Alankit Imaginations, a subsidiary of e-governance service provider Alankit Ltd, on Tuesday unveiled a new service that would allow Indians to start investing and trading in multiple global markets starting with the US.
The new service, World Investing, is being offered in association with Stockal, a global investment platform that helps people invest in a diverse set of global assets across the world.
Users can open a brokerage account online in just 5-7 minutes and with fractional share investing as a feature, investors can buy as little as $5 or $10 of a stock in a single trade, the company said.
Less than one full share of equity is called a fractional share. Such shares may be the result of stock splits or similar corporate actions.
Elaborating on the new service, Alankit Managing Director Ankit Agarwal said there are multiple benefits to it.
“First, you get access to the US market, which was restricted or limited. Secondly, all your investments are in US dollar and whatever money you invest can be used as the investor is issued a debit card and he/she can use that debit card to pay off expenses and save on currency conversions, when you repatriate your profits back to India,” he said.
The Alankit platform is fuelled by artificial intelligence and enables automated research functioning, portfolio tracking and personalised stock advice, a company statement said.
An AI-enabled platform curates tailored investing ideas and insights, automates portfolio monitoring and executes the trade.
Sitashwa Srivastava, Founder & CEO of Stockal said, “We have experienced a surge in demand for US investing and international diversification from Indian investors — especially in the last 3 months”.
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Published on
June 16, 2020
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