Zerodha, Groww, Angel One, Upstox win GIFT City trading approval
Big news for Indian investors: Zerodha, Groww, Angel One, and Upstox have now secured approval to offer US and international stock investing through GIFT City.
Thanks to the IFSCA's approval and the GAP framework introduced last year, trading globally is about to get simpler and cheaper, with no withdrawal fees.
Zerodha, Upstox partner with clearing firms
The rollout should happen in two to three months as these platforms finish tech upgrades.
Zerodha and Upstox will work as broker-dealers, while Groww and Angel One act as Global Access Providers.
To make trades smoother, Zerodha and Upstox are teaming up with foreign clearing firms like ViewTrade International, Interactive Brokers, and Alpaca Securities.
With all the buzz around AI stocks and strong Nasdaq performance lately, this move is set to open up more global opportunities for Indian investors.