After encouraging response received by its inaugural simplified pricing driven premium services plan Angel iTrade, Angel Broking has announced the launch of a next level version, i.e., Angel iTrade Prime. With this latest plan, one of India’s most innovative and customer-experience focused brokerage platform has introduced ZERO cost brokerage services for trades executed in cash delivery, and at a flat fee of only INR 20/- per order for Intraday, F&O, Currencies and Commodities segments. Angel iTrade Prime aims to remove all perceived barriers to investing & trading such as high or hidden brokerage fees, lack of transparency, etc. and offer clients an opportunity to avail full suite of broking services including basic research and advisory, absolutely free.
The core principle behind introducing Angel iTrade Prime plan is to simplify a client’s investment journey further by removing the next obstacle to wider participation: high fees and charges. Just to illustrate, for cash delivery segment trades, wherein purchased shares are held for longer than a day, certain charges were conventionally paid in addition to the purchase value of shares, comprising brokerage fees, transaction charges, taxes, etc. However, with the new plan the brokerage charges would be zero resulting in less overall cost burden for the customer; thereby encouraging higher participation from retail segment, especially first-time investors.
Mr. Prabhakar Tiwari, CMO at Angel Broking, quoted “We are experiencing rapidly growing demand from millennial audiences, who have strong digital maturity and seek an uncomplicated, self-service investment experience. An increasing number of retail investors, particularly from tier-2 and 3 cities are prioritizing greater control and transparency in their investment journey, which Angel iTrade Prime seeks to provide.”
The importance of such a move is multi-dimensional, Mr. Vinay Agrawal, CEO at Angel Broking added, “Reducing brokerage charges to zero promotes investing in equities as a preferred investment avenue for retail investors looking for long term growth asset class. By enabling both first time and existing investors to access a variety of tech-driven services, we aim to build an investment culture in the country that is based on simplicity, focus and self-service.”
A company with three decades of operational experience that has witnessed and in turn shaped India’s broking environment, Angel Broking has distinguished itself through its sustained focus on innovation and disruptive moves for retail customer benefit. The Company has previously introduced multiple initiatives led by technology. The introduction of zero cost self-service, Angel iTrade Prime plans further strengthens Angel Broking’s digital platform supported by its proprietary ARQ (rule-based investment engine).
Angel Broking is one of the largest independent full-service retail broking houses in India, in terms of active clients on NSE as of July 31, 2018 (Source: CRISIL Report). It is a technology-led financial services company, that provides broking and advisory services, margin funding, loans against shares (through one of our Subsidiaries, AFPL) and financial product distribution to their clients under the brand “Angel Broking”.
Aayush Pandey, Account Executive Value360 Communications, ,+91-9315602324