Prostocks Vs Choice Broking NRI Account Comparison

• ProStocks is the most popular broker for NRI Trading Account.
• Prostocks charges a flat fee of Rs 40 per trade which is the cheapest fee charged by any broker in India.
• No minimum deposit or funds are required.
• GTC (Good Till Cancel) and AMO (After Market Order) are available.
• Advance order types like BO, CO, OCO, etc are available.
• Mutual Funds, Equity SIP, and IPO is available.
• Trading APIs are available at flat Rs 1000 per month.
• Demat and Trading accounts at Prostocks are lifetime AMC free.
• NRI customer doesn't require a separate Custodial Account to trade in Equity F&O. CP code no longer mandatory for NRo trading in futures and options .

• Free account opening.
• Advisory services with access to a wide range of research reports.
• Convenient Mutual Fund investment through a mobile app or website.
• Dedicated relationship manager.

• Doesn't offer a 3-in-1 account. An NRI has to open an NRI Bank Account before opening a trading and demat account.

• Higher brokerage charges when compared to other discount brokers.
• Do not offer 3-in-1 account services.
• Do not provide an online account opening facility.

Prostocks offer online trading service at the cheapest brokerage rate to the NRIs. It has partnerships with 5 popular banks in India to offer NRI trading. The free account opening and AMC free demat & trading account is an added advantage for the NRI customers. Prostocks doesn't provide research and advisory service. It suits well for frequent traders who execute 100's of trades daily.

Choice Broking is a SEBI registered full-service broker offering trading and advisory services with a 2-in-1 account facility to the NRIs. The company offers online trading platforms to NRI for stock markets and mutual fund investments. Being a full-service broker, the brokerage charges are slightly on the higher side making it a costly broker for the NRIs. The company has a dedicated research team that provides insights on the economy and the markets along with a wide range of research reports to its clients based on its fundamental and technical analyses.