Zerodha, Groww, Angel One, Upstox Get Nod Enabling Users To Buy US Stocks: Report
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Four top retail brokerages Zerodha, Groww, Angel One and Upstox have reportedly been granted approval from the International Financial Services Centres Authority (IFSCA) to offer investors the option to buy international and US stocks from GIFT City.
As per a Moneycontrol report, Zerodha and Upstox will function as broker-dealers, under the framework established by the IFSCA. They plan to execute trades by routing them through international clearing partners, which include Interactive Brokers, ViewTrade International, and Alpaca Securities.
Meanwhile, Groww and Angel One will operate under the global access provider (GAP) framework. ViewTrade has the GAP approval as well, whereas Interactive Brokers and Alpaca Securities’ models are yet to be launched.
The launch of international investing features will take around two to three months while the platforms iron out the technology and compliance and test all the aspects, as per Moneycontrol’s sources.
Introduced by the regulator in August last year, the GAP model offers a lower-cost, regulated pipeline for cross-border retail capital, notably allowing zero withdrawal fees when investors bring their funds back to India.
The approval has been granted via IFSCA, the financial services regulator for GIFT City, amid a rising demand from Indian retail investors seeking direct exposure to international markets.
This comes amid surging demand from Indian retail investors seeking direct exposure to international markets is driven by a desire to hedge domestic concentration, access global technology megatrends like AI and semiconductors, and diversify geographical risk.
This past week also saw the mega $75 Bn IPO of SpaceX, which is said to have triggered a 20-25% surge in trading volumes on platforms that allow users to invest in US stocks. US-based AI giants Anthropic and OpenAI have also filed to go public in the US later this year.
Additionally, while the US’ Nasdaq index is said to have delivered over 40% returns in the last year, Indian markets have remained muted due to a depreciating rupee.
Till now platforms like INDmoney, Smallcase, and HDFC Securities have been providing international investing options via alternative routes.
However, the entry of these four major players is expected to scale Indian retail investors’ access to global equities under a unified regulatory framework.
To note, these companies have been leading the domestic discount broking space for years now. As per the NSE data from May 31, 2026, Groww is the leading retail brokerage in India with over 1.3 Cr active users, followed by Zerodha with 68.5 Lakh users and Angel One with 66.8 Lakh users.
Upstox is in fifth position with 19.2 Lakh users and Raise Securities (Dhan) stands in ninth with 10.6 Lakh users. Important to mention that Dhan’s parent introduced access to US stocks & ETFs for Indian investors through the Dhan app earlier last week.
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