The company will not charge any brokerage in case of cash and carry orders. “There will be a zero brokerage on square-off of intraday orders in case of loss,” Sharekhan said.
Zerodha is the market leader in the business with a base of over 14 lakh active clients as of April 30, NSE data showed. The discount broking segment is seeing tough competition with the launch of several new players including Paytm Money.
“For us it was not about when we enter discount broking. Our quest was to find the right value proposition for the new generation of traders and investors. Once we arrived at ‘we care for your success’ as our main reason to be, the resulting ‘Pay When You Profit’ part was a natural outcome. We will continue to find more such promises to help people become better at trading and investing,” Sharekhan’s CEO Jaideep Arora said.