Paasa is a global investing platform for Indian residents and NRIs, with shares held in your own name and the LRS, FX and tax paperwork handled for you. Zerodha's US stocks arrived in beta on Kite in October 2026, routed through GIFT City with holdings at a US partner broker. Choose Paasa to own your shares directly, invest across global markets and have the paperwork handled. Choose Zerodha to add a few US names beside your Kite account.
How do Paasa and Zerodha compare for US stocks at a glance?
The table compares Paasa and Zerodha as of October 2026, from Paasa's pricing page and Zerodha's help pages.
| Feature | Paasa | Zerodha |
|---|---|---|
| What it is | Global investing platform built on an IBKR account | Indian broker. US stocks in beta inside Kite via GIFT City |
| Who holds your shares | Interactive Brokers LLC, in an account in your own name | ViewTrade, Zerodha's US partner broker |
| Investor protection | SIPC up to $500,000 plus Lloyd's excess up to $30 million, on your own account | SIPC up to $500,000 per customer, per Zerodha's guide |
| Markets | 10 markets, each in its home currency | US stocks and ETFs only |
| What you can buy | 15,000+ tickers, UCITS ETFs, SIPs | About 2,000 US companies and 1,000 ETFs, SIPs upcoming |
| Availability | Open now | Beta on Kite web, October 2026 |
| Brokerage | 0.10% plus $0.15 per order, min $0.50, max $50. No monthly fee | A percentage of trade value with a per-order cap, plus GST and an IFSCA fee |
| Currency conversion | Partner-bank preferred rates, 0.03% at mid-market in-account | Your bank's markup plus a conversion fee |
| Tax reports | Schedule CG, FA, OS/FSI, Form 67, ITR-2 checklist, Form 1042-S | Capital gains statement, holding statement, Form 1042-S |
| Advice and support | SEBI-registered advice and a relationship manager on Apex | Self-directed |
What is Paasa, and what is Zerodha?
Paasa is a global investing platform for Indian investors, built on Interactive Brokers. A Paasa account is an IBKR account opened in the investor's own name. Paasa adds Indian onboarding, LRS and FX support, INR tax reports and SEBI-registered advice.
Zerodha is India's second-largest broker by NSE active clients, built around Kite. In October 2026 it opened US stock investing in beta on Kite web, routed through India INX Global Access at GIFT City under IFSCA rules. ViewTrade holds the stocks in the US, and only resident individuals can enable it.
Who holds my shares on Paasa and on Zerodha?
On Paasa, Interactive Brokers LLC holds your shares in an account in your own name. On Zerodha, your US stocks sit with ViewTrade, its US partner broker, outside your Indian demat account. Zerodha's guide does not say whether that account is in your name.
A Paasa account carries SIPC protection up to $500,000, including $250,000 for cash, plus Lloyd's excess cover of up to $30 million. If Paasa ever shut down, the assets would stay at IBKR in your name. See how your money is held and protected with Paasa. Zerodha's guide points to SIPC cover of up to $500,000 if its US partner fails.
What does each cost on a US trade?
Zerodha's per-order brokerage is low and capped, and on a plain US buy it can undercut Paasa. Paasa's figures are from its pricing page, October 2026.
Paasa's Access plan has no monthly fee. US brokerage is 0.10% of trade value plus $0.15 per order, with a $0.50 minimum and a $50 maximum. A $2,000 order costs $2.15 and a $10,000 order $10.15. In-account currency conversion costs 0.03%, minimum $2, at the mid-market rate. Apex adds advice for 1% a year plus GST from $50,000, 0.7% from $100,000 and 0.5% from $500,000.
Zerodha charges a percentage of trade value with a cap per order, plus GST and an IFSCA turnover fee. The bigger cost on both is currency conversion, and that is where the two part ways. Compare your typical ticket with Paasa's brokerage calculator and the all-in cost comparison.
How do I send money from India to Paasa or Zerodha?
Both are funded with an LRS remittance from an Indian bank. The RBI lets each resident individual remit up to USD 250,000 per financial year (RBI). Tax Collected at Source (TCS) applies at 20% on investment remittances above ₹10 lakh in a financial year (Income Tax Department TCS rates). TCS is not a fee. It is adjusted or refunded when you file your return.
With Paasa, partner banks HDFC, ICICI, Axis and Kotak offer preferred FX rates. Paasa pre-fills Form A2 and Forms 15CA/CB and earns nothing on FX. Withdrawals go out in any currency to any account in your name. With Zerodha, you move money by net banking into a dollar wallet at your bank's markup plus a conversion fee, and withdrawals return to your registered Indian account. Paasa's LRS guide and TCS guide cover the steps.
Which markets and products can I buy on each?
Paasa reaches 10 markets and Zerodha the US only. Paasa's app and web dashboard cover 15,000+ tickers across the US, UK, Switzerland, Germany, France, Netherlands, Hong Kong, Japan, Canada and Singapore, each in its home currency. It adds UCITS ETFs in whole units or fractions, SIPs from the Paasa wallet, and market, limit, stop and trailing-stop orders.
Zerodha's US segment covers about 2,000 US companies and 1,000 ETFs, with fractional buying by dollar amount. Orders are market or limit, delivery only, with SIPs listed as upcoming. There are no UCITS ETFs or non-US markets.
What do I get at tax time from Paasa and from Zerodha?
Both send Indian tax paperwork, and Paasa's is the fuller set. Each financial year, Paasa provides Schedule CG, FA and OS/FSI, Form 67, an ITR-2 checklist and Form 1042-S, with every value converted to INR. Paasa's capital gains guide, Schedule FA guide and Paasa Tax cover the details.
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. The Indian 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 with a W-8BEN on file, claimable through Form 67.
What is day-to-day use like on Paasa and on Zerodha?
Paasa is built around one global account with human support, and Zerodha around Kite. On Paasa, uninvested USD above $10,000 earns interest, up to 3.38% a year as of October 2026. Paasa's team answers by email and WhatsApp on weekdays, and Apex clients get a relationship manager.
On Zerodha, US stocks sit inside Kite web during the beta, with orders placed anytime and filled during US hours. Holdings show beside your Indian positions, with support through Zerodha's ticket portal and weekday phone lines.
When is Zerodha the better choice?
Zerodha may suit you better than Paasa if:
- You trade on Kite and want a few US names beside your Indian holdings.
- You place small, occasional US orders where a capped per-order fee matters most.
- You want US and Indian stocks under one login and can wait for the beta.
Should I choose Paasa or Zerodha?
Choose Paasa to hold shares in your own name, reach markets beyond the US, and have the LRS, FX and tax paperwork handled. Choose Zerodha for a light US add-on to an existing Kite account.
| If you want… | Better fit |
|---|---|
| Shares held in an account in your own name | Paasa |
| UK, European, Hong Kong or Japanese stocks in their home currency | Paasa |
| UCITS ETFs beside US stocks | Paasa |
| Advice and a relationship manager from $50,000 | Paasa (Apex) |
| A few US stocks inside your existing Kite account | Zerodha |
| Small, occasional US orders at a capped fee | Zerodha |
Already on Zerodha? Paasa accepts in-kind ACATS transfers of US stocks and ETFs where the sending broker supports them, with purchase dates and prices preserved. Ask Zerodha whether its US partner can send holdings out, since selling to move is a taxable event, as Paasa's transfer guide explains. Many investors keep Kite for Indian stocks and Paasa for everything global.
How does Paasa help investors coming from Zerodha?
- Paasa opens the IBKR account in your own name, with SIPC and Lloyd's excess protection.
- Paasa adds nine markets beyond the US, each in its home currency, plus UCITS ETFs.
- Paasa's tax pack covers Schedule CG, FA and OS/FSI, Form 67 and an ITR-2 checklist.
Disclosures
Advisory services are offered by Arc Spire Advisory Private Limited, a SEBI Registered Non-Individual Investment Adviser, INA000021058. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. This article is not tax advice. Consult a qualified tax adviser for your situation.
