Mumbai [India], May 14 (ANI-Newsvoir): India's most affordable discount broker, 5Paisa.com said, its free mobile application 5Paisa has reached a million users, the most downloaded and used application among discount brokers in India.
The app is the fastest to reach the 1 million download feat in the financial markets application space and remains one of the most used app anywhere in the world.
5Paisa with its unique offering of lowest cost Broking, Complete Paperless Account opening, Mutual Funds, Insurance, Research and Robo Advisory is the fastest growing discount broker in the country.
5Paisa said, about 70 percent of its customers are first-time investors while 90 percent are under 40 years. The mobile app is so easy and simple to use that it is becoming a natural stock investment and trading platform for the do-it-yourself customers. More than 80 percent of its trading and investing happens through Mobile App.
Prakarsh Gagdani, CEO 5Paisa Capital Ltd., said, "Our philosophy from 1st day has been extremely clear. Provide simple but important features to customersand thereby give a world class experience. It is this approach which helped us to become the fastest growing mobile app in the industry."
5Paisa.com is the only markets app in the world, which provides access to research on 4000 Indian companies through its partnership with the respected American research house William O' Neil.
"We have designed the app separately for android, windows and IOS platform, which helps the native app to perform the best according to the users' mobile platform. We assume the old as well as new customers will love the experience and trade through their mobile," Gagdani said.
5Paisa is India's fastest growing digital discount broking platform. Its customer base has grown by 650% to 75,000 consumers in the fiscal year 2018, helped by an advanced technology platform and most affordable brokerage in the industry. 5Paisa.com is owned by 5Paisa Capital Ltd., India's only listed financial technology firm.
5Paisa.com has become very popular because of its differentiated offering of zero brokerage and a flat fee of just Rs. 10 per trade for any size of trade - 98 percent lower than its competitors. 5paisa.com is the only online market place in India offering all kinds of financial products digitally and without human intervention. (ANI-Newsvoir)
This story has not been edited. It has been published as provided by ANI