Are NRIs allowed to trade in equity intraday and F&O segments?
NRIs (Non-Resident Indians) are not permitted to trade equity on an intraday basis in India. All equity transactions must be delivery-based in line with FEMA/RBI rules. NRIs may trade in the Futures & Options (F&O) segment via an NRO Non-PIS account with a Custodial Participant (CP) code. The same account can also be used for equity delivery.
Equity trading restrictions for NRIs
The table below summarises the allowed and restricted equity activities for NRIs.
| Activity | Permitted | Notes |
|---|
| Intraday trading | No | Equity orders must result in delivery settlement. |
| Short selling | No | Selling without owning shares is not permitted. |
| Delivery-based trading | Yes | Allowed via PIS or Non-PIS accounts based on repatriability. |
Account setup for F&O trading
F&O participation is available through an NRO Non-PIS account with a CP code issued via FYERS’ partner custodian. This setup also supports equity delivery through the same account.
- Route: NRO Non-PIS (market trades settled with non-repatriable funds).
- Custody: CP code required before placing F&O orders.
- Note: PIS accounts do not support F&O trading.
If you currently operate a PIS account for equity delivery, F&O access is unavailable on that route. To trade F&O, use an NRO Non-PIS account with a valid CP code.
What if…
| Scenario | What you should know |
|---|
| You place an intraday equity order | It may be rejected or handled per platform safeguards to comply with delivery rules. |
| You want to trade frequently | Equity must remain delivery-based; F&O is available via NRO Non-PIS with CP code. |
| You’re unsure about the product type | Use Delivery/Overnight for equities to ensure compliance. |
| You have a PIS account | F&O isn’t available on PIS; open an NRO Non-PIS account for F&O and delivery-based equity in one place. |
| You want to add F&O access later | Request CP code issuance and custodian setup through us. |
Last updated: 13 Aug 2025
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