ICICIdirect.com launches online facility for NRIs

ICICIdirect.com, the largest online trading platform in India, has launched its online futures and options (F&O) trading facility for non-resident Indians (NRIs) in the Gulf.

The online facility offers safe and secure transactions through its fully integrated trading site.

"This launch provides an opportunity to NRI customers to create short-term trading positions and benefit from market volatility," said Vishal Gulechha, Head Product Equity, ICICI Securities. "The F&O trading facility would act as an effective tool for risk management and hedging by reducing potential downside. Customers would be supported through timely trading strategies from an expert research team," said a statement.

F&O are critical financial instruments for risk management as they allow risks to be separated and more precisely controlled from volatile and uncertain situations. This provides NRIs the opportunity to capitalise even in falling markets and volatile situations.

"The large number of Indians in the Gulf provides the right platform for us to launch this type of product. We have been providing advisory and investment solutions in the GCC," said Anup Bagchi, Executive Director of ICICI Securities.

Follow Emirates 24|7 on Google News.