Starting 1st Jan, 2020, HDFC Securities got everyone by surprise by introducing www.globalinvesting.in, a no-frills US investing platform, powered by Stockal and a brokerage account with Drivewealth which is complaint with all the US regulators and also SEC registered. No account minimums. You start investing with any amount you wish.
Next, ICICI Securities, is also bringing a global door for us. But, ZERODHA was the first to promise and as usual no word on it. Meanwhile US stocks are hitting new highs day after day.
Yes! I am using Stockal, I wouldn’t say its horrible. It’s nice, efficient and I buy/sell stocks in a plain hassle free manner. Although the bank transfer charges are HEFTY.
Hope Zerodha, brings a low cost version. And a better one too.
Whatever is allowed under Fema laws and liberalised remittance scheme (LRS) for us Indians. LRS allows you 2,50000 usd per year
Basically investment only no speculation…no derivative as of now.
3.Intraday may not fall under investments. They do allow 4 trade.in a week though.
A 40 odd.min video is there on youtube.
All things other than investment in shares and mutual.funds will not.get clarity anytime soon. Try as you may reading interpreting LRS or reach RBI for clarity. So conservative reading of the law will be helpful here
definitely not, I’ve been using stockal from past 3 months and the platform is good. Compared to the other services being offered by banks Stockal is miles ahead.
Hey @adarsh73@itsadam - is there an insurance for my investments done via StockAl? A bit concerned since this foreign investment is relatively a new thing - what if my money gets stuck in the process?
If Stockal goes down, your account will still be safe you will be able to access it and/or move it to another brokerage firm as you please. But you are also insured up-to $500,000 dollars in case of any Mishap.