Zerodha has launched a beta test of US stock investing for a limited cohort of Indian retail traders, charging a 0.1% brokerage fee capped at $10 per trade. The announcement sparks discussion among active traders who weigh the low fee structure against potential currency conversion costs.
Under the new scheme, Zerodha lists a minimum commission of $0.01 and a maximum of $10, ensuring that a $20,000 order incurs only the cap rather than the full 0.1% rate. Groww, by contrast, offers the same 0.1% rate but imposes a $1 minimum with no cap, leaving Zerodha’s model more appealing for larger orders.
Currency conversion marks up 0.5% to 1.2% above the RBI reference rate, and the final cost will also include bank fees and applicable taxes. Investors should compare the total cost of funding and trading, as the brokerage fee alone does not capture the full expense.
The beta is restricted to resident Indian individuals; NRIs, non‑individual accounts, and certain LRS‑compliant funds are excluded. Users must also confirm whether UCITS ETFs are available, as the public guide does not explicitly confirm their inclusion.
Zerodha has not yet disclosed the underlying US brokerage partner, and the uptake of the beta will likely hinge on how quickly the platform can clarify technical details and broaden eligibility. Analysts expect the service to attract a surge of retail investors once the beta proves stable.