It will now become much easier for Indian investors to invest and trade in the stocks of more than 3500 companies like Apple, Facebook and Google listed on the American stock exchange. In fact, brokerage firm IIFL Securities has tied up with global investment platform Stockal for the facility to invest in stocks of foreign companies.
With the deal between IIFL Securities and global investment platform Stockal, IIFL Securities users will now be able to invest in more than 3500 US stocks. They will also be able to invest in expert-curated stocks and ETFs along with fractional stocks. With this, investors will be able to trade according to their risk profile and preference.
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Let us tell you that there is no facility to buy Fractional Stocks in India. Here you have to buy minimum 1 stock of a company. But in the American stock exchange you can buy 10th or 40th or even 50th of 1 stock of a company.
IIFL Securities said after this partnership that more than 50% of the stockal’s customers are millennials who want to earn big profits by investing in US markets. Stockal allows you to easily invest in global companies without any paperwork.
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At the same time, Stockal said that both the companies will benefit from these partnerships, with increasing rich, this B2B partnership will increase the customer base of the companies and they will be able to offer new products.
Vinay Bhardwaj, CEO, Stockal, said that the trust of users in IIFL will help global investments reach new heights. Let us tell you that RBI has allowed Indian citizens to invest up to $2,50,000 in international stocks and bonds.
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