Earning reliability is biggest challenge for a discount broker: Shrey Jain, SAS Online

Very soon, India will become the second largest country with the Internet user base, thanks to exponential growth of smartphone users in the country. The growing Internet penetration and availability of technology through mobile sets have provided many sectors the required tool to grow. Among the highest beneficiaries are deep discount brokers, who currently handle about 10 per cent of the total trading volume at NSE. Sanjeev Sinha spoke to Shrey Jain, CEO, SAS Online, a Delhi-based deep discount broker. Excerpts:
Q. Tell us about your journey so far.
A. We started in April 2013 with a team of only 3 people. After making thousands of cold calls personally, we reached our first milestone of 1000 customer base in October 2013. Most of the clients were on referral basis only. Our clients showed confidence in our service, technology and most importantly our intent. In just about two-and-a-half years, the company has more than 9000 clients spread across more than 600 cities in the country and currently has about Rs 5200-cr daily turnover on the exchanges. We are growing with almost 100 percent CGPA.
Q. What kind of problems does a deep discount broker face?
A. Initially, people did not understand our model and it was really very difficult to make them understand that even big orders can be executed at a fixed low cost. People were sceptical about our model and some even wanted to know if this was some kind of Ponzi scheme. Earning reliability in fact is the biggest challenge for a discount broker.
Q. So, what do you think worked for you?
A. With the first-hand experience of trading, we understand what a trader needs. The timely execution of order, reliable technology and quick service are among the most important requirements. Also, we realised there is a need of right pricing. We started with a fixed pricing mechanism where we charge just Rs 9 per trade or Rs 999 per month. Many of our customers have claimed they saved in thousands every month compared to what ..
Share this post
-
The trading slowdown: Cash & F&O turnover hit multi-month lows
November 28, 2024
-
Think largecap investing, think Exchange Traded Funds
July 20, 2024
South Asian Stocks Ltd. : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code : 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. INZ000164738
Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain , 011-40409999 support@stocko.in
Registered Office : 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092
For any complaints related to South Asian Stocks Ltd email at complaints@stocko.in
Please ensure you carefully read the risk Disclosure Document.
Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective communication, Speedy redressal of the grievances