Stocks

Samco launches KyaTrade app for retail investors

Our Bureau Mumbai | Updated on June 16, 2021

It provides instant trading idea with recommendations and a host of other features.

With the number of new demat accounts opened at a record high, Samco Securities has launched ‘KyaTrade’ - an instant trading idea and recommendation App that live streams actionable and high-conviction equity trading and investment ideas that come with a favourable risk-reward ratio.

Amid near-record rally in the equity markets during the pandemic-ravaged FY21, brokerages have added on an average of 13 lakh new demat accounts every month since April last year, taking the overall retail investor headcount to record 6.97 crore as of May 31 this year.

Host of features

The starter pack of KyaTrade, which has two options of investment and intra-day plans, comes at ₹1 for the first month of registration. After that, investors have to shell out an annual fee of ₹6,000 for the investment plan, while an intra-day idea comes at ₹12,000 per annum. The minimum investment corpus required for availing the trading ideas is ₹2 lakh.

Samco also offers a money-back policy for an investment plan if investors execute 75 of the 100 ideas offered and do not a make profit in one year.

Once investors are convinced with an idea, they have just to slide screen towards right and the trade will be executed automatically for three legs -- purchase, stop loss and book profit at a target price. Samco, which targets to register one lakh customers in one year, will charge a brokerage of ₹20 per trade.

Jimeet Modi, Founder and CEO, Samco Group, said while entering the markets is easy as anyone can sign up for broking and demat account, making a risk-adjusted source of income from trading or investing in the markets remains a challenge.

Profiting from the stock markets is no easy task as one is competing with high-frequency and algo-traders for whom this is bread and butter. KyaTrade will provide much needed support for retail investors, he added.

Published on June 16, 2021

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