Stockbroking platforms have seen huge growth in 2020 as a lot of first time investors have taken to equity investing. In an interview with THE WEEK, Ravi Kumar, co-founder and CEO of Upstox, an online brokerage backed by Ratan Tata, expects to double the number of accounts on its platform by December. The discount broker will soon allow investors to buy global stocks on its platform and also wants to look at a product for mutual funds investing later. Excerpts:
Upstox Pro is the most sophisticated mobile trading app offering competitive brokerage rates. Experience the stock market like never before on this phenomenal online trading app. Enter to Search. Bied je haar Advertentie, Informatie en Nieuws App aan die deel. Free Publisher: Qonect. Upstox Pro is the most sophisticated mobile trading app offering competitive.
In the last year or so, we have seen a surge in people opening accounts with brokerages to trade directly in stocks. How has growth panned out for Upstox?
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We are a digital financial services business and consumer facing business. If you overlay any digital, internet, mobile first business, you will see all these business have grown alongside penetration of Aadhar, e-KYC and alongside the mobile internet penetration.
Our retail business has been around since 2012. It was very difficult for customers to open an account with us in our earlier years, because you had to find 25-30 documents, go to the store and photocopy address proof, bank proof etc. and send us these self-attested documents. There was a high rejection ratio, as you would forget something, some signature somewhere. Ever since Aadhar came into play and internet connection really ballooned, our business started booming. In the last two years, since June 2018, we went from one lakh accounts to one million accounts and we expect to open the next one million before December.
People from smaller towns also seem to be taking to equity in a big way.
Lot of our customers now are not coming from the big metro cities, but are from tier 2 and tier 3 towns; 75 per cent of our customers come from these much smaller parts of India. The vast majority of our customers are placing orders through the mobile app; 85 per cent of our orders are from mobile phones, 65 per cent of them have opened their first demat account. So, we are onboarding first time investors and first time traders at Upstox, which means we are increasing equity market participation in a very significant way.
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Indians were typically averse to equity investing, given the risks involved. What has changed now that so many people have now begun investing in stocks?
India is a high savings country. Interest rates are dropping. When other asset classes are not doing well, it makes more sense to invest in the equity market where the returns, at least, in the longer period have shown to be better.
There is also a trend of savings moving from physical to financial assets. Especially during the lockdown, a lot of people realised that they all of a sudden couldn’t sell their gold, or their land quickly in this environment to meet their short-term financial needs. Autobiography audio books free download. So, they realised that they should be keeping their savings instead in financial assets, which are more liquid in nature and you could have access to that money on a rainy day.
Around 75 per cent of our accounts are under the age of 35. The internet penetration visible today, was not there a few years ago. Python coding app mac. The price of broadband is among the lowest in the world. All these things were not there in the past, which is why you are seeing this story play out today.
What are the new opportunities that are you exploring on Upstox?
Right now, we are about to launch global investing on our platform. You can buy stocks from 60 different stock exchanges worldwide. So, you can open up an account and buy shares of Apple, Google, Tesla, or Toyota or Mercedes and all these companies around the world and we are making that very seamless. This is going to be one lever of growth for us, alongside everything else we are doing.
Is a mutual fund platform also in the works?
Definitely.You can actually buy mutual funds on Upstox, but that’s not something we had focused on in a big way. That is definitely an area of interest for us. We have a product pipeline in mind and all of these products will be there at some point or the other. But we will proritise based on the feedback, where we see peculiar market needs, where we think we can build something that is better than anybody else has built and its the next product we would like to work on and launch.
How is the platform being scaled up given the exponential user growth you are seeing? Fujitsu siemens amilo pro v3515.
We are a lean team, about 200 people, majority of them engineers. We are not a financial services company that happens to be in technology, but we are a tech company that happens to be in financial services; we are product makers. So, everything we do is through the lens of technology.
Download 2k14 for mac free. Software development will be our focus area, that is the biggest investment that we make.
Upstox Pro helps you trade and analyse the Indian stock markets in realtime. Cutting edge charting tools and live market data make it one of the most renowned stock market trading apps in India. brbrJust download and experience the trading app for free. You can track and analyse stocks onthego. Open a demat account only when youre ready to place your first trade! brbrKey Highlights brbr Universal search tool to find simple and complex stocks.br Access to NSE cash Futures and Options and Currencies scripsbr Cuttingedge charting tools that are above industry standardsbr Charts of multiple intervals types and drawing stylesbr Apply 100 technical indicators on realtime chartsbr Trade directly from charts with the Trade From Charts TFC featurebr Set unlimited number of price alerts for instant updatesbr Create unlimited number of customized watchlistsbr Receive realtime market feeds to stay on top of your scripsbr Access predefined watchlist of Nifty 50 and other indicesbrbrWhy Choose Upstox brbr Zero brokerage on delivery trading and 20 per transaction on Intraday and FampO trades.br Backed by top investors including Ratan Tata Kalaari Capital amp GVK Davix.br Fast and efficient trading platforms for traders and investors who value time. br Interconnected trading softwares that enable you to trade on both mobile and web using the same account. br Sophisticated charting softwares combined with speed and reliability.brbrbrWith Upstox Pro you can make the most of stock market investment and trading. So just download the app and turn your Androidbased smartphone into a powerful stock analysis platform.
Upstox Pro: Stock trading app for NSE, BSE & MCX
Name: | Upstox Pro: Stock trading app for NSE, BSE & MCX |
Category: | Finance |
Reviews: | /5.0 |
Version: | Varies with device |
Updated: | |
Requires Android: | Varies with device |
Installs: | |
Google Play-URL: |
Download Upstox Pro: Stock trading app for NSE, BSE & MCX For PC Windows & Mac
![Upstox app for laptop Upstox app for laptop](/uploads/1/3/4/2/134248340/611881654.png)
- First, download and install Android App Emulator completely.
- After downloading and setup, open App Emulator.
- Now in App Emulator click on the Search button in the first line on the app emulator home screen.
- Now in the search box, type Upstox Pro: Stock trading app for NSE, BSE & MCX and get the manager on Google Play Search.
- Click on the app and install it.
- Once installed, you will find Upstox Pro: Stock trading app for NSE, BSE & MCX in all apps in Android App Emulator, click to open it.
- Use the right mouse button/click to use this application.
- Follow the instructions on the screen to learn about Upstox Pro: Stock trading app for NSE, BSE & MCX and to play it properly
- That’s all.
Upstox Pro: Stock trading app for NSE, BSE & MCX Screenshots
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Download Upstox Pro: Stock trading app for NSE, BSE & MCX for Android and tablet devices
Google Play Store: Download
Conclusion
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