Manish Shah was having a tough time dealing with his trading account. His office consumed most of his weekdays, which meant he ended up missing trading hours, since sitting in front of the computer to trade was not an option. He wished for a solution that he could use on the go. That is when he finally decided to download a trading app on his mobile phone.
How the app made all the difference
The app changed Manish’s approach to the markets. He did not need to access a computer to trade. The simple and user-friendly app did the job. It was a light app which could even operate on low bandwidth. And the best bit is that he could trade on the go. The entire process was seamless.
How apps have led to the rise of online broking
The share of online trading has gone up manifold in the last 10 years. What really drove this shift was the penetration of mobile phones, access to cheap & robust internet, and the introduction of simple-yet-powerful apps on all platforms. The proliferation of app downloads is actually making the traditional model of broking redundant as more and more traders and investors no longer find any value addition in walking to the broker’s office or calling up the dealer. It feels too cumbersome and time consuming. Now all that you need to do is to execute the trade on your mobile using the app. It can be done in the train, in your car, during lunch time or even when you are having your cup of coffee.
What does this mean for the future of investors and for stock brokers?
There are two aspects to this issue. Firstly, let us look at the investors. For them, it’s purely a matter of speed, convenience, and anytime access. You are not bound by geography, any longer. You app is your trading world. Secondly, investors have full control of the trades and can monitor and modify it, if required. Thirdly, the mobile phone becomes the virtual ecosystem for the trader.
What does it mean for the broker? For brokers, a sophisticated and robust app is the window to growing their broking business. The old model of adding branches and franchises to expand business is gone. The focus now is to create a combination of an online platform and app that can capture the fast growing and fast migrating tech-savvy market. That is exactly where apps fit in.
Making trading in equities a lot more democratic
One of the big advantages of online trading is that it makes participation in equities a lot more democratic. There is no real advantage that the trader in Mumbai has over the trader in say, Bhatinda or Trichur. Each of them has access to the same trading platform and the same information set to take trading decisions. Real democracy comes from participation at low cost. That is exactly what brokers like Upstox have successfully done for the trading and investing customer in India. Equity investing is no longer a mirage for all of rural and semi-urban India. You just need to download the app. That is all!
Download the Upstox App Today