What if INDmoney shuts down?
In case both INDmoney as well as DriveWealth miraculously shut down, your portfolio can be traced with the companies whose shares you purchased. In this case you may either liquidate your funds entirely or choose another US broker partner apart from Drivewealth to continue trading.
Yes, INDmoney app is totally secured because the security audit has been done by Bishop-Fox an esteemed security agency certified by Google.
INDmoney is 100% safe & secure.
You can cancel your membership anytime through your My Membership page or contact support@indmoney.com. My eMandate setup failed. EMandate registration could fail due to multiple reasons like authentication failure, incorrect login details, premature closure of registration screen, etc.
If the company survives, your shares may, too, or the company may cancel existing shares, making yours worthless. If the company declares Chapter 7, the company is dead, and so are your shares. Owners of common stock often get nothing when a company enters liquidation since they are last in line for payment.
Key Takeaways. If a brokerage fails, another financial firm may agree to buy the firm's assets and accounts will be transferred to the new custodian with little interruption. The government also provides insurance, known as SIPC coverage, on up to $500,000 of securities or $250,000 of cash held at a brokerage firm.
Both Groww and INDMoney are applications that come with strong features serving different purposes. If you wish to invest, track and manage your investments from a single app, INDMoney is the suitable option.
Ashish Kashyap - Founder & CEO - INDmoney.com | LinkedIn.
Its customers are largely in the 25 to 45 age group. “We want to be the financial life engine for people, a super money app for their personal finances. This is why we are also a SEBI-registered investment advisor.
Using the in-app INDCoins rewards, INDMoney users can invest in shares of cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Ripple, Cardano and Uniswap.
Which app is best for US stock market in India?
Vested is probably the best platform for Indians to start investing in the US stock market. We've done a detailed review on Vested, feel free to check it out. It is the first app that made it really easy for Indians to buy US stocks.
- Betterment – Best investment app overall.
- Invstr – Best app for education.
- Acorns – Best app for saving.
- Wealthbase – Best app for trading games and contests.
- Wealthfront – Best app for portfolio management.
- Fidelity Investments – Best app for managing money all-in-one.
INDmoney makes it easy for anyone wanting to start investing in US stocks from India. Our zero-cost structure allows you to start trading without any account opening fees or commission on buying and selling.
Indian investors can invest in the entire stock or even in fractions of these stocks. Indian Investing abroad is regulated by the Reserve Bank of India under the Liberalised Remittance Scheme (LRS). As an Indian national, you are allowed to remit up to $250,000 a year under this scheme.
INDMoney generates operating revenue mainly through advisory fees collected from premium users on its platform and distribution fees collected from the AMCs and mutual funds.
What Happens If a Stock Price Goes to Zero? If a stock's price falls all the way to zero, shareholders end up with worthless holdings. Once a stock falls below a certain threshold, stock exchanges will delist those shares.
Your mutual fund investments reside at asset management companies (AMCs). Therefore, if theoretically, Groww shuts down, your mutual funds are safe at the AMC.
so If something Happens To Zerodha You can Claim from their. Basically, the governing body SEBI ensures that the client who has invested/deposited money with the broker does not stand to lose if the broker screws up. This holds good only in cases of fraud, counter party insolvency etc.
Vested is preferable if you are not planning small and short-term withdrawals. INDmoney is preferred if you plan to trade extensively and want frequent withdrawals.
Its customers are largely in the 25 to 45 age group. “We want to be the financial life engine for people, a super money app for their personal finances. This is why we are also a SEBI-registered investment advisor.
How does INDMoney make money?
INDMoney generates operating revenue mainly through advisory fees collected from premium users on its platform and distribution fees collected from the AMCs and mutual funds.
Dividends. Dividends are taxed at source at a rate of 25%. So the money you receive in your US stock account as a result of dividend payment will be post deduction of tax. You can however offset this tax deducted in your yearly income tax filings in India and get a full credit of the same.
