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Indore based discount broking start-up TradingBells has raised Rs 2 crore as seed funding from Mumbai-based stock broker Swastika Investmart Ltd. The start-up plans to utilise the funds in hiring talent, expanding office infrastructure, technology upgradation and customer acquisition, it said in a press release.
TradingBells offers zero brokerage on delivery-based transactions, and lower of Rs 20 or 0.01 per cent of the turnover per executed order for intraday and F&O transactions. It is among the few players to offer high leverage of up to 22x on equity and up to 7x on commodity trading, as well as free trading and demat account opening with zero balance for customers. Swastika Investmart Ltd has over 75,000 clients and is spread across 17 states through over 90 branches.
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