In this blog post, We are going to discuss about Stockal – A platform for investing in the US stock market from India. There are other platforms also for investing in the US stock market like indmoney.com, But we will be discussing particularly Stockal.
What is Stockal?
Stockal Headquartered is located in New York, with its India office in Bangalore. Stockal is backed by investors with established backgrounds in financial services and technology in the United States, UK, India and Singapore. DriveWealth is their U.S. brokerage partner.
Initially, Stockal was an investment management platform for retail investors in the US with the purpose of democratizing intelligence. After some time their founders Sitashwa and Vinay decided to build cross-border bridges for investors. In late 2019 they brought Stockal to Indian people looking for US stock market investment options and subsequently expanded to the Middle East in 2020.
Stockal has made investing internationally very easy for first time investors who want to diversify their portfolio by investing in international markets.
How to Open account in Stockal?
- Go to Stockal.com
- Click on the Sign Up For Free button
- Fill in all details
- Enter OTP received on mail
- Choose a Plan
- Fill your KYC details
Documents required for KYC in Stockal
It takes less than 15 minutes to fill your KYC details on Stockal and 2-3 business days for the account opening process.
During the KYC process, you will be required to upload your address and ID proofs and it will take 2-3 business days for the account to get approved by DriveWealth. (U.S. brokerage partner.)
All foreign investments fall under clearly defined RBI guidelines. The remittance of money for foreign investments comes under the Liberalized Remittance Scheme (LRS).
Under LRS, an Individual can remit up to $250,000 per financial year to invest in foreign equities done through an authorized dealer such as Stockal. As per the RBI policy, having a PAN card is required to purchase shares in foreign countries.
Now you are all set to Invest in US Stocks from India.
You can diversify your portfolio by investing in US Stocks but remembers investment in the US Stock market is subject to investment risks. Nothing contained in this website should be construed as investment advice