Last month, MyValueTrade spokesperson Sajeev Sasidharan declared that the mission of his organization was to include the middle class in the growth story of the Indian stock market. For him, it was unacceptable that less than 0.1% of the Indian population traded actively despite skyrocketing indices.
Now, they’re walking the talk. A couple of weeks back, MyValueTrade quietly rolled out a new version of their trading platform based on HTML5.
“Most Traders like to use the good old desktop for trading. The problem is that almost every retail trader has a day-job, and in a lot of organizations, it is impossible to open the trading platform because they do not allow installation of Java or Flash. This means that a lot of retail traders are missing out on most of the action in the market, and thereby, most of the money making opportunities,” said Sajeev Sasidharan, spokesperson at MyValueTrade.
MyValueTrade’s new platform does not need Java or Flash to function. This is truly game changing for a lot of the traders with day jobs.
HTML5 has now unquestionably become the standard across the Internet, thanks to its ability for providing rich multimedia functionality on desktop-based web browsers. It also makes the platform very lightweight, which is an excellent quality in a country where high internet connectivity continues to remain a challenge. The ability of the platform to work in any web and mobile browser is another advantage. It’s also sophisticated enough to allow traders to look at multiple screens at the same time, thereby aiding their decision making process.
With its latest move, MyValueTrade has again acted as one of the pioneers in an industry that has spawned a number of other firms eager to take part in the discount broking wave. It’s pricing remains amongst the lowest in the industry, and it has been offering several features such as margin funding that its competitors are still struggling to offer.
Sajeev says, “Virtually none of our competitors offer the HTML5-based trading platform. Most of the traders using discount brokers are experienced and like to look at a lot of factors before making a trade, so mobile just doesn’t cut it for them.”
So how does this further their stated mission of democratising trading? MyValueTrade identifies the cumbersome process of trading as one of the major reasons the middle class doesn’t trade more often. “Investing should be a habit, but for it to become one, it needs to be simple enough to enter the daily life of the user without taking up too much time/effort. As Sajeev said, “With the HTML5-based browser, we have significantly reduced the friction and hopefully made it a good deal easier for users to acquire this habit.”