Getting Started

Online Account Opening

We, as an entity, try our best to avoid using bulk amounts of paper for application forms and strive to reduce usage of paper by promoting forms to be signed electronically, by using the Aadhaar eSign process online.

How do I open an account online?

To open an account online, you can sign up using your mobile number on our website. You will receive an OTP to your number and you can get started with the process. You will be required to enter your Email ID, PAN, bank details and personal details to continue with the sign-up. If you face any difficulties while opening an account online, you could contact your Sales Manager or alternatively call us on (+9180) 46702020

Should I send any documents if I open my account online?

No, you need not send any documents physically if you open an account online.However, since the nomination form cannot be filled online, you will need to send us a physical copy of the form if you wish to nominate a family member to your demat account. You can print, fill & sign the nomination form and send the form to the below address: Firstock: No.350, 37th B Cross, 7Th Main Road, Jayanagar 5th Block, Bangalore – 560041

What documents do I need to open an account online?

You need the following documents to open a Firstock demat account online:

  • Your PAN Card
  • Your Aadhaar
To complete the e-Sign process, you will have to authenticate it with an OTP. So, make sure you have the mobile number linked to your Aadhaar (mandatorily). If not, you will not be able to complete the process
Bank Details: Account Number and IFSC code
Income proof - It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, you can submit any one of the below documents:
  • Form-16
  • Income Tax Return Acknowledgment
  • 6-month Bank statement
  • Latest 3 Months salary slips
  • Demat holding statement, or
  • Net worth certificates from a CA

Offline Account Opening

How do I open an account offline?

You can call 080 4670 2020. You will be assigned a sales manager who will be sending you the account opening forms for the respective segment via email.
Alternatively, you can find the application forms here on our website.
You will have to print out the forms, fill it up and sign it. If you need help at any point of filling out the application form you can call us on 080 4670 2020.
Application Form: Trading Account & Demat Account
Once you fill it up and sign it, you have to send the application forms over to the below address:
Firstock: No.350, 37th B Cross, 7Th Main Road, Jayanagar 5th Block, Bangalore – 560041

What documents do I require to open an account offline?

  • Passport size Photograph
  • Proof of Identity (POI)
  • Proof of Address (POA)
  • Bank Account details
  • Income proof (For Derivatives only)
Please note: All Document submitted have to be self-attested

Which address should I send my forms to?

All forms have to be sent to Firstock Corporate office.
The address is -No.350, 37th B Cross, 7Th Main Road, Jayanagar 5th Block, Bangalore – 560041

Can I arrange a pickup of my account opening documents?

Yes, you may arrange for a pickup of all the documents relating to the process of account opening.
Assigned sales manager will arrange pick up the application form your doorstep. Please note that pickup is subject to availability.

Company, Partnership & HUF Account Opening

Company

How to open a Corporate account for a private or public company?

You can call 080 4670 2020. You will be assigned a sales manager who will be guide you through the process of opening corporate.

What documents do I require to open an account offline?

The required documents to be sent by a Company to open an account are:

  1. Duly filled documents of the Trading & Demat.
  2. Photographs of the Authorised Signatories/Whole Time Directors. The photographs should have the signature across them. The company seal should also be affixed in the forms.
  3. The PAN card copy of the Company and the PAN card copies of each Authorised Signatory/ Whole Time Director of the firm.
  4. Address proof copy of the Company and the address proof copy of each of the Authorised Signatory/ Whole Time Directors of the Company.
  5. Proof of Bank account (A copy of a cancelled cheque leaf/ Bank statement/ Bank passbook/ Letter from the Bank). The proof should have the seal and signature of the Authorised signatory.
  6. A copy of the Balance Sheet of the Company for the last two financial years which is to be submitted every year. (The balance sheet should have the seal and signature of the Authorized Signatory on all the pages)
  7. Income proof documents of the Company, which shall include:
    • 6-month Bank statement/passbook of the company account
    • Latest audited Profit and Loss statement
    • ITR (Income tax return) Acknowledgement
    • If the Company is newly incorporated, then a net worth certificate from a Chartered Accountant and an Income Tax Return declaration is required. If the return hasn't been filed, declaration of Income Tax returns has to be submitted.
      Note: If any of the directors is a foreign national or an NRI, then the KYC forms have to be notarized by Authorized officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/ consulate general in the country that they reside.
  8. The Certificate of Incorporation of the Company with the seal & signature of the Authorized Signatory of the company.
  9. The Memorandum of Association (“MOA”) and the Articles of Association (“AOA”) of the Company. The first 4 pages of the MOA & AOA should have the seal and signature of the Authorized Signatory of the company.
  10. Form 32 filed by the Company. (In case the names of present Directors do not appear on the MOA/AOA).
  11. Photographs of Individual Promoters holding control – either directly or indirectly.
  12. A FATCA declaration of the Company and all the Directors.
  13. Duly filled annexures (With the authorized director's signature and the company's seal affixed on the authorized director's signature) and board resolution.
  14. Individual KYC form filled and signed by each whole-time/ executive director (The director has to sign without the stamp on individual KYC's and supporting docs)
  15. A physical verification, as part of the mandatory IPV requirement for all brokers, is required for non-individual accounts. Either a representative of the client would require to visit a Firstock branch office OR a representative of Firstock would be required to visit the offices/residence of the client to complete the IPV procedure.
  16. If an individual is a shareholder of the applicant, having more than 25% of shareholding or capital or profits of the applicant,the individual should identify as an ultimate beneficiary and is required to submit Annexure A. In case no natural person is identified the senior managing, official may be considered a natural person.
  17. If an entity is a shareholder of the applicant, having more than 25% of shareholding or capital or profits of the applicant, the entity should identify as an ultimate beneficiary and is required to submit Annexure A along with -
    • self-attested copies of the KYC documents of the Whole Time Director/ Individual Promoters of such an entity holding 25% or more; AND
    • shareholding pattern (with the company letterhead) of the entity holding 25% or more.

HUF

How to open a HUF account?

You can call 080 4670 2020. You will be assigned a sales manager who will be guide you through the process of opening HUF account.

What are the documents required to open a HUF account?

A HUF may open an account at Firstock after duly submitting the below documents:
The Karta seal/stamp is mandatorily required on all the signature fields and proofs required. All KYC documents are also required to be attested by the Karta.

  1. Duly filled documents of the Trading & Demat
  2. Photograph of the Karta and signed across by him
  3. The PAN card copy of the HUF and the PAN card copy of the Karta
  4. Address proof copy of the HUF and the address proof copy of the Karta of the HUF
  5. Income proof in the form of the Bank Passbook/ Statement of the HUF indicating its existence
  6. Photocopy of the PAN card of the Co-parcener
  7. Duly filled declaration and annexures required
  8. A physical or webcam verification, as part of the mandatory IPV requirement for all brokers

Limited liability partnership

How to open an account as a limited liability partnership at Firstock?

Any partnership firm or LLP may open a partnership account with Firstock.
You can call 080 4670 2020. You will be assigned a sales manager who will be guide you through the process of opening LLP account.

What are the documents required to open a limited liability partnership (LLP) account?

Documents to be provided for opening an LLP account at Firstock -

  1. Duly filled copies of Trading & DEMAT and/or form with a photograph of Authorized Signatory affixed and signed across
  2. Duly filled Annexures needed for an LLP (with the authorized partner's signature and the firm's seal affixed on the authorized partner's signature)
  3. Copy of the LLP Agreement duly attested by a notary public (investment clause must be mentioned). The first 3 pages of the LLP agreement (on all pages if lesser) should have the seal and signature of the Authorized Signatory
  4. A copy of the PAN
    PAN card copy of the Firm.
    PAN card of each individual Partner (Attested by each such partner)
  5. Address proof
    Address Proof copy of the Firm
    Address Proof copy of all the partners (Attested by Each Individual Partner)
  6. Proof of Bank Account (Specimen copy of cancelled check leaf/ Bank Statement/Bank Passbook/Letter from Bank)
  7. Copy of Balance Sheet of the Firm for the last 2 Financial Years* (to be submitted every year) if the firm is newly incorporated then, net worth certificate from CA. (The balance sheet should have the seal and signature of the Authorized Signatory on all the pages)
  8. Income Proof which shall include:
    6-month Bank statement/passbook of the partnership account.
    Latest audited Profit and Loss statement. ITR (Income tax return) Acknowledgement
    If the Company is newly incorporated, then a net worth certificate from a Chartered Accountant and an Income Tax Return declaration is required. If the return hasn't been filed, declaration of Income Tax returns has to be submitted.
    Note: If any of the partners is a foreign national or an NRI, then the KYC forms have to be notarized by Authorized officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/consulate general in the country that they reside.
  9. Duly filled Board resolution
  10. Copy of Certificate of Registration (For Registered LLP Firms only) (Investment clause must be mentioned)
  11. Latest percentage interest of each partner/ shareholding in the Partnership firm, attested by a partner
  12. FATCA Declaration
  13. Individual KYC form filled and signed by each partner (Partners have to sign without the stamp on individual KYC's and supporting docs)
  14. A physical verification, as part of the mandatory IPV requirement for all brokers
  15. If an individual is a shareholder of the applicant, having more than 15% of profits sharing of the applicant, the individual should identify as an ultimate beneficiary and is required to submit Annexure A.
  16. If an entity is a shareholder of the applicant, having more than 25% of shareholding or capital or profits of the applicant, the entity should identify as an ultimate beneficiary and is required to submit Annexure A along with -
    (a) self-attested copies of the KYC documents of the Whole Time Director/ Individual Promoters of such an entity holding 25% or more; AND
    (b) shareholding pattern (with the company letterhead) of the entity holding 25% or more.
    In case no natural person is identified the senior managing, official may be considered a natural person

Partnership

How to open a partnership account?

Any partnership firm open a partnership account with Firstock.
You can call 080 4670 2020. You will be assigned a sales manager who will be guide you through the process of opening partnership account.

What are the documents required to open a partnership account?

As a Partnership firm, the partners of the firm are required to provide certain documents and undertakings to open an account with Firstock.
The account may be opened under any one of the Partner's’ name or under the name of all the Partners. The required documents to be sent are:

  1. Duly filled documents of the Trading & DEMAT and/or forms along with the photographs of the Authorised Signatories and signed across by them.
  2. Duly filled Annexures required for a partnership.(with the authorized partner's signature and the firm's seal affixed on the authorized partner's signature)
  3. A copy of the Partnership Deed which is duly attested by a public notary. (Investment clause must be included in the deed). The first 3 pages of the partnership deed (on all pages if lesser) should have the seal and signature of the Authorized Signatory.
  4. The PAN card copy of the firm and the PAN card copies of each individual Partner of the firm.
  5. Address proof copy of the firm and the address proof copy of each of the Partners of the firm.
  6. Proof of bank account (A copy of a cancelled cheque leaf/ bank statement/ bank passbook/ letter from the Bank)
  7. A copy of the Balance Sheet of the partnership firm for the last two financial years which is to be submitted every year and if the firm is newly incorporated, then a net worth certificate from a Chartered Accountant is required. (The balance sheet should have the seal and signature of the Authorized Signatory on all the pages)
  8. Income proof documents of the firm, which shall include
    6 months Bank statement/passbook of the partnership bank account.
    Latest audited Profit and loss statement.
    If it is a newly formed partnership firm, then a net worth certificate from a Chartered Accountant and an Income Tax Return declaration is required. If the return hasn't been filed, declaration of Income Tax returns has to be submitted.
    Note: If any of the partners is a foreign national or an NRI, then the KYC forms have to be notarized by Authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/consulate general in the country that they reside.
  9. A Foreign Account Tax Compliance Act (FATCA) Declaration from the Firm and all the Partners of the firm.
  10. A copy of the Certificate of Registration (For Registered Partnerships only)
  11. Aadhaar of the Authorized Person as per the Letter of Authority on the letterhead of the firm [Not mandatory]
  12. A physical verification, as part of the mandatory IPV requirement for all brokers, is required for non- individual accounts. Either a representative of the client would require to visit a Firstock branch office OR a representative of Firstock would be required to visit the offices/residence of the client to complete the IPV procedure
  13. Individual KYC form filled and signed by each partner (Partners have to sign without the stamp on individual KYC's and supporting docs)
  14. If an individual is having more than 15% of profits of the applicant, the individual should identify as an ultimate beneficiary and is required to submit Annexure A. In case no natural person is identified the senior managing, official may be considered a natural person.

Additional Documents to be provided for opening a partnership account in case a company is a partner-
A. In case the company is KYC registered, a Board Resolution is required to verify the authorized signatories.
B. In case the company is not KYC registered, the following documents and annexures should be signed by authorized directors with the company's stamp:

  1. KYC of the company and the Promoters/Directors of the company
  2. Pan card and address proof of the company
  3. Pan card and address proof of the directors with self-attestation (without the stamp)
  4. MOA and AOA of the company (The company's MOA should authorize the company to be a partner in the partnership firm)
  5. Balance sheet for the latest two years, If the company is newly incorporated then we required a net worth certificate from CA along with ITR Declaration annexure
  6. Required Board resolution, Latest shareholding pattern, List of directors Annexure, Annexure-A with specimen signature and photograph (these annexures and board resolution are to be provided on the company's letterhead)
  7. Certificate of incorporation with authorized director seal and signature.

NRI Account Opening

How to open an account as a NRI?

A Non-Resident Indian (NRI) may open a demat & trading account with Firstock by linking his/her Non-Resident Ordinary (NRO) or Non-Resident External (NRE) savings bank account.
A Portfolio Investment Scheme (PIS) permission letter from the Reserve Bank of India (RBI) is to be obtained before you can open a demat and trading account with a brokerage in India. The Bank where you have opened an NRI/NRO account will help you obtain a PIS permission letter, after providing certain documents.
As a non-resident, you could open an NRE & NRO account simultaneously. Only one account can be mapped to your demat & trading account. By mapping an NRE account, you can only trade in the Equity segment, whereas, through an NRO account, you could trade in both equity & derivative segment.
There are various documents which are required to be sent along with the printed & filled up account opening form while opening a demat & trading account with Firstock, which are menUoned as below:
Copy of PIS permission letter; (In case you would like to open a Non-PIS account by linking your NRO Savings Bank account, please click here)
Copy of FEMA declaration to NCO Securities and Share Broking Pvt Ltd
Copy of PAN card
Overseas address proof — Copy of driving license/foreign passport/utility bills/bank statement (not more than 2 months)/notarized copy of rent agreement/leave & license agreement/ Sale deed
Indian address proof, if any
Passport size photograph
In case of an Indian Passport: Copy of valid passport with the place of birth as India and Copy of Valid Visa
In the case of Foreign Passport: Copy of Valid passport, Copy of PIO/OCI card.
Proof of Bank account (a cancelled cheque leaf of your NRE or NRO savings bank account)
Note: Copy of PAtt card, passport, and foreign address proof to be self-attested and notarized by Indian embassy or any other competent authority like Authorized officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/consulate general in the country that they reside in the country where the NRI resides. The attesUng authority should affix a “verified with original” stamp, name, designation, signature and date on the said documents
Declaration of P.O. Box in your residing country; and
Foreign Account Tax Compliance Act (FATCA) Declaration Form
Note: In case you wish to open 2 accounts (NRE & NRO) we would require 2 sets of applicaUon forms and the annexures.

What are NRE and NRO accounts and is it mandatory to open a NRI account?

An NRI can either open an NRO or NRE savings account to invest in the Indian Stock Markets. For trading in Futures & Options, an NRO account will have to be linked to the trading and demat account.
Non-resident External Account (NRE):
An NRE account is a bank account where both the principal and the interest earned can be repatriated. You can transfer foreign currency from your foreign bank account which gets converted to rupees when it hits your NRE account.
Funds kept in the NRE account can be converted back into dollars and can be transferred back to your foreign account along with the interest earned. This ability of money to be moved from a foreign country to the investor’s home country is called repatriability. Non-resident Ordinary Account (NRO):
The major distinguishing factor is that money cannot be transferred from an NRO account to an NRE account. Also, money transferred from an NRE account to an NRO account cannot be transferred back to the NRE account. The ability of money to be moved from a foreign country to the investor’s home country is called repatriability.
NRO has restricted repatriation. Non-resident Ordinary Account (NRO) is a bank account where principal and interest only up to $1 million per year can be repatriated. For trading in futures and options, a NRO account is required to be linked to your trading account.

What is a PIS Letter and how do I get this PIS Letter?

Portfolio Investment Scheme (PIS) is a scheme of Reserve Bank of India under which NRIs can purchase or sell shares of Indian companies on Stock Exchanges. You can get the PIS letter with the help of the bank where you have opened your NRI/NRO account. To get the PIS permission letter, the NRI has to apply for it at a bank that the RBI has authorised to administer the PIS.
All PIS route stock transactions are routed through a designated branch of the bank. The NRI/PIO has to apply to a designated branch of a bank, which deals in Portfolio Investments.
We will support only clients who have their PIS account with Axis, HDFC Bank, Yes Bank or ICICI bank.

How to open an NRO non-PIS account?

NRIs can now acquire and hold, on a non-repatriaUon basis: equity shares, converUble preference shares, convertable debenture, warrants, or units that will be considered domesUc investments at par with investments made by residents using their NRO accounts.

  • No requirement of PIS to trade through this route, thereby saving reporUng & other costs levied by banks.
  • Trading experience will be similar to that of a standard resident account NRIs invesUng via the NRO-non PIS route can invest without any limits.
  • No restriction on the NRO bank account that can be linked (not only those accounts Firstock has partnered with, but any bank can be mapped).
  • Brokerage of Rs 100 per executed order
  • Investing in mutual funds can be made across all asset management companies (AMCs) and all funds. (Except for NRIs who are tax residents of the US and Canada)
To open an account, raise a Ucket below and our team will reach out to assist. Documents required to open an NRI Trading and Demat account are:
  • Account opening form
  • PAN - one copy (Attested by a Competent Authority*)
  • Passport - one copy (Attested by Competent Authority*)
  • NRO Cancel cheque -1 leaf (In case of non-availability you can provide a bank statement of the NRO account)
  • Foreign address proof - 1 copy (Attested by a Competent Authority*)
  • Indian address proof - 1 copy
  • FEMA declaration- 1 copy
  • ATCA/CRS declaration- 1 copy
*Competent Authority: Indian Embassy/Consulate General/Notary Public/Any Court/ Magistrate/Judge/Local Banker in the country where the NRI resides. The aNesUng authority should affix a "verified with original" stamp, name, designaUon, signature and date on the said documents. If you are KYC verified as an NRI (you hold/held an NRE/NRO trading account earlier), there is no requirement of these attestations.
Restrictions:
  • NRI can trade only delivery based.
  • No intraday/BTST trading on equity/stocks allowed.
  • Equity F&O through a CP (custodial participant) code.

How do I map my PIS account to Firstock?

Axis Bank:
To map your PIS account with the broker Firstock you need to submit an LOA. Kindly also send us a scanned copy of the same. We will forward to Axis bank to map Firstock as the broker.
Yes Bank:
If client not mapped to broker Firstock - Please reach out to your Relationship Manager at Yes Bank and ask them to map your account with the broker Firstock please submit the LOA and share a copy with us, and we'll have the same updated.
This is the debit instrucUon that you'll need to submit for mapping the broker.
HDFC Bank:
You will have to send us the below-attached annexure to us:

  1. E-Net: E-Net form for ensuring quick reflection of your NRE PIS account balance on Firstock for trading Account. We’d receive an automated update of your PIS account balance.
  2. Debit authorization: This is to update the registered broker in the authorized bank records.
  3. Sweep-in DeclaraUon: Authorizing the bank to debit the NRE/NRO-SB account in case there is any shortage of funds in the PIS account.
You will have to download and send these 3 annexures along with your applicaUon form to the address below and we will send this to the bank by aNaching a broker letter.
Firstock NRI desk (address): No.350, 37th B Cross, 7Th Main Road, Jayanagar 5th Block, Bangalore - 560041
These above forms are a requirement at HDFC’s end to map the PIS account to the broker and assist in the smooth funcUoning of the accounts. Please reach out to the bank for more clarification.

Can a NRI trade in Futures & Options?

Yes, a Non-resident Indian can trade in equity futures and options.
Yes, NRIs can trade in the F&O segment of the exchange out of the rupee funds held in India on a non-repatriate basis. NRIs are required to get a Custodial ParUcipant (CP) code to trade in F&O. We, at Firstock, have Ue-ups for custodial business (currently with ORBIS), and a CP code will be assigned to you. Once you have the CP code, all the funds for trading F&O will sit with the custodian, similar to how all your funds for trading stocks sit with your bank.

Can NRIs open a joint DEMAT account?

Yes, NRIs can open a joint account.
The PIS account and the trading account would be in the first account holder’s name. The second holder should also be a NRI and should submit the KYC documents along with FEMA declaraUons and the FATCA.

How do I convert my NRI account to a resident account?

To convert your NRE/NRO account to a resident trading & demat account the following documents would be required:

Account modification form Required to update the bank and address details of your demat account
Trading account closure form Required for closing the NRI trading account (2 copies if you're holdings both NRE and NRO accounts)
Trading application form Required for opening a resident trading account
Photographs One. Paste on the KYC form and sign across it.
PAN card 1 copy, self-attested
Address proof 1 copy, self-attested - (Driving License, Voter ID, Passport, Aadhar Card, Bank statement, etc. -Any 1)
Income proof 1 copy, self-attested - (Latest salary slip, ITR, Form 16, 6-month bank Statement, etc. - Any 1) -Needed for derivaUves trading (FO)
Bank proof Personalized cancelled cheque (name printed on it) or bank statement or bank passbook copy (With visible bank account number, MICR and IFSC code)

Note: Only one account can be converted to resident account either NRE or NRO. Since a brokerage firm cannot open mulUple resident trading accounts with the same PAN details, we will do a closure cum transfer for the other account.

Can I convert my existing account at Firstock to an NRI account?

You will be allowed to convert your existing account into an NRI-NRO trading & DEMAT account.
Note: A conversion of individual resident account to an NRI-NRE account is not possible. An alternaUve is to transfer your holdings to another residenUal account and close your resident account and open a new NRI(NRE) account. (Share transfer from a resident account to an NRI(NRE) account is not allowed).
An NRE account is a bank account where both the principal and the interest earned can be repatriated. A NRO has restricted repatriaUon. For trading in futures and options, an NRO account is required to be linked to your trading account.
Documents required to convert the existing resident account to NRI account -

  • Account Modification Form - To update the Bank details and Overseas address in the CDSL.
  • Copy of FEMA declaration
  • FATCA DeclaraUon Form
  • DeclaraUon of P.O. Box - This is only for those who reside in the UAE countries.
  • Trading Closure form for closing the resident trading account
  • Trading applicaUon form
  • Notarised Copy of PAN card*
  • Notarised copy of Overseas address proof* – Copy of Driving License/Foreign Passport/UUlity Bills/Bank Statement (not more than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed
  • In case of an Indian Passport: Notarised Copy of valid passport* with the place of birth as India, Copy of Valid Visa
  • In case of Foreign Passport: Notarised Copy of Valid passport*, Copy of PIO/OCI card.
  • Proof of Bank account (a cancelled cheque leaf of your NRO savings bank account). (Either Axis or HDFC Bank)
  • Copy of PIS account/NRO-Investment account letter to map to the trading account. (Either Axis or HDFC Bank)
*Note: Copy of PAN card, Passport, and Foreign address proof to be notarized by Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker in the country where the NRI resides.
When you open an NRO-PIS account/NRO-investment account, you will have to update the bank about your existing holdings and would be required to update them in the ledger maintained at the bank's end. The following details are to be menUoned on an annexure (purchase date, the name of the scrip, cost of acquisiUon, etc) which is included in the PIS form and submitted to the bank.
We aren't supporUng Mutual Fund investments for NRI's at present and this could take us a while to introduce. If you do have any Mutual funds in your holdings, you would have to redeem them or need to transfer the units to another account.
The charges for NRI accounts are menUoned in our website. Once we receive all the requisite forms and documents, the conversion will be completed in 3 working days.

I'm moving abroad, Can I continue to use my Firstock trading account?

You can use the account if you're moving abroad for a short-term period (6 months). The status doesn't change to NRI. Anything over a period of 6 months, you become an NRI and should change the account.
If a person leaves India for the purpose of employment, business or for any other purpose that indicates his intention to stay outside India for an uncertain period; then he becomes a non-resident from the day he leaves India for such.
In both the cases, the onus is on the client to declare his residenUal status. You can either convert your existing Trading & DEMAT account to an NRO trading & DEMAT account or close your resident account and open a new NRI account.

Is attestion of supporting documents mandatory for opening NRI accounts?

Attestation is compulsory in the following scenario:
If you aren’t KYC verified as an NRI, you will need to get the Attestation of the PAN, Passport and Foreign Address proof from one of the following -

  • Authorised officials of overseas branches of scheduled commercial banks registered in India
  • Public notaries
  • Court magistrate
  • Judge
  • Multi-National banks having operations in India
  • Indian embassy/consulate general in the country of residence
Attestation is not required for the following scenarios:
  1. If you are present in India and visiting any of our branches/partner offices, the Attestation wouldn't be required. You can submit the self-Attested documents along with a copy of the latest immigraUon stamping. (Please carry the original while visiting our office)
  2. Attestation is not required if your current NRI address is registered in your KYC.

Charges at Firstock

What are the charges for opening an account at Firstock?

There is No Account Opening Charges in Firstock

What are the various statutory charges like stamp duty and taxes etc.?

Whenever you make a trade (any segment) apart from paying brokerage you’ll be charged taxes as well, as per Government rules.
The taxes/charges are as below:
SecuriUes/CommodiUes transaction tax: Tax by the government when transacUng on the exchanges. Charged as below on both buy and sell sides when trading equity delivery. Charged only on the selling side when trading intraday or on futures and options.
Charges at Firstock
When trading at Firstock STT can be a lot more than the brokerage we charge. It's important for you to keep a tab on this & place trades accordingly.
STT for equity delivery - 0.1% on buy & sell
STT for equity intraday - 0.025% on the sell-side
STT for equity futures - 0.01% on sell side
STT for equity options - 0.05% on sell side (on premium)
Note - STT charged will be rounded off to the nearest rupee. Exchange transaction charges:
Equity - NSE - 0.00345% of turnover, BSE - 0.003% of turnover Equity futures - 0.00220% of turnover (NSE)
Equity options - 0.0540% of premium turnover (NSE)
The transaction charges in XC, XD, XT, Z, and ZP groups on BSE are Rs.10,000 per crore (i.e. 0.1%) w.e.f 01.01.2016. (XC and XD groups have been merged into a new group X w.e.f 01.12.2017). The transaction charges in SS and ST groups on BSE are Rs.1,00,000 per crore (i.e. 1%) of gross turnover.
Goods & services tax (GST): 18% on brokerage + transaction charges
You may be charged Central, State, or Union Territory GST depending upon your state of residence. However, the GST charge percentage will remain constant.
SEBI charges: Rs. 5 per crore (of turnover)
Stamp Duty:
Equity delivery: 0.015% or ₹1500 / crore on buy side Equity intraday: 0.003% or ₹300 / crore on buy side Equity futures: 0.002% or ₹200 / crore on buy side Equity options: 0.003% or ₹300 / crore on buy side

What is the Account Maintenance Charge?

The Annual Maintenance Charge is now renamed to Account Maintenance Charge. The Account Maintenance Charge (AMC) is the cost to maintain your demat account and thus, it is applicable only for the demat account maintained with us,
AMC for maintaining a demat account at Firstock:
Rs. 300 + 18% GST - For individuals, HUFs, NRIs and partnership firms
Rs. 1000 + 18% GST - For corporates, i.e., LLPs and private & public companies The AMC is directly charged from your trading account balance once in a quarter.

Is there any minimum balance that I have to maintain to keep my account active?

No, you do not need to maintain any minimum balance to keep your account acUve at Firstock.

Are there any hidden charges while trading at Firstock?

We believe in being transparent about our charges. So, we have put up the enUre charge list on our website.The account opening applicaUon forms also have tariff sheets with them stating the complete list of charges.

General

What is power of attorney (PoA) and why is it needed?

Power ofattorney (POA) is a document that gives us the authorization to debit your shares from your demat account whenever you sell your shares.
If you have not submitted the POA, you will be able to place delivery sell instructions by using the CDSL TPIN if you have an individual account. Demat accounts of corporates or partnerships cannot avail the CDSL TPIN facility.

What is In-Person-Verification (IPV) and why is it needed?

All brokers are required to carry out an In Person Verification (IPV) process for all clients. IPV is a process where the broker verifies the client and his documents in person, as per the circular set by SEBI.
It is compulsory for every client to go through the IPV before opening a Trading and a DEMAT Account. IPV to be done online using a webcam.
As real-Time IPV is to be done, we would require you to show this OTP from the mobile or written on a piece of paper, so that it is visible on the webcam. The webcam would then take a series of photos from the video to capture the OTP as shown by the client correctly for our needs.

How do I know when my account is open, how long does it take?

If you have applied for opening an account with Firstock and sent across your applicaUon, it generally takes 24-48 working hours for your account to be acUvated. Any discrepancies in the submitted forms or documents would delay the account opening process.
Once your account has been opened, you would receive a welcome email from 'no-reply@Firstock.com' to your registered email address.

How do I add a nominee to my Firstock demat account?

In case an individual is opening an account using the online process, it would be assumed that the individual has temporarily chosen not to nominate a nominee.
In case the individual wishes to nominate a person, he or she would have to fill out a nomination Form and courier it to our head office address.
It's important to note that the nomination will be applicable to your trading + demat account. Since the nominee will be added to your demat account, the same nominationwill be applicable to your Coin (mutual funds) holdings as well.
Note:
1. If you want to change the nominee aSer you have already opened your account and nominated someone, you will be charged Rs 25+18% GST. For this, you will have to send the hard copies of the nominationform along with the Account Modification form.
2. Non-individual accounts cannot have a nominee.

How do I open a trading account without opening a Demat account?

You can’t open a trading account without opening a Demat account with Firstock. A Demat account is required even if you trade:

  • Equity intraday- As open intraday positions can go into delivery if the position is not closed before the end of the day. These shares are required to be settled to your Demat account.
  • F&O contracts- All Stock F&O contracts starting from October 2019 are being settled physically, which requires the stocks to be settled to a Demat account in case of taking delivery position and debited from the Demat account for giving delivery positions.

Where can I find the POA (Power of attorney)?

You can download the POA here. The POA requires to be signed and couriered to our office as this document has to be franked.
The POA is to allow your broker to debit shares from your demat account when you sell them on the exchange. If you have not submitted the POA, you will be able to place delivery sell instructions by using the CDSL TPIN provided you are holding an individual, joint, NRI, or a minor demat account.