Dhan, through its wholly-owned subsidiary Raise IFSC Private Limited, has launched a new investment service allowing Indian investors to trade US-listed stocks and ETFs under the regulatory framework of the International Financial Services Centres Authority at GIFT City.
- Access US stocks and ETFs via GIFT City with brokerage at 0.25%
- No account maintenance or custody fees for investors
- Investment tools include SIPs, super orders, and portfolio tracking
What happened
Dhan has introduced a service allowing Indian investors to buy and sell US stocks and ETFs through the GIFT City International Financial Services Centre (IFSC). This is facilitated by Raise IFSC Private Limited, a fully owned subsidiary of Dhan and an India INX member, operating under the oversight of IFSCA. The new offering integrates with Indian banks for compliant fund transfers and partners with ViewTrade for brokerage and GlomoPay for payment technology, ensuring a seamless investment experience.
The platform provides access to companies listed on major US exchanges such as Nasdaq and NYSE, without charging account maintenance or custody fees. Brokerage fees are set at a competitive 0.25% per transaction. Additionally, investors can utilize features typically associated with domestic investment platforms, including systematic investment plans (SIPs) for US stocks and ETFs, along with super orders and portfolio tracking tools.
Why it matters
This launch addresses a growing demand among Indian investors for diversified portfolios that include global equities, particularly in sectors like technology, AI, healthcare, and consumer goods. By operating within GIFT City's regulated framework and complying with RBI and FEMA guidelines, Dhan offers clarity and a formal route for US investments — a segment that previously lacked streamlined access for retail Indian investors.
The collaboration with Indian banking partners and structured compliance around taxes such as withholding tax under the Double Taxation Avoidance Agreement and Indian capital gains taxation ensures that investors can participate confidently in international markets. This development further positions India’s financial markets as more globally connected and investor-friendly.
What to watch next
Market participants should watch how effectively Dhan can scale its US investment service and onboard investors by enhancing partnerships with additional Indian banks and expanding payment technology options. The competitive brokerage pricing and zero custody fees may pressure other platforms offering global investing solutions to adjust their fees.
Additionally, regulators and providers will closely observe investor behavior and compliance under the IFSC framework. The absence of derivatives trading at this stage suggests a potential gradual expansion of product offerings. Finally, with other players like SAMCO Securities launching similar global platforms at GIFT City, competition to capture the growing interest in US equities among Indian retail investors is likely to intensify.