To address the challenges faced by customers using mobile as their primary trading platform the newly developed FYERS’ app is an outcome of the in-house survey undertaken by FYERS. Millennials represent 50 percent of over 50,000 customers, dominate the mobile trading, owing to ease of convenience when multitasking, affordable smartphones and cheap data plans. Whereas, the demographic segmentation of the survey revealed that female traders are on the rise, accounting for 20 percent of the trading community. Other key findings cited that Mumbai generates maximum traffic to the trading platform followed by Bengaluru, Ahmedabad, Hyderabad and Chennai. In addition, first-time investors from Pune, Delhi and Kolkata are slowly jumping into the wagon.

In the recent 4-5 years, in terms of coverage and using mobile trading has gained remarkable heights. As per industry estimates, the average daily turnover through mobile trading in shares on the NSE jumped to a record 10.15 percent to nearly Rs 3700 crores a day in 2019 from 3.6 percent two years ago.

The app comes up with simple as well as innovative features and delivers a phenomenal experience for the customer such as real-time streaming of quotes and charts, portfolios with sortable data, simple one-page experience for quick check-in on markets and Demat account, streamlined order entry/exit functionality, fundamental and technical analysis on single board, and all asset classes can be traded on the app.

In light of the current COVID-19 crisis, deviating from historical trends, for the first-time new investors are entering the markets. FYERS has observed a 40% increase in its customer base.

During the launch, Tejas Khoday, CEO and Co-Founder, FYERS, said, “When it comes to technology, we offer consistent optimal user experience to clients through our platforms. With the launch of new simplified trading app, we aim to refine the app experience to a point where a majority of investors can take a mobile-only approach to their portfolio.” He further added, “Our new trading app is easy-to-use and feature-rich while providing relevant and actionable information to help clients make the most informed decisions. Furthermore, it’s interesting to see increased participation from woman traders, first-time investors. We have been actively investing in the app and technology platforms to continue to provide an edge to such customers.”

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