The 4 platforms, head-to-head
This table compares the four platforms that actually work for an Indian resident or a non-US NRI investing in US stocks. The fees and limits below are what's published as of May 2026 — verify on the issuer site before opening an account.
| Platform | Min investment | FX markup (USD) | Per-trade fee | Fractional shares | Best for |
|---|---|---|---|---|---|
| VestedIndian-built, US clearing via DriveWealth | $1 | ~88–100 bps | $0 most trades | ✓ Yes | First-time US stocks from India |
| INDmoneyIndia wealth dashboard + US stocks | $1 | ~80–100 bps | $0 most trades | ✓ Yes | Tracking Indian + US wealth in one app |
| StockalSimilar to Vested + research overlay | $1 | ~99 bps | $0–$2.99 depending on plan | ✓ Yes | Investors who want curated research stacks |
| Interactive BrokersGlobal broker, IBKR India / IBKR UAE | $0 (Lite plan) | ~2 bps (institutional) | $0 (Lite) / small per-share (Pro) | ✓ Yes (most stocks) | Active / advanced users, global market access |
Methodology: ranked on FX markup (the biggest hidden cost), per-trade fees, minimums, and UX for the target audience. IBKR has the best raw economics but a steeper learning curve. Vested wins on simplicity for first-timers.
The platforms in detail
Vested
Editor's first pick (resident Indians)When it makes sense: You're new to US stocks, want a clean app, don't need advanced order types, and the bulk of your money flows from an Indian bank account.
- How it works: Open an account → KYC + W-8BEN → link Indian bank → remit USD via LRS → buy US stocks (fractional supported)
- FX cost: ~88–100 basis points on the dollar conversion. Reasonable but not the cheapest.
- Trading fees: Zero on most US stocks. Withdrawal fees apply.
- What's good: Cleanest first-timer UX in India. Strong customer support. Pre-built theme baskets (e.g., "Mag 7", "EV", "AI"). Tax statements generated for Indian filing.
- What's not: FX markup higher than IBKR. Withdrawal can take 5–7 days. Crypto / options not available.
INDmoney
Best for India + US in one appWhen it makes sense: You already use INDmoney for tracking your Indian portfolio (mutual funds, EPF, fixed deposits) and want to add US stocks without switching apps.
- How it works: Same LRS-based flow as Vested. Brokerage via Drivewealth. Fractional shares supported.
- FX cost: ~80–100 bps. Marginally better than Vested on some corridors.
- Trading fees: Zero on most trades.
- What's good: Single app for Indian wealth + US stocks. Strong dashboard / net-worth tracking. Quick onboarding.
- What's not: US-stocks UX is a sub-feature, not the main product — less polished than Vested for pure US-stock workflow.
Stockal
Best for research-overlay usersWhen it makes sense: You want pre-built "stack" portfolios (curated US stock baskets around themes/strategies) and research overlays, not just raw trading.
- How it works: LRS-based flow, similar to Vested. Brokerage via DriveWealth.
- FX cost: ~99 bps.
- Trading fees: $0 on basic plan; small per-trade fee on Pro features.
- What's good: Pre-built "Stacks" (themed portfolios), proprietary research, more analyst-style content.
- What's not: Smaller user base, slightly less mature product. Some features paywalled.
Interactive Brokers
Best for advanced / global usersWhen it makes sense: You want institutional-grade FX (much lower spreads), access to dozens of global exchanges, options/futures, or you're an NRI in UAE / UK / Singapore / etc. where IBKR has a regional entity.
- How it works: Open account with the right regional entity (IBKR India for residents, IBKR UAE for UAE-residents, IBKR UK, etc.). Bank transfer → trade.
- FX cost: Institutional spreads (~2 bps + small commission). 50× cheaper than the India-based platforms.
- Trading fees: $0 (Lite plan) or per-share commission (Pro plan).
- What's good: Cheapest FX conversion. Global market access (US, UK, EU, HK, Japan, etc.). Strong order types. Margin available.
- What's not: Steep learning curve. Older UX. Higher minimums on some account types. Customer support is slow.
The tax angle (most pages skip this)
If you're a resident Indian, US stock gains are taxed in India. If you're an NRI, the tax treatment depends on which country you're a tax resident of. Here's the practical version.
For resident Indians
- Long-term capital gains (held 24+ months): 12.5% in India (post-July 2024 simplification — no indexation).
- Short-term capital gains (held <24 months): Taxed at your income slab rate.
- Dividends: 25% US withholding tax (lower than the standard 30% because of the India–US DTAA, applied automatically after you submit Form W-8BEN). You can claim foreign tax credit (FTC) in your Indian return using Form 67.
- LRS limit: $250,000 per financial year (April–March) per individual. Use Form 15CA / 15CB if remitting larger amounts.
For non-US NRIs (UK / UAE / Canada / SG / AU)
- India side: If you're a non-resident for Indian tax, US stock gains are NOT taxed in India.
- Host country side: Tax handling depends on your country's rules (UK has CGT, UAE has zero, Canada has capital gains inclusion, etc.).
- Dividends: Still 25% US withholding under W-8BEN (or sometimes 15% if your host country has a strong DTAA — UAE for example).
How I'd actually decide
If I had to pick one for someone asking me directly:
- You're a resident Indian, new to this → Open Vested. Use INDmoney if you want one-app convenience for tracking everything else too.
- You're a UAE NRI → IBKR UAE for the lower FX cost, unless you specifically want the India-based remit flow (then Vested).
- You're a UK / Canada / SG / AU NRI → Use a local broker. The India-based platforms aren't designed for your residency.
- You're an active trader / want global market access → IBKR is the only real answer. The learning curve pays back fast.
Common questions
Can resident Indians buy US stocks directly?
Yes, via the Liberalised Remittance Scheme (LRS). Each individual can remit up to $250,000 per Indian financial year (April–March) for foreign investments including US stocks, mutual funds, ETFs, even property abroad. The platforms above handle the remit + brokerage end-to-end.
Do I need to file extra forms in India for US investments?
You'll need to disclose foreign assets in your Indian tax return (Schedule FA in ITR-2 / ITR-3) if you're a resident Indian. NRIs don't need to disclose unless they have Indian-taxable income above the threshold. Form 67 to claim foreign tax credit on US dividend withholding.
What if I become an NRI mid-year — what happens to my Vested account?
Your account stays — but the LRS funding route stops working since LRS is for residents only. You'll need to re-document yourself as an NRI with the platform (W-8BEN as NRI, address proof, etc.) and find a different funding path (e.g., NRO/NRE-linked transfers). Some platforms handle this transition cleanly, others require closing and reopening.
Are these platforms safe? What if Vested shuts down?
Your US stocks are held in your name at the underlying US custodian (DriveWealth / Apex Clearing) — not in Vested's name. SIPC insurance covers up to $500K per account in the US. If the Indian platform shuts down, you can transfer the holdings to another Drivewealth-affiliated broker. The platforms are regulated by SEC (US side) and RBI/FEMA rules apply on the Indian side.
Can I do SIP-like recurring buying?
Yes. Vested, INDmoney, Stockal all support "auto-invest" or recurring orders into specific stocks or ETFs. IBKR has recurring orders via their platform too. Useful for dollar-cost averaging into US ETFs.
What's the cheapest way overall?
IBKR by a wide margin. Their FX spreads are 50× lower than the India-based platforms (~2 bps vs ~100 bps). On a $10,000 conversion that's $2 vs $100. The India-based platforms make it back in user experience and simpler onboarding, which is what most first-timers actually need.