February 26, 2010
Us Nri And Indian Citizen Online Trading Or Mutual Funds?
As an US NRI and indian citizen, when I approached ICICI it refused me online trading facility? How I can invest in Indian stock market and mutual funds when I have an account in my name.
I was told from ICICI that these facilities are only allowed to middle eastern country NRI. Seems little weird to me.
Methinks you are in for a shock if, as US NRI, you think you can trade mutual funds in India. On a relative scale, the system over here is so primitive that you are wasting your time. The funds are peddled here for a fee by brokers and banks and no load mutual funds are very rare in India. Just stick to US fund nvestment for now and wait for the local mutual fund business mature to international level first. Good luck.