ForexFee is a comparison platform, not a financial adviser. This is not investment advice. Always research investments independently.
Invest · Broker comparison
Interactive Brokers vs Zerodha
IBKR vs Zerodha for Indian investors wanting to buy US stocks — FX cost, LRS process, platform experience, and total all-in cost compared.
IBKR charges $10 FX cost per $10,000 vs Zerodha's $50. IBKR also gives direct access to US exchanges; Zerodha routes through a third party. For frequent US stock investors, IBKR wins on cost.
Interactive Brokers
4
metrics won
$10
FX cost per $10k
✓ Winnervs
0 ties
Zerodha
3
metrics won
$50
FX cost per $10k
Interactive Brokers vs Zerodha: Full comparison
| Metric | Interactive Brokers | Zerodha | Better |
|---|---|---|---|
FX cost per $10,000 | $10 | $50 | Interactive Brokers |
FX spread | 0.08–0.2 bps | 0.5% | Interactive Brokers |
Indian stocks | No (US and global only) | Yes (NSE/BSE) | Zerodha |
US stocks | Direct access | Via third-party | Interactive Brokers |
LRS process | Direct LRS wire | Varies by integration | Interactive Brokers |
INR trading | No | Yes | Zerodha |
Tax P&L report (India) | Manual | Automated | Zerodha |
Our verdict
Zerodha is India's best domestic stock broker — intuitive, cheap for NSE/BSE trades, and deeply integrated with Indian tax reporting. But for US stocks, IBKR is significantly cheaper. Zerodha's international investing (via Vested or third-party integration) adds intermediary costs. Indian investors who want direct, low-cost US stock access should use IBKR directly under LRS.
When to choose each
Choose Interactive Brokers if…
- Indian investors focusing on US/global stocks under LRS
- Investors making regular large investments (>$1,000/month) in US markets
Choose Zerodha if…
- Indian investors primarily trading NSE/BSE domestic stocks
- Investors who need integrated INR trading and US stock access in one platform
Frequently asked questions
Can Indian residents invest in US stocks through IBKR?
Yes. Indian residents can invest in US stocks through Interactive Brokers India (IBKR India) under the Liberalised Remittance Scheme (LRS), up to $250,000 per financial year. You'll need to remit USD via LRS from your Indian bank to your IBKR account.
Does Zerodha directly offer US stocks?
Zerodha itself focuses on Indian markets. For US stocks, Indian investors have used Vested Finance (a Zerodha ecosystem partner) or direct LRS to IBKR. The cost of US stock investing through intermediaries vs direct IBKR is typically 0.5–1% higher.
Compare all brokers by FX cost
Full rankings by FX cost per $10,000 invested