The tables have turned. Mobile Trading has now become more like a default trading option, especially among the busy urban traders. If we bring in the numbers from the different stock exchanges, there has been a staggering increase in the usage of mobile phone for trading.
For instance, the National Stock Exchange (NSE) data says that the mobile trading share was 3.3% in 2016 while it has increased by over a double and is placed at 7.7% (2018) of the overall share market trading. The other modes being Trading Terminal, Web trading applications to go along with one of the most preferred methodologies – Call & Trade.
Similarly, if we talk about the Bombay Stock Exchange (BSE), the surging trend is similar from 1.84% to 4.49% from April 2016 and April 2018.
This is how the numbers stack up in a graphic format:
Here is what some of the top executives from leading stockbrokers have to say:
“The growth potential of mobile trading is tremendous as everything that was available on the web is now in an app.” This is what Prakarsh Gagdani (CEO, 5Paisa) had to say about the success of 5Paisa Mobile App when it reached the magical landmark of 1 Million downloads recently, a first by a discount broker in the stock trading space in India.
70% of the trade volume comes from the mobile app of 5Paisa and 70% of the users are first time traders.
“2 years back, the mobile traction was 10% to 15% of the overall turnover. It has now risen to 60%.” Nithin Kamath, CEO Zerodha. “We see close to two million trades on our platform daily with the majority happening through the app”. He adds while talking about the Zerodha Kite Mobile App.
Some of the other apps that need to be mentioned as top mobile trading apps are: