Kristal vs Interactive Brokers vs Paasa

Tool, Infrastructure, or Ecosystem?

For wealthy Indian investors exploring global markets, the options are expanding. But not all platforms are built the same.

In this blog, we compare Kristal, Interactive Brokers (IBKR), and Paasa, the three names that often come up when Indian investors start looking beyond domestic assets. While all three offer access to global markets, they differ significantly in how they work, who they suit, and what they offer beyond execution.

Kristal is a guided investment tool: simple, curated, and advisory-led.
IBKR is a global brokerage infrastructure: powerful and institutional-grade, but complex for individual investors.
Paasa is an end-to-end ecosystem: helping Indian investors not just invest, but also manage compliance, taxes, and more.

Feature Comparison
FEMA Compliance
Tax Reporting
Technology Features
Investor Fit
Client Support

Feature Comparison

Attribute		Kristal	IBKR	Paasa
Direct trading		✅	✅	✅
Real-time execution		❌	✅	✅
Brokerage fee		High	Low	Low
Product Universe	Stocks	✅	✅	✅
	ETFs	✅	✅	✅
	Managed Portfolios	✅	✅	✅
	UCITS portfolios	❌	❌	✅
	AIFs	✅	❌	❌
Auto-rebalanced UCITS portfolios		❌	❌	✅
Interest on uninvested cash		❌	✅	✅
Custody of assets under client's name		✅	✅	✅

Note: UCITS portfolios are preferred by many Indian investors for US estate tax protection and global diversification.

FEMA Compliance

Attribute		Kristal	IBKR	Paasa
Digital remittance under LRS	Self-declaration templates for Indian banks	✅	✅	✅
	Remittance support at low rates	❌	❌	✅
	Bank formalities & Holding Declaration	✅	❌	✅
	Tracking and Confirmation	✅	❌	✅
Compliance queries		❌	❌	✅

Note: FEMA compliance is critical when sending money abroad under LRS. Many Indian investors unknowingly use incorrect purpose codes during remittance which can lead to reporting issues, delays, or tax scrutiny later.

Tax Reporting

Attribute		Kristal	IBKR	Paasa
Tax Analytics	Dividend Tax Tracking	❌	❌	✅
	Capital Gains Tax Calculation (STCG/LTCG)	❌	❌	✅
	Accumulating ETFs	✅	✅	✅
	Tax Loss Harvesting	❌	❌	✅
	Year-End Tax Statement for Indian Investors	✅	✅	✅
UCITS portfolios for tax savings		❌	❌	✅

Note: Global investing comes with added tax responsibilities for Indian investors, and platforms approach this differently. Paasa includes tools designed to support Indian tax reporting.

Technology Features

Attribute	Kristal	IBKR	Paasa
Mobile App & Web View	✅	✅	✅
Market and Limit	✅	✅	✅
Stop loss, Trailing stop loss	✅	✅	✅
Withdraw funds to any bank account	❌	✅	✅
Mutual funds tracking & comparison	❌	❌	✅
XIRR calculation for position	✅	❌	✅
Benchmarking & Backtesting	❌	❌	✅
INR gain/loss computation (blended FX)	❌	❌	✅
Web dashboard for reporting	✅	✅	✅
Trader Workstation (TWS) for advanced traders	❌	✅	❌

Investor Fit

Investor Type	Kristal	IBKR	Paasa
HNIs	Great for individuals seeking curated portfolios	Powerful but requires technical know-how	Offers simplicity with control
Family Offices	Limited flexibility for complex setups	Offers scale but needs internal support	End-to-end setup including remittance and tax
Institutional Investors	❌	Requires external tech and compliance support	Concierge support for regulatory and operational needs

Client Support

Attribute	Kristal	IBKR	Paasa
Dedicated relationship manager	✅	❌	✅
Expert concierge (FEMA, Tax)	❌	❌	✅
Customize features on request	❌	❌	✅

Conclusion

Kristal, IBKR, and Paasa all offer access to global markets. But as an HNI, family office, or institutional investor, what you're really choosing is the kind of experience you want around that access: a tool, an infrastructure, or a complete ecosystem.

The right choice depends on your investing style, comfort with complexity, and long-term needs.

About Paasa

Paasa is a global investing platform built specifically for Indian HNIs, family offices and institutional investors, helping them invest over the US, UK, Europe and China markets with tools that simplify LRS, remittance, tax reporting, and cross-border complexity.

Reach out at [email protected] to learn more.

Disclaimer

This content is for general informational purposes only and should not be taken as financial, legal, or professional advice from Paasa. While we strive for accuracy, the information may change over time. Paasa makes no representations, warranties, or guarantees, whether express or implied, regarding the accuracy, completeness, or reliability of the information provided. The comparison is based on publicly available data and is intended to assist users in making informed decisions. It is not a substitute for professional advice or consultation with financial experts. Please review the terms of use and product availability for your region, or visit the service provider's website for the latest pricing and service information.

Sources

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