Indian multi-asset broker app HDFC SKY onboards over 100,000 users in January
The Indian market has shown remarkable growth, attracting retail investors, high-net-worth individuals (HNIs), and foreign institutional investors (FIIs).
In January 2024, HDFC Securities, a prominent Indian investment services provider, added over 100,000 new customers to its multi-asset brokerage app, HDFC SKY.
Launched in September 2023, HDFC SKY now boasts over 300,000 users. This app is a comprehensive platform for various investment options like FX, equities, mutual funds, and global investing.
HDFC SKY offers stocks, ETFs, futures, options, FX
HDFC SKY offers a range of services, including investment and stock recommendations, proprietary research, and a margin trading facility. The app is tailored to assist investors and traders at all skill levels in engaging effectively with the financial markets to achieve their financial goals.
It provides access to a wide array of investment and trading options, covering Indian stocks, ETFs, mutual funds, futures, options, currencies, commodities, IPOs, and global equities, all through a single fintech platform. The app’s users are diverse, spanning Tier-1, Tier-2, and Tier-3 cities.
“All-in-one app for various asset classes”
Dhiraj Relli, Managing Director & Chief Executive Officer, HDFC Securities, said, “We at HDFC Securities are committed to helping our customers in their investment and wealth creation journey. We are offering a simple yet effective investment platform with cutting-edge research backed by our experienced team. We are thrilled to achieve this milestone, the development reflects the customers’ trust in the HDFC brand.”
Sandeep Bhardwaj, Chief Operating and Digital Officer at HDFC Securities said, “We are excited about the initial traction and response HDFC SKY has received. It offers a comprehensive suite of features, including an all-in-one app for various asset classes, free in-house research, and a dedicated MTF ecosystem with competitive pricing. Our latest fintech offering is an innovative and trustworthy platform to help our valuable customers in their investment journey. We will continue to refine the user experience, expand investment options, and leverage the power of technology to make investing even more accessible.”
The Indian market has shown remarkable growth, delivering double-digit returns for four consecutive years. The interim budget for the financial year 2025 forecasts a 10.5% growth in nominal GDP and a fiscal deficit of 5.1%. These figures indicate a robust environment for the broader market growth in India, attracting retail investors, high-net-worth individuals (HNIs), and foreign institutional investors (FIIs).