Mumbai, Maharashtra Sep 22, 2023 (Issuewire)
Wealthtech start-up Moneyuncle has launched India's first idea sharing and Q&A marketplace platform for do-it-yourself retail traders and investors in the stock market. They connect users to curated and vetted SEBI Registered Experts (Investment Advisors and Analysts). Users can get trading and investment ideas and also ask their stock queries to these experts on the MoneyUncle app available on Android and iOS appstores.
The Indian stock market sector faces unique challenges of its own. Only around 3-4% of the population currently trade and invest directly in stocks. Further, 70% of the demat accounts become inactive after a year as most of the retail investors chose to exit the market after making losses using random tips from fraudsters & unqualified gurus and doing news and rumour-based trading.
Retail investors lack time required for research, access to proper resources and knowledge to make informed decisions on which stocks to buy/sell and when. Not to mention, the overwhelming presence of self-proclaimed investment gurus and influencers on social media have made it further confusing for retail investors whom they should trust and follow to invest their hard earned money.
"Our mission is to help 100 million+ retail traders and investors get started in the stock market and make better trading and investing decisions and grow their wealth. We aim to do this by connecting our users to vetted, qualified, knowledgeable and well experienced SEBI Registered Experts and leverage technology and digital mediums to facilitate trading and investment idea sharing and Q&A interactions between them," said Akshay Dedhia, Co-Founder and Head of Partnerships, MoneyUncle.
SEBI Registered Experts are on-boarded on invitation basis only and have to go through a vetting exercise before they are listed on the app. The platform evaluates these experts on different parameters like total no. of years of work experience, educational qualifications, SEBI certification, market specialisation, personal trading and investing style, size of personal advisory practice and past performance.
Further, the platform has developed its own reputation metrics like Win Ratio, Past Returns and Q&A rating, which helps users decide which experts they can trust and follow to get trading and investment ideas to build their stock portfolio. "We hope to bring full transparency and win trust of retail investors through these reputation metrics," Dedhia added further.
MoneyUncle brand and apps are owned by its Mumbai-based parent company, ValueHacker Technologies Private Limited.
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