Investing in NASDAQ stocks isn’t easy for people outside of the U.S. You need to go through a lot of processes to start trading.
Especially for Indians, you need to deal with multiple legal and taxation related complications.
There’s a lot of people on Quora asking questions like:
- How can a foreigner invest in US stocks?
- Stock Market: Can Indians buy NYSE stocks?
- What is the best way to invest in US stocks from India?
- How to trade US stock market from India?
Ideally, you’ve to open a brokerage account with a U.S. broker (Kotak Securities, ICICI Direct, India Infoline, Reliance Money, and Religare, etc.)
Not to mention the minimum amount required to open an account with these brokers. Plus you’ve to deal with their transaction charges.
Altogether, It’s quite a pain in the a** if you plan to start trading on NASDAQ stock market from India. It’s about time to ignore conventional method!
Here’s a top-notch solution! It’s called “Hox.”
With Hox, you can now invest in Top US companies like Tesla, Google, Facebook, Amazon, Nvidia, Microsoft, Apple, Netflix from India through your resident IMPS/UPI/Paytm accounts.
The company is registered as GASTTER GROUP LIMITED in New Zealand and obtained its Securities Exchange License from New Zealand Stock Exchange on August 30, 2018.
Using this platform, you can open an international stock trading account in under 5 minutes with 0 threshold fees.
Note that Hox works on Tether cryptocurrency. Meaning, you’ve to convert your Fiat to USDT to trade. Which is a simple enough process if you have got an account on WazirX.
Tether USD (also known as USDT) is a cryptocurrency issued by Tether Limited, whose value is backed by a stable currency: the US dollar.
How to buy USDT in India?
Use WazirX, one of the most trusted and cheapest places to buy, sell, and trade cryptocurrencies in India.
Create an account on WazirX today and verify it to get started with Hox.
Once you’ve created an account, go ahead and purchase some USDT via peer to peer exchange platform.
What is WazirX P2P?
WazirX peer to peer exchange is a legal answer to RBI’s deadline on Cryptocurrency trading in India.
With WazirX P2P, a buyer and seller can buy and sell Tether (USDT) for INR directly with each other.
So, WazirX is the best choice for Indians who want to trade US stocks on Hox. Read this blog post by Naimish Sanghvi to get a gist of WazirX P2P.
Own USDT? Let’s Invest in The US Stock Market
Once you own USDT in your wallet, you could visit hox.com and start trading US (and Hong Kong) stocks.
Setting up an account pretty much straight forward. Visit this link to get started.
As shown in the screenshot, you can either register via email or mobile; it’s your choice. Hox.com will send you an email/text message to verify the new account. Here’s an example email:
You’ve to deposit USDT to your Hox to start trading. You can easily transfer WazirX USDT assets to Hox’ “Deposit Address,” these assets can be used to purchase/sell stocks.
Buying American Stocks From India
1. Visit hox.com.
2. Navigate to the Trade section https://hox.com/transaction/
3. Enter the stock ticker of the company.
4. Set purchase price and quantity (simple as that.)
5. Click Buy
6. Visit https://hox.com/asset
Note: If it’s your first time trading on Hox, the system will ask you to verify your phone number before purchase.
Here’s how the process looks like on iOS:
So, what are you waiting for? Give it a try!
Due to the character of trading financial products it’s important to choose your investment strategy carefully. Ensure that you are fully aware of the risks using an online trading platform such as Hox.com.