Upstox on Monday announced the launch of US stocks investing on its platform, allowing Indian investors to buy and sell more than 8,000 US-listed stocks and 2,000 exchange-traded funds (ETFs) through its app.
The offering includes stocks of major global companies such as Apple, Tesla, Amazon and Google. It allows investors to start with as little as $1 through fractional investing, the stock trading and investment platform said in a statement.
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Under fractional investing, investors can own a portion of a US-listed stock instead of purchasing a full share.
"International investing represents the next significant phase of growth for India's wealth ecosystem, and launching US stocks feels like a full-circle moment," said Ravi Kumar, CEO and Co-founder of Upstox.
He added that the platform aims to give Indian investors access to global markets through a platform built for them.
Upstox said that users can fund their accounts from supported Indian bank accounts using Indian rupees, which are automatically converted into US dollars. Investors can also place orders through After Market Orders (AMOs), which allow them to place orders outside US market trading hours.
The launch expands Upstox's wealth management offerings beyond Indian equities, derivatives, mutual funds, IPOs and insurance.
Investing in US stocks can provide access to sectors such as artificial intelligence, space exploration and other emerging technologies, while also offering geographical and currency diversification, it said.
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Upstox said investments in US stocks from India are permitted under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) and operate within the applicable regulatory framework.
Under the LRS, resident individuals can remit up to $250,000 per financial year across all permitted purposes, subject to applicable rules.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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