8 Best INDmoney Alternatives

INDmoney is a popular app that lets you manage your accounts, invest in the US stock market, and access other financial services.

However, like with any app, it may not be suitable for all users. If you’re looking for an alternative to INDmoney, you have plenty of choices.

There’s an app for every need. From investment possibilities to services to user experience, you’ll find one that matches your needs.

In this post, we’ll look at some of the top INDmoney alternatives and highlight the characteristics that set them apart.

So, whether you’re an experienced investor or new to personal finance, we’ve got you covered.

Vested

Darwin Arifin, Eric Huynh, Viram Shah, and Yinghan Lin established the mission-driven investing platform Vested in 2018. Vested wants to empower people by giving them access to the US equity market as an SEC-registered investment adviser. The company distinguishes itself from other companies in the sector with its focus on empowering clients and streamlining the investing process.

With Vested, you can confidently make market investments and take charge of your financial destiny. Whether you’re a novice investor or a seasoned pro, Vested has the knowledge and tools you need to attain your financial objectives.

Features

• Utility bill payments and airtime/data purchases can be made on Vested
• Transfer money to other accounts and plan money goals with multiple people
• No restrictions on withdrawals and fractional share investing options available
• Automatic recurring investments and account protection through SIPC and FDIC insurance
• A one-time account setup fee of ₹399 applies, with no additional cost for buying and selling stocks or ETFs
• Advanced research tools and pre-made portfolio options (Vests) are available
• 256-bit encryption and SSL for security, with no minimum balance requirement.

Kuvera

Kuvera is an innovative digital wealth management platform founded by Gaurav Rastogi in October 2017. Based in Bengaluru, KarnATA, the company is a one-stop shop for all your investment needs. Kuvera helps people with financial decisions by helping them select the best mutual funds, plan for their goals, optimize their taxes, or rebalance their portfolios.

With its AI technology, Kuvera caters to affluent and mature investors who want to take control of their financial futures. With its user-friendly interface and expert guidance, Kuvera is the perfect choice for those looking to grow their wealth in today’s fast-paced financial landscape.

Features

• Invest in a wide range of stocks and ETFs with no commission fees, (other costs such as wire and FX conversion may still apply)
• Accounts are held with maximum security of $500,000 and can be opened with as little as $10
• Gain access to a capital gains report at the end of the year to track your investments
• Kuvera offers a loyalty program called Coins, which rewards users for making financially responsible choices and can be used to unlock advanced features like Family Accounts, Trade-Smart, and Tax Harvesting
• Create multiple accounts under the same login for yourself and your family members, and easily manage all investments
• Consolidate and track your entire Mutual Fund portfolio with the highest level of privacy protection
• Transfer money easily and securely with Kuvera’s platform.

Webull

Webull is a digital investing platform for worldwide investors launched in 2017 by Wang Anquan, a former employee of Alibaba Group. With real-time market data and strong tools at their disposal, users may effortlessly watch and analyze financial markets while developing investing plans.

Stocks, ETFs, options, cryptocurrency, and fractional shares are among the trading choices available on the site.

Webull also provides investment education services to help people make educated selections. Webull is completely compliant with local rules and has a user base in over 180 countries, guaranteeing a secure and trusted platform for investors. Take control of your assets and explore the financial markets with ease with Webull.

Features

• Commission-free trading on thousands of stocks and ETFs with no deposit minimums required.
• Investment opportunities in both domestic and foreign companies, including the ability to purchase fractional shares.
• Advanced charting and technical analysis tools, including multiple indicators and Level 2 Quotes (Nasdaq TotalView), to aid in investment decision-making.
• 24/7 customer support to guide users through the platform and answer any questions.
• Access to traditional, Roth, and rollover IRAs, as well as an active community for connecting and discussing with other investors.

Cubewealth

Cubewealth, founded with the goal of making finance accessible and simple for busy professionals, has swiftly established itself as a trustworthy financial advisor. The organization uses technology and a staff of skilled mutual fund advisers and financial counselors to find the best investment opportunities for clients.

Their objective of simplifying money for busy professionals has benefited many people in gaining control of their financial destinies. Cubewealth is ideal for people who wish to invest in the greatest possibilities but lack the time or skills to do their own study.

Features

• Cubewealth offers personalized investment guidance through regular interactions with subscribers
• Offers assistance in choosing a brokerage and understanding companies
• Provides fresh investment ideas and analysis every month
• Maintains an unbiased approach with no ties to brokers
• Simple and user-friendly app
• Provides a wide range of educational and informative materials such as stock research, quarterly reports, trade updates, and investment guides.

Stockal

Stockal is an innovative investment platform launched in February 2016 by a group of seasoned finance experts. Stockal, led by Rajan K Natarajan, Sitashwa Srivastava, and Vinay Bharathwaj, is focused on making global investing easier for busy professionals.

The Stockal team has 40 years of experience helping clients with foreign investments. They’re used by leading brokerage firms, wealth management businesses, and robo-advisors, servicing thousands of investors daily. Stockal is the ideal instrument for globalizing your investments and savings, whether you want to diversify your portfolio or save for the future.

Features

• Stockal offers unique trading features such as cash management and thematic ETFs for domestic investors looking to invest in the US stock market
• The primary Stockal account combines the functionality of a trading, Demat, and bank account, allowing users to hold equities and invest in other customized Stockal products
• No account opening charges with a commission of 5 cents per share on the ‘Global’ membership and 1 cent per share on the ‘Global Plus’ membership
• Stockal offers live chat, telephone, and email support.
• Allows you to invest in fractional shares with no limit on the minimum number of shares.

Winvesta

Winvesta, founded in 2019 by Swastik Nigam and Prateek Jain, is a fintech company that makes it easy to invest and trade across borders for individuals and businesses. The platform is built and managed by a team of experienced professionals with over a decade of experience in global financial markets.

The company prides itself on providing a secure and compliant platform for its users. Additionally, Winvesta has a board of advisors composed of leading minds in law and finance. The company and its partners are fully registered and regulated with the FCA in the UK and FINRA and SEC in the US.

Features

• Winvesta offers access to the US market through popular exchanges like the NYSE and NASDAQ
• Users can invest in a wide range of equities, ETFs, and ADRs that are compliant with Indian regulations
• Investing can only be done through the mobile app, available on both iOS and Android
• The app includes a user-friendly interface, news and updates on portfolio companies, and price target updates on stocks
• Get unlimited trades with no charge for the first month, with a maximum of 3 trades per month afterward with a fee of $1 per trade.
• Allows for fractional investing, allowing users to invest as little as $1 in a specific stock or company.

ICICI Direct

A division of ICICI Bank, ICICI Direct is a renowned investing platform that offers access to the world’s most successful markets. Investors may diversify their portfolios and look for fresh chances thanks to the vast selection of assets available.

For customers wishing to broaden their investment horizons, ICICI Direct also provides over 80 curated portfolios managed by knowledgeable international fund managers.

With roots going back to 1995, ICICI Direct has established a history of providing outstanding service and growing its clientele. ICICI Direct is a great tool for maintaining and building your money, whether you’re an experienced investor or just starting.

Features

• ICICI Direct offers curated baskets of stocks and ETFs for investment, selected by their research team
• A quick and efficient process for selling stocks and receiving funds, with no additional costs
• Customizable alerts and in-depth analysis of individual stocks to aid in informed investment decisions
• Convenient online account opening with no need for physical documents
• Opportunity to invest in fractional shares in the US markets
• Accounts are protected in the event of bankruptcy, and additionally insured by the Securities and Investment Protection Council
• Available with zero subscription and brokerage fees.

Groww

Groww was founded in 2017 by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh.

The company started as a direct mutual fund distribution platform and quickly gained popularity among investors in India. In response to user demand, Groww expanded its offerings to include stocks, digital gold, ETFs, intraday trading, and IPOs.

Now, the platform has over 1.5 crore users in 900+ cities in India. They’re a trusted choice for investment. The founders want to simplify financial systems for new-age investors and make it easy to invest and grow wealth.

Features

• The ability to invest in fractional shares, allowing users to purchase as little as 0.0001 of a stock
• A USD investment wallet to track investments in foreign markets
• Streamlined funding options through partnerships with Axis Bank and other banks
• Brokerage services are managed by Viewtrade Securities and trade clearing and custodial services are provided by Apex Clearing Corporation
• SmartSave feature, allowing users to earn higher returns on their savings
• Mutual fund comparison and portfolio-building tools tailored to individual risk tolerance and profitability preferences
• Dedicated customer helpdesk for quick resolution of queries or complaints
• No additional costs for regular investments in US stocks, but fees may apply for miscellaneous services. (Click here to know about their various services)

INDmoney has held the top spot in the market for some time, but its not-so-stellar customer support has made room for other players in the market. While each app offers unique features, we’ve selected Vested and Stockal as the most user-friendly alternatives to INDmoney. Instead of listing three options like in many of our articles, we’ve narrowed it down to just two to help you make a clearer choice. Let’s delve into the pros and cons of each to help you make an informed decision.

Vested: A Closer Look

Pros of Vested:

• Seamless execution of buying and selling US stocks
• Good back-end support from professionals
• The joint money management feature is very useful
• Smooth transfer of funds in and out of Indian bank accounts

Cons of Vested:

• App design falls short
• Not everyone prefers a mobile app
• Limited asset options (e.g. no IPOs or cryptocurrencies)

Stockal: A Closer Look

Pros of Stockal:

• Personalized customer service is available via phone for added convenience
• Intuitive interface that is easy to navigate
• The “Stacks” feature provides valuable research for informed investing decisions
• Enhanced security measures with biometric login options

Cons of Stockal:

• Limited ability to cancel pending orders through the app
• Reports of repetitive login issues and subpar customer support
• Hidden currency conversion fees have been reported by users

Final Verdict

Several worthy competitors in areas like money management and stock investing have challenged Indmoney’s market dominance, specifically. Each app offers a special mix of features and benefits. Vested, however, stands out as the finest alternative to INDmoney regarding overall ease.

The software is powerful because it buys and sells US stocks well, has a cutting-edge money management tool, and provides expert assistance on the backend. Vested’s advantages over other applications include combining several aspects of personal finance under a single roof.

Vested is the way to go if you’re seeking a comprehensive solution for handling your finances and investing in the US stock market