4 platforms compared — Vested, INDmoney, Stockal, IBKR
Four platforms that actually work for a resident Indian or non-US NRI buying US stocks. Fees and limits are as published — verify on the issuer site before opening an account.
Head-to-head comparison
| Platform | Min investment | FX markup | Per-trade fee | Fractional shares | Best for |
|---|---|---|---|---|---|
| Vested ↗Indian-built · US clearing via DriveWealth | $1 | ~88–100 bps | $0 most trades | ✓ Yes | First-time US stocks from India |
| INDmoney ↗India wealth dashboard + US stocks | $1 | ~80–100 bps | $0 most trades | ✓ Yes | India + US portfolio in one app |
| Stockal ↗Similar to Vested + research overlay | $1 | ~99 bps | $0–$2.99 depending on plan | ✓ Yes | Curated research stacks |
| Interactive Brokers ↗Global broker · IBKR India / UAE | $0 (Lite) | ~2 bps | $0 Lite / small per-share Pro | ✓ Yes (most stocks) | Active traders · global access |
Ranked on FX markup (biggest hidden cost), trading fees, minimums, and UX for the target audience. Verify current rates on issuer site before opening.
The platforms in detail
Vested
Editor's first pick — resident IndiansWhen it makes sense: You're new to US stocks, want a clean app, don't need advanced order types, and your money flows from an Indian bank account via LRS.
- How it works: Open 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. Small withdrawal fees apply.
- What's good: Cleanest first-timer UX in India. Strong customer support. Pre-built theme baskets (Mag 7, EV, AI). Tax statements generated for Indian filing.
- What's not: FX markup higher than IBKR. Withdrawals can take 5–7 days. No crypto or options.
INDmoney
Best for India + US in one appWhen it makes sense: You already use INDmoney for tracking your Indian portfolio (mutual funds, EPF, FDs) 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 net-worth dashboard. Quick onboarding.
- What's not: US-stocks UX is a sub-feature — 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 and strategies — not just raw stock-picking.
- 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 (IBKR)
Best for advanced / global usersWhen it makes sense: You want institutional-grade FX (50× cheaper 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, IBKR UK, etc.). Bank transfer → trade.
- FX cost: ~2 bps + small commission. 50× cheaper than 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). Strong order types. Margin available.
- What's not: Steep learning curve. Older UX. Customer support is slow.
How to pick
- →New to US stocks, resident Indian → Vested. Cleanest onboarding, best support, tax statements included.
- →Already use INDmoney for Indian portfolio → INDmoney. Marginal FX advantage, keeps everything in one app.
- →Want curated research / theme baskets → Stockal.
- →Serious capital, active trading, or NRI in UAE / UK / SG → IBKR. The FX savings alone justify the learning curve above $20K.