Is E*TRADE available in India? Alternatives in 2023!

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker that surpassed major financial crises, showing resilience and a rigorous risk management process.

Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from +90 markets¹, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.

On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy (but fully online), and the broker doesn’t offer commission-free trading. 

Want to know more about Interactive Brokers? Check our Interactive Brokers Review.

Zerodha allows Indian citizens to trade in a wide range of financial instruments, including stocks listed on Indian stock exchanges (NSE and BSE) and commodities like gold, silver, and agricultural products on commodity exchanges (MCX and NCDEX).

Indian investors can trade in the currency markets through Zerodha, participating in the trading of major currency pairs like USD/INR. Zerodha’s platform, Coin, enables users to invest in mutual funds directly. It provides a convenient way for them to build a diversified portfolio of mutual funds with no commission fees.

It also provides access to government and corporate bonds, as well as fixed deposits, allowing investors to explore fixed-income investment options, and allowing users to apply for IPOs online, making it easier for them to participate in the primary market.

Zerodha offers a wealth of educational resources, including webinars, online courses, and market analysis reports, which helps users to learn about investing and trading in financial markets. It facilitates the opening of Demat and Trading accounts, which are essential for buying and holding securities in electronic form.

Zerodha’s trading platform, Kite, is user-friendly and provides real-time market data, advanced charting tools, and order placement capabilities. Besides, it offers a mobile app that allows users to trade and monitor their portfolios on the go, making it convenient to stay connected to the markets.

It is known for its transparent and cost-effective brokerage structure, which benefits users by reducing the overall cost of trading and investing.

Vested Finance is an online investment platform offering an app designed for Indian investors seeking to invest in US stocks and ETFs. Vested lets you trade over 5,000 US stocks and ETFs. Moreover, you can buy fractional shares; for example, you can buy a portion of Amazon or Google for as little as $1.

The app’s intuitive design ensures that beginners and experienced investors can navigate the platform easily. Real-time price feeds, news updates, interactive charts, and fundamental data are readily available on the app, empowering investors with up-to-date information for making informed decisions. Additionally, Vested provides research content and exclusive insights into the US markets, allowing investors to stay informed about market trends and identify investment opportunities.

Vested offers a range of investment options to cater to different investor preferences. Investors can choose from ready portfolios called “Vests,” curated portfolios comprising stocks and ETFs. These Vests are designed with various themes and goals, providing you with pre-selected diversified investment opportunities. Getting started with Vested is quick and convenient. The platform offers a fully digital onboarding process, allowing you to open an account within minutes. They partnered with a US-regulated broker, VF Securities, Inc., to provide Indian investors access to the US stock market.

Vested offers two subscription plans, Basic and Premium, each designed to cater to different investor needs. The Basic plan, available at a one-time fee of ₹250, provides essential features such as zero brokerage charges, easy money transfers, access to curated Vests, and basic research tools like AlphaScreener Basic. On the other hand, the Premium plan, priced at a monthly fee of ₹375.00, offers additional benefits, including unlimited free withdrawals with Vested Direct, advanced research tools like AlphaScreener Plus, priority support, and access to exclusive Vests and premium content.

INDmoney is a leading Indian investment platform that simplifies investing in US stocks listed on exchanges like NASDAQ and NYSE from India. It was founded in 2019 and is known for offering a zero-commission on US stocks. Opening an account with INDmoney is a fast and straightforward process, requiring just a few minutes to complete. Moreover, INDmoney has partnered with reputable US brokers, including Drivewealth, LLC and Alpaca Securities LLC, to ensure a secure and compliant trading environment for Indian investors.

INDmoney’s Super Money App offers a wide range of features to empower users to manage their finances effectively. From Demat & Trading accounts to automatic money tracking, mutual fund investments, investment calculators, insurance services, IPO centre, advanced reports, INsta Cash, and credit score monitoring, the app provides a comprehensive suite of tools to help users achieve their financial goals and make informed financial decisions.

Regarding the minimum investment amount, INDmoney’s US Stocks account enables trading in fractional shares, allowing investors to invest as little as $1 in stocks like Apple, Netflix, Tesla, and more. The trading process is straightforward and can be done directly on the INDmoney platform. Investors can browse through the catalogue of US stocks and ETFs or consult their wealth manager to receive a customised investment proposal.

INDmoney provides a transparent fee structure, with no account opening fees or brokerage charges on US stock trading. However, the platform has a nominal INDmoney platform fee of 0.75% of the deposit amount, capped at ₹1000. Moreover, the cost of withdrawing funds from the US stock account back to an Indian bank account is $5 per request.

Groww is a comprehensive investment app that enables users to invest in a wide range of financial products, including US stocks and US ETFs. Founded in 2017, the app offers other investment options, such as mutual funds, SIPs, futures, and options. 

Groww’s app has features that aim to improve the investing process. It offers fractional shares, enabling users to invest in smaller portions of a share, accommodating smaller investment amounts. Additionally, the app provides comprehensive charts and analysis tools, empowering users to conduct thorough research on companies and make well-informed investment choices.

Groww provides customers with the convenience of opening an account online. The process is quick, easy, and completely paperless. There are no charges for opening an account, and there are no maintenance fees. To get started, download the Groww mobile app or visit their website to register and complete the setup process. Your brokerage account is managed by Viewtrade Securities (VTS), which works with Apex Clearing Corporation for trade clearing and custodian aspects of user accounts.

When it comes to pricing, Groww maintains transparency with $0 brokerage fees for US stocks. However, they state that the exchange imposes a $0.02 fee on each sell transaction. And for withdrawals, Groww charges $9 per transaction to cover the fees levied by their US counterpart bank.