The brokerage firm has launched ‘KyaTrade’ app on mobile to provide actionable investment ideas for its clients and investors. The app allows investors to ‘right swipe’ the investment idea they like and take action on it, while ‘left swiping’ ideas they do not. The concept is similar to the online dating app Tinder.
“Investors and traders are always looking for expert recommendations and once they’ve taken a market position, they rarely know the next step on their trade or investment,” said Jimeet Modi, founder and chief executive officer of Samco Group.
The brokerage firm said that its trading ideas on the ‘KyaTrade’ app generated average returns of 8.1 per cent since its in-house launch on April 14.
“With KyaTrade, we are providing the only platform in the country that gives you high conviction ideas with an auto in-built risk management system that controls your price of entry, position sizes, targets, and stop losses,” said Nirali Shah, head of equity research at Samco Securities.
Users will be required to open a brokerage account with Samco Securities and will be charged a flat brokerage fee of Rs 20 per order across segments.
Samco Securities’ efforts to gamify the stock market investing process is symptomatic of the ongoing technology-driven disruption in the Indian broking industry that has been triggered by the wild success of new-age brokers like Zerodha, Upstox and Groww.
