INDmoney review
Independent review of INDmoney — brokerage, app, account opening, customer support and the kind of investor it actually fits. INDmoney is a SEBI-registered discount broker for Indian stocks (and a US-stocks aggregator on a separate product).
Verdict
Investors who want a single app for Indian stocks, US stocks, zero-commission direct mutual funds and overall net-worth tracking.
Brokerage at a glance
Headline brokerage on the default INDmoney standard plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About INDmoney
INDmoney is a SEBI-registered discount broker for Indian stocks (and a US-stocks aggregator on a separate product). For Indian equities, delivery and intraday are charged at flat ₹20 per executed order or 0.1% of turnover (whichever is lower), subject to a ₹2 per-order minimum; futures and options are a flat ₹20 per executed order.
The INDmoney trading app
- Open a free demat account and invest in Indian stocks, ETFs and IPOs
- Invest in 9,000+ US stocks and ETFs, including fractional shares
- Futures and Options trading with charts, option chains and one-click order placement
- Direct mutual funds and SIPs in stocks, ETFs and funds
- Net worth tracking across bank accounts, credit cards and investments
- UPI-based fund transfer and bill payments
Opening an INDmoney account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at www.indmoney.com.
Customer support
INDmoney support is available mon-fri, 9am-6pm (indstocks client servicing). For complete contact details, the four-level SEBI escalation path (broker desk → compliance officer → SCORES → SMART ODR), and what to have ready before escalating, see the INDmoney customer care page.
Pros and cons
How we judge this: these pros and cons are drawn from INDmoney’s published charges and platform features, its app-store ratings — cross-checked against its SEBI registration and NSE / BSE membership. They are our editorial assessment, not a sponsored placement, and not financial advice.
What users say about INDmoney
Paraphrased themes from public app-store reviews and forums — these are users’ opinions, not our testing, and not financial advice. Sampled 2026-06-14.
- All-in-one app covering Indian stocks, US stocks, mutual funds, IPOs, FDs and NPS with net-worth tracking.
- Fractional US-stock investing across thousands of US-listed stocks and ETFs.
- Zero-commission direct mutual funds with SIPs from as low as ₹100.
- Flat ₹20-per-order F&O brokerage and zero account opening/maintenance charges.
- Custom watchlists, price alerts and SIP automation with UPI Autopay.
- Some users report delays in funds reflecting after US-stock withdrawals/transfers.
- Some users describe occasional app stability or bugginess issues.
- Some users feel customer-support responses can be slow or generic.
Alternatives to INDmoney
By active client count, INDmoney is the #12 largest of 38 retail brokers on the NSE (as of 2026-04-30). If you're weighing it against the field, these are the brokers people most often compare it with:
See the full ranked list of every retail broker in India on the stock brokers in India page, or compare exact landed cost on a typical trade with the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about INDmoney.
INDmoney is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Investors who want a single app for Indian stocks, US stocks, zero-commission direct mutual funds and overall net-worth tracking.
Equity delivery is ₹20 / 0.1% (min ₹2). Equity intraday is ₹20 / 0.1% (min ₹2). Equity options is Flat ₹20. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
INDmoney is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
Open a free demat account and invest in Indian stocks, ETFs and IPOs. Invest in 9,000+ US stocks and ETFs, including fractional shares. For a full feature list and download links see the INDmoney app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://www.indmoney.com.
Discount brokers comparable to INDmoney include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.