Invest › Stocks & MFs › NRI brokers
📈 Step 1 of 3 · Open demat

Best NRI brokers · 6 compared

AMC, brokerage rate, PIS support, US-NRI access (FATCA). Zerodha cheap-DIY, ICICI Direct premium-service, HDFC Sec balanced.

⚡ Match me to a bank ↗ Step 2 · PIS → Step 3 · MFs → Hub →

⭐ Top picks · digital-first

Zerodha
⭐ Cheapest NRI broker
Equity brokerage
₹0
F&O
₹100/order
AMC/yr
₹400
PIS
Yes · IndusInd
Open Zerodha NRI ↗
ICICI Direct
⭐ Premium NRI service
Equity brokerage
0.55%
3-in-1 acct
Yes
AMC/yr
₹500
PIS
In-house
Open ICICI Direct ↗
HDFC Securities
Bank-backed · 3-in-1
Equity brokerage
0.50%
3-in-1 acct
Yes
AMC/yr
₹750
PIS
In-house
Open HDFC Sec ↗

Bank-backed alternatives

Kotak Securities
Best for US-NRIs (FATCA-friendly)
Equity brokerage
0.49%
3-in-1 acct
Yes
AMC/yr
₹600
PIS
In-house
Open Kotak Sec ↗
Axis Direct
Bank-backed · slabs
Equity brokerage
0.50%
3-in-1 acct
Yes
AMC/yr
₹650
PIS
In-house
Open Axis Direct ↗
ProStocks
Discount alternative to Zerodha
Equity brokerage
₹100/order
F&O
₹100/order
AMC/yr
₹500
PIS
Yes
Open ProStocks ↗
⭐ Our pick

For DIY NRIs, Zerodha. For full service, ICICI Direct. For US-NRIs, Kotak.

Zerodha = ₹0 brokerage + ₹400 AMC saves ~₹15K/yr vs ICICI Direct on a ₹50L portfolio. ICICI's premium service includes 3-in-1 (NRO + demat + trading) under one login + research + relationship manager. Kotak handles US-NRI FATCA paperwork cleanly when others stumble.

DIY · cost-conscious

→ Zerodha (₹0 brokerage)

Zero brokerage on equity delivery. ₹400/yr AMC. Kite app is the cleanest UX. Pair with IndusInd PIS for the bank-side. Best for NRIs comfortable picking their own stocks/MFs and wiring funds via NRE/NRO themselves.

Full service · 3-in-1

→ ICICI Direct (with NRE/NRO)

Single login for NRE + NRO + demat + trading. Built-in PIS routing. Research reports + relationship manager. Costs ~0.55% per trade vs Zerodha's ₹0 — worth it for NRIs who want hands-off + research.

US-NRIs · FATCA-friendly

→ Kotak Securities

Kotak's NRI desk handles W-9 + Form 8938 paperwork without pushback. Some Indian brokers reject US-resident NRIs at onboarding; Kotak processes them cleanly. Worth the slightly-higher AMC for US-NRIs who've had FATCA friction.

Continue · stocks & MFs steps

Each is its own focused page.

Step 2
PIS vs Non-PIS
Which routing scheme should NRIs use.
Step 3
Mutual funds & ETFs
Best AMCs + platforms for NRIs.
Hub
Stocks & MFs overview
All steps on one page.