The News Scroll 22 September 2020  Last Updated at 4:06 pm | Source: PTI

Sharekhan enters discount broking with Espresso offering no brokerage on loss-making trades

Sharekhan enters discount broking with Espresso offering no brokerage on loss-making trades
Mumbai, Sep 22 (PTI) Retail brokerage Sharekhan, which is owned by French banking major BNP Paribas, on Tuesday announced its 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'', the brokerage told reporters on a conference call.

Discount brokers like Zerodha and 5paise have eaten into the business of traditional full-service players.

Sharekhan said 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 October 22, Sharekhan Chief Executive Officer Jaideep Arora said.

Espresso Chief Customer Officer R Kalyanaraman said a customer can pay Rs 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 per cent discount on trade booster programme, which is a week-long online course to learn disciplined trading. PTI BEN HRS

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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