ICICI revealed on Monday that traders are now free to invest and trade in the US markets. Trading can be done across stocks, ETFs (Exchange Traded Funds), and fixed income products.
This announcement came in to follow up on ICICI Securities and Interactive Brokers Group’s decision of working together to extend the service of investing in the US Capital Market. The complete approach has been marked to be digital.
MD and CEO of ICICI Securities also conveyed, “Together we will make investing in the US markets almost as seamless as it is investing in 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.”
Account-holders in ICICI Direct can digitally open accounts via icicidirect website and choose plans according to their trading needs. This will also allow the 4.8 million customer base of the company to invest in the US Capital Market.
What are ICICI Securities and Interactive Brokers Group?
ICICI Securities is one of India’s largest broking firms with ICICI Bank being the parent company. Services such as share trading (offline and online), buying or selling of mutual funds, portfolio management, Demat account, fixed deposits, insurance, and loans.
Interactive Brokers Group has been rated the best online broker in 2020 and has been a top online broker for ten consecutive years by Barron’s. One can invest and trade globally in stocks, options, futures,
currencies, bonds, and funds from a single integrated account.
What is the benefit?
This will not only assist the big players but also the small retail investors as there is no minimum ticket size and the US market even permits the ownership of shares that would be beneficial for portfolio building to all.
MD and CEO, Vijay Chandole stated, “Investing in a matured and well-regulated market like the US provides exposure to well-known and well tracked international companies. We feel it is the right time to offer such a facility for our customers and are happy to join hands with Interactive Brokers”.
The director of Interactive Brokers Indian body, Ankit Shah also put light on the fact that many Indian traders exhibit interest in trading and investing in companies and brands that lie outside India. Now, these investors are free to invest their money in their favorite shares.
According to the reports, Indian investors who keep themselves updated with the cream stocks have also been keeping a close eye on the US stocks, this new decision will benefit them in investing overseas.
To add FAANG ( Facebook, Apple, Amazon, Netflix, and Google ) companies have realized that global expansion should be the next step and that India would play a strong role in the same therefore the companies have been investing in India.