Vested vs INDmoney: 2026 comparison for Indian residents
Vested and INDmoney share the same architectural pattern. The differentiators are catalog breadth, tax-report depth, and a small FX delta.
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
Vested
Founded 2018 · Bengaluru
INDmoney
Founded 2019 · Gurugram
| Brokerage | |
| 0.25% per trade | 0.25% per trade |
| FX markup | |
| ~75–100 paise per USD | ~50–80 paise per USD |
| Account minimum | |
| $1 (fractional buys) | $0 (fractional buys) |
| Fractional shares | |
| Yes | Yes |
| Tax docs | |
| INR P&L statement, Schedule FA helper, capital gains breakdown — all India-friendly formats. | ITR-format reports with dividend breakdowns and lot-level capital gains; Schedule FA helper included. |
| ACATS from US employer brokers | |
| Supported via DriveWealth — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. | Supported via Alpaca and DriveWealth — covers Fidelity, E*TRADE, Schwab, Morgan Stanley. |
Best fit for
Investors new to US markets who want a paved-road onboarding
Best fit for
Investors who want Indian + US assets in a single app
Information compiled from public sources · NOT verified by the brokers · Last reviewed: June 2026
vested.blog/compare/vested-vs-indmoney
How Vested and INDmoney compare
Both are SEBI-registered Indian platforms that route through US clearing brokers. Both give you the full NYSE/NASDAQ universe of stocks and ETFs, fractional shares, INR-format reports, and India-business-hours support. The differences are at the margins: INDmoney adds OTC (pink-sheet) stock access, ITR-format lot-level tax reports, and a slightly tighter FX markup; Vested keeps the product simpler and more focused.
Spec-by-spec
| Dimension | Vested | INDmoney |
|---|---|---|
| Brokerage | 0.25% per trade for equities and ETFs. | 0.25% per trade for equities and ETFs. |
| FX markup | FX markup on the inbound LRS leg is typically 75–100 paise above the live interbank rate; outbound repatriation also carries an FX markup. | Inbound LRS FX markup typically 50–80 paise above the live interbank rate; outbound repatriation also carries an FX markup. |
| Account minimum | $1 (fractional buys) | $0 (fractional buys) |
| Fractional shares | Yes | Yes |
| Asset universe | Full NYSE/NASDAQ universe — all listed US stocks and ETFs including small- and mid-caps. No options, no OTC pink-sheet stocks, no international exchanges. | Full NYSE/NASDAQ stocks and ETFs plus OTC (pink-sheet) stocks — the OTC access is its main breadth edge. No options or international exchanges. |
| RSU / ESPP support | Inbound ACATS supported via DriveWealth. RSUs at Fidelity, E*TRADE, Schwab, and Morgan Stanley can be transferred in. | Inbound ACATS supported via both Alpaca and DriveWealth, covering the major US employer brokers. |
| Tax docs | INR P&L statement, Schedule FA helper, capital gains breakdown — all India-friendly formats. | ITR-format reports with dividend breakdowns and lot-level capital gains; Schedule FA helper included. |
| W-8BEN handling | Handled at signup; 3-year renewal automated. | Handled at signup; 3-year renewal automated. |
| Customer support | India-based, in-app chat, English/Hindi, IST hours. | India-based, multi-channel, IST hours. |
| Account safety | Shares held at DriveWealth (FINRA-regulated, US clearing broker); SIPC insurance up to $500k per account. | Shares held at Alpaca or DriveWealth depending on routing (both FINRA-regulated); SIPC insurance up to $500k per account. |
| ACATS-in | Supported via DriveWealth — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. | Supported via Alpaca and DriveWealth — covers Fidelity, E*TRADE, Schwab, Morgan Stanley. |
| Repatriation | 3–7 business days; FX markup applies on the outbound leg as well as the inbound leg. | 3–7 business days; FX markup applies on both inbound and outbound legs. |
| US partner broker | VF Securities, Inc. (introducing); DriveWealth (clearing & custody) | Alpaca Securities; DriveWealth |
| Regulation | SEBI-registered in India; underlying broker is FINRA/SIPC member in the US | SEBI-registered in India; underlying brokers are FINRA/SIPC members in the US |
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 Vested if
- •You want a focused US-investing app without the broader Indian-asset surface area
- •You're already on Vested and the marginal differences don't justify a switch
- •You don't specifically need OTC pink-sheet stocks
Pick INDmoney if
- •You want Indian + US assets in a single app
- •You specifically need OTC (pink-sheet) US stock access
- •You value lot-level ITR-format tax reports as a built-in feature
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.
Vested — constraints to factor in
- ·FX markup is higher than IBKR in absolute paise terms
- ·No OTC (pink-sheet) stocks or international exchange access
- ·No options or futures
INDmoney — constraints to factor in
- ·FX markup is higher than IBKR in absolute paise terms
- ·No options or international exchange access
- ·Broader retail product means RSU-specific tooling is less specialized than a dedicated RSU platform
FAQ
- Is Vested better than INDmoney?
- Neither platform is universally better. Vested SEBI-registered Indian platform with India-friendly tax docs and a clean full-universe US-investing product. INDmoney SEBI-registered all-in-one Indian + US wealth app with the widest US-stock catalog among the Indian-aware platforms. 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 Vested and INDmoney?
- Vested: ~75–100 paise per USD. INDmoney: ~50–80 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 Vested or INDmoney?
- Vested: Supported via DriveWealth — Fidelity, E*TRADE, Schwab, Morgan Stanley RSUs can be transferred in. INDmoney: Supported via Alpaca and DriveWealth — covers Fidelity, E*TRADE, Schwab, Morgan Stanley.
- Are both brokers regulated and safe?
- Yes. Vested: Shares held at DriveWealth (FINRA-regulated, US clearing broker); SIPC insurance up to $500k per account. INDmoney: Shares held at Alpaca or DriveWealth depending on routing (both FINRA-regulated); SIPC insurance up to $500k per account. For most Indian retail accounts under $500k, the standard SIPC coverage is plenty.
- Do both platforms handle Schedule FA reporting?
- Vested: INR P&L statement, Schedule FA helper, capital gains breakdown — all India-friendly formats. INDmoney: ITR-format reports with dividend breakdowns and lot-level capital gains; Schedule FA helper included. 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.