After booking cabs, grocery and food online, there appears to have been a shift in the mindset of the Indian investors too. If one considers the download pattern of on financial market mobile apps of Google Play Store the numbers reveal a clear shift in the trend.
Traditionally, the traders and retail investors were thought to be a conservative lot when it came to choosing the mode of their stock market investments, often involving huge monies or their life savings. However, the trend of mobile trading apps of broking houses being preferred over banks and exchanges, as indicated from Google Play data, indicate the growing trust factor of investors for their brokers. BSE app ranks No. 2 while leading brokerages like ICICI Direct and Edelweiss rank No. 3 and No.4 as per data from Google Play.
India’s top Fortune 500 listed broker, India Info line Ltd, said, its stock trading application IIFL Markets has crossed 1.2 million downloads, the most downloaded and used application in the financial markets applications category in India. India Infoline Ltd a part of the leading diversified financial services entity, IIFL Group.
IIFL Markets is also the highest rated app in Indian financial markets space with 4.4 star rating from over 20,000 users, IIFL Markets enjoys a 4 star or 5 star rating by about 90%+ users. The app is the fastest to reach the 1 million download feat in the financial markets application space and remains one of the most used app anywhere in the world.
IIFL Markets app has 3 lakh monthly active users, contributes to about 30% of IIFL’s broking revenue and caters to 40% active clients. In FY17, IIFL Group’s income from capital market segment and related activities was Rs 622 crores. The app also brings about financial inclusion in truest sense. It’s highest penetration is in smaller cities like Ranchi, Ananthpur, Visakhapatnam, Ludhiana, & Vijaywada. This is the one of it’s kind app in the world, which provides access to free research on 500 companies.
“Considering the fast adoption of stock trading through our mobile application, we expect the IIFL Markets app downloads to cross 2 million mark by end of 2018 fiscal,” said, Mr Chaitanya Shahare, Head, IIFL Markets app. His team of over 50 people take pride in developing and managing the app.
“We have designed the app separately for android, windows and IOS platform, which helps the native app to perform the best according to the users’ mobile platform. We assume the old as well as new customers will love the experience and trade through their mobile,” Mr Shahare said.
IIFL Markets boasts a hamburger styled menu and state of the art dashboard, which provides user with all information required in one screen. IIFL Markets provides exclusive features like Watchlist, Price Alert, Buy/Sell Stocks/Mutual funds, Market Buzz, IIFL View, Videos/Live TV and IIFL Ideas. Being a native application, IIFL Markets is faster and more stable than any other such application. IIFL Markets is the only such application, with widget functionality, fundamental research
