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21 Sep 2019, Edition - 1530, Saturday

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5paisa.com Becomes India’s No.2 Discount Broker with 200000 Clients

Covai Post Network

Mumbai based Fintech start-up, 5paisa.com has strengthened its position in the discount broking segment as its client base increased to 2,00,000 from just 50,000 a year ago. According the NSE’s latest data for the month of November, 5paisa has become the second largest discount broker in terms of client base. It has overtaken several established discount brokers to reach this position in a span of just two years.

 

The company’s strong value proposition has also led it to achieve 2% share of daily cash turnover within a short span of just two years. 5paisa is the only broker in India to offer trade at 0% brokerage with a flat fee of Rs. 10 for any transaction size. 5Paisa.com is also the only listed discount broker in India.

 

Commenting on the growth, Prakarsh Gagdani, CEO of 5paisa Capital Limited said, “We are on the right path of growth and we are constantly evolving to adopt the best of technologies and practices. Our commitment to offer distinguished service has helped us scale a strong growth trajectory in just two years of our existence. Looking ahead, we aim to outshine this success and triple our active client base in the next 12 months.”

 

5paisa is the pioneer of Mobile First platform in India and offers a completely digital platform with the most advanced investing technology. The company’s intuitive and user friendly interface enables investors to complete entire transaction online with full transparency, right from opening an account. 5paisa’s mobile application remains one of the most downloaded and used applications among discount brokers in India.

 

5paisa caters to the growing do-it-yourself (DIY) customer segment and offers a one-stop platform to enhance investor convenience. Its quality integrated platform allows investors to manage investments across equity, mutual funds, insurance and currencies.

 

About 5paisa Capital Limited

5paisa Capital Limited (NSE: 5PAISA, BSE: 540776) is engaged in providing financial products through its online technology platform and mobile applications. It is registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor. Its services are targeted at retail investors and high volume traders who actively invest and trade in securities markets and seek DIY (Do-it-Yourself) services at a low cost.

 

The company provides an online technology platform to clients through internet terminals and mobile applications for trading in securities in NSE and BSE; advisory services through the research undertaken by a team of fundamental and technical research analysts; and depository related services as part of its integrated services offering.

 

5paisa Capital is a technology driven company having mainly an online presence. The Company remains focussed on innovation, based on understanding customer behaviour, and constantly strives to achieve tech superiority as is visible through the developments of its robust trading platform, advanced mobile app, an Artificial-Intelligence powered Robo-Advisory platform, and the paperless account opening process.

Source: Newsvior

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