Now, invest in 30,000 stocks and 80 global portfolios via India INX

Since it was thrown open to investors in last November, the platform has logged 148 trades and registered 180 users, including NRIs and resident Indians

India INX Global Access has emerged as yet another option for investors wanting to put money in global securities. Since it was thrown open to investors in November last year, the platform has logged 148 trades and registered 180 users, including NRIs and resident Indians.

Investors can invest in more than 30,000 stocks across 33 countries and 135 exchanges across the US, Asia Pacific and Europe. One can also invest in more than 80 global portfolios of renowned international portfolio managers with a minimum of $100. India INXGA is in the process of tie ups with banks to offer lower remittance charges to clients.

Global Access provides a single-window interface for trading on global markets, managing clearing and settlements as well as custodian services. This eliminates the need for investors to register separately on each global exchange, thereby decreasing the overall costs of accessing global markets from GIFT IFSC.

Other benefits include a single account/login for multiple exchanges, facility to own fractional shares, paperless online account opening and fund transfer. Investors that come directly through the GA’s website after a digital KYC process do not have to pay account opening, custody and annual charges. Investors can also invest through brokers that GA has tied up with, for which they will have to pay transaction charges that may vary from broker to broker. Investors are protected by SIPC with an insurance of $500,000 for investing in US markets.

“Our model is simple and direct, where an investor can buy and own the underlying shares. Unlike others, we offer the entire universe of global stocks under one account,” said V Balasubramaniam, MD & CEO, India INX.

Indian retail investors will be able to transact under the Liberalized Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI) which currently stand at $250,000 per year. Domestic investors will not be able to do intraday or derivatives trading as these are not permitted under the LRS route.

Investing in global stocks has gained currency in the past two years in the backdrop of a decades-long bull run enjoyed by US equities and the need to avoid a single-country risk. Currently, Indian investors buy US stocks through designated online brokers who have permission from Indian and US regulators to offer such services.

On March 3, NSE allowed resident Indians to invest in NSE IFSC receipts on eight US stocks in the form of unsponsored depositary receipts (DRs). This will be gradually upped to include DRs of 50 US stocks.