Does Stockal have the necessary approvals from the respective foreign stock exchanges, foreign regulators, RBI and SEBI to provide brokerage services in India?
Yes, Stockal is a SEBI-regulated advisory entity in India that provides investor support, communication, and data maintenance.
Stockal's foreign brokerage partner DriveWealth has the necessary approvals and licenses from the US regulatory bodies:
This allows them to onboard customers from most countries all over the world, including India.
RBI compliance is managed by Indian banks. Under the LRS Purpose Code S0001, Indian banks have Authorised Dealer (AD) licenses to remit money from an investor's bank account to their US brokerage account.
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