Global Investing

[Sarvesh_Goenka]

Yes I also activated it and it took few seconds. @siva By when can we start?

[tejanmehndiratta]

I can’t see the International section in MarketWatch.

@siva

[siva]

@Chetan_Nahata

have plans to expand into UCITS & International Markets beyond the US?

UCITS yes, no immediate plans outside US listings as of now.

[Chetan_Nahata]

As much as I want to try it will have to pass for the time being due to SBI not being one of the bank from which I can transfer with Andy plans for it @siva

[vijay_kumar5]

If I open a US brokerage account but don’t transfer even a single rupee or make any trades for two years, will I still need to file Schedule FA in my ITR?

By the way, I have never filed an ITR before because my income from the stock market is very low, as I am only a part-time trader.

[BB789]

@vijay_kumar5

If I open a US brokerage account but don’t transfer even a single rupee or make any trades for two years, will I still need to file Schedule FA in my ITR?

Yes. Non disclosure of beneficiary/custodial accounts in Schedule FA has strict flat penalty of 10L/year. There is however a safe harbour provision of 10L of movable assets(5L earlier) I think. Within this limit, prosecution is currently not initiated, even though you should have disclosed.

if it is more than that and if(and that’s a big if) questioned and taken to court, you might still have luck at ITAT level if there was no intention to hide assets, but not guaranteed.

@Quicko can clarify.

[vijay_kumar5]

Suppose I buy Apple stock and, one hour later, I find out that some bad news is likely to affect its price. Can I sell the stock on the same day?

[Sarvesh_Goenka]

Are inverse etfs available??

[Sarvesh_Goenka]

LRS cannot be used for:

• Margin trading or leveraged investing in foreign markets.

They are saying this so how does tickertape offer it with the same viewtrade as a partner?? @siva

[BB789]

@Sarvesh_Goenka

LRS cannot be used for:

• Margin trading or leveraged investing in foreign markets.

They are saying this so how does tickertape offer it with the same viewtrade as a partner??

You maybe interested in this discussion:

Single Stock ETF! (Leveraged ETFs)

Unfortunately this is probably against RBI FEMA.

[BB789]

@GalacticX

This is reminiscent of the MTF launch, when the CEO appeared firmly opposed to introducing the product on Zerodha’s platform and spent nearly a year publicly arguing against it. However, once MTF became widely available across competing platforms and its commercial potential became evident, Zerodha eventually introduced it as well, seemingly setting aside its earlier philosophical objections.

See:

@nithin

@BB789

PS: Personally, I believe Zerodha compromised on many values, latest being when they implemented MTF, and may continue to do so. Again, may be the right decision or may not be.

I don’t think offering MTF is compromising values. We offer buying options, which are exponentially more dangerous.

Our value, as you can call it, is that whatever you can trade on, you should be able to do it at Zerodha at reasonable rates. And generally, our vision, in a way, is: don’t do to others what you don’t want done to you. So we never push MTF or use dark patterns to induce greed and make you click on MTF order, etc.

[Chetan_Nahata]

@Sarvesh_Goenka it’s upto interpretation Z follows a rather stricter Interpretation uptill now where as Global Brokers follow a bit of linient version

Here is a summary o the same query i raised with IndMoney as there partner was Alpaca and they allowed it all,

They said - LRS restricts User in Leveraged Investing or Margin Trading, however, ETFs by Structure are not Leveraged Instrument nor are they traded on margin by the User, If the ETF then invests/trades in Leveraged products it’s beyond our (IndMoney / Alpaca) control, the user is advised for his/her own discretion.

Which is why they allow Leveraged ETFs & Inverse ETFs, however no direct Crypto ETFs like IBIT, However you can buy BITA (66% in Bitcoin).

[Vinodh]

@siva

no immediate plans outside US listings as of now.

More international exchanges soon?

[vijay_kumar5]

I have local bank account. I want to open kotak 118 bank account online, will it support to transfer funds in usd account
@BB789 @siva

[Himan_Kr]

Where can I find the list of ETFs and stocks which are available on Beta variant?

[Himan_Kr]

Do we have option to invest in QLD or TQQQ ?

Can someone give me the list of ETFS available right now on beta?

[hatim_bearingwala]

@siva hello, any idea when SBI will be added for US investing. Is it going to happen soon ? I have been waiting for you guys to bring in US investing for almost a year. Or should i just open a digital account. Ps. I don’t want to.

[BB789]

If Zerodha provided a unique account number to transfer funds, it can also be done with SBI. if they don’t have it publicly or in your account section, you can probably raise a support ticket to get them to give you the details

[hatim_bearingwala]

sorry not able to understand. also having error after activating US investing not able to find international tab in search. i think it is still under process. Also giving wierd error of international investing is for residential indians only. even when enabling that from india. i guess glitches.

[alwaysshri]

Aren’t you guys jumping the gun? Why not wait for the official announcement?