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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 Participant (CP) code to trade in F&O. We, at Zerodha, have tie-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. 

You can create a ticket below and a sales manager will be assigned to you who will help you with the same.