OPEN APP
Home / Markets / Stock Markets /  IIT graduate launches discount brokerage firm for stock trading
Listen to this article

 To make stock trading easier and less time consuming, IIT Delhi graduate Parth Nyati founded Tradingo - a discount brokerage firm. 

Tradingo offers a zero brokerage plan on delivery-based orders for buying and selling of shares. A flat rate of 20 per order has been decided for intraday trades and all other F&O trades.

To simplify the trading process, recently a new android application has also been launched.

Through this platform, users can get trading and investment recommendations based on their interests and trading patterns, and intuitive order execution flow to avoid unnecessary delays and rejections while trading. 

It has been carefully crafted for investors as well as day-to-day traders with bank-grade security.

Nyati said “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. 

The customer base is mostly based in central India - MP, Maharashtra, UP, Rajasthan, Gujarat, and Bihar. 

"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."

The firm is launched by Swastika Investmart, a technology-driven Financial services company and startup accelerator. 

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 300 crore each, up from 7 percent in FY20.

(With inputs from agencies)

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout