Mumbai: HDFC Securities unveiled its discount brokerage platform, Sky, on Monday, as it aims to compete with established players such as Zerodha, Groww, Angel One, and Upstox among others. Sky is offering brokerage services at ₹20 per trade for intraday and delivery transactions across segments. Additionally, it will offer Margin Trading Facility (MTF) at a rate of 12% per annum.
“The app will provide access to a wide range of investment and trading offerings, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities on a single Fintech platform,” said the firm in a release. “What sets HDFC Sky apart is its cutting-edge technology,” said Dhiraj Relli, managing director, HDFC Securities
In recent years, various well-established traditional brokerage firms have ventured into discount broking business.
Last year, Kotak Investment Advisors, a subsidiary of Kotak Mahindra Bank, introduced ‘Kotak Cherry’. In 2020, Sharekhan diversified its portfolio by entering the discount brokerage segment, unveiling the ‘Espresso’ platform.
