IB : how do non-Indians trade Indian markets?

Discussion in 'Retail Brokers' started by joesan, Jul 5, 2009.

  1. joesan

    joesan

    Recently IB began to offer Indian products to non-Indian customers. ( commisions seems to be much more competitive than local brokerages ) I checked but did not see how do foreiners register to trade Indian products ? £¨ Cannot set it up in the Account Management page ).
     
  2. zybex

    zybex

    They expanded their offer to non-resident Indians so you still need to have Indian citizenship to qualify.
     
  3. cstfx

    cstfx

    This seems rather contradictory. Would you elaborate?
     
  4. zybex

    zybex

    Ok. I think I misunderstood IB Communique. To trade
    on National Stock Exchange of India through IB you have to be either Indian resident or if you are not resident you need to have NRI status.
    So this new offer does not apply to non-Indian customers, it applies only to people with NRI status.
    I guess Indian citizenship is not necessary but NRI status is.
     
  5. Eight

    Eight

    Take an Indian to lunch...
     
  6. cstfx

    cstfx

    I'll pass. Don't want to deal with people who blame others for their failure and their emasculation (if you know who I mean).
     
  7. Indian citizenship is necessary. You can only be an NRI if you have an Indian passport. India does not recognize dual citizenship. So an Indian citizen residing in US on a permanent residency qualifies.


     
  8. Quite a broad brush you have there. I guess generalization can be applied to anyone.

     
  9. cstfx

    cstfx

    No, very specific brush. If you read the forums, you would know of whom I refer.
     
  10. toc

    toc

    I would check with IB directly and throw lots of questions to them. It does not sound practical to deny non-NRIs a chance of investing.
     
    #10     Jul 5, 2009