(Eds: Disclaimer: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.)
CHENNAI, India, Feb. 16, 2022 /PRNewswire/ -- Flattrade (www.flattrade.in) an online brand of Fortune Capital Services Pvt Ltd has introduced Zero brokerage for its customers. Fortune Capital Services, a brokerage firm headquartered in Chennai has been in the industry for around 18 years. The company believes that zero brokerage plan for all trades across all segments will disrupt the broking industry.
The brokerage industry has seen a lot of changes in the past year. After the new SEBI margin rules, conventional broking has seen a huge dip. These days, many entities offer no commission for certain segments but Flattrade foresees zero brokerage services to disrupt the trading space in India and it has taken the lead in offering this service. The company clearly sees a big market for the innovative Zero brokerage plan and it believes that this is the right time to make the transition; as revenue through brokerage fees with a lot of hidden charges has become outdated. Flattrade is the first Indian-based company to offer zero brokerage for all orders; like Equity, Intraday, F&O, and Delivery across all Commodity, Currency segments with no hidden charges.
Mr. Narayana Moorthy, Flattrade's Managing Director, explained, "The Zero Brokerage plan is a well-thought-out plan and the company has carefully formed a business model to take it forward to acquire more customers across the country. The pricing is simple for the Zero brokerage plan, The customer has to pay just Rs 200 as a one-time charge during the time of account opening. There are neither any annual maintenance charges nor any brokerage charges. The Zero brokerage plan would lower costs for its customers, which is important for the long-term profitability of a trader or investor in capital markets."
He also explained how the company will generate revenue to run the company as there is no brokerage. "The expense is the same for us, whether it is a single transaction or million transactions. The Zero brokerage plan is not entirely new, the idea has already been proved successful by brokers around the world. Moreover, the company will generate revenue through our funding products (NRML and MTF) and also through the exchange benefits by doing higher volumes."
Elaborating on the trading platforms, he said that Flattrade has always focused on building trading applications for its customers that would make investing easier and allow trading to operate at scale. The company has built an ecosystem that would make trading agile and developed applications that serves the requirements of their customers who have different levels of experience when it comes to trading, whether it is a beginner, passive investors, or professional traders. The company has also created cross-platform applications which are tailor-made for mobile, desktop, and web-based trading.
For more details visit www.flattrade.in