IIFL Securities Ltd, one of India’s leading broking and advisory firms today said that its stock broking app – IIFL Markets has added over 5 million users making it one of India’s most used stock broking apps. The app aims to reach 10 million users in the next two years.
IIFL Securities earns more than 50% of its broking revenue from IIFL Markets app, while more than 60% of customers use this app as primary channel for investing with IIFL.
IIFL Markets app is India’s most comprehensive investing app with best in class research on over 500 + companies, largest coverage by any Indian broker. The app has innovative features like screeners, chart trading, AI powered personalized news, SWOT analysis, conversational bot and caters to all customer segment types.
IIFL Markets app gets 87% of its users from Tier 2, Tier 3 and even smaller cities. About 70% of users are under the age of 35, while 40% are first time users. Women users make 20 % of the pool.
IIFL Markets is also the most collaborative app in the industry offering products like Smallcase which offers a basket of stocks for investing, Sensibull, which is India’s No1. Options trading software, Trendlyne, India’s leading stock screening and insights platform and MarketSmith, world’s leading equity research platforms
Mr. Sandeep Bhardwaj, CEO, Retail, IIFL Securities commenting on the milestone said, “IIFL Securities has been a leader in technology-backed disruption in Indian broking industry. Our app provides an end-to-end hassle-free investing ecosystem to 5 million customers based on our 25-years of experience in providing customers with delight.” The app is developed and managed by an in-house team of over 100 and continues to add new technology and innovations frequently to sustain its leadership position.