Rovia vs Interactive Brokers: 2026 comparison for Indian residents
Rovia and IBKR optimize for different things. Rovia for RSU consolidation, Indian-tax automation, and small-trade economics; IBKR for asset breadth and large-trade FX savings.
Last reviewed: June 2026 · Source: 4-way long-form review
Editorial disclosure: Information is compiled from publicly available sources, the platforms’ own pricing pages, and our own platform reviews. It is not verified by the brokers themselves. Vested.blog is the editorial publication of Rovia; we’ve aimed to keep this comparison factually neutral, but pricing, features, and policies can change — verify any decision-critical detail with the broker directly.
At a glance · Broker comparison for Indian residents
Rovia
Founded 2025 · Bengaluru
Interactive Brokers
Founded 1978 · Greenwich
| Brokerage | |
| 0.15% per trade | $0.35 min/order (Tiered) or $1 min/order (Fixed) |
| FX markup | |
| ~50–60 paise on inbound; 0 platform fee on outbound | ~1–5 paise per USD |
| Account minimum | |
| $1 (fractional buys) | $0 (was $10k before 2021) |
| Fractional shares | |
| Yes | Yes |
| Tax docs | |
| INR P&L per lot with vest-date SBI TT rates pre-applied, Schedule FA helper, dividend tracking with Form 67 prep, realized loss schedule for tax-loss harvesting. | US-style 1099 forms — 1099-DIV for dividends, 1099-B for sales. You convert USD figures to INR and prepare Schedule FA yourself. |
| ACATS from US employer brokers | |
| Supported via Alpaca — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. | Technically supported by IBKR LLC; IBKR India accounts (the entity available to Indian residents) cannot receive ACATS from US employer brokers. |
Best fit for
Indian residents holding RSUs/ESPP at US employer brokers who want to consolidate without selling first
Best fit for
Investors deploying Rs 25 lakh+ per year where FX savings compound meaningfully
Information compiled from public sources · NOT verified by the brokers · Last reviewed: June 2026
vested.blog/compare/rovia-vs-ibkr
How Rovia and Interactive Brokers compare
These two rarely overlap in the same investor's mind. Rovia is built for Indian residents with RSUs at US employer brokers — inbound ACATS via Alpaca, lot-level INR tax tooling, automated Schedule FA, and 0.15% per trade. IBKR is a direct US broker with near-interbank FX, options/futures, and 80+ international exchanges — but the per-order minimum ($0.35 Tiered, $1 Fixed) makes small or frequent trades meaningfully more expensive than Rovia. The IBKR India account that Indian residents can open also does not support inbound ACATS from US employer brokers.
Spec-by-spec
| Dimension | Rovia | Interactive Brokers |
|---|---|---|
| Brokerage | 0.15% per trade for equities and ETFs. | Tiered plan: $0.0035 per share, minimum $0.35 per order. Fixed plan: $0.005 per share, minimum $1 per order. On a single large trade, the per-share rate is near-zero. But the per-order minimum matters for small or frequent trades: on Tiered, the $0.35 minimum equals Vested's 0.25% commission at a $140 trade — below that, Vested is cheaper. On Fixed plan, the crossover is at $400. So weekly $50–$100 buys cost meaningfully more on IBKR than on the Indian-aware platforms. |
| FX markup | Inbound LRS FX markup typically 50–60 paise above the live interbank rate. On outbound repatriation, Rovia takes 0 platform fee — you pay only your Indian bank's wire-conversion rate. | FX conversion happens internally at near-interbank rates. The same near-interbank treatment applies to outbound repatriation. |
| Account minimum | $1 (fractional buys) | $0 (was $10k before 2021) |
| Fractional shares | Yes | Yes |
| Asset universe | Most major NYSE/NASDAQ stocks and ETFs at launch. UCITS funds and global stocks are on the Q2/Q3 2026 roadmap. No options or OTC at launch. | Everything — NYSE, NASDAQ, AMEX, OTC, plus 80+ international exchanges. Options, futures (margin permission required), bonds, mutual funds. |
| RSU / ESPP support | Inbound ACATS supported via Alpaca. RSUs at Fidelity, E*TRADE, Schwab, and Morgan Stanley can be transferred in. | ACATS-in is technically supported by Interactive Brokers LLC, but IBKR India accounts (the entity Indian residents can open) cannot receive ACATS from US employer brokers. |
| Tax docs | INR P&L per lot with vest-date SBI TT rates pre-applied, Schedule FA helper, dividend tracking with Form 67 prep, realized loss schedule for tax-loss harvesting. | US-style 1099 forms — 1099-DIV for dividends, 1099-B for sales. You convert USD figures to INR and prepare Schedule FA yourself. |
| W-8BEN handling | Handled at signup; 3-year renewal automated. | Upload yourself at onboarding; renewal reminders come from IBKR. Slightly more work than the Indian-aware platforms. |
| Customer support | India-based, IST hours, in-app chat plus email. Small team; engineering and product responses are direct. | US-based, email + chat. Strong on technical broker issues; weaker on India-specific tax questions. Hours overlap awkwardly with IST. |
| Account safety | Shares held at Alpaca Securities (FINRA-regulated, US clearing broker); SIPC insurance up to $500k per account. | SIPC up to $500k per account plus proprietary excess insurance through Lloyd's of London taking total coverage to $30M. |
| ACATS-in | Supported via Alpaca — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. | Technically supported by IBKR LLC; IBKR India accounts (the entity available to Indian residents) cannot receive ACATS from US employer brokers. |
| Repatriation | 3–5 business days; 0 platform fee on outbound FX (you pay your Indian bank's wire-conversion rate only). | 2–5 business days; FX conversion happens internally at near-interbank rates. |
| US partner broker | Alpaca Securities | Interactive Brokers LLC (direct — no Indian intermediary) |
| Regulation | SEBI-registered in India; underlying broker is FINRA/SIPC member in the US | FINRA/SIPC-regulated in the US; public company (NASDAQ: IBKR) |
Which one fits you?
Neither platform is universally better. Both are legitimate long-term homes for an Indian resident’s US portfolio. The right pick depends on your stage, what you already hold, and how much paperwork you’ll handle.
Pick Rovia if
- •You hold RSUs at Fidelity, E*TRADE, Schwab, or Morgan Stanley and want to consolidate them on an India-friendly platform
- •You want lot-level Indian-tax tooling — SBI TT-rate cost basis, lot selection at sell, realized-loss schedules
- •You're making small or frequent trades — the IBKR per-order minimum dominates at sizes under ~$140 per trade; Rovia's 0.15% is cheaper
Pick Interactive Brokers if
- •You're deploying Rs 25 lakh+ per year in larger trade sizes where FX savings compound and the per-order minimum is negligible
- •You need options, futures, or international exchange access
- •You're a self-directed investor comfortable with US-format tax forms
Honest trade-offs
Every platform optimizes for some users and not others. Here are the real constraints to factor in — not flaws, just design choices.
Rovia — constraints to factor in
- ·Youngest of the four platforms — narrower asset universe at launch (UCITS / global stocks on roadmap)
- ·Smaller team means less polish on edge cases than the more established platforms
- ·Less suitable for investors with no RSU exposure — the RSU-specific tooling is over-engineered for pure retail use
Interactive Brokers — constraints to factor in
- ·Onboarding is rigorous — 5–10 business days, detailed financial questionnaire
- ·No India-format tax docs or Schedule FA helper — you prepare ITR materials yourself
- ·Cannot receive ACATS from US employer brokers on the IBKR India account
- ·Per-order minimum ($0.35 Tiered / $1 Fixed) makes small or frequent trades expensive — for SIP-style $50–$100 weekly buys, the Indian-aware platforms (0.15–0.25% of trade value) are cheaper
FAQ
- Is Rovia better than Interactive Brokers?
- Neither platform is universally better. Rovia RSU-first Indian platform with lot-level tax tooling, inbound ACATS from US employer brokers, and 0 platform fee on outbound repatriation. Interactive Brokers Direct US broker with the lowest FX cost and the widest asset universe — designed for serious, self-directed investors. The right pick depends on how much you’re deploying per year, whether you hold RSUs at a US employer broker, and how much tax-paperwork friction you’ll handle.
- What's the FX cost difference between Rovia and Interactive Brokers?
- Rovia: ~50–60 paise on inbound; 0 platform fee on outbound. Interactive Brokers: ~1–5 paise per USD. On a Rs 10 lakh remittance, the difference compounds — over a multi-year horizon it can be meaningful for larger deployments, and trivial for smaller ones.
- Can I transfer my US employer RSUs to Rovia or Interactive Brokers?
- Rovia: Supported via Alpaca — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. Interactive Brokers: Technically supported by IBKR LLC; IBKR India accounts (the entity available to Indian residents) cannot receive ACATS from US employer brokers.
- Are both brokers regulated and safe?
- Yes. Rovia: Shares held at Alpaca Securities (FINRA-regulated, US clearing broker); SIPC insurance up to $500k per account. Interactive Brokers: SIPC up to $500k per account plus proprietary excess insurance through Lloyd's of London taking total coverage to $30M. For most Indian retail accounts under $500k, the standard SIPC coverage is plenty.
- Do both platforms handle Schedule FA reporting?
- Rovia: INR P&L per lot with vest-date SBI TT rates pre-applied, Schedule FA helper, dividend tracking with Form 67 prep, realized loss schedule for tax-loss harvesting. Interactive Brokers: US-style 1099 forms — 1099-DIV for dividends, 1099-B for sales. You convert USD figures to INR and prepare Schedule FA yourself. For our complete walkthrough of Schedule FA disclosure, see the Schedule FA guide.
Other broker comparisons
A note on freshness. Pricing, features, and policies on all four platforms change. We re-review on a quarterly cadence; the last full review was June 2026. If you spot an inaccuracy or a materially-changed fact, please flag it — accuracy here matters more to us than pretending the data is settled.
This page is editorial. It is not investment advice. Vested.blog is the editorial publication of Rovia. The comparison above is drawn from our 4-way long-form review, which discloses the relationship and contains the underlying methodology.