Vested vs INDmoney vs Interactive Brokers: Which App for US Stocks from India?
Three apps, three price lists, one set of tax rules. Here is what each one charges, what you can buy, and which kind of investor each one suits, from their own pages.
📊 Direct Answer
Published brokerage in Oct 2026: Interactive Brokers about USD 1 per small trade, Vested 0.15% (Premium) or 0.25% (Basic, max USD 35), INDmoney 0.25% (max USD 25). But the currency conversion by your bank (INDmoney quotes 0.5% to 1.2%) can cost more than any brokerage, and the taxes are identical on every app: LRS limit USD 250,000, TCS 20% above ₹10 lakh, 12.5% long-term gains, Schedule FA reporting.
In this guide:
The quick answer
All three let a resident Indian buy US stocks and ETFs. They differ in what you pay, what you can buy and how much setup you want. The taxes are the same on every one of them, because they come from your bank and the law, not the app.
Vested
Fractional shares from USD 1, a free and a paid plan, global funds, curated baskets and a GIFT City arm.
INDmoney
One app for Indian and US investments. Zero platform fees stated, brokerage 0.25% up to USD 25, UCITS ETFs available.
Interactive Brokers
A low published commission and access to many overseas markets, with a longer application and a more detailed platform.
What this is and is not
This is a facts comparison from each company's own pages and the regulators, read on 16 Oct 2026. It is not an endorsement and not advice. Fees change, so check the live fee page before you send money.
Side by side
Swipe the table sideways on your phone. Blank or "not stated" means we could not confirm it on the official page we read.
Swipe the table sideways to see all columns →
| Vested | INDmoney | Interactive Brokers (India) | |
|---|---|---|---|
| Opening cost | Free. Basic plan ₹0. | Zero (opening, AMC, platform fee). | Account setup needs PAN, address proof, a cheque and income proof, then webcam check. |
| Brokerage on US stocks and ETFs | 0.25% of trade on Basic, 0.15% on Premium. Max USD 35 a trade. | 0.25% a trade, max USD 25 (plus GST). | Fixed: USD 0.005 a share, min USD 1, max 1% of trade. Tiered rates also published. |
| Plan or subscription | Premium ₹375 a month billed yearly (₹450 billed quarterly). | None stated. | IBKR says it charges no custody fees. |
| Currency conversion | Not stated on the pricing page. Ask before you send money. | INDmoney says banks charge 0.5% to 1.2%; it does not add its own. | IBKR says no mark-up on quotes, plus a small commission (minimum USD 2 per conversion at smaller volumes). |
| Taking money out | INR above USD 100 free; under USD 100 costs USD 3. USD withdrawals USD 5. | Zero withdrawal fee. | Not covered on the page we read. |
| Smallest start | From USD 1 (stocks, ETFs). Global funds from USD 50. | UCITS ETFs from USD 1.01 per INDmoney. | Not stated as a single minimum. |
| What you can buy | US stocks and ETFs, 350+ UCITS global funds, managed portfolios, private markets. | US stocks and UCITS ETFs (London-listed). | Stocks, bonds and ETFs on overseas markets. Residents cannot trade futures, options or margin products outside India. |
| Tax paperwork help | A tax module with downloads for your return (plan details unclear). | Free transaction and tax reports. | Statements; check what you need for Schedule FA. |
What will it really cost you?
Brokerage looks like the big number, but it is usually the small one. For a small investor, the currency conversion is often the larger cost.
Cost to buy USD 1,000 of an ETF (published rates)
USD 0.005 a share with a USD 1 minimum order (more if you buy hundreds of shares of a low-priced ETF).
0.15% (plus the ₹375 a month plan).
0.25%.
0.25% (plus GST).
The low end of the range INDmoney says banks charge.
The high end. Larger than any brokerage above.
Brokerage only, one way. You pay it again when you sell. Bank conversion depends on your bank and the day, so ask for the rate before you send. Vested and IBKR conversion terms differ from the bank range.
🧒 Like you are 5
Buying a US ETF is like buying a toy from a shop in another country. You pay the shop a small fee. But first you have to swap your rupees for dollars at a money-changer, and the money-changer's margin is often bigger than the shop's fee.
Here is the same comparison for a larger purchase:
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| Buying USD 10,000 | Brokerage |
|---|---|
| Vested Basic (0.25%) | USD 25 |
| Vested Premium (0.15%) | USD 15 (plus the plan fee) |
| INDmoney (0.25%, capped at USD 25) | USD 25 (plus GST) |
| IBKR fixed rate | USD 0.005 a share, USD 1 minimum. For example USD 1 for 200 shares, USD 5 for 1,000 shares |
| Bank currency conversion at 0.5% to 1.2% | USD 50 to USD 120 |
Two lessons. First, ask your bank for its dollar rate before you send, and compare it with the day's market rate. Second, sending fewer, larger amounts can reduce fixed costs, but do not rush a big transfer just to save a fee.
Which one fits you?
Vested may fit if…
- You are new and want a guided setup and fractional shares from USD 1.
- You want global funds (350+ UCITS funds from USD 50) or ready-made portfolios.
- You may later want GIFT City, since Vested describes itself as an authorised access provider there.
INDmoney may fit if…
- You already track your Indian investments in one app and want US stocks alongside.
- You want free tax and transaction reports and no platform fee.
- You want London-listed UCITS ETFs with small starting amounts.
Interactive Brokers may fit if…
- You trade larger amounts or often, where a USD 1 minimum matters.
- You want bonds or many markets in one account.
- You are comfortable with a longer application (documents and a webcam check) and a more complex platform.
Your first purchase in 7 steps
- Decide what to buy first. Pick the basket, not the app. Our 3-step fund guide helps.
- Choose an app and complete KYC. You will need your PAN and address proof. IBKR also asks for income proof and a webcam check.
- Ask your bank for the dollar rate. Compare it with the market rate that day. Note whether it charges a wire fee.
- Send money under LRS. Your bank will take a declaration. TCS is nil up to ₹10 lakh in the year and 20% above, and you can claim it back.
- Buy with a limit order. A limit order sets the highest price you will pay, which protects you from sudden moves.
- Keep records. Save statements and dividend details for Form 67 and Schedule FA.
- Review once a year. Check overlap with your Indian funds and your total foreign holding.
The tax rules that are the same on every app
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| Rule | What happens | Same on every app? |
|---|---|---|
| LRS limit | Up to USD 250,000 per person per financial year. | Yes. It is your limit, across all apps together. |
| TCS | Nil up to ₹10 lakh in the year, 20% above on investment. Claim it in your tax return. | Yes. It comes from your bank. |
| Dividends | 25% US tax at source on US-listed funds. Claim credit with Form 67. | Yes. |
| Profit | 12.5% after 24 months, slab rate before. | Yes. |
| Reporting | List foreign assets in Schedule FA every year. | Yes. The app can give statements, but the filing is yours. |
| US estate tax | Filing duty can start above USD 60,000 of US-listed holdings. How it works. | Applies to what you hold, not the app. |
Two wrappers, two tax outcomes
A US-listed ETF and an Irish-domiciled UCITS ETF can hold the same companies but are treated differently for US estate tax and dividend withholding. Our fund guide compares them.
Check what you already own before you add more
Your Indian funds may already hold the US companies you plan to buy. The free analyzer shows it in seconds, and lets you add any US or European stocks you hold.
Frequently Asked Questions
Which is the cheapest app to buy US stocks from India?
On published brokerage, Interactive Brokers is lowest per trade (USD 0.005 a share with a USD 1 minimum), Vested Premium is next (0.15%), and Vested Basic and INDmoney are 0.25%. But the currency conversion by your bank can be larger than any of these, so compare the total cost, not just brokerage.
Do the platforms charge extra for currency conversion?
It varies. INDmoney says the 0.5% to 1.2% conversion cost is charged by the bank, not INDmoney. IBKR says it adds no mark-up to quotes but charges a small commission per conversion (minimum USD 2 at smaller volumes). Vested's pricing page does not state a conversion mark-up, so ask before you send money.
Is my money safe on these platforms?
Vested says its broker, VF Securities, Inc., is a FINRA member and SIPC member, with SIPC protection of up to USD 500,000 including USD 250,000 for cash. SIPC protects against a broker failing, not against market losses. Check the same facts for any platform you use.
Can I use more than one app?
Yes. Your LRS limit of USD 250,000 per financial year applies to you across all apps and remittances combined. Keep records for each, because you report all foreign assets in Schedule FA.
Do I pay tax twice on US dividends?
US-listed funds withhold 25% at source for Indian investors under the India-US treaty. You declare the dividend in India and claim credit for the US tax using Form 67, so the credit reduces what you owe. Confirm with a chartered accountant.
Is this different for NRIs?
Yes. Residents use LRS. NRIs have different rules for sending and holding money. See our guide to GIFT City for NRIs vs residents, and check your own residency tax position.
People Also Ask
Is Vested legit?
Is INDmoney free for US stocks?
Can Indian residents use Interactive Brokers?
Sources
- Vested India: pricing, products and regulatory structure (Basic and Premium plans, brokerage, withdrawals, GIFT City, SIPC; read 16 Oct 2026)
- Vested India: pricing page (plan table, tax module; read 16 Oct 2026)
- INDmoney: INR to USD conversion and forex mark-up (zero platform fees, 0.25% brokerage, bank forex 0.5% to 1.2%, LRS and TCS)
- INDmoney: UCITS ETFs vs US-listed ETFs (estate tax, withholding, access)
- Interactive Brokers India: information for Indian individuals (account types, documents, restrictions)
- Interactive Brokers India: stock commissions (US stock fixed and tiered rates)
- Interactive Brokers India: currency conversion commissions
- 1Finance: TCS rules after Budget 2026
- Our guide: GIFT City vs direct US investing (rules compared)
Disclaimer: This article is for education only and is not investment, tax or legal advice or an endorsement of any platform. Fees and features were read from each company's own pages on 16 Oct 2026 and change often. Where a page did not state a figure we say so. Verify live fee pages, regulatory registrations and tax treatment with a chartered accountant before you invest.