MUMBAI, FEBRUARY 14:
Discount broking firm, Trade Smart Online, plans to double its current 25,000 customer base by next March. It plans to introduce E-KYC, mutual funds distribution and new mobile app for beginners in this year.
“Every month we add 700-800 new clients, which we want to scale it up to 2,000-odd for achieving our customer base targets. Discount broking firms now form 20 per cent of the total retail volumes currently and retail volumes through discount broking firms is growing at 50 per cent year on year, “ said Vikas Singhania, executive director of the company.
In terms of marketing strategy, the company is focussed on digital marketing, TV advertising and word of mouth for publicity. It plans to invest at least Rs. 2 crore on technology for new product development.
Out of the total 25,000 clients, 30-35 per cent are new accounts for the company (clients who do not have accounts elsewhere). Around 55-60 per cent of its users trade through mobile today compared to 25 per cent around three years ago.