ICICIDirect.com today launched the overseas trading in partnership with US-based fourth largest clearing and broker-dealer firm Penson Financial Service thus becoming the second entity after Reliance Money, to enable trading in stock that include shares, ADRs, index options and ETFs on the New York Stock Exchange, American Exchange and Nasdaq and other instruments in global markets like Nasdaq & Nyse.
For this service individuals will have to pay one time fee of
Rs 999 to register for overseas trading and will have to remit the money to US, through ICICI Bank’s authorised branch. Brokerage
will be 0.75% or $9 whichever is higher.
As Reserve Bank’s guideline allowing individuals to remit up to 2,00,000 dollars annually in current and capital account transactions, including equities, currency & Overseas realestate.