India's leading stockbroking platforms Zerodha, Groww, Angel One and Upstox have received approval to enable international and US stock investing through GIFT City, according to the International Financial Services Centres Authority (IFSCA). The services are expected to be rolled out over the next two to three months as the brokerages complete technology integration, testing and compliance processes. This development comes after Raise Securities, which operates investment platform Dhan, introduced access to US stocks last week, with the approvals adding four of India's largest retail brokerage platforms to the list of firms offering access to overseas equities through GIFT City. The approval represents a significant expansion of international investment opportunities for Indian retail investors, with the new framework launched by IFSCA through the Global Access Provider (GAP) regime in 2025 to simplify international investing through GIFT City.
Under the new Global Access Provider (GAP) framework, Groww and Angel One will operate as Global Access Providers, while Zerodha and Upstox will function as broker-dealers. To provide access to foreign markets, these platforms are expected to route transactions through overseas clearing and execution partners such as ViewTrade International, Interactive Brokers and Alpaca Securities. At present, ViewTrade has received GAP approval, while products linked to Interactive Brokers and Alpaca may take additional time to launch. These firms have already established partnerships with major US brokerage platforms, including Charles Schwab and Robinhood, which can support access to international equities. The framework has also seen expansion with INDmoney securing a GAP licence, while brokerage firms Dhan and Samco have announced international investing offerings through GIFT City. The approvals come as brokerages prepare for rollout over the next few months to complete all regulatory requirements.
The platforms have introduced several new features to enhance user experience and trading capabilities. Dhan now offers fractional investing with just $1 for US stocks, allowing investors to start with smaller amounts. The platforms have expanded their trading options to include 4X leverage on 1,700+ stocks and provide access to 50+ readymade screeners with live market insights and instant trade execution. Additionally, investors can now apply for upcoming IPOs, open IPOs and SME IPOs using mobile UPI in seconds, along with direct access to top-rated direct mutual funds at 0% commission. The platforms also feature strategy builder, flash trade, and margin facilities for options trading, and charts, futures chain, and margin for futures trading. Investors will also have access to systematic investment plans (SIPs) in US stocks and ETFs, super orders, and portfolio tracking tools.
According to Business Standard, Dhan has implemented a transparent pricing model with brokerage fixed at 0.25% of transaction value and no account maintenance or custody fees. The platform has partnered with ViewTrade for brokerage services and GlomoPay for payment technology services to facilitate investments in US securities. Speaking to Business Standard, Dhan founder and CEO Pravin Jadhav emphasized the company's regulatory positioning, stating that the offering is built entirely within the regulatory framework laid down by authorities for overseas investing. Unlike most brokerages offering US stock access from India, which usually hold shares in a US-based depository and are regulated under SEC/FINRA/SIPC oversight, Dhan's regulator, depository, and exchange are all based in India. The entry of Zerodha, Groww, Angel One, and Upstox could further broaden retail investors' access to overseas markets, with several platforms including Smallcase, INDmoney and HDFC Securities already offering international stock access through different structures.
According to the companies, international investing offers investment opportunities across sectors including technology, artificial intelligence, semiconductors, healthcare and consumer businesses, along with globally tracked ETFs. As reported by The Hindu BusinessLine and Business Standard, trading in derivatives will not be permitted at this stage. The launch comes as international investing has gained strong growth in recent years, with investors seeking exposure to themes that are less represented in Indian markets, including AI, semiconductors, electric vehicles and space technology. Global markets, particularly in the US, South Korea and Taiwan, have benefited from these trends, while Indian benchmark indices have moved more gradually. Interest has also been supported by rupee depreciation, a pipeline of high-profile public offerings and strong returns from US technology-focused indices over the past year. The market momentum has been further accelerated by the blockbuster listing of Elon Musk's SpaceX, which has reignited enthusiasm around AI-linked and next-generation technology companies, with the market closely watching potential public listings by companies such as OpenAI and Anthropic*. GIFT City, located in Gujarat, is home to India's International Financial Services Centre, a special financial zone established to facilitate cross-border financial services and transactions, providing a new gateway to global markets for Indian investors.
