Wealth-tech company Fisdom launches stock-broking services with flat fee structure, referral program

Wealth-tech company, Fisdom, has announced the launch of stock broking services to its customers. Fisdom says the new venture will offer a comprehensive product suite to the customers including Equity, Derivatives, IPOs, FPOs, Buybacks, Sovereign Gold Bonds, NCDs, Currencies and ETFs. 

As per a company statement, “Fisdom’s stock investing product will include several unique, industry first features such as Watchlist with Action List (‘Don’t miss’ alerts), Instant Order Margin Calculator, Best in class Option Chain View, Voice Search, Interface of watchlist and Portfolio for real time tracking, Advanced Charting tools and several more.”

Fisdom says it offers a competitive flat fee per trade structure for investors and an affordable subscription plan for traders for unlimited trading. “Fisdom will offer all its customers to be the brand ambassador / partners / associates and reward them for each referral via “Customers get Customers” referral program.”

Moreover, Fisdom informed, “To spearhead the stock broking business, the company has elevated Rakesh Singh to be the CEO of the broking business. Rakesh joined Fisdom in 2018 and was heading sales and distribution. Earlier, Rakesh has had leadership stints with several leading Indian and global financial institutions. He has a successful track record of launching and scaling broking businesses in multiple entities such as HDFC Securities, UTI Securities and Standard Chartered Bank. Rakesh will be supported by a team of industry experts in this venture which took just 9 months from conceptualization to go live.”

Commenting on the launch, Subramanya SV, Co-Founder & CEO, Fisdom said, “We are excited to launch stock broking services to our customers which is one of Fisdom’s strategic initiatives. We have built a highly accomplished team of industry experts led by Rakesh Singh who dedicated the last few months to developing the platform that we unveiled today. With this new service, we aim to provide best-in-class investment experience to all our customers through a complete and customized product stack.” 

Rakesh Singh, CEO, Fisdom Broking said, “I am excited to lead this new venture at Fisdom. Market for direct equity investing is growing rapidly in India. I am confident that our comprehensive product suite, competitive pricing along with robust research will help Fisdom establish as a preferred platform for investors as well as power traders.”