Registers spike in number of traders from Maharashtra, New Delhi, Karnataka and Telangana
The highest number of traders are from Maharashtra in the platform
Delhi recorded the highest percentage of millennials and Gen Z traders at 70%
Maximum volume of trades was executed under NSE throughout the country
Mumbai, May 12, 2022: TradeSmart, one of India’s leading new-age online discount brokerage companies released its latest trading report of FY21-22 and announces a 57% rise in its customer base. The report highlighted exciting growth trends and insights from four cities: Delhi, Maharashtra, Karnataka and Telangana.
TradeSmart witnessed an uptick in female traders in most of the Indian cities – Delhi (5%), Maharashtra (4%), Karnataka (3.5%) and Telangana (3%). Millennials and GenZ formed a significant part of growth in the trading platform. Delhi recorded the highest percentage of millennials and Gen Z at 70%, followed by Maharashtra at 68% then Karnataka and Telangana at 65%.
In addition, the survey also revealed an interesting insight of increasing number of traders in the age group of 51-60 years. Apart from this, maximum number of trades were executed under NSE, with Karnataka topping the charts at 97%. The remaining three cities recorded 96% trades under NSE on the TradeSmart platform.
TradeSmart spokesperson Mr. Vikas Singhania, CEO, TradeSmart said, “The number of traders and trading volumes are increasing exponentially on our platform every year. We are happy to share that millennials and Gen Z are leading this growth trend, which can be attributed to the extreme bull and bear market cycles in the last two years due to the pandemic. Other reasons are rise in usage of smart phones, growing awareness around trading, and the availability of user-friendly and discount trading platforms like TradeSmart simplifying the stock trading process.”
He further adds “Based on customer portfolio study, we can see today’s young generation is even considering trading as a full-time career path. Many people even see it as a side hustle to earn additional monthly income through Intraday Trading. We strongly believe this trend will continue to grow, with discount and tech-enabled brokerage firms being drivers and game-changers in this space. Our plans for 2022 are aligned to capitalize on the trend.”