India’s 5paisa, a publicly-listed Fintech company, has introduced the option to acquire international stocks. Prakarsh Gagdani, CEO at 5paisa, confirms that the new service allows its customers to invest in shares listed on Indian stock exchanges and it also allows them to acquire US stocks.
“With our international investing [option,] you can own global companies like Apple, Tesla, Amazon, etc. We are one of the first Indian brokers to offer this service to our clients. Investing in US stocks as an option existed before but it was tedious and involved a lot of paperwork. At 5paisa, we always believed in providing investing solutions which can be done end to end digitally and at the lowest cost.”
Gagdani revealed that 5paisa has teamed up with Vested Finance Inc, a US-based advisory company. Through the partnership, 5paisa will be offering an online, seamless experience to all its clients so that they can invest in US stocks. Gagdani points out that investing via the 5paisa platform is free, meaning there are no transaction fees or other charges. He claims that the company is the first Indian broker to not charge fees or brokerage for facilitating trades.
Gagdani also mentions:
“Today names like Amazon, Apple, Netflix, Tesla, Facebook have become household names for us. Millennials today watch Netflix more than they see Indian OTT channels, [and they] aspire to buy an Apple phone as compared to any Indian brand (Actually there is hardly any Indian company in mobile phones), book hotel reservations from Airbnb, use Facebook, Instagram and WhatsApp for their social interactions and practically live on Google for everything else. So if we all use these, then why not own shares of these companies as an investment option?”
He explains that stock market returns are usually linked