Discount brokerages charge near zero brokerage for buying and selling stocks and make most of their money by charging minimal flat fees on options trading.
Wealthtech platform Share.Market aims to give a new dimension to discount broking in India by offering quantitative research and market intelligence. Share.Market plans to go live with futures & options trading by the end of March. Share.Market aims to bring in a new dimension to stock broking by providing quantitative research along with execution.
This rise in retail investors, which can be evidenced through the jump in SIP collection in the last 3 years has directly benefited discount brokers. Currently, discount brokers hold a cumulative market share of ~60 percent, a significant jump from their previous share of ~11 percent in FY18.
The Bengaluru-based firm has seen its revenue in FY23 revenue cross Rs 200 crore and it plans to onboard 1 million users by 2024. It is also entering the portfolio management service business.