# Best Brokers for International Investing from India: Who Really Holds Your Shares? Author: Savitri Bobde Author URL: https://getbelong.com/blog/author/savitri-bobde/ Published: 2026-10-29 Category: Personal Finance Category URL: https://getbelong.com/blog/category/personal-finance/ Meta Title: Best Brokers for International Investing from India Meta Description: Compare the best brokers for international investing from India. LRS rules, custody, GIFT City options, tax reporting and NRI choices. Tags: NRI Investment, Stocks Tag URLs: NRI Investment (https://getbelong.com/blog/tag/nri-investment/), Stocks (https://getbelong.com/blog/tag/stocks/) URL: https://getbelong.com/blog/brokers-for-international-investing/ Every rupee you invest abroad from India moves under one rule. The RBI's Liberalised Remittance Scheme, or LRS. LRS lets resident individuals send money overseas within an annual limit. As per [RBI's LRS FAQs](https://www.rbi.org.in/commonman/english/Scripts/FAQs.aspx?Id=1834), it also bans remittances for margin trading on overseas exchanges. That one regulation shapes which brokers you can use and what you can do with them. At [Belong](https://getbelong.com/), we help Indian investors set up global portfolios, and we see the same confusion often. This guide compares the best brokers for international investing from India. It also answers the question most lists skip: who actually holds your shares? ## Our Top List Rank Platform Best for 1 INDmoney Fractional US stocks and SIPs with a GIFT City setup 2 Vested Simple, cash-only US investing with no minimum from Vested 3 ICICI Direct Global Investing Multiple global markets through a bank-backed broker 4 HDFC Securities Global Investing HDFC customers who want US stocks in a familiar setup 5 NSE IFSC Receipts Trading select US stocks on a GIFT City exchange 6 GIFT City mutual funds Diversified global exposure without picking stocks We ranked these on regulatory clarity, custody transparency, product range and ease of use. We also weighed how well each fits a long-term investor rather than a trader. **Tip:** Before you compare fees, find out which company holds your shares. Your Indian app is often just the front door. ## Understand the Structure First: Two Companies, Not One Most international investing apps in India are not US brokers themselves. They partner with an overseas broker or custodian that actually holds your shares. Think of it like a travel booking app. You book through the app, but the airline flies the plane. This matters for three reasons. It decides who protects your assets, where you raise complaints and how easily you can move your holdings later. Platform Front-end Who executes or holds the shares INDmoney INDmoney app DriveWealth and Alpaca Securities Vested Vested app DriveWealth as broker partner HDFC Securities HDFC Securities VF Securities, powered by Vested ICICI Direct ICICI Securities Interactive Brokers LLC NSE IFSC Receipts Your GIFT City broker Held in GIFT City through an international depository Each partner named above comes from the platform's own website. Always read the account agreement before you fund your account. ## The Brokers, Compared ### 1\. INDmoney INDmoney offers US stocks and ETFs with fractional investing and recurring SIPs. **How it works:** Its [US stocks page](https://www.indmoney.com/us-stocks) names DriveWealth and Alpaca Securities as US clearing brokers. It describes the US stocks business as regulated by IFSCA in GIFT City. **What stands out:** You can buy fractions of a share and set up weekly or monthly SIPs in US stocks. The page states that SIPs need a Federal savings account inside the INDmoney app. **Who it suits:** Resident Indians who want small, regular investments in US markets. **How it compares:** INDmoney has more automation than Vested. Its two-partner structure is also slightly more complex to understand. ### 2\. Vested Vested is a focused US investing platform for Indian residents. **How it works:** Vested's [support page](https://support.vestedfinance.com/portal/en/kb/vested-us-stocks/about-us-stocks/us-investing-on-vested) names DriveWealth as its broker partner. It offers only a cash account, not a margin account. That is deliberate. The page states margin trading and derivatives are not allowed under RBI and FEMA rules. Margin means borrowing to invest, which we explain in our note on [margin](https://getbelong.com/blog/margin-meaning/). **What stands out:** Vested does not set its own minimum, though your bank may. Fractional shares are supported. **Who it suits:** Long-term investors who want a clean, cash-only US account. **How it compares:** Simpler than INDmoney, with fewer extra features. It also powers HDFC Securities' global offering. ### 3\. ICICI Direct Global Investing ICICI Direct offers the widest market access of the Indian platforms here. **How it works:** Its [global investment page](https://icicidirect.com/global-investment-services) names Interactive Brokers LLC as executing broker, clearing broker and custodian. ICICI Securities acts as the introducing broker. **What stands out:** You can invest in six markets, including the US, UK, Germany, Japan, Singapore and Hong Kong. Curated portfolios from global fund managers are also available. The page also states two limits. US IPOs are not supported for Indian residents, and margin trading is not permitted. **Who it suits:** Existing ICICI Direct customers who want more than just US markets. The page says the facility is open to residents, corporates and NRIs. **How it compares:** Broader market access than INDmoney or Vested. Onboarding needs an existing ICICI Direct account. ### 4\. HDFC Securities Global Investing HDFC Securities offers US investing for its customers through a partner. **How it works:** Its [global investing page](https://www.hdfcsec.com/globalinvesting) states the service is powered by Vested, with securities offered through VF Securities. Older accounts opened through Stockal are directed to that platform instead. **What stands out:** US stocks and ETFs, fractional investing and themed baskets. **Who it suits:** HDFC customers who prefer a familiar brand for their first global account. **How it compares:** The experience is similar to Vested's, inside the HDFC relationship. Older Stockal users should check which platform holds their account. **Tip:** If you have used more than one global platform, list them all. Forgotten foreign accounts are a common reason for incomplete tax disclosure. ### 5\. NSE IFSC Receipts in GIFT City This route lets you trade receipts linked to select US stocks on an exchange in GIFT City. **How it works:** As per [NSE's page on NSE IFSC US stocks](https://www.nseindia.com/static/resources/nse_ifsc_us_stocks), these are unsponsored depository receipts. Trading, settlement and demat holding happen within GIFT IFSC. The same page describes this as a route for Indian retail investors using LRS. It is a reproduced 2022 article, so check the current list of stocks and brokers. **Who it suits:** Investors who prefer exchange-traded access within India's own international financial centre. **How it compares:** The stock list is narrower than INDmoney or ICICI Direct. The custody sits in GIFT City rather than overseas. Our guide on [NSE IFSC features and benefits](https://getbelong.com/blog/nse-ifsc-features-and-benefits/) explains more. ### 6\. GIFT City Mutual Funds This is not a broker. It is an alternative many investors should consider before opening a foreign brokerage account. GIFT City mutual funds are USD-denominated funds regulated by IFSCA. A professional manager picks the stocks, so you do not need to. **Who it suits:** Investors who want global exposure but not the work of choosing individual US stocks. **How it compares:** Less control than a broker, but much less monitoring and paperwork. We compare both in our guide on [GIFT City vs US brokerage accounts](https://getbelong.com/blog/mutual-funds/gift-city-vs-us-brokerage/). You can browse options on our [GIFT City mutual funds tool](https://getbelong.com/tools/gift-city-mutual-funds/). Funds often reviewed include the [DSP Global Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/dsp-global-equity-fund/) and the [Edelweiss Greater China Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/edelweiss-greater-china-equity-fund/). ## A Common Pattern We See Here is a story we hear often from resident investors. You open a US account, buy a few large tech stocks and watch them grow. Two years later, you file your tax return using the same form as always. Nobody told you that your foreign shares needed separate disclosure. Your return is now incomplete. The Income Tax Department's [note on foreign asset transparency](https://www.incometax.gov.in/iec/foportal/sites/default/files/2024-11/Enhancing%20Tax%20Transparency%20on%20Foreign%20Assets%20and%20Income.pdf) states residents must report foreign assets in Schedule FA. Non-disclosure can attract penalties and prosecution under the Black Money Act. The same note says ITR-1 and ITR-4 cannot be used by taxpayers with foreign assets, because they lack Schedule FA. It also explains that a revised return can correct omissions. What happens if this is ignored? A small portfolio can become a large compliance problem. Our guide on [reporting foreign assets in tax filing](https://getbelong.com/blog/report-foreign-assets-in-nri-tax-filing/) explains the steps. Our [tax filing service](https://getbelong.com/services/tax-filing/) can help you get it right. ## What Every Resident Investor Should Know About LRS ### LRS is a limit, not a product LRS sets how much you can send abroad in a financial year. The RBI FAQs state the limit covers all permitted remittances combined, not just investments. So foreign travel, education fees and gifts abroad all draw from the same annual limit. Plan your investments alongside your other foreign spending. ### PAN is mandatory The RBI FAQs state a PAN is mandatory for LRS transactions through authorised dealers. ### Some things are simply not allowed As per the RBI FAQs, LRS does not permit margin calls abroad or trading in foreign exchange. That is why the brokers above offer cash accounts only. ### There is a cost on the way out Banks apply tax collected at source (TCS) on certain LRS remittances above a threshold. Rates and thresholds change with budgets, so check your bank and the [Income Tax portal](https://www.incometax.gov.in/iec/foportal/ais-faq) before each remittance. Our guide on [sending money abroad for investments](https://getbelong.com/blog/global-investment/send-money-abroad-for-investments/) walks through the process. ## Decision Guide: Which Route Fits You? If your goal is Consider Avoid Small, regular US investing INDmoney or Vested Large one-time remittances you cannot track Access to markets beyond the US ICICI Direct Global Investing Platforms that cover only US stocks Staying with a familiar bank brand ICICI Direct or HDFC Securities Switching only for a small fee difference Exchange access within India's IFSC NSE IFSC Receipts Assuming every US stock is listed Diversification without stock picking GIFT City mutual funds Concentrating in a handful of tech stocks Our guide on [direct vs indirect global investing options](https://getbelong.com/blog/global-investment/direct-vs-indirect-options/) goes deeper into this choice. **Tip:** If you are new to global investing, start with a fund or an ETF, not single stocks. Our guide on [ETFs vs mutual funds](https://getbelong.com/blog/global-investment/etf-vs-mutual-fund/) explains the difference. ## The Concentration Trap Many first-time global investors buy the same five US tech names. It feels like diversification because the companies are foreign. It is not. You have swapped one concentration for another. Your [equity](https://getbelong.com/blog/equity-meaning/) exposure should spread across sectors and regions. Our piece on [FAANG stocks vs diversified funds](https://getbelong.com/blog/global-investment/faang-stocks-vs-diversified-funds/) explains why. ## Why Resident Indians Invest Globally at All If your portfolio is entirely in India, global investing does two jobs. It spreads your risk across economies. It also gives you USD exposure. Over long periods, the rupee has tended to weaken against the dollar. When that happens, dollar assets gain value in rupee terms. This is currency [appreciation](https://getbelong.com/blog/appreciation-meaning/) working in your favour. Our guide on [INR depreciation](https://getbelong.com/blog/global-investment/inr-depreciation/) explains this simply. For a full how-to, read our guide on [how to invest in US stocks from India](https://getbelong.com/blog/global-investment/invest-us-stocks/). Our guide to [investing in the USA from India](https://getbelong.com/blog/invest-in-usa-from-india/) covers the wider picture. ## For NRIs: A Different Set of Rules If you are an NRI, LRS does not apply to you. The RBI FAQs make it a scheme for resident individuals. **If you live in the UAE**, you can usually invest globally through brokers licensed in the UAE. Compare options in our list of the [best trading platforms in the UAE](https://getbelong.com/blog/best-trading-platforms-uae/). ICICI Direct's global page also states its facility is open to NRIs. **If you plan to return to India**, think ahead. Once you become a resident, your foreign holdings may need reporting in Schedule FA. Our guide on [whether to exit US ETFs before moving to India](https://getbelong.com/blog/mutual-funds/should-you-exit-us-etfs-before-moving-to-india/) covers this. GIFT City also gives NRIs a way to hold USD investments connected to India. Many NRIs look at the [Tata India Dynamic Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/tata-india-dynamic-equity-fund/) and the [Sundaram India Mid Cap Fund](https://getbelong.com/tools/gift-city-mutual-funds/sundaram-india-mid-cap-fund-gift/). For dollar savings, look at our [USD fixed deposits](https://getbelong.com/products/usd-fixed-deposits/). Compare them in our guide on [GIFT City FD vs FCNR vs NRO and NRE FDs](https://getbelong.com/blog/gift-city-fd-vs-fcnr-vs-nro-and-nre-fds/). Our [NRI FD rates tool](https://getbelong.com/tools/nri-fd-rates/) helps you compare banks. ## Where GIFT City Changes the Picture For many resident Indians, a foreign brokerage account is not the only route. GIFT City funds offer USD exposure without opening an overseas account yourself. Our guides on [how GIFT City simplifies global investing](https://getbelong.com/blog/global-investment/how-gift-city-simplifies-global-investing/) and [investing in USD without foreign accounts](https://getbelong.com/blog/global-investment/invest-in-usd-without-foreign-accounts/) explain how. If you are weighing both, read our comparison of [GIFT City funds vs overseas platforms](https://getbelong.com/blog/gift-city-funds-vs-overseas-platforms/). You can invest through our [mutual funds product](https://getbelong.com/products/mutual-funds/). Larger investors can compare options on our [GIFT City AIF tool](https://getbelong.com/tools/gift-city-alternative-investment-funds/). Our regulatory details are on our [licences page](https://getbelong.com/licenses/). ## Keep Your Indian Portfolio in View Global investing works best alongside a sound Indian core. Do not neglect it. For Indian equity ideas, see our list of [best stocks](https://getbelong.com/blog/best-stocks/). IPO investors can explore our [IPO product](https://getbelong.com/products/ipo/) and our guide to the [GIFT City IPO](https://getbelong.com/blog/ipo/gift-city-ipo/). If you trade derivatives, note that LRS bars margin abroad. Indian and GIFT City derivatives are a separate matter. Our [futures and options product page](https://getbelong.com/products/futures-and-options/) and guide to [GIFT Nifty futures](https://getbelong.com/blog/gift-nifty-futures/) explain the basics. ## Watch Global and Indian Markets Together US market moves often show up in Indian markets the next morning. GIFT Nifty is a useful bridge between the two. Track it on our [live GIFT Nifty tool](https://getbelong.com/tools/gift-nifty/) and [weekly GIFT Nifty outlook](https://getbelong.com/blog/gift-nifty-live-weekly/). For context, see our [GIFT Nifty historical data](https://getbelong.com/blog/gift-nifty-historical-data/) and guide to [reading the GIFT Nifty chart](https://getbelong.com/blog/gift-nifty-chart-explained/). ## Before You Fund a Foreign Account Global investing sits on top of your wider finances, not instead of them. Check your [CIBIL score](https://getbelong.com/blog/cibil-score/) if you plan any borrowing. NRIs buying property in India should read our guide to [NRI home loans](https://getbelong.com/blog/nri-home-loans/). For international card spending, compare our list of the [best credit cards in India](https://getbelong.com/blog/best-credit-cards-in-india/). ## Our Final Take The best broker for international investing from India depends on two things. What you want to hold, and how much work you want to do. For simple US investing, INDmoney and Vested are clean choices. For wider markets, ICICI Direct stands out. For diversified USD exposure with less effort, GIFT City funds deserve a serious look. Whichever route you choose, know who holds your shares, respect the LRS rules and report your foreign assets every year. ## Frequently Asked Questions ### Which is the best broker for international investing from India? It depends on your goal. INDmoney and Vested suit simple US investing. ICICI Direct suits investors who want several global markets. ### Is it legal for Indians to buy US stocks? Yes. Resident individuals can invest abroad under the RBI's Liberalised Remittance Scheme, within its annual limit and rules. ### Can I trade on margin through these platforms? No. RBI's LRS FAQs do not permit remittances for margin calls abroad. Platforms like Vested and ICICI Direct state they offer cash accounts only. ### Do I need to report US stocks in my tax return? Yes, if you are a resident. The Income Tax Department requires residents to report foreign assets in Schedule FA. ### Can NRIs use these Indian platforms for global investing? LRS applies only to residents. ICICI Direct states its global facility is open to NRIs. Others may not say, so confirm eligibility first. ## Sources - [RBI FAQs on the Liberalised Remittance Scheme](https://www.rbi.org.in/commonman/english/Scripts/FAQs.aspx?Id=1834) - [Income Tax Department note on foreign asset transparency](https://www.incometax.gov.in/iec/foportal/sites/default/files/2024-11/Enhancing%20Tax%20Transparency%20on%20Foreign%20Assets%20and%20Income.pdf) - [Income Tax Department FAQs on AIS](https://www.incometax.gov.in/iec/foportal/ais-faq) - [NSE page on NSE IFSC US stocks](https://www.nseindia.com/static/resources/nse_ifsc_us_stocks) - [INDmoney US stocks](https://www.indmoney.com/us-stocks) - [Vested support page on US investing](https://support.vestedfinance.com/portal/en/kb/vested-us-stocks/about-us-stocks/us-investing-on-vested) - [ICICI Direct global investment services](https://icicidirect.com/global-investment-services) - [HDFC Securities global investing](https://www.hdfcsec.com/globalinvesting) ## Disclaimer This article is for educational purposes only and is not investment, tax or legal advice. Platform features, partners and eligibility change often, and so do LRS and TCS rules. Please confirm details on each official website and consult a qualified advisor before investing abroad. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---