Foreign investments

IIFL Securities partners with Stockal for foreign investments

IIFL Securities, the brokerage arm of IIFL Group, has partnered with global investment platform Stockal for overseas investment. Partnership will help IIFL Securities clients gain access to over 3,500 U.S.-listed companies, invest in expert-selected fractional stocks, stocks and ETFs based on risk and industry preferences individual investors, IIFL said in a statement.

Millennials make up more than 50% of Stockal’s customer base due to strong international business awareness and the ease of doing business online without any paperwork. The combination between the two companies will help increase the number of millennials willing to invest in the US stock market. This strategic B2B partnership will provide both companies with an edge to increase their reach and product offering for savvy investors, the statement added.

Vinay Bharathwaj, Co-CEO and Co-Founder of Stockal, said: “Investor confidence in IIFL will help take global investing to the next level. This partnership will help the company provide global investment options to existing and new clients, ensuring long-term relationships. It will also allow thousands of young Indian investors to be exposed to the opportunities offered by global markets. Together with the IIFL, we will help establish a seamless pathway for all investors nationwide.”

Sandeep Bhardwaj, CEO of IIFL Securities, said: “India’s new retail investors, made up mostly of Millennials and Generation Z, are increasingly looking to diversify their portfolio into global assets. A general interest in investing in US equities, particularly fractional investing, has been seen since the Covid-19 pandemic brought uncertainty to the domestic market. Our partnership with Stockal will open up new avenues for our clients to invest seamlessly in global markets.”

Indian residents are allowed to invest up to $250,000 a year in international stocks and bonds under the RBI’s liberalized installment scheme.

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