SIC Global launches Stockal, India’s first mobile-based platform for global investments

MUMBAI: SIC Global, a Bangalore based brokerage to launch, India’s first mobile-based platform to facilitate global investments for domestic retail investors. The application called Stockal, will provide intelligence for investments on NASDAQ and NYSE listed equities.

Running on the foundation of a proprietary data backend, Stockal aggregates, curates and analyzes information for more than 6000 stocks listed in US from various online sources such as analyst platforms, social media, news websites, blogs and discussion forums. This analysis is converted into signals and indicators that enable efficient decision making.

With this app, retail investor can now hedge their books and portfolio by trading the same stock in global market as ADR.

Under the Liberalized Remittance Scheme, all resident individuals are allowed to freely remit upto $ 2.5 lakhs per financial year for any permissible current or capital account transaction or a combination of both.

Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of schedule III of FEM (CAT) Amendment Rules 2015, within the limit of $ 2.5 lakhs only.