Which app should I use to invest in Indian and US stocks?
For Indian stocks, Zerodha or Groww; for US stocks, INDmoney's GIFT City account. Zerodha charges nothing to buy and hold equity (delivery) and Rs 20 or 0.03% per order, whichever is lower, for intraday, and its free Varsity lessons teach the basics. Groww charges Rs 0 to open and maintain an account and Rs 20 or 0.1% per order, whichever is lower (minimum Rs 5), with direct mutual funds in the same app. For US shares, INDmoney lets you start with $1 through an IFSCA-regulated account, at 0.25% brokerage per trade plus the bank's 0.5% to 1.2% forex charge. Money you send abroad counts against the RBI's $250,000-a-year Liberalised Remittance Scheme limit, TCS of 20% applies above Rs 10 lakh a year (adjustable against your tax), and foreign holdings must be reported in your return. Rule: a low-cost Indian broker for the core, US stocks as a small slice.
The RBI's own FAQs on the Liberalised Remittance Scheme, under which a resident individual can send up to USD 2,50,000 a year abroad for permitted purposes, investing in foreign shares included.
Zerodha's own price list: equity delivery is free (Rs 0 brokerage), intraday trades cost Rs 20 or 0.03% per order, whichever is lower, and every options order is a flat Rs 20.
Groww's price list: Rs 0 account opening and maintenance, equity brokerage of Rs 20 or 0.1% per executed order, whichever is lower (minimum Rs 5), and direct mutual funds at zero charges.
INDmoney's US stocks account, regulated by IFSCA through GIFT City: buy US stocks and ETFs from $1 with a free account, 0.25% brokerage per trade and a 0.5% to 1.2% forex conversion charge from the bank, with zero TCS up to Rs 10 lakh a year.
