In a bid to create a level-playing field for retail traders, Upstox has launched tick-by-tick (TBT) engine to provide real-time insights on order flow, market depth and trade price checker.
“We want to play a role in making retail more profitable. That’s the basic drive towards what we’re doing. The big reason why retail traders are losing money is because there is an uneven access,” said Ravi Kumar, co-founder and chief executive officer of Upstox.
In July, the Securities and Exchange Board of India (SEBI) released a study that said 7 out of 10 individual intraday traders made losses in equity cash segment in FY23. This coincides with an over 300% surge in the number of individuals participating in intraday trading in FY23 compared to FY18, as per the regulator.
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Upstox is providing the TBT engine facility in the pro mode on its platform, which specifically caters to traders. Kumar says of the 15 million users on Upstox, very few use pro mode as of now.
The co-founder of the investment platform said the company will provide this facility free of cost. “The reason we are doing that is because it is new. If we begin charging for it, not many people would take it up. I don’t think we are going to charge for it. It is going to remain free,” Kumar said.
“Tick-by-Tick data includes information like price, volume, and timestamps for each trade as opposed to data for sample trades. This ensures that no data point is missed, ensuring accuracy in pattern recognition and price triggers,” as per Upstox.
“Additionally, the demand and supply zones feature equip traders with critical data on price levels with important buying and selling interests, enabling informed decision-making,” it said.
Talking about the company’s growth plans, Kumar said Upstox plans to increase its customer base to 100 million in the next four years from the existing 15 million. “The vast majority of these new customers will be ‘invest’ customers. They will be customers that come in for wealth creation,” Kumar said.
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The company is also hopeful of diversifying its business with focus on newer areas like insurance,
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