ICICI Direct customers can now invest in US securities, ETFs


Posted August 28, 2020 by icicidirect

ICICI Direct account holders can digitally open the account through the icicidirect website and choose from the subscription plans available depending on their trading preference.

 
ICICI Securities has tied up with Interactive Brokers LLC, a US-based online brokerage firm to offer its customers the ability to invest in the US markets. This will help ICICI Securities’ nearly 48 lakh customers to diversify their investments outside of the Indian market and can trade in US markets across stocks, ETFs, and fixed income products.

ICICI Securities Limited, a subsidiary of ICICI Bank, operates www.icicidirect.com, a virtual financial supermarket platform.

ICICI direct account holders can digitally open the account through the icicidirect website and choose from the subscription plans available depending on their trading preference.

"There is no minimum ticket size and US markets even allow for fractional ownership of shares, so even small retail investors can build a portfolio effectively," ICICI Securities said.


“With ever increasing globalization, diversification has become an important objective for many investors to spread risks and tap opportunities across geographies and asset classes. Investing in a matured and well-regulated market like the US provides exposure to well-known and well tracked international companies," said Vijay Chandok, MD & CEO, ICICI Securities.

"We feel it is the right time to offer such a facility for our customers and are happy to join hands with Interactive Brokers. Together we will make investing in the US markets almost as seamless as it is investing in the domestic markets. The complete investment journey, right from account opening, broking, portfolio monitoring and statements will be offered seamlessly and digitally. Based on investor demand, the facility could be extended to other markets as well in the future," he added.


Ankit Shah, Director of Interactive Brokers’ Indian entity said: “This alliance will provide ICICI Securities’ clients access to stocks, ETFs, bonds and mutual funds listed in the US. We believe that many Indians have interest in investing in companies outside of India and in brands that they use every day. Indian investors will now be able to utilize Interactive Brokers’ award winning platform and execution capability to make it happen."
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Issued By icicidirect
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Business Address ICICI Centre, H.T.Parekh Marg, Churchgate, Mumbai - 400 020
Country India
Categories Banking
Tags online trading account
Last Updated August 28, 2020