Upstox launches US stocks investing
Upstox will offer access to 8,000 stocks 2,000 ETFs and investors can start with just $1 investment.
Upstox, an Indian stock trading and investment platform, has announced the launch of its services for US stocks investing. This move allows Indian investors to purchase and sell over 8,000 US-listed stocks and 2,000 exchange-traded funds (ETFs) through the Upstox app. The platform offers access to major global companies like Apple, Tesla, Amazon, and Google. Investors can begin with a minimum investment of just $1 through fractional investing, which enables them to own a fraction of a stock rather than a whole share.
Ravi Kumar, CEO and Co-founder of Upstox, emphasized that this initiative marks a significant step in India's wealth ecosystem, providing Indian investors with global market access. The wealth management platform, built for Indian investors, now extends beyond Indian equities, derivatives, mutual funds, IPOs, and insurance to include US stocks investing.
Funding for these accounts can be done via supported Indian bank accounts in Indian rupees, which are automatically converted into US dollars. Additionally, investors can place orders using After Market Orders (AMOs), allowing them to buy and sell outside US market trading hours. This launch broadens Upstox's offerings, enabling investors to tap into sectors such as artificial intelligence, space exploration, and other emerging technologies, all while diversifying geographically and in terms of currency.
It is important to note that these investments are permitted under India's Liberalised Remittance Scheme (LRS), allowing resident individuals to remit up to $250,000 per financial year for various permitted purposes. All transactions are carried out in compliance with the applicable regulatory framework.
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