Invest · Broker review

Zerodha (via Vested)

India's largest broker for domestic stocks — US investing requires LRS transfer and typically higher FX costs.

Reviewed by Aayush Jain·Updated May 2026

Visit Zerodha (via Vested)Compare all brokers

Overall score

7.2/10

FX rank#11 of 20

FX cost / $10k$50

Conversion spread0.5%

Trading commissionFree

Annual feeNone

Min investmentNone

$40 more per $10,000 than Interactive Brokers (FX cost only)

Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.

Verdict

Zerodha is the right choice for Indian domestic equity trading — lowest fees, best execution, strong platform. For US stocks specifically, the LRS remittance goes via a bank partner at ~0.5% FX margin, which is 6x more expensive than doing the same via IBKR (0.08%). If you're an Indian investor buying US stocks regularly, open an IBKR account alongside Zerodha to save significantly on FX costs.

FX cost breakdown

Conversion spread

0.5%

Above mid-market rate

Fixed FX fee

None

Per currency conversion

Total FX cost / $10k

$50

Realistic all-in estimate

FX cost comparison on $10,000 investment

Interactive Brokers$10

Trading 212$15

Tiger Brokers$20

moomoo$25

Pros & cons

Pros

Best domestic Indian stock broker — lowest fees, fastest execution
SEBI-regulated with strong compliance track record
Zerodha Coin for direct mutual fund investments
Excellent Kite platform and educational content
US stocks accessible via Vested integration

Cons

LRS bank transfer for US investing typically costs 0.5-1% FX margin
Not optimal for frequent US stock investors — IBKR is significantly cheaper
US investing is a bolt-on via Vested, not native
$250,000 LRS annual limit applies (sufficient for most retail investors)

Who can use it

India

Markets available

India (NSE, BSE)USA (via Vested integration)

Supported corridors

INR→USD

Regulated by

India

SEBI

Frequently asked questions

How do Indian investors buy US stocks through Zerodha?

Zerodha partners with Vested Finance for US stocks. You initiate an LRS transfer from your Indian bank to fund your Vested account. The bank charges a TCS (Tax Collected at Source) of 20% on LRS amounts above ₹7 lakh — this is refundable via income tax filing, not a permanent cost.

What FX cost does Zerodha/Vested charge for INR to USD?

The LRS transfer goes through your bank, which charges 0.5-1% FX margin. Vested itself doesn't charge an additional FX fee, but the bank conversion is the main cost. On ₹8,00,000 (~$10,000), that's ₹4,000-8,000 lost in FX — vs ₹800 via IBKR.

Is there a better way for Indian investors to buy US stocks?

Yes — Interactive Brokers (IBKR) handles the INR→USD conversion internally at 0.08% margin vs the 0.5-1% bank rate for LRS. Both routes comply with LRS rules. IBKR saves $40-90 per $10,000 invested in FX costs alone.

What about TCS on LRS remittances?

TCS (Tax Collected at Source) of 20% applies on LRS remittances above ₹7 lakh per year for overseas investment. This is collected at the time of transfer but is fully refundable when filing your income tax return. It's a cash flow cost, not a permanent tax.