INDmoney

INDmoney was founded in 2019 by Ashish Kashyap (previously founder of ibibo Group and Goibibo) and is headquartered in Gurugram with an IFSC entity at GIFT City, Gujarat. It was among the earliest and most prominent Indian platforms to build end-to-end US stock investing infrastructure for Indian retail investors, and remains one of the most feature-complete options combining domestic Indian market access with international market access in a single application.

The GIFT City regulatory structure is INDmoney's key differentiator among Indian US-stock platforms. INDmoney Global (IFSC) Private Limited holds an IFSCA broker-dealer registration (IFSC/BD/2023-24/0016) and a Global Access Provider (GAP) authorisation, making it one of the first Indian fintechs to operate under IFSCA's regulated international investing framework. This structure provides regulatory clarity that the older LRS-only route (used by platforms like Vested) does not fully offer.

For US stock custody, INDmoney uses DriveWealth LLC and Alpaca Securities LLC as the underlying US broker-dealers — both SEC and FINRA-registered, with SIPC protection up to $500,000 per account. This is the same custody infrastructure used by several other international investing platforms globally.

The platform supports fractional share investing from $1, making it possible for Indian investors to access high-priced US stocks (Amazon, Tesla, Berkshire Hathaway) without needing to purchase full shares. This is a meaningful feature for Indian retail investors with smaller initial amounts who want to build diversified US portfolios gradually.

FX conversion for US stock purchases involves the INR-to-USD conversion, which INDmoney processes through its bank partnerships. The stated zero platform fee applies to account opening and maintenance; the actual FX cost is embedded in the conversion rate, typically around 0.5% above the interbank rate — similar to Vested Finance and meaningfully higher than IBKR's 0.08%. For Indian investors making large or frequent US stock purchases, IBKR's direct access remains significantly cheaper on FX costs alone.

INDmoney also integrates Indian domestic investing: NSE and BSE equities, direct mutual funds, fixed deposits, and portfolio tracking across linked accounts. This all-in-one approach — domestic and international in one app — is the primary UX advantage over having separate Zerodha and IBKR accounts.

For most Indian retail investors wanting US exposure alongside Indian markets, INDmoney is the most complete single-app solution available with strong regulatory standing. Cost-focused investors making large or frequent US investments should compare IBKR's direct access for FX savings.