HDFC SKY Reaches Milestone: 1 Lakh Active Clients and Counting
· Young Investors Lead the Charge: 65% of HDFC SKY’s Active Clients are 18-35 Years Old
Bangalore, 28 June 2024: HDFC SKY, the discount brokerage platform from HDFC Securities, has achieved a significant milestone of 100,000 active clients. This rapid growth underscores the platform’s appeal in India’s competitive investment landscape, particularly among younger investors, with 65% of active clients falling in the age bracket of 18-35 years. This demographic shift highlights the growing interest in financial markets among millennials and Gen Z investors and the paradigm shift in increased digital adoption.
HDFC SKY benefits from the trust and reliability associated with the HDFC group, one of the most respected financial conglomerates in India. Ranked amongst the top apps in the country, HDFC SKY stands out for its innovation, user-friendly design, and comprehensive service offerings, making it a preferred choice for many investors and traders. With over 1 lakh active clients, HDFC SKY has rapidly gained traction in the market, positioning itself as a strong competitor to established discount brokers.
Dhiraj Relli, MD & CEO, HDFC Securities, commented on the milestone, “Reaching 100,000 active clients within a remarkable turnaround time showcases the trust investors place in the brand legacy and our commitment to democratizing accessible investing. Interestingly, 91% of HDFC SKY’s customers hail from tier 3 cities, indicating the platform’s strong reach in diverse regions across India. This reflects the evolving digital adoption by Indian investors who seek technology-driven solutions backed by established expertise.”
Sandeep Bhardwaj, CDO & COO of HDFC Securities, said, “HDFC SKY offers a unique combination of discount brokerage pricing and robust research insights. Our platform provides free access to recommendations from our team of expert analysts across retail, commodities, institutional, currency, and more sectors. Our recommendations are easily accessible through the HDFC SKY app and are free for our customers. For those new to trading or looking to expand their portfolio, our MTF feature allows investors to trade even without immediate funds available. And for seasoned traders, there are advanced tools for a seamless experience. The app is currently trending with a user rating of 4.6 on app stores”
The platform offers research recommendations from a team of expert analysts across retail, commodities, institutional, currency, and more. These recommendations, easily accessible through the HDFC SKY app and available for free to HDFC SKY customers, are divided into three categories:
Intraday – For daily trading.
Technical – For a three-month period.
Long-term – For three to five years.
HDFC SKY provides access to over 2,000 mutual funds schemes, 3500+ listed companies and 100+ ETFs, enabling users to diversify their portfolios with ease. For those who do not have immediate funds to trade, the competitive Margin Trading Facility (MTF) at 15% per annum is a valuable feature, enabling users to trade on margin. HDFC SKY investors and traders can avail the competitive pricing of a flat fee of Rs. 20/ order for Equity and F&O.
One of the standout features of HDFC SKY is the Forecast View, which empowers users to select their market sentiment—whether bullish, bearish, range bound, or volatile. Based on this input, the platform generates a curated list of option trading strategies, complete with key metrics such as Max Profit, Max Loss, Funds Required, and Breakeven Point. This feature allows users to make informed decisions quickly and execute strategies with a single click. Advanced analysis tools, including pay-off graphs and tables, help visualize potential profit and loss, ensuring users are always in control.
The platform provides access to a diverse array of investment options, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities. Users can effortlessly navigate the app to explore and utilize various trading and investment offerings, making it a comprehensive Fintech solution.
HDFC SKY is accessible to all investors and traders, offering a competitive flat fee of ₹20 for both intraday and delivery trades across all segments. The platform eliminates the barriers to entry by offering zero account opening and maintenance charges for the first year, ensuring that users can begin their trading journey without incurring initial costs.
HDFC SKY integrates TradingView, offering traders a choice between TradingView and ChartIQ for their charting needs. This flexibility, combined with comprehensive performance tracking in the ‘Positions’ section, enhances the user experience.
