Shreyas Kulkarni

“Halwa hai kya?” asks Samco Securities while spoofing Upstox in a new campaign

The campaign introduces the discount broker's ‘KyaTrade’ app which offers “real-time trading ideas”.

That people are investing their money into the stock markets more than ever is no random statement.

Business Standard reported on March 25, 2021, that the number of “active investor accounts rose by a record 10.4 million in 2020, according to the data from the country’s two main depositories (they hold your demat accounts that are mandatory to start trading).”

So, we were not surprised to see discount brokers releases ads encouraging folks to download their apps and start trading. These brokers offer you a platform to invest in and charge a flat fee for your trades. They compete with full-service brokers who, apart from letting you trade in various markets, offer other services, such as tax planning, retirement planning, etc.

As per The Hindu Business Line in October last year (2020), industry estimates suggested the market share of the top five discount brokers in the overall equity and commodity markets broking commission pool was now about 18-20 per cent.

Zerodha, Samco Securities, Upstox, Groww, 5Paisa, Angel Broking are the leading players in the market.

Last week, Samco Securities released two ads to promote its ‘Kya Trade’ product that, as per its website, offers you “real-time trading and investing ideas instantly.” You can choose to agree with the trades or not with a left and right like dating apps Tinder or Bumble.

What’s eye-catching about the ads is the fact that they mimic Upstox’s ads and then go on to take shots at it a la magicpin versus CRED.

We also came across an ad from Groww which seems quite similar to Upstox’s ads.

Chirag Joshi
Chirag Joshi

“The truth is that there are upsides and downsides of investing in stock markets and it’s not a piece of cake. You work hard and learn with the help of expert advice…” remarked Chirag Joshi, Samco Securities’ chief marketer.

Also Read: Upstox lures potential traders with ease of usage as people begin to warm up to the financial markets

It’s the “expert advice” (read KyaTrade) bit that Samco stresses in its ads because people can download a trading app but they do not know what to trade.

Joshi revealed they had spoken to a lot of customers and friends in the broking industry and in casual conversations, the insight they gleaned was “stock market halwa thodi hai.”

He went on to say that it’s a bull market that there is a good chance, you will make money but the principal question is, “I have opened an account, what to trade?”

These are the insights that triggered the campaign the CMO tells us.

When we looked at KyaTrade’s website, we read that it was aimed at intraday traders. In this form of trading, the buying and selling of stocks happen on the same day; it’s not recommended for first-time traders. So, it did feel odd to see it being targeted to people who are new to the stock markets in the Samco Securities’ ads.

Responded Joshi, “We check if someone does not have a capital of Rs 2 lakh or Rs 3 lakh in his/her ledger, we discourage them from choosing our Intraday plan… There are a lot of interaction points where a customer is told that this plan is strictly for professional traders who can commit to the markets from 9.15 am to 3.30 pm.”

He went on to reveal that even if a customer subscribes to the intraday plan, there is a double-warning system to inform them that this plan is not for newcomers. So where do the newbies go? There is the “investment plan which is for everyone.”

Before he signed off, Joshi told us the brand’s philosophy was that whatever product they make, they will put all their knowledge they have of the market in it. “We have to make products that will assist users to create wealth.”

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