Moneypalm launches Zero-Brokerage scheme for prospective customers

Under this scheme, the company will not charge any brokerage on trading for next one month from its customers who open their accounts between 1st July 2016 and 15th August 2016.

 

This offer essentially means that a person can trade as much as he wants for a period of one month from the date of opening his account between July 1st and 15th Aug 2016 and Moneypalm will not charge any brokerage from him. 

 

However, the trader will have to pay any applicable government taxes like STT, Stamp Duty etc. This offer will help the traders test discount brokerage services offered by the company, without paying any brokerage.

 

Nirdosh Gaur, Managing Director & CEO, Moneypalm, said, “We are delighted to launch the revolutionary scheme of Zero-Brokerage in the discount broking industry. We are extremely confident that once a client starts trading with us, he or she will never want to go to some other broker because of our wide gamut of additional quality services. Investors will not only get benefit from zero brokerage schemes but will also have access to our technologically robust trading platform and educational blogs that will help them trade with confidence.”

 

“The concept of discount broking in India has witnessed a CAGR of over 10% over the last few years and it is expected to grow by 35-40% in the next 2-3 years," he further added.

 

Moneypalm in a short span of time has already become one of the leading players in this segment. The company provides Discount Broking platform to its customers at a negligible flat fee of Rs.15 for every executed order, which translates into over 95% savings in trading costs when compared to traditional trading formats. 

 

Moneypalm aims at more than 1, 00,000 clients across India and an average daily turnover of more than Rs.10, 000 crore (Total of all segments) by the end of next 2 years.