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Alternatives to Robinhood in India

You can't access Robinhood in India, so here are 5 low-cost alternatives to trade US stocks.

US stock trading platform Robinhood is known for being the low-cost app of choice among millennial traders and it may well be the most widely recognised online broker today.

The only problem is, Indians don’t have access to Robinhood. Despite being regularly cited in the media here, the app has not launched in India. So, we tracked down a list of US-stock alternatives that offer low or zero brokerage trading for Indians.

What is Robinhood?

Robinhood is a US trading platform founded in 2013 that offers zero commissions on stocks, options and ETFs. It’s popular among traders thanks to its low fees, range of trading options and minimalist design targeting younger investors.

Users of the app often trade stock options and other assets such as cryptocurrencies using leverage. This is a higher-risk form of trading because both your profits and losses are amplified. For more on the app you can check out our Robinhood review from Finder US, bearing in mind you won’t be able to access it unless you hold residency in the US.

1. 5paisa

A 5paisa trading account offers zero-fee brokerage on Indian stocks as well as US stocks.

5paisa is an all-in-one trading platform that offers Indian investors affordable access to the NSE and the BSE, the two major equity exchanges in India. However, it also provides zero-fee brokerage trading for US stocks, just like Robinhood. It offers US shares trading thanks to its partner broker, Vested Finance.

  • Brokerage fee: ₹20 for NSE/BSE shares, $0 for US shares
  • Products: Indian stocks, derivatives, commodities, currency pairs, digital gold, mutual funds, loans, US stocks
  • Access: Mobile, website and desktop

More info

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2. Saxo Capital Markets

With your Saxo Bank account, you can trade shares from all around the world along with forex currency pairs, ETFs, CFDs, derivatives and bonds.

Saxo Capital Markets has one of the biggest global stock offerings in the world, with users able to trade on up to 36 global exchanges. Similar to Robinhood, you can trade a mix of stocks (including options), ETFs, forex, commodities and cryptocurrency markets. Though Saxo does not seem to be regulated in India specifically, it is registered with established financial bodies like the UK’s Financial Conduct Authority, the Danish FSA, and the SFC in Hong Kong.

  • Brokerage fee: US$7 per trade (Classic)/US$0.02 per share for US shares (Classic)
  • Products: US stocks, ETFs, derivatives, currency, commodity, bonds
  • Access: Full-service broker, website, mobile app, desktop
Go to Saxo's website

More info

3. ICICI Direct

With an ICICI trading account, you get access to US stocks plus mutual funds, ETFs, derivatives, bonds, IPOs and more from the Indian market.

ICICI Direct is a major online trading platform available in India. Unlike Robinhood, ICICI started out as a private sector bank and still is. However, it offers US share trading thanks to its partner broker, Interactive Brokers.

  • Brokerage fee: US$2.99 per trade (Global Starter)/$0.01 per share (Global Advantage) for US shares, ₹0 to ₹20 for trading in India
  • Products: US stocks, mutual funds, ETFs, derivatives, currency, commodity, IPO, fixed deposits, bonds
  • Access: Full-service broker, website, mobile app, desktop

More info

Motilal Oswal logo

4. Motilal Oswal

Motilal Oswal offers 24/7 chats, WhatsApp SIPs, portfolio restructuring advisory and more to customers in India.

Motilal Oswal is one of the oldest full-service brokerages in India, catering to investors of all experience levels. It offers access to a range of financial securities on the Indian markets, as well as US shares trading thanks to its partner broker, Stockal.

  • Brokerage fee: 0.5% for US and Indian stocks
  • Products: NSE/BSE-listed stocks, derivatives, commodities, currency pairs, smallcases, mutual funds, IPOs, bonds, fixed deposits, digital gold
  • Access: Full-service broker, website, app, desktop

More info

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5. HDFC Securities

Access more than 4000 US stocks from one of India’s leading stockbrokers.

As a traditional full-service broker, HDFC Securities’s fees for trading Indian stocks are definitely on the higher end. However, HDFC Securities also offers a global investing account for US shares trading, where securities can be bought for as little as a cent. HDFC is able to offer US shares trading thanks to its partner brokerage, Stockal.

  • Brokerage fee: From $0.01 for US stocks, ₹25 for NSE/BSE stocks
  • Products: US stocks, Stacks (managed funds), Indian equities, derivatives, currency pairs, commodities, mutual funds, fixed deposits, bonds, gold bonds
  • Access: Desktop, website or mobile app

More info

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6. Groww

Groww is a minimalist zero-fee trading app for US stocks that also offers Indian securities at low prices.

Groww entered the US trading scene as demand for portfolio diversification rose amongst Indian investors. Today, Groww not only offers securities listed on the NSE and BSE like other brokerages but also offers US trading services.

  • Brokerage fee:$0 for US stocks, 0.05% for Indian stocks
  • Products: US shares, Indian mutual funds, stocks, futures and options
  • Access: Desktop or mobile

More info

Compare share trading platforms

Not what you’re after? You can compare other share trading platforms in India in the table below.

Name Product Number of stocks CFDs Shares Available Markets Link
Saxo Bank
Go to site
CFD service. Your capital is at risk.
More info
CFD Service. Your capital is at risk.
Trade 40,000+ financial instruments at market-leading prices with this powerful yet intuitive trading platform.
Zacks Trade
Access to global markets
Go to site
More info
CFD Service. Your capital is at risk.
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customisable trading platforms with over 120 technical indicators for your charting needs.

Compare up to 4 providers

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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