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Invest · Broker comparison
Interactive Brokers vs Zerodha
IBKR vs Zerodha for Indian investors — comparing domestic stock trading, global market access, FX costs, and which platform to use for what.
IBKR is the right choice for US/global stock investing from India (lowest FX cost at 0.08%). Zerodha is the right choice for domestic Indian stocks, mutual funds, and F&O. They serve different purposes — most serious investors use both.
Interactive Brokers
2
metrics won
$10
FX cost per $10k
✓ Winnervs
1 ties
Zerodha
4
metrics won
N/A (domestic only)
FX cost per $10k
Interactive Brokers vs Zerodha: Full comparison
| Metric | Interactive Brokers | Zerodha | Better |
|---|---|---|---|
FX cost per $10,000 | $10 | N/A (domestic only) | Interactive Brokers |
FX spread | 0.08% | 0 (no FX — INR only) | Tie |
Indian stocks (NSE/BSE) | No | Yes — industry best | Zerodha |
US/global stocks | Direct access, 150+ markets | Not offered | Interactive Brokers |
Mutual funds (India) | No | Yes — Zerodha Coin | Zerodha |
F&O (India) | No | Yes | Zerodha |
Tax P&L report (India) | Manual | Automated | Zerodha |
Our verdict
These two brokers are not direct competitors — they serve different needs. Zerodha is India's best domestic broker: unmatched for NSE/BSE trading, mutual funds via Coin, F&O, and Indian market analysis. Zerodha does not offer US or international stock investing. IBKR is the best option for Indian investors who want US/global market access via LRS. The ideal setup for many Indian investors is both: Zerodha for domestic, IBKR for international.
When to choose each
Choose Interactive Brokers if…
- Indian investors wanting US/global stock access via LRS
- Investors making regular investments in US markets
Choose Zerodha if…
- Indian investors trading domestic NSE/BSE stocks
- Investors using mutual funds, ETFs, or F&O in India
Frequently asked questions
Can Indian residents invest in US stocks through IBKR?
Yes. Indian residents can invest in US stocks through Interactive Brokers under the Liberalised Remittance Scheme (LRS), up to $250,000 per financial year. You remit USD via LRS from your Indian bank to your IBKR account. IBKR's FX cost on the conversion is 0.08% — far lower than most alternatives.
Does Zerodha offer US stocks?
No. Zerodha is a domestic Indian broker covering NSE, BSE, mutual funds (via Coin), and F&O only. It does not offer US or international stock investing. For US stocks, Indian investors use INDmoney, Vested Finance, or open an account directly with Interactive Brokers via LRS. Zerodha and Vested Finance are separate, independent companies.
Compare all brokers by FX cost
Full rankings by FX cost per $10,000 invested