Will Opening an INDmoney US Stock Account Affect My BSDA Status in Zerodha?

Zerodha
1

I currently have a Demat and trading account with Zerodha (Kite) and qualify for a Basic Services Demat Account (BSDA) based on my holdings. I am interested in opening an account with INDmoney to invest in US stocks. However, I have a few concerns:

  1. Will opening an INDmoney account require a new Indian Demat account, or is it only a US brokerage account?
  2. Will investing in US stocks through INDmoney affect my BSDA eligibility in Zerodha in any way?
  3. Does the holding value considered for BSDA status include only Indian stocks, or does it also count US stocks held via INDmoney?
2

@siva @nithin @Meher_Smaran

3
  1. I guess it’s only a US brokerage account. You will have to confirm with them.
  2. If it is only a US brokerage account, then no. You can also open an account at Vested or Stockal. They, for sure, open only a US brokerage account.
  3. What you invest through a US brokerage account has no bearing on the BSDA account.
4

1.yes,the thing is they Provide services for indian market too,So I fear them opening new demat account.
2.Vested is very expensive in terms of Withdrawl charges($5/withdrawal) And also saw some talk and rants about Vested.Ind money has better customer care apparently

Is this Nithin kamath giving ans?Man I am a huge huge fan of you and your work…You have provived us with such a good platform(Zerodha KITE),I saw you in podcasts too (14 YRS AMA)…THANKS FOR EVERYTHING.
also,Will you provide US stock investing in near-future.If not also its fine.
THANKS FOR EVERYTHING

5

:slight_smile: Cheers

We are waiting for regulatory clarity. If we get it, we should be able to offer it soon. A broker registered with SEBI offering products not regulated by them is grey.

7

Ohh good to see that​:ok_hand::ok_hand::ok_hand::grin: