Zerodha banks on zero brokerage and local language interface
Discount brokerage firm Zerodha Tuesday launched Bengali interface for trading and zero brokerage on delivery transactions in equity segment.
Kolkata: Discount brokerage firm Zerodha Tuesday launched Bengali interface for trading and zero brokerage on delivery transactions in equity segment.
The company was banking on zero brokerage and local language stock market trading interface to attract new small investors from smaller towns into online trading.
"We are offering zero brokerage for unlimited number of delivery-based transactions in equity segment and local language interface for those not comfortable with English. These will help bringing in new set of clients on trading from smaller towns and cities," Zerodha VP sales Shubhayu Bhol said.
Out of a population of Rs 135 crore, less than one percent people trade online. "We want this number to grow and to attract we are offering brokerage free delivery transactions though we are burning cash," he said.
While, on the other segments like intra-day and futures and options trading maximum brokerage is Rs 20 per transaction, the company said.
Bhol said additionally for the first time India offering six local language trading interface along with English as we speak, will help building greater confidence in adopting online trading.
The languages include Hindi, Kannada, Malayalam, Punjabi, Gujarati and Bengali and English.
The brokerage firm that does Rs 7000 crore average daily turnover, was planning to introduce more local langauge.
Bhol said Zerodha will soon launch an NBFC for foray into mutual fund business and margin funding in the equity segment. The company made a profit of Rs 120 crore.