Zerodha and INDmoney now offer US stocks through GIFT City routes. Zerodha opened US investing in beta on Kite in October 2026 at 0.1% brokerage, capped at USD 10 per order. INDmoney has run US stocks since 2019 at 0.25%, capped at USD 25. Zerodha is cheaper per trade once your account is enabled. INDmoney is the proven route, with 10,000+ names, UCITS ETFs and tax filing built in. For Indian delivery, Zerodha charges ₹0 and INDmoney up to ₹20.
How do Zerodha and INDmoney compare for US stocks at a glance?
Here is how Zerodha and INDmoney's US-stock services compare as of October 2026, from their published pricing and help pages.
| Feature | Zerodha | INDmoney |
|---|---|---|
| GIFT City route | India INX Global Access, BSE's GIFT City platform | INDmoney Global (IFSC), an IFSCA Global Access Provider |
| US broker and custody | ViewTrade holds the stocks | Alpaca or DriveWealth, INDmoney is holder of record |
| US stocks since | October 2026, beta on Kite web | 2019 |
| Stocks and ETFs | Up to 2,000 companies and about 1,000 ETFs | 10,000+ stocks and ETFs, plus UCITS ETFs |
| Brokerage per order | 0.1%, capped at USD 10, plus 18% GST | 0.25%, capped at USD 25, plus GST |
| Forex markup on transfers | 0.4% to 1.4% over the RBI rate, set by the bank | 0.5% to 1.2%, charged by the bank |
| Tax reports | Capital gains statement, holding statement, Form 1042-S | Tax centre, Schedule FA pre-filled, free ITR filing |
| Indian delivery brokerage | ₹0 | ₹20 or 0.1% per order, minimum ₹2 |
What is Zerodha, and what is INDmoney?
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.
INDmoney is a Gurugram investing app founded in 2019 by Ashish Kashyap. Indian stocks run through INDstocks Pvt Ltd, a SEBI-registered broker with about 7.19 lakh NSE active clients in September 2026. US stocks run through INDmoney Global (IFSC), an IFSCA-registered Global Access Provider at GIFT City, clearing through Alpaca or DriveWealth.
What does each charge on a US trade?
Zerodha charges less than INDmoney on every US order. Both quote brokerage in dollars before 18% GST, as of October 2026.
| Charge | Zerodha | INDmoney |
|---|---|---|
| Brokerage | 0.1% of trade value, minimum USD 0.01 | 0.25% of trade value |
| Cap per order | USD 10 | USD 25 |
| IFSCA turnover fee | 0.005% of trade value | Not shown on its pricing page |
| Account opening, AMC, custody | ₹0 | ₹0 |
| Order size | Zerodha brokerage | INDmoney brokerage |
|---|---|---|
| USD 500 | USD 0.50 | USD 1.25 |
| USD 2,000 | USD 2.00 | USD 5.00 |
| USD 10,000 | USD 10.00, the cap | USD 25.00, the cap |
Above USD 10,000 both caps hold, so a USD 25,000 order costs USD 10 on Zerodha and USD 25 on INDmoney.
What does it cost to send money and bring it back?
Currency conversion costs more than brokerage when you buy US stocks on Zerodha or INDmoney. 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.
Zerodha's dollar wallet takes net banking transfers from HDFC, ICICI, IDFC FIRST, Axis or Kotak, from USD 50 at first and USD 100 after. The bank adds 0.4% to 1.4% over the RBI reference rate, plus a slab-based conversion fee of up to 0.18%. INDmoney remits in-app through six partner banks at a bank forex charge of 0.5% to 1.2%, shown before you confirm.
| Amount sent | Zerodha, 0.4% to 1.4% | INDmoney, 0.5% to 1.2% |
|---|---|---|
| ₹5 lakh | ₹2,000 to ₹7,000 | ₹2,500 to ₹6,000 |
| ₹10 lakh | ₹4,000 to ₹14,000 | ₹5,000 to ₹12,000 |
| ₹25 lakh | ₹10,000 to ₹35,000 | ₹12,500 to ₹30,000 |
Neither adds its own fee on deposits or withdrawals, though the bank sets the rate when dollars come back.
Which US stocks and ETFs can I buy on each?
INDmoney 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 | Zerodha | INDmoney |
|---|---|---|
| US stocks | Up to 2,000 largest companies by market value | 10,000+ stocks |
| US ETFs | About 1,000, no Bitcoin or leveraged ETFs | Included in the 10,000+ |
| Fractional shares | Yes, by dollar amount | Yes, from USD 1 |
| SIPs in US stocks | Listed as upcoming | Yes |
| UCITS ETFs | No | Yes, London-listed |
UCITS ETFs can cut dividend tax drag, which Paasa's UCITS guide explains.
How safe is my money on each?
US stocks bought through Zerodha or INDmoney sit with a US broker, not in your Indian demat account. Both routes run through GIFT City entities regulated by IFSCA. Zerodha routes orders through India INX Global Access, and ViewTrade holds the stocks. INDmoney's disclosures say INDmoney, not you, is the holder of record at Alpaca or DriveWealth, and you hold a beneficial interest on its books.
If the US broker fails, SIPC protection covers up to USD 500,000 per customer, including USD 250,000 in cash. INDmoney says SIPC applies at the company level under its consolidated account. Neither covers a fall in prices. Indian shares bought through either sit in your own CDSL demat account, with unresolved complaints going to SEBI SCORES.
What do I get at tax time from each?
INDmoney does more of the filing work and Zerodha gives you the statements. 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. INDmoney's tax centre pre-fills Schedule FA, prepares Form 67 data and files your ITR free in the app.
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 INDmoney for keeping the account open. Both show US and Indian holdings in one app.
| Charge | Zerodha | INDmoney |
|---|---|---|
| Equity delivery | ₹0 | ₹20 or 0.1% per order, minimum ₹2 |
| Intraday and futures | ₹20 or 0.03% per order | ₹20 or 0.1% intraday, ₹20 per futures order |
| Options | ₹20 per order | ₹20 per order |
| AMC | Free in year one, then SEBI BSDA slabs up to ₹300 plus GST | ₹0 |
| DP charge per sell | ₹15.34 per scrip | ₹18.50 plus GST per ISIN per day |
| Platforms | Kite, Console, Coin, Kite Connect API | INDmoney app and web, no API |
When is Zerodha the better choice for US stocks?
Zerodha may suit you better than INDmoney if:
- You place larger US orders, since brokerage caps at USD 10 against USD 25.
- You want US and Indian holdings in one Kite login.
- You bank with one of Zerodha's five partner banks and can wait for beta access.
When is INDmoney the better choice for US stocks?
INDmoney may suit you better than Zerodha if:
- You want US access today, on a route open since 2019.
- You want 10,000+ US names, SIPs in US stocks, or UCITS ETFs.
- You want Schedule FA pre-filled and your ITR filed in the app.
Should I choose Zerodha or INDmoney for US stocks?
Choose Zerodha for lower cost per US trade once the segment is enabled on your account. Choose INDmoney for breadth, SIPs and tax filing on a route already open to everyone.
| If you want… | Better fit |
|---|---|
| Lower brokerage per US order | Zerodha |
| US and Indian stocks in one Kite account | Zerodha |
| The widest US stock and ETF choice | INDmoney |
| UCITS ETFs alongside US stocks | INDmoney |
| Schedule FA pre-filled and free ITR filing | INDmoney |
| A US account open to new users today | INDmoney |
Switching later is harder than with Indian shares. US holdings cannot move between Zerodha and INDmoney 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 Zerodha's and INDmoney's published pricing as of October 2026 and may change. Zerodha's US service was in beta at the time of writing. 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.
