Geojit Financial Services on Thursday launched a global investment platform that will allow its customers to invest in the US markets and diverse global assets through a single account from anywhere in the world.
The Kochi-headquartered brokerage firm has partnered with New York-based global wealth management services platform Stockal to develop the AI-powered global investment platform which helps investors diversify their portfolio by investing in international equities.
The brokerage firm said that global assets have been in great demand in the country for the last 12 months. “Since the beginning of 2020, thousands of Indian retail investors have invested over Rs 350 crores in overseas markets,” it said in a statement.
Geojit expects the new platform will benefit over 10 lakh of its customers as well as other Indian retail investors, high-networth investors, ex-NRIs and expat IT professionals who want to invest in global assets.
The new platform presently offers investment options in the US stock market and will soon be adding other key global markets such as the UK, Japan, Hong Kong, Germany and Singapore, the brokerage firm said.
Geojit claimed that it offers the lowest price offerings for trading with no minimum amount balance and low commissions as well as BPS-based pricing for high AUM wealth investors and traders. “So, buying or selling shares of popular US stocks like Google, Apple, Amazon, Netflix, etc. becomes extremely convenient on the Geojit global investment platform,” the company said.
At present, Geojit offers services in over 4,000 stocks and ETFs. In addition, it offers its clients facilities like digital on-boarding with e-KYC, proprietary tools and algorithms which process 8.5 million data points to help investors make informed decisions, and more.
The brokerage firm has also tied up with three banks in India to facilitate online fund remittance through liberalised remittance scheme.
Commenting on the launch of the new global investing platform, Geojit Financial Services’ Executive Director Satish Menon said, “At present, the investors are showing strong intent to spread risk and expand equity investment horizon across geographies. There has been a substantial increase in demand from HNWIs, retail investors and those who track global equity investment markets for investing in global equities. Our AI-enabled and insights-driven global investment platform will help them explore investment opportunities in well-regulated markets and build risk-adjusted global investment portfolio. With us, investing in global market becomes as effortless as investing locally.”
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