March 2012, Mumbai: Giving control to traders and retail investors right in their palms, Kotak Securities has become one of the few brokerage firms to make the Mobile Stock Trader application available for iPhone users. With this initiative, Kotak Securities extends its MST app to 95% of mobile handsets including all versions of iPhone and iPod touch, Android OS, Symbian, Bada and Blackberry.
With increasing penetration of mobile handsets, especially smartphones at affordable prices, coupled with the recent thrust of apple products, demand for mobile stock trading may witness a considerable boost.
The recently launched app for Blackberry and Java has seen wide acceptance amongst traders and also retail investors. Availability of smartphones at low prices will further boost mobile trading.
Speaking on the increasing popularity of this app, Mr. B Gopkumar Executive Vice President, Kotak Securities said, “With the launch of the iPhone version, we see a large explosion in the app demand. Currently, more than 20 per cent of our customer base places trades through mobile stock trader every month. The number of trades through MST has increased by 5 times in the last 6 months. We also receive over 12 lakh requests daily through the App for various services. We’ve had over 3.3 lakh downloads so far and expect 50 thousand more by next quarter”.
Unlike a WAP site or an HTML based website, MST is a native application that gives users a rich, hands-on experience. This smart and free-to-download application allows you to be in touch with the markets anytime, anywhere making trading-on-the-go a reality. One can also check their portfolio and account details; get live streaming data of market updates, indices updates, stock quotes and much more. Even non customers can download this app and take advantage of its many features like tracking live markets, view streaming data, making virtual portfolio and watch lists.
In line with Kotak Securities vision of reaching out to the tier II sector and increase the investor base, this move will help enhance investor experience and get them accustomed with modern technology. According to industry reports, India, at present has about 17 million mobile-internet users, a large percentage of which belong to the smartphone category. India’s investor community is estimated to be around 20 million, growing steadily each year. By aligning devices of digital communication technology and stock trading into a cohesive whole, trading on-the-go will be a viable option for investors and prospective investors alike.
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