With smartphone usage on the rise, mobile trading in
equity market could see a huge surge in the coming years.
It is estimated that the number of people trading and investing in equity market through the mobile platform is likely to garner about 15-16 per cent of the total trade done on the stock exchanges in the next three years. Though internet-based trading is quite high now, in the future mobile based trading is expected to rise sharply.
As per NSE data, there were 32.96 lakh clients registered in equities across all members for internet trading and around 19.5 lakh to 20.5 lakh people traded daily through the internet. Edelweiss financial services has launched Tap2Trade mobile trading account which promises trading within 60 minutes after registration. Tap2Trade would use investor’s existing KRA information for startup which would enable registration in three simple steps.
The Tap2Trade account
opening process empowers individuals to open an online trading account and
trade using smart phones/ computers. This is a huge time saver compared to the
earlier 48 hours required for the same. Minimum documents required are pan card
and cancelled personalised cheque for KRA verified customers which
enables Tap2Trade online account opening in just three simple steps. Tap2Trade can be accessed either via computers or by downloading
theEdelweiss Mobile Trader app. The service is initially
available currently in 8 cities.
Nitin Jain, CEO, Global Asset & Wealth Management, Edelweiss
Financial Services said, “Revenues and number of clients trading on the
Edelweiss Mobile Trader platform has quadrupled over the last 12 months. Mobile
is also the dominant platform in terms of client preference. This leads us to
believe that over the next three years, we should see an 8x growth in mobile
trading volumes.”
Edelweiss Tap2Trade mobile trading account has been
designed on 3S framework – Simple, speed and Smart. Tap2Trade would be
available on mobile as well as desktop.
Mr. Rahul Jain, Head of Retail
Advisory, at Edelweiss Financial Services. “The initial response and feedback
from clients has been very encouraging. Our Mobile platform is predominantly
catering to trader clients and now 11% of orders go through mobile platform
which was merely 4% a year ago. We also believe that this will help facilitate
greater retail participation in investing into the Indian Capital markets in an
equitable manner and will allow Indians to participate in the India growth
opportunity.
Edelweiss Tap2Trade is a solid step from Edelweiss
towards Digital India. Download the app here.
This post has been written for the Edelweiss trading app launch event through BlogAdda
