Indian wealth management firm BP Wealth has launched a subscription-based retail brokerage app called Stoxbox.
The move marks BP Wealth’s entry into the business-to-commerce (B2C) retail digital broking industry.
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Leveraging the firm research expertise, Stoxbox intends to simplify investing for retail investors.
The app will eliminate the need for investors to pay additional brokerage on trading in equity delivery, F&O, currency, commodity, mutual funds, ready-made portfolios, and trading calls among other services.
Stoxbox managing director Yuvraj Thakker said: “We are delighted to launch Stoxbox. We saw the problem that solid investing advice is difficult to come by. When investors accept recommendations from social media groups or watch specific YouTube videos, you run the risk of losing money.
We concluded that competent counsel is just too expensive to obtain, so we developed a subscription pricing model that does not include brokerage costs to save on brokerages and provide advice in the form of professionally curated ready-made portfolios and thematic investing.”
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By GlobalDataStoxbox is available on Google Playstore and Apple App Store.
Recent moves by Indian firms
Last week, Indian mid-market lender Vivriti Capital raised an additional $30m to expand access to mid-sized enterprises for regional and global investors.
Last month, a report by Telegraph said that India-based investment technology platform WealthDesk is gearing up to bolster its platform with the addition of regional and small brokers.
In January, wealth management solutions provider INDmoney raked in approximately $75m to transform its finance app into a one-stop solution for investments and expenses.
