Investing from India

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1

Hello Trading212 folks !

Hoping to get answers to my below queries regarding investing in this platform from India .

What are the modes supported for depositing money ?
Can we deposit money using Google Pay ?
If we have USD as the base currency , will trading 212 charge a conversion fee considering the amount will be deposited in Indian Rupee ( INR ) ?
Are there any currency conversion fee levied either by trading212 or the bank during the withdrawal ?
What is the with-holding tax levied on dividends from US stocks considering we have w8BEN form applied ?

Thanks in advance .
Regards,
Siran

2

T212 doesn’t have any FX fees in Invest account. Also no fees on any payment and withdrawal menthods.

And yes you can use Google Pay for deposits, also for withdrawals.

For CFD, I read somewhere they charge .5% FX fees when you close a position, but I think that’s no longer the case.

Please confirm.

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However please note. If you use standard bank debit card or CC which has INR as base currency, your bank/issuer will do the FX from INR to USD, which could lead to some serious FX fees.

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4

yep, I’m an Indian in UK. I’d seriously recommend opening an account with transferwise or something to fund t212 investing. Indian banks will charge a tonne of fees. it’s not as rosy as it is outside India currently unfortunately.

5

To invest in indian stocks using Trading212,
There are 2 ETF’s in ISA/Invest account and some ADR shares in Invest platform.
GBP can be transferred to your account and Trading212 automatically purchase/sell in USD, nothing to worry about Fx, etc.,

ETFs: (These are like mutual funds)
iShares MSCI India (ISIN: IE00BZCQB185) (Holding Details)
Lyxor MSCI India (ISIN: FR0010361683) Index information

ADR (American Depository Receipt) Shares: (USD Designated and traded in US)
Azure Power Global
Dr. Reddy’s Laboratories
Eros STX Global
HDFC Bank
ICICI Bank
Infosys
MakeMyTrip
Sify Technologies
Tata Motors
Vedanta
Wipro
Yatra Online
WNS (Holdings)

There are some GDR’s (Global Depository Receipt) available in London Stock Exchange (like Reliance, GAIL, etc.,) and Trading212 might add them soon.

If you want to buy directly in india as a NRI, you need to open Indian trading account with firms like Zerodha, UpStock, Interactive Brockers, etc., which is a very long and tedious process with hell lot of documentation including documents attestation from embassy.

Let me know if you need more info.

1 Like
6

I’m not clear, if you are already in the UK, you could open an account in GBP and deposit in GBP.
Not sure why a base currency of USD is required.

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just speaking from experience buddy. i had my brother open an account and we were facing the same issue.

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I thought so … Would have been great if trading212 supported INR as base currency . Around 2% of the country’s population are investing in equity markets which would be ~25 million people . And the only way they have exposure to global markets is via local mutual funds because of the hefty FX fee the banks charge while depositing/withdrawing from other currencies .
A multicurrency account would also be a handy option to have for these scenarios .
Just imagine even if 5-10 million people start using this platform if it supports a multicurrency account or INR as base currency to avoid FX charge . The kind of user base this platform would have .
I am currently residing in Europe so dont have to face all these struggle to invest my own hard earned money into global markets .
Unfortunately , I would have to withdraw everything and close down the account if and when i have to move back to India .

9

Thanks for this! I’ve been looking into Tata and Infosys for some time, should help with some geographical diversification in my pie :smiley:

1 Like