Bahrain Based Non Resident Indians (NRIs) will not need intervention of any middle man to manage their investments in Indian markets. Thanks to the new online trading site launched by Indian firm UTI Securities Limited and its associate company in Bahrain, Indo-Gulf Financial Services Limited.

They shed considerable light on the benefits to be offered by the site, which will serve as a useful source for NRIs to oversee their portfolios. Also, the investors were guided on the volume of stock transactions made online will soon overtake that of those conducted through broker.

Apart from saving on time, customers will have the benefits to trade at ease in their home, in cyber café, or office, as it simply needs an internet connection. High returns on investments in the last few years have seen a decent inflow of NRI investments in stock market, says UTI Securities vice-president and e-brokering head Rakesh Singh.

With the help of online trading that the site envisages to offer, the consumers need not call any broker. The customer will just require to log-in to the site and make investments.

The site offers the prospect to make investments in equity, Initial Public Offering (IPOs) and mutual funds, Mr. Singh adds. Unlike brokers who charge 1.25%, the site charges a flat brokerage fee of 0.5% including transaction costs, says Mr. Singh. Bahrain can be an upcoming market as it is on the verge to become a financial hub for the entire Gulf Region.

The company is looking forward to draw interests from Indians living in Bahrain. Also, there are a number of NRIs residing in other GCC countries, who wish to make handsome investments in stocks.

The company has several plans to pursue. However, it wants to accomplish its target of gaining at least 500 NRI customers in Bahrain after one year, and providing them with an insight into the influence of online trading, reveals Mr. Singh.

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