ICICIdirect enables Indian customers to invest in five new Global markets

By Leandra Monteiro

ICICIdirect, a virtual financial supermarket offering investment, protection, and loan products, announced the expansion of its Global Investments facility to newer markets such as the United Kingdom, Japan, Germany, and Singapore. ICICIdirect’s Global Investment customers can trade in securities in these markets, in addition to the US.

This facility is offered in association with Interactive Brokers LLC, a United States-based online brokerage firm with multi-asset and multi geography trading capabilities. The entire customer journey, from on-boarding to buying and selling of securities, is done digitally.

“Since the encouraging response to our Global Investment facility for the US markets in August 2020, customers have been demanding for other markets too. We are happy to launch five new markets on the platform, with which our 5.5+ million customers can now avail of investment opportunities in these matured and well regulated market, and also further de-risk their portfolio from geography concentration point of view,” said Mr. Anupam Guha, Head – Private Wealth Management, ICICI Securities.

Investors can participate in the opportunity through the Liberalised Remittance Scheme (LRS), and can now also invest across stocks, Exchange Traded Funds (ETFs), Mutual Funds (non-US) and fixed income products upto $250,000 per annum. Some of these markets, such as the US, offer advantages like, no minimum ticket size and fractional ownership of shares, so that even small retail investors can build a portfolio effectively. ICICIdirect account holders can digitally open the account through the icicidirect website and choose from the available subscription plans depending on their trading and market preference.