technical studies through live charting. Experience personalized dashboards and speedy executions with Ring.

Axis Securities iOS App: The Axis Direct Ring mobile app is also available for iOS devices. The app offers trading opportunities every 60 seconds.

Through the app, users can invest in multiple assets, such as stocks, mutual funds, derivatives, commodities, currencies, and IPOs.

In addition, customers can access predefined charts and option strategies for better trading.

Web Trading Platform: There is a dedicated Axis Direct NRI Trading Platform for the web, which is increasingly comfortable to use on distinct devices.

Receive live market updates by marking the market ticker on the page. Get a simplified card view of the important information about your investments.

There is also access to dedicated trading terminals and mutual fund investment platforms.

Axis Direct NRI Account - Research & Advisory

Fundamental Reports

Available

IPO Reports

Available

Technical Reports

Available

Stock Tips

Available

Daily Top Stock Picks

Available

Relationship Manager

Available

Robo Advisory

NA

Firstly, the firm offers its customers odds and ends of the documents called fundamental reports through which customers can learn about the fiscal stability of the firm.

IPO reports are also provided to the customers. Besides, customers can get their hands on technical reports.

Moreover, the company offers stock tips and daily top stock picks to the customer for effortless trading.

Coming to Axis Direct Advisory for NRI, dedicated relationship manager support is available for the NRI customers.


Axis Direct NRI Charges

In addition to the brokerage charges, some hidden charges are incurred in trading with Axis Direct.

SEBI Turnover Charges: The SEBI charges for all segments is Rs.10/crore for all trading segments.

DP Charges: Customers must pay Rs.20 per each share they sell through the firm.

GST: As we said earlier, GST remains the same, which is 18% on (Brokerage + SEBI + Transaction charges)

Account Closure Charges: The firm closes the account for free. NRI customers need not pay any charges to close the account with the firm.

Reactivation Charges: However, if you want to reactivate your NRI account, the Axis Direct Hidden Charges for NRI are Rs.100.

Dematerialization Charges: For requests for dematerialization of the certificates or shares, the firm would charge Rs.50 from the NRI.

Call & Trade Charges: For each successful trade carried out on a call, the firm charges Rs.25 per.

Axis Direct NRI Demat Account - STT Charges

Equity Delivery

0.1% on buy & sell

Equity Intraday

NA

Equity Future

0.0125% on sell

Equity Option

0.0625% on sell (on premium)

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

Axis Direct NRI Trading Account - Stamp Duty Charges

Equity Delivery

0.015% on buy

Equity Intraday

NA

Equity Future

0.002% on buy

Equity Option

0.003% on buy

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

Axis Direct NRI Account - Transaction Charges

Equity Delivery

0.00335% (NSE) & As per Stock (BSE)

Equity Intraday

NA

Equity Future

0.002% (NSE & BSE)

Equity Option

0.053% (on premium)

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

Axis Direct NRI Account - Pledge & Margin Charges

Pledge Creation Charges

Rs.50 per Request or 0.04% of Value (whichever is higher)

Pledge Invocation Charges

Rs.50 per Request or 0.04% of Value (whichever is higher)

Interest on Margin Trading

0.07% per day

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Axis Direct NRI Account Hidden Charges

SEBI Turnover Charges

Rs.10/ Crore (All Segment)

DP Charges

Rs.20 per Scrip only on Sell

GST

18% on (Brokerage + SEBI + Transaction charges)

Account Closure Charges

Nil

Reactivation Charges

Rs.100

Dematerialisation Charges

Rs. 5 per certificate or Rs. 50 per request (whichever is higher)

Call & Trade Charges

Rs.25 per Trade


Axis Direct NRI Account Review – Conclusion

We are closing this article with Axis Direct NRI Account Review. The total discount stockbroker is the be-all and end-all of trading, and its features say it all.

With a 4-in-1 account, an NRI can do more than what meets the eye. With the dedicated relationship manager support and various tech-infused trading tools and platforms at your command, you have an added advantage with the firm.

You can work with the company to begin your ideal trading experience if you are willing to pay a slightly higher fee.


FAQs on Axis Direct NRI Account Review

We have answered some of the frequently asked questions for you.

How do you open an NRI Demat Account in Axis Direct?

The clear-cut procedure for opening an NRI demat account in Axis Direct is provided in the dedicated section above. Please refer to it.

How do I convert Axis Direct Account to NRI?

To convert a resident account into an NRI account with the firm, you must submit a duly filled form along with photocopies of all the necessary documents to the firm for verification.

What is AMC for NRIs in Axis Direct?

The stockbroker does charge an Annual Maintenance Charge from the NRI. Currently, it charges Rs.1000 + 18% GST from the NRI as AMC.

What are Account Opening Fees for NRIs in Axis Direct?

Unlike its counterparts, which charge less brokerage or zero brokerage for account opening, Axis Direct charges Rs.2,500/—for opening an account.

Which assets are restricted from trading in Axis Direct for NRIs?

Certain assets, such as commodity options, intraday equity, currency options, commodity futures, and currency futures, are restricted from trading in Axis Direct.

Can an NRI invest in Mutual Funds in Axis Direct?

Yes, the firm has a mutual fund wing. Moreover, NRIs can invest in various funds, such as debt, equity, and hybrid funds.

What is the Brokerage for Axis Direct NRI?

The brokerage fees at Axis Direct are higher than those of its counterparts. For equity delivery PIS, the brokerage fee is 0.75%, and for non-PIS, it is 0.60%.

For equity futures, the firm charges 0.05% per executed trade. Similarly, equity options are Rs.100 per contract.

Can an Axis Direct NRI Account be Opened Online?

Yes. You can only open an Axis Direct NRI account online. The offline channel has yet to be available.

What is the Helpline Number for Axis Direct NRI?

NRIs with trading or investment-related queries can contact the customer care number at 1800-210-0808.

Which documents are required to open an Axis Direct NRI Account?

A stockbroker requests that an NRI submit a particular set of documents to open an NRI account.

Without furnishing all the listed documents, an NRI cannot open an account with the firm. Refer to the required documents in the afore section.


 

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