Groww and Zerodha, India's two largest brokers, opened US stocks through GIFT City in September and October 2026. Groww charges 0.1% with a USD 1 minimum per order and no cap, open to all users since 23 October 2026. Zerodha charges 0.1% with a USD 10 cap, in beta on Kite. Groww wins on choice and availability, Zerodha on cost for small or large orders and on tax paperwork. For Indian delivery, Zerodha charges ₹0 and Groww up to ₹20.
How do Groww and Zerodha compare for US stocks at a glance?
Here is how Groww and Zerodha's US-stock services compare as of October 2026, from their published pricing and help pages.
| Feature | Groww | Zerodha |
|---|---|---|
| GIFT City route | Own IFSCA Global Access Provider approval | India INX Global Access, BSE's GIFT City platform |
| US broker and custody | Alpaca Securities | ViewTrade holds the stocks |
| Availability | All users since 23 October 2026 | Beta on Kite web, October 2026 |
| Stocks and ETFs | 10,000+ | Up to 2,000 companies and about 1,000 ETFs |
| Brokerage per order | 0.1%, minimum USD 1, no cap, plus 18% GST | 0.1%, capped at USD 10, plus 18% GST |
| Forex markup on transfers | Your bank's rate, no range published | 0.4% to 1.4% over the RBI rate, set by the bank |
| Tax reports | Form 1042-S from the US broker | Capital gains statement, holding statement, Form 1042-S |
| Indian delivery brokerage | ₹20 or 0.1% per order, minimum ₹5 | ₹0 |
What is Groww, and what is Zerodha?
Groww is a Bengaluru investing app founded in 2016, run by SEBI-registered Groww Invest Tech Pvt Ltd. It was India's largest broker in September 2026, with about 1.34 crore NSE active clients. Groww closed an earlier US-stock service in 2024 and relaunched in September 2026 under its IFSCA approval at GIFT City, with Alpaca as US broker.
Zerodha is a Bengaluru broker founded in 2010, run by SEBI-registered Zerodha Broking Ltd, with 67.92 lakh NSE active clients in September 2026. Its US-stock service runs inside Kite through India INX Global Access at GIFT City, with ViewTrade as the US broker. It was in beta in October 2026.
What does each charge on a US trade?
Groww and Zerodha both charge 0.1% brokerage, so the minimum and the cap decide who is cheaper. Figures are in dollars before 18% GST, as of October 2026.
| Charge | Groww | Zerodha |
|---|---|---|
| Brokerage | 0.1% of trade value | 0.1% of trade value |
| Minimum per order | USD 1 | USD 0.01 |
| Cap per order | None | USD 10 |
| Other fees | SEC, FINRA and CAT fees passed through | IFSCA turnover fee 0.005%, SEC fee 0.00206% on sells |
| Order size | Groww brokerage | Zerodha brokerage |
|---|---|---|
| USD 500 | USD 1.00, the minimum | USD 0.50 |
| USD 2,000 | USD 2.00 | USD 2.00 |
| USD 10,000 | USD 10.00 | USD 10.00, the cap |
| USD 25,000 | USD 25.00 | USD 10.00 |
Between USD 1,000 and USD 10,000 the two cost the same. Below that Groww's minimum bites, above it Zerodha's cap does.
What does it cost to send money and bring it back?
Currency conversion, not brokerage, is the main cost of buying US stocks on Groww or Zerodha. Money goes out under the RBI's Liberalised Remittance Scheme, up to USD 250,000 a financial year, which Paasa's LRS guide explains. TCS is nil on the first ₹10 lakh remitted in a year and 20% above that, adjustable in your return, as Paasa's TCS guide covers.
Groww takes net banking remittances from up to three linked banks that allow outward remittance, with guides for HDFC, Kotak and Axis. It converts at your bank's rate with no charge of its own. Zerodha's dollar wallet takes transfers from HDFC, ICICI, IDFC FIRST, Axis or Kotak, from USD 50 at first and USD 100 after. Its banks add 0.4% to 1.4% over the RBI reference rate, plus a slab-based conversion fee of up to 0.18%.
| Amount sent | Groww, at an assumed 1% bank markup | Zerodha, 0.4% to 1.4% |
|---|---|---|
| ₹5 lakh | About ₹5,000 | ₹2,000 to ₹7,000 |
| ₹10 lakh | About ₹10,000 | ₹4,000 to ₹14,000 |
| ₹25 lakh | About ₹25,000 | ₹10,000 to ₹35,000 |
Groww publishes no markup range, so its column is an illustration at 1%. Neither broker adds its own fee on deposits or withdrawals, and the bank sets the rate when dollars come back.
Which US stocks and ETFs can I buy on each?
Groww lists more than three times as many US names as Zerodha. Zerodha allows delivery orders only, with no intraday, margin or US IPOs.
| What you can buy | Groww | Zerodha |
|---|---|---|
| US stocks | 10,000+ on NYSE and Nasdaq | Up to 2,000 largest companies by market value |
| US ETFs | Included, with S&P 500 and Nasdaq 100 index ETFs | About 1,000, no Bitcoin or leveraged ETFs |
| Fractional shares | Yes, from USD 1 | Yes, by dollar amount |
| SIPs in US stocks | Not listed | Listed as upcoming |
How safe is my money on each?
US stocks bought through Groww or Zerodha sit with a US broker, not in your Indian demat account. Both run under IFSCA rules at GIFT City. Groww's holdings sit with Alpaca Securities, a US broker-dealer. Zerodha routes orders through India INX Global Access, and ViewTrade holds the stocks.
Both point to SIPC protection of up to USD 500,000 per customer, including USD 250,000 in cash, if the US broker fails. Neither covers a fall in prices. Indian shares sit in your own demat account at CDSL or NSDL at both, with unresolved complaints going to SEBI SCORES.
What do I get at tax time from each?
Zerodha spells out its US statements and Groww so far does not. Zerodha's Console issues a capital gains statement, an annual holding statement with 31 December values for Schedule FA, and Form 1042-S for US dividend tax. Groww credits dividends net of US withholding and points to the US broker's Form 1042-S, with reports and tax filing grouped in its US help centre.
The rules are the same on both. Gains on US shares held over 24 months are taxed at 12.5%, shorter holdings at your slab rate. The US withholds 25% on dividends once your W-8BEN is on file, and you claim it back in India through Form 67. Paasa's Schedule FA guide and foreign stock tax guide walk through each step.
How does the Indian stock side compare?
Zerodha is cheaper for Indian delivery trades and Groww for keeping the account open. Both show US and Indian holdings in one app.
| Charge | Groww | Zerodha |
|---|---|---|
| Equity delivery | ₹20 or 0.1% per order, minimum ₹5 | ₹0 |
| Intraday and futures | ₹20 or 0.1% intraday, ₹20 per futures order | ₹20 or 0.03% per order |
| Options | ₹20 per order | ₹20 per order |
| AMC | ₹0 | Free in year one, then SEBI BSDA slabs up to ₹300 plus GST |
| DP charge per sell | ₹16.50 plus ₹3.50 depository fee, plus GST | ₹15.34 per scrip |
| Platforms | Groww app and web, Trade API ₹499 a month | Kite, Console, Coin, Kite Connect API |
When is Groww the better choice for US stocks?
Groww may suit you better than Zerodha if:
- You want US access today, with 10,000+ stocks and ETFs.
- You already hold mutual funds and Indian stocks on Groww.
- You want no AMC on the Indian side as well.
When is Zerodha the better choice for US stocks?
Zerodha may suit you better than Groww if:
- You place orders above USD 10,000, where the USD 10 cap saves money.
- You want a published forex range and statements built for Schedule FA.
- You already use Kite and Console and can wait for beta access.
Should I choose Groww or Zerodha for US stocks?
Choose Groww for breadth and immediate access. Choose Zerodha for lower cost on large orders and clearer paperwork, once the beta reaches you.
| If you want… | Better fit |
|---|---|
| A US account open to new users today | Groww |
| The widest US stock and ETF choice | Groww |
| Funds, Indian and US stocks in one app | Groww |
| Orders above USD 10,000 | Zerodha |
| A published forex markup range | Zerodha |
| Schedule FA statements ready-made | Zerodha |
Switching later is harder than with Indian shares. US holdings cannot move between Groww and Zerodha by a CDSL off-market transfer. Selling to switch is a taxable event, so ask both about an in-kind transfer first, as Paasa's transfer guide explains. Many investors keep both and route new money by order size.
Disclosures
Fees are from Groww's and Zerodha's published pricing as of October 2026 and may change. Zerodha's US service was in beta at the time of writing, and Groww publishes no forex markup. Advisory services under the Paasa brand are offered by Arc Spire Advisory Private Limited, a SEBI Registered Non-Individual Investment Adviser, INA000021058. This article is not investment advice. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
