5Paisa.com, India’s second-largest discount broker today said it has added 99,000 customers in October – December period taking is customer count to 424,000. 5paisa.com is India’s only listed discount broker.
5paisa.com’s CEO Mr. Prakarsh Gagdani said, “In addition to our growth we are happy to share that 81% of new clients were from tier II and tier III cities indicating the spread of equity culture in smaller locations. The 5paisa Mobile App has about 3.6 million downloads making it one of the most used stock market app in the world.
India’s most affordable discount broker 5paisa.com said, its average daily cash turnover grew by 12% in October – December period over the last quarter, and the average daily cash market share and total market share stood at 2.96 % and 2.04 % respectively. 5paisa.com’s 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.
5Paisa.com is looking at massive growth for the next few years after it was bolstered with Rs110 crores of funds through a rights issue in August.
Besides broking 5paisa.com is also engaged in providing other financial products like mutual funds, insurance etc. through its online technology platform and mobile applications. It is registered with SEBI as a stockbroker, depository participant, and research analyst, and with AMFI as a mutual fund distributor.
5paisa Capital is a technology-driven company having mainly an online presence. The Company remains focused on innovation, based on understanding customer behaviour, and constantly strives to achieve tech superiority as is visible through the developments of its robust trading the platform, advanced mobile app, an Artificial-Intelligence powered Robo-Advisory platform, and the paperless account opening process.
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