Thursday 5 November 2015

Tap2Trade for revolutionary mobile trading

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