Groww vs INDmoney for US stocks: which is better? (2026)
Groww: 0.1% or $1 min, GIFT City, 10,000+ stocks. INDmoney: 0.25%, GIFT City, lot-level ITR tax docs, OTC access. Real cost comparison and who should use which.
Arnav GroverCo-Founder & Chief Product Officer, RoviaGroww and INDmoney are both GIFT City IFSC platforms, both aimed at mainstream Indian retail investors, and both with 10,000+ stock universes. The differences come down to brokerage pricing, FX markup, tax reporting depth, and track record.
Quick answer
| You are... | Recommendation |
|---|---|
| A Groww user wanting US stocks with lowest brokerage (trades >$1K) | Groww |
| An investor wanting lot-level ITR-format tax reports | INDmoney |
| An investor wanting OTC stocks | INDmoney only |
| An investor wanting Indian + US portfolio in one view | INDmoney |
| An investor doing very small trades (<$1K each) | INDmoney (no $1 floor) |
| An RSU holder | Neither — use Rovia |
Fee comparison
| Fee | Groww | INDmoney |
|---|---|---|
| Account opening | ₹0 | ₹0 |
| Annual fee | ₹0 | ₹0 |
| Brokerage | 0.1% or $1 min | 0.25%, capped $35 |
| FX markup | 0.5–3.5% (dynamic) | ≈50–75p/$ (≈0.6–0.9%) |
| Withdrawal fee | ₹0 | ₹0 |
| OTC stocks | No | Yes |
| Tax reports | Standard | Lot-level ITR format |
Brokerage comparison
| Trade size | Groww | INDmoney | Cheaper |
|---|---|---|---|
| $200 | $1.00 (min) | $0.50 | INDmoney |
| $500 | $1.00 (min) | $1.25 | Groww |
| $1,000 | $1.00 | $2.50 | Groww |
| $5,000 | $5.00 | $12.50 | Groww |
| $10,000 | $10.00 | $25.00 | Groww |
The break-even is at $500: above that, Groww's 0.1% beats INDmoney's 0.25%. Below $500, INDmoney's percentage-based pricing beats Groww's $1 floor. For most investors making trades of ₹40,000+, Groww is cheaper on brokerage.
FX markup
INDmoney's 50–75 paise per USD is more transparently stated than Groww's 0.5–3.5% range. Both are in a similar band at the low end; Groww's upper end (3.5%) is significantly more expensive.
| Transfer | Groww (0.5%) | Groww (2.0%) | INDmoney (0.75%) |
|---|---|---|---|
| ₹10 lakh | ≈₹5,000 | ≈₹20,000 | ≈₹7,500 |
| ₹25 lakh | ≈₹12,500 | ≈₹50,000 | ≈₹18,750 |
Always check the in-app rate before transferring on Groww — the dynamic pricing means your actual cost varies significantly.
Tax documentation: INDmoney is ahead
INDmoney's lot-level ITR-format statements — with individual buy prices, sale prices, dates, and INR-converted gains per lot — reduce CA work at tax season. Groww's reporting is standard-format and does not yet match this depth.
For investors with many lots (active traders, RSU holders, or those who have been investing for several years), INDmoney's documentation is meaningfully better.
Track record
INDmoney has been operating US stock investing since approximately 2019–2020. Groww launched US stocks in beta in October 2026. For investors who value platform stability and proven support quality, INDmoney's track record is a real advantage.
Decision
Choose Groww if:
- You are already a Groww user (same app, no extra KYC)
- Your typical trade is ₹40,000+ (above the $1 minimum threshold)
- You are comfortable with a beta product
Choose INDmoney if:
- You want lot-level ITR-format tax reports
- You need OTC stock access
- You want a unified Indian + US wealth view
- You prefer a platform with 5+ years of operating history
Related reading
- Groww US stocks: full charges guide
- INDmoney charges explained in full
- Best US stock platform for Indians 2026
Vested.blog is the editorial publication of Rovia.
Frequently asked questions
- Is Groww cheaper than INDmoney for US stocks? ▾
- On brokerage above $1,000 per trade: yes — Groww's 0.1% beats INDmoney's 0.25%. Below $1,000, Groww's $1 minimum makes it more expensive on small trades. On FX, both have similar markup ranges. INDmoney has a more transparent, tighter stated FX rate.
- Why choose INDmoney over Groww for US stocks? ▾
- INDmoney has three advantages: lot-level ITR-format tax reports (Groww's are standard), OTC/pink-sheet stock access (Groww doesn't have OTC), and a multi-year operating track record vs Groww's October 2026 beta. For RSU holders, neither is ideal — use Rovia.
- Do both Groww and INDmoney use GIFT City? ▾
- Yes. Both use GIFT City IFSC — domestic NEFT/IMPS transfer, no SWIFT. TCS at standard LRS rates applies to both. The Section 10(4D) potential capital gains exemption may apply to both — verify with a CA.
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About the author
Co-Founder & Chief Product Officer, Rovia
IIT Bombay + IIM Calcutta. Founding PM at Aspora (largest NRI fintech). 6+ years covering Indian-resident US investing, LRS compliance, Schedule FA, and ITR-2 filing for AY 2026-27.
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