For wealthy Indian investors looking beyond domestic markets, two names often come up: Kristal.ai and Interactive Brokers.
Kristal is built for mass-affulent and HNIs who want curated global portfolios and advisory hand-holding, while Interactive Brokers (IBKR) is a direct brokerage platform trusted by institutions and serious DIY investors.
Both are good but for different reasons. This blog breaks them down side by side, so you can choose the one that fits your wealth strategy, risk appetite, and level of involvement.
Table of Contents
Platform Overview
Attribute | Kristal | IBKR |
Clients | Mass-affluent, HNIs, Family Offices | Everyone from retail to institutional investors |
Advisory Style | Robo-Advisory | Self-directed and Advisor-led |
Platform Model | Advisor & Aggregator | Direct global broker (end-to-end infrastructure) |
Market Coverage | Access to 100+ exchanges from India | Access to 160+ markets across 36 countries from India |
Note: Kristal.ai does not operate as a direct broker. It is built on top of brokerage partnerships with Interactive Brokers and Saxo Capital Markets, acting as an advisory and aggregation layer for execution.
Want to see how Paasa compares to both? Check Paasa vs Kristal vs IBKR
Feature Comparison
Attribute | Kristal | IBKR | |
Direct trading | ✅ | ✅ | |
Real-time execution | ❌ | ✅ | |
Brokerage fee | High | Low | |
Product Universe | Stocks | ✅ | ✅ |
ETFs | ✅ | ✅ | |
Managed Portfolios | ✅ | ✅ | |
UCITS ETFs | ❌ | ✅ | |
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.
See how Paasa offers UCITS access compared to others.
FEMA Compliance
Attribute | Kristal | IBKR | |
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.
Explore how Paasa supports full LRS and FEMA compliance compared to Kristal and IBKR.
Tax Reporting
Attribute | Kristal | IBKR | |
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.
Compare how Paasa handles tax compliance vs Kristal and IBKR.
Technology Features
Attribute | Kristal | IBKR | |
Mobile App & Web View | ✅ | ✅ | |
Market and Limit | ✅ | ✅ | |
Stop loss, Trailing stop loss | ✅ | ✅ | |
Withdraw funds to any bank account | ❌ | ✅ | |
Real-time execution | ❌ | ✅ | |
Mutual funds tracking | ❌ | ❌ | |
XIRR calculation for position | ✅ | ❌ | |
Benchmarking & Backtesting | ❌ | ❌ | |
INR gain/loss computation (blended FX) | ❌ | ❌ | |
Web dashboard for reporting | ✅ | ✅ | |
Trader Workstation (TWS) for advanced traders | ❌ | ✅ | |
Note: Kristal is known for ease of use, while IBKR is praised for depth but also criticized for complexity.
See how Paasa balances usability with infrastructure
Client Support
Attribute | Kristal | IBKR |
Dedicated relationship manager | ✅ | ❌ |
Expert concierge (FEMA, Tax) | ❌ | ❌ |
Customize features on request | ❌ | ❌ |
Conclusion
Both Kristal.ai and Interactive Brokers offer distinct value to Indian investors exploring global markets. Kristal leans toward simplicity and guided investing, while IBKR prioritizes control, depth, and execution flexibility.
The right choice depends on your investing style, comfort with complexity, and long-term needs.
Explore a side-by-side comparison of Paasa, Kristal, and IBKR.
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.
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.
