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.
Table of Contents
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 support@paasa.com 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.
