HDFC Securities on Monday (September 25) launched a discount broking all-in-one mobile app – HDFC SKY. The app is designed to support investors and traders of all experience levels to participate seamlessly in the financial markets and achieve their financial goals, the company said in a statement.
HDFC SKY has a one-price slab of ₹20 for both intraday and delivery across segments, MTF at 12 per cent, coupled with zero account opening and maintenance charges for the first year.
HDFC Sky, like several trading apps, is open to all investors and traders, unlike HDFC Securities which is only for HDFC Bank customers. With this app, the company appears to be targeting to capture a sizable market share of traders and investors. As of now, Zerodha, Groww and Upstox are some of the prominent discount brokers in India.
The app will provide access to a wide range of investment and trading offerings, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities on a single Fintech platform.
HDFC Securities claimed the app will ensure that customers benefit from simple and transparent fee structures, making it easier to understand the cost associated with the transactions.
“The main purpose of the platform is to simplify the complex world of investing, especially when investors face countless options available in the market. The all-in-one app with a user-friendly interface will help investors and traders break free from all the confusion related to their investments,” HDFC Securities said in a statement.
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Speaking at the launch, Dhiraj Relli, Managing Director and Chief Executive Officer at HDFC Securities said, “I am thrilled to announce the launch of HDFC SKY, our latest Fintech innovation tailored for the dynamic Indian investing and trading community. HDFC SKY embodies our commitment to put clients at the forefront, offering a seamless, all-inclusive app for investments.”
“With a flat pricing model, we ensure transparency and affordability for all investors. What sets HDFC SKY apart is its cutting-edge technology, which will give our clients a secure, efficient and user-friendly experience. HDFC SKY is more than an app. It’s a testament to our dedication to excellence in financial services.”
Sandeep Bhardwaj, Chief Operating and Digital Officer at HDFC Securities said, “Our latest Fintech offering, HDFC SKY will offer a comprehensive suite of features, including an all-in-one app for various asset classes, free in-house research, a dedicated MTF ecosystem with competitive pricing, an intuitive UI/UX for seamless navigation, personalized watchlists with tags, option chain, educational resources via HDFC SKY Learn, and the ability to compare mutual funds with deeper insights, empowering investors to make smarter decisions.”
HDFC Securities said it is committed to further enhancing HDFC SKY as the ultimate destination for Indian investors and traders.
“We will continue to refine the user experience, expand investment options, and leverage the power of technology to make investing even more accessible. We’re dedicated to fostering financial empowerment through transparent pricing and innovative features. Our goal is to ensure that every investor, from novice to expert, finds in HDFC SKY the tools they need to achieve their financial aspirations. As we move forward, our focus remains unwavering: client-centricity, innovation, and a technology-driven future,” the company stated.
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Updated: 26 Sep 2023, 07:52 AM IST