Investing in US Stocks via GIFT City
INDmoney has served US stocks via GIFT City since August 2025, first to launch, and is a principal Global Access Provider (GAP), trusted by over 1 million investors. GIFT City (Gujarat International Finance Tec-City) is India’s International Financial Services Centre. The GIFT City route lets Indian investors own US stocks directly, under an Indian regulatory umbrella (IFSCA), without the compliance burden of a foreign broker. INDmoney offers this route as a principal Global Access Provider (GAP) - which is the single most important thing to understand when choosing a platform, because the alternative is an Introducing Broker that only onboards you to someone else’s GAP. This page explains how INDmoney’s GAP works, and why that distinction matters to you.
What Is the GIFT City Route for US Stocks?
GIFT City is India’s IFSC, regulated by the IFSCA, created to bring global financial activity under one Indian regulatory framework. To offer US stocks through it, a platform needs a licence from IFSCA. Under the Global Access Provider regulations, two very different kinds of entity can offer the route: a principal (a GAP, which is what INDmoney is) or a distributor (an Introducing Broker). They are not equivalent, and the next section explains exactly why.
INDmoney Is a Principal GAP - Not an Introducing Broker
What INDmoney Does as a Global Access Provider (GAP)?
A GAP is the IFSCA-licensed entity in GIFT City that holds direct relationships with regulated foreign clearing & custody institutions. INDmoney GAP, as a principal entity, is directly accountable to IFSCA for the whole experience. As a GAP, INDmoney:
• Holds two licences from IFSCA, plus a GAP authorisation on top of it.
• Maintains direct contractual relationships with regulated foreign custody brokers, which are also regulated by the SEC and FINRA.
• INDmoney has direct control over trade execution, fund flows, and custody arrangements.
• Is fully accountable to IFSCA for compliance, investor protection, and AML obligations.
• Runs the entire investing infrastructure itself, onboarding, wallets, remittances, execution and settlement, without sharing your information with intermediaries.
How an Introducing Broker (IB) Differs?
An Introducing Broker is a distributor, the model INDmoney does NOT use. An IB is registered with IFSCA but holds no direct relationship with any foreign custody or clearing institution; it plugs into a GAP’s infrastructure and introduces clients to that GAP. Everything beyond client acquisition, execution, custody, compliance, and the foreign-broker relationships is handled by the GAP. An IB:
• Has no direct relationship with foreign custody and clearing institutions/ brokers.
• Has no control over how trades are executed or how client funds are held.
• Is entirely dependent on its GAP partner for all execution and custody.
• Shares user information with, and onboards users to, the GAP to enable investing.
• Is essentially a distribution and referral entity.
Why INDmoney Being the Principal Matters to You?
Both GAPs and IBs are inside GIFT City, and both are regulated, so this is about structure and accountability, not safety. Because INDmoney is the principal GAP, one entity is directly accountable for your whole experience and holds your relationship and your data. With an Introducing Broker, you are handed over to a separate GAP that actually runs everything, and your information is shared with that intermediary. With INDmoney, there is no middleman to a GAP, INDmoney is the GAP, which means clearer accountability, tighter control over cost and money movement, and your data staying in one place.
INDmoney GAP vs Introducing Broker vs Overseas Broker
The three ways to hold US stocks from India, side by side. The first two are both inside GIFT City; the third is an overseas account.
| INDmoney GAP | Introducing Broker (IB) | Direct US Broker (overseas) | |
| What it is | Principal IFSCA broker-dealer + GAP authorisation | Distributor/referral entity registered with IFSCA | Foreign broker, account opened abroad |
| Foreign clearing & custody relationship | Direct, with SEC/FINRA-regulated custody and clearing brokers | None. Relies on a GAP partner | The foreign broker itself. It works with another custody institution. |
| Control over execution, funds & custody | Direct - INDmoney controls it | None - dependent on the GAP | With the foreign broker |
| Accountable to IFSCA for your experience | Yes. INDmoney, fully | Registered, but execution/custody/compliance sits with the GAP | Not under Indian regulation |
| Your KYC & data | Managed by INDmoney; not shared with intermediaries | Shared with, and onboarded to, a separate GAP | Held by the foreign broker |
| Payments & LRS | INDmoney in-house. INDmoney's own direct bank integrations (India + GIFT City) and offers faster deposits and withdrawals. Zero cost of deposits and withdrawals | Via the GAP, it plugs into third-party payments and settlement providers – no control. | The investor manages LRS. Often, there is a fixed cost associated. |
| Tax & documents | Managed end-to-end by INDmoney | The investor has to manage | The investor manages all of it |
| Entities between you & your stocks | Investor→ INDmoney is the one principal → US custody | Investor → PSP-> IB → GAP → foreign broker → US custody | Investor → foreign broker → US custody |
How INDmoney’s GIFT City Route Works End to End
As a principal GAP, INDmoney runs the whole route itself rather than introducing you to someone else’s infrastructure:
1. KYC: You open an account and complete KYC (PAN + Aadhaar) with INDmoney. The entire process is paperless, and it typically takes less than 5 minutes.
2. Funding to GIFT City Wallet: You remit under RBI’s LRS; INDmoney, integrates across multiple Indian banks, facilitates the INR–USD conversion and LRS paperwork (Form A2) in-app. Funds reach your GIFT City US-stocks wallet, and stay in GIFT City. Fast deposits, best exchange rates and Zero Fee. Learn more here about INDmoney Fast Remit.
3. Direct US custody: INDmoney’s direct relationship with regulated US clearing/custody brokers means your shares are held at the DTCC (the US equivalent of NSDL/CDSL). You hold beneficial ownership; the shares are yours, with no fund manager in the middle.
4. Withdraw: Money comes straight back to your savings account from GIFT City fast, at competitive exchange rates.
The Flow: No Hops, No Multiple Intermediaries
| INDmoney (GAP) | Indian investor → GIFT City wallet → Money stays in GIFT City → Direct US custody (DTCC) (Ex: DriveWealth/ Alpaca/ Apex, etc.) Withdrawals go straight back to your savings a/c. Fast & low cost. |
| Introducing Broker | Indian Investor → Introducing Broker (distributor shares your data) → GAP partner (Example: NSE IX/ INX subsidiaries. Note : these are not exchanges) → Foreign broker (Example : Viewtrade) → US custody broker (Ex : Apex) (DTCC) |
| Direct US broker | You → Foreign broker (LRS each way; you self-manage) → US custody. All documentation & compliance is on you. |
Payments & Settlement : Run In-House, Not Outsourced
Moving money is where most platforms quietly hand off. Many Introducing Brokers and even other GAPs outsource deposits, withdrawals and settlement to a third-party payment service provider (PSP). INDmoney runs this itself, direct integrations with major banks in India and in GIFT City mean deposits, withdrawals and settlement are handled end-to-end by INDmoney, not a third party. Fewer handoffs on the rail your money actually travels on means faster movement, better control over exchange rates, and one accountable owner if anything needs fixing.
What “Hops” Cost You?
Every extra entity between you and your stocks adds cost, time, transparency, slows money movement, and dilutes accountability. When something goes wrong, more handoffs mean less clarity on who fixes it. A principal GAP keeps the chain short and the accountability single.
Everything INDmoney Manages, End to End
Because INDmoney is a principal GAP, the entire journey is handled in one place, nothing outsourced to a chain of third parties:
• KYC & account setup : Paperless, in-app.
• LRS & money movement: In-house PSP, multiple banks, Form A2 handled in-app.
• SIPs & all order types: Systematic investing and full order control.
• Dividends: Credited to you directly as beneficial owner.
• Portfolio analytics: Performance, holdings, diversification.
• Taxation end-to-end: Documents and statements for your US stocks and your other instruments, built for ITR filing.
What Does It Cost?
The INDmoney GIFT City route is transparent: brokerage of 0.25% with a ceiling, zero AMC, zero account fee, zero fixed fee, zero documentation charges like W8Ben/ A2 etc), zero fixed fee on Deposits and Withdrawals, no hidden charges on INDmoney. Currency-conversion markup charged by the banks. Fewer intermediaries means fewer places for cost to accumulate.
Why INDmoney Leads the GIFT City Route?
A principal GAP, not a distributor
INDmoney holds the GAP authorisation and the direct foreign-broker custody broker relationships itself, and is directly accountable to IFSCA for your experience, it does not introduce you to someone else’s infrastructure.
Operating since 2025, proven at scale
INDmoney is the first in India to start serving US stocks via GIFT city. Started with broker-dealer and then as a authorised GAP since August 2025, with the broker-dealer foundation before that.
3 million+ US Stocks A/C of Indian investors
Over 3 million investors have chosen INDmoney to open their US stocks a/c, making it the primary destination for this from India today.
End to end, nothing outsourced
KYC, payments, execution, custody access, dividends, analytics and taxes, one accountable provider, fewer points of failure.
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Frequently Asked Questions
INDmoney is a principal Global Access Provider (GAP), it holds the IFSCA broker-dealer licence plus GAP authorisation, maintains the direct foreign-broker and US custody relationships itself, and runs onboarding, payments, execution, custody access and taxes end-to-end. It is not an Introducing Broker and does not hand you over to a separate GAP.
A GAP is the IFSCA-licensed broker-dealer in GIFT City that holds direct relationships with regulated foreign clearing brokers and is the principal, directly accountable to IFSCA for execution, custody, compliance and your whole experience. Because INDmoney is a GAP, one accountable entity holds your relationship and data, rather than introducing you to someone else’s infrastructure.
An IB is a distributor registered with IFSCA that introduces you to a GAP. It has no direct foreign-broker or custody relationship, no control over execution, and shares your information with the GAP that actually runs everything. INDmoney is the GAP itself, the principal, not a referral entity to one.
Your money moves into your US-stocks wallet in GIFT City and stays within GIFT City’s regulated framework i.e Within India; INDmoney processes payments through multiple Indian banks, and your stocks are held at the DTCC in the US with you as the beneficial owner.
Yes. As a principal GAP, INDmoney manages tax documents and statements end-to-end for your US stocks and other instruments, not outsourced
With a foreign broker you open an account abroad that is not regulated by Indian authorities, and you manage the LRS remittances, documentation and tax compliance yourself. With INDmoney’s GAP route you invest under an Indian regulatory umbrella and INDmoney handles that work for you.
Over 3 million people have opened an INDmoney US stocks investment a/c, making INDmoney the primary destination for US stocks investing from India today.
No. Unlike many platforms, including some other GAPs, that outsource deposits, withdrawals and settlement to a third-party payment service provider, INDmoney runs payments and settlement in-house through direct integrations with major banks in India and GIFT City. This means faster money movement, competitive exchange rates, and one accountable provider end-to-end.