Tradingo offers a zero brokerage plan on delivery-based orders for buying & selling of shares. For intraday trades and all other F&O trades, the flat rate is Rs 20 per order.
Earlier stock trading was a time-consuming process and required a lot of research. One had to see the amount required to place the order at the time of order placement. Swastika Investmart Ltd.(BOM:530585), India’s renowned technology-driven Financial services company and startup accelerator has launched its discount brokerage firm ‘Tradingo’ for its clients to facilitate trading and investing in the Indian stock market at a discount brokerage. Tradingo offers a zero brokerage plan on delivery-based orders for buying & selling of shares. For intraday trades and all other F&O trades, the flat rate is Rs 20 per order.
Founded by IIT Delhi graduate and technology & finance professional, Parth Nyati, Tradingo is a platform where users can get machine learning-driven trading and investment recommendations based on users’ interests and trading patterns, and intuitive order execution flow to avoid unnecessary delays and rejections while trading. The platform has been carefully crafted for investors as well as day-to-day traders with bank-grade security.
Commenting on the development, Mr. Parth Nyati, Founder, Tradingo said that “Since our inception last year, we have witnessed great organic traction in terms of customer acquisition and are already generating sizeable revenues. Owing to our great user experience coupled with personalised offline support, Tradingo currently has a quarterly turnover of Rs. 1200 Crores with a loyal customer base of 25,000 clients covering all 28 states and 8 union territories of India. Most of the customers are from central India – MP, Maharashtra, UP, Rajasthan, Gujarat, and Bihar. We have also launched our new android application to simplify the trading process.”
“Our trading recommendations are the key differentiators. There are direct actionables which save a lot of time for our users which they would otherwise spend on doing research by themselves. Our app Tradingo is very easy to get used to. The trader can chat directly with our research expert or the helpdesk via app. Offline support too is crucial hence we pick up the calls in less than 6 rings without any IVR.” Explained Mr. Parth Nyati, Founder, Tradingo
Discount brokerages, the ones that charge flat commissions even on high-value trades, have strengthened their market share. Discount brokers have led from the front capturing more than 75 percent of incremental client acquisitions and now command 45 percent market share in terms of active clients. In a report by Crisil Ratings, it is said that the overall brokerage industry growth is set to moderate in FY22 after a blockbuster FY21. It expects revenues to have grown by up to 70 percent in FY21 for a set of 15 brokerages with assets of over Rs 300 crore each, up from 7 percent in FY20.
Source: Business World
