I'm looking to diversify a bit and the Indian markets sound interesting. I don't HL deal much with them, though, so I'm looking for the best online broker where I can still use an ISA and SIPP.
Does anyone have experience dealing with Indian stocks and any advice regarding UK based brokers? That said, any advice about Indian stocks in general would be very welcome.
I personally would not buy direct- if it is possible. I have a feeling there may be rules about overseas investors- but there are some India brokers who publish research online so i would contact them. I would invest re an ETF or Investment Trust. I hold India Capital Growth Fund (LON:IGC) and Ashoka India Equity Investment Trust (LON:AIE) .
The managers of IGC are very approachable in my experience if one has questions re the portfolio, have online presentations and are based in India.
Buying direct-if you can- might mean you get caught up in some of the froth that can happen in the Indian market due to the large cash inflows being seen at the moment.
I don't think any UK broker deals direct, think you have to go through an Indian broker. You could try Interactive Brokers (NSQ:IBKR) who are a US broker but they do have ISAs. I only have India Capital Growth Fund (LON:IGC).
Interactive Brokers doesn't allow for the purchase of Indian Equities. No western brokers does as far as I know.
The big, global Chinese companies obviously have US listed Adrs.It's interesting as i can't think of any Indian Adrs.Maybe they feel they don't/never needed US capital to expand.I think it's difficult for foreigners to buy indian property if they wish too (possibly a good idea here).The indian markets still seems pretty closed off afaik but there could be enough local investors eventually to create a great market by themselves.
Actually i just checked there are a few US listed indian Adrs.And done a quick check and you can purchase all the top 5 list on hargreaves.
