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Good news for investors ..!!!!
Retail brokerage Sharekhan has announced their entry into the discount broking space with Espresso, which offers no fees, if the trade ends in losses.
The basic idea is to help clients succeed by ensuring that they have more money in their hands by not paying brokerage on loss-making intra-day trades or simply put “pay-when-you-profit-pricing model”.
Discount brokers like Zerodha and 5paise have eaten into the business of traditional full-service players. Sharekhan said that Espresso will be a separate company. The new platform was announced three months ago as a Beta testing format.
However, Espresso does not believe that discount broking should be all about lower brokerage as it believes in helping investors end up making profitable trade. Also, there will also be no brokerage on delivery trades.
The service will be free for all types of trades for the next three months, if a customer opens a demat account with Espresso before 22nd October 2020. Espresso Chief Customer Officer Kalyanaraman said a customer can pay ₹20 per order across equity, future and options, commodities and currency, and the brokerage waiver is only on one side (buy/sell) of the order and also there is zero delivery brokerage.
The company is also offering an inaugural offer of 50% discount on trade booster programme, which is a week-long online course to learn disciplined trading.