Why is Zerodha taking so long to offer US investing?

Not possible as it is not allowed under LRS.

This is the reason it is taking time for us to offer.

Hahaha. :rofl:

@siva
Read this in the news, 5% tax on foreign fund transfer from Oct 1. Does it apply to US investing route Zerodha is exploring?

Yes, it will be.

@siva allow me to ask a related question -
how will it impact the mutual funds that invest in US market. E.g. ICICI US Bluechip, Motilal S&P 500, Motilal Nasdaq 100 ETF etc.
If 5% of remit value goes it tax then, will it be added to TER? Does this mean investing in mutual funds that invest in the international market would get lesser returns?

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No impact on these MFs and ETFs

Interesting, can you help me understand why so?

Investing in these funds never came under foreign remittances. They were not subject to RBIs LRS or the USD 250k yearly limit.

Hi Siva, Nithin,

If there was a time for Indian investors to have access to giant tech cos in USA it would be now. When could be the realistic timeframe for the launch of this option to Zerodha customers? Would appreciate a revert and more so a product roll-out. Thanks

Also can it be a possibility wherein you look at having a tie up with select banks who are willing to take this cut on FX margin in view of increased CASA balance trade off. Can this option be looked at?

No ETA yet.

@siva

5paisa have tied up with Vested and are providing zero commission investing in US stocks.

Why can’t zerodha collaborate with someone like Vested?

In the meanwhile, you have access to Nasdaq and S&P 500 mutual funds. You can invest in them on Coin.

@siva Hey Siva, hope you are doing good. So is this still on track? Also you mentioned sometime back that you will be enabling feed for US stocks soon, when is that planned for?

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Will take some more time.

You mean feed or full product? So no end of year, is it?

Hey @siva! I had some questions I wanted to ask, about Zerodha offering US based equity in the future.

  1. Since it’s taking a long time, I’ll go with the current options available. Should zerodha open up US stocks, will I be able to transfer stocks, etc to Zerodha from other platform?

  2. For US stocks, do you plan on supporting fractional shares?

@siva Agree that you guys are working and facing delays on this, but appreciate if you have any ETA on this front.
In case the only issue here is related to optimizing of currency conversion/transfer and rest all things are ready then won’t it be good to roll out current version and parallely work on transfer part.

Yeah, planning in those lines only, this currency thing what we are working on may take more time than anticipated.

Good to hear that @siva . So without that currency thing, how much time do you think the roll out should take. Hoping within this quarter.