ET Money vs INDmoney in 2026: Charges, safety and features compared

ET Money is a mutual fund and advisory app with a SEBI research analyst licence. INDmoney is a stock broker that also offers US equity. Both apps track your net worth by reading your SMS data, but INDmoney requests extra permissions to read your contacts and calendar.

By Qrates research desk · 2026-10-27

ET Money is a mutual fund and advisory app with an average recent rating of 3.48, while INDmoney is a broader stock broking app averaging 3.74 (Qrates directory). You can check the latest figures on the ET Money Qrates page and the INDmoney Qrates page to verify their SEBI licences, exact phone permissions and user complaints before installing either app.

Quick answer: ET Money vs INDmoney

ET Money operates under a SEBI research analyst licence and focuses on direct mutual funds and portfolio advisory. INDmoney operates under a SEBI stock broker licence and offers direct mutual funds, Indian stocks and US equity. Both apps track your net worth by reading your SMS data, but INDmoney requests additional phone permissions to read your contacts and calendar. If you are interested in how other platforms compare, you can explore our stock broking and trading apps directory.

At a glance: Licences, permissions and complaints

Here is how the two apps compare on regulatory standing, data access and user feedback.

Feature	ET Money	INDmoney
Primary SEBI licence	Research analyst (INH000015640)	Stock broker (INZ000305337)
Phone permissions	SMS, location, phone identity, audio	SMS, location, phone identity, audio, contacts, calendar
Recent 90-day rating	3.48	3.74
Top user complaint	Nobody answers (12 of 342 reviews)	Pushed into things (5 of 393 reviews)

ET Money is published by Banayantree Services Limited and holds a SEBI research analyst licence (Qrates directory). INDmoney is published by INDmoney Tech Private Limited, and its broking services run through INDstocks Private Limited, which holds a SEBI stock broker licence and a depository participant registration (Qrates directory). For a broader look at the industry, you can compare money apps side by side to understand the landscape.

In recent 90-day reviews, INDmoney averages 3.74, and it replies to 100% of one and two-star reviews (Qrates directory). ET Money averages 3.48 and replies to 97% of its critical reviews. The most raised problem for ET Money is that nobody answers, appearing in 12 of 342 Google Play reviews read, while INDmoney users mostly complain about being pushed into things, noted in 5 of 393 reviews (Qrates directory).

Investment options: Mutual funds, Indian stocks and US equity

The main difference between the two apps lies in what you can buy through them.

Direct mutual funds

Both apps allow you to invest in direct mutual funds. Direct mutual fund plans have a zero commission component under the rules (sebi.gov.in). Neither ET Money nor INDmoney charges a transaction fee for buying or selling mutual funds (etmoney.com, indmoney.com). You can find more options in our list of mutual fund and wealth apps.

Indian stocks and demat accounts

INDmoney allows you to buy and sell Indian stocks directly on its platform. Because it is a registered stock broker, using this feature requires opening a demat account with them (indmoney.com). INDmoney charges zero account opening and annual maintenance fees for this demat account (indmoney.com).

ET Money does not offer direct equity trading or open demat accounts itself. If you want to buy stocks through ET Money, the app routes you to third-party brokers to place your orders (etmoney.com).

US stock investing

INDmoney offers a route to buy fractional shares of US companies. Buying US stocks through INDmoney involves foreign exchange markup fees and money transfer charges (indmoney.com). ET Money does not offer US stock trading.

Portfolio tracking and advisory features

Both apps offer portfolio tracking tools that consolidate your mutual funds, stocks and bank balances into one dashboard.

ET Money provides a paid robo-advisory service called ET Money Genius (etmoney.com). The company uses its SEBI research analyst licence to suggest asset allocation and build custom portfolios for paying users.

INDmoney focuses heavily on automated net worth tracking across multiple asset classes. This includes tracking real estate, provident funds and external stock holdings alongside the investments you make through the app itself.

Phone permissions and data privacy

Both apps require permission to read your text messages. They use this access to track your expenses, bank balances and investments automatically (etmoney.com).

INDmoney requests permission to read your contacts and your calendar (indmoney.com). ET Money does not ask for access to your contacts or your calendar (Qrates directory).

Both apps request access to see your location, read your phone identity and record audio on Google Play (Qrates directory).

Who each one suits, by need

If buying US stocks and Indian shares matters to you, note that INDmoney holds a stock broker licence and offers these assets. If you are curious about other providers, you can read our Groww vs Pocket Broker comparison for more context on stock broking.

If you only want to invest in mutual funds and get portfolio advice without opening a demat account, note that ET Money operates as a research analyst and does not open demat accounts.

If limiting phone data access matters to you, note that INDmoney requires contact and calendar permissions while ET Money does not.

FAQs

Is INDmoney safe for mutual funds?

INDmoney is regulated to offer investment services. Its entity INDstocks Private Limited holds a SEBI stock broker licence (INZ000305337) and a depository participant registration (IN-DP-690-2022) (Qrates directory).

Can I track my mutual fund portfolio on ET Money?

Yes, ET Money offers a portfolio tracking feature. The app requests permission to read your text messages to automatically track your investments and bank balances.

What are the charges for buying US stocks on INDmoney?

INDmoney applies foreign exchange markup fees when you convert rupees to dollars. You will also pay money transfer charges when funding your US brokerage account (indmoney.com).

How does ET Money make money if mutual funds are free?

ET Money does not charge transaction fees for direct mutual funds. It generates revenue by selling a paid robo-advisory service called ET Money Genius, which offers custom portfolio suggestions (etmoney.com).

Is INDmoney SEBI registered?

Yes, INDmoney operates under SEBI regulations. Its broking arm holds SEBI stock broker licence INZ000305337 and depository participant registration IN-DP-690-2022 (sebi.gov.in).

The short version

ET Money is a mutual fund and advisory app that asks for fewer phone permissions.
INDmoney is a broader stock broking app that includes US equity but asks to read your contacts and calendar.
Both apps offer direct mutual funds with zero transaction fees.
Both apps offer automated portfolio tracking by reading your SMS data.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation.