It's been 3 months Ig. Just came up with an idea to develop a unified trading platform with social trading for the Indian stock market. Yeah it may sound complex but it's just a normal stocks trading app but you have people to interact with when trading realtime. Just think like trading infused with social media so that users can share stats revenue profit and thoughts on stocks. Yeah at least better than trading lonely which I have experienced. I have developed a demo website and hosted it on vercel to pitch for investors. Frontend is ay no worry as I'm a frontend developer but backend and app development requires vast knowledge of different languages so we are looking for investors to contribute to our development in pre seed funding. Btw I'm situated in Bangalore. And we don't mind having members in our team. Please let me know if you guys can help us in any way. Can I really get funding for this prototype??
What exactly is the benefit of having people here?
If u trade on a daily basis you would understand and the crypto community has copy trading I was planning to do the same for stocks trading
I don't, could you elaborate
@Catshowl what is the problem statement /gap in existing market which you are trying to solve for?
Social and copy trading of stocks which currently do not exist
This is not the problem statement. This is something you feel is required and you should build.
Problem statement is
And some data /research to backup you claims to above questions
This sector was so hot at the end of 2020, saw at least 10 startups like this in India itself, us included. Check threedots, one backed by antler or EF, another named marketfeed.
Ohh kk but I do have a deep understanding of how the market works and I'm trying to bring a new type of revolutionary product which differs from current competitors. Yeah and I tried to apply qt antler due to the large number of applications they did not accept mine.
Hey, you should give it a shot, don't stop at starting up. Just wanted to give you a heads up.
Great idea really,
India street bets is a popular subreddit. Proving people want this.
Zerodha has proven out the monetisation and margins.
Risks are barriers to entry on brokerage and proving the social thesis works in practice.
If you pitch it right, and have a team with decent exp. you can totally do it.
Thank you but I don't really know where to pitch it. Although they call banglore as a startup hub I lack knowledge in this field and still seeking help from others.
First build a usable product before going for a pitch. Have at least the most lightweight basic version ready and have few users try it. Try also to get some validation from traders.
Then you can apply for startup accelerators or try for angel investments. A few VCs and programs you can apply are: Sequoia surge, Accel atoms, YC. Apart from this reach out to consultants from McKinsey, BCG etc with alignment in fintech and build connections, they'll invest as angel investments if they liked your idea and team. Remembering you ability to move fast, actually build stuff and having a great team is what matters right now not the last version of your vision or what you think your product is.
Copy trading as it works in the US is not possible in India for regulatory reasons. There are a few social platforms that have tried to build community, forums etc - threedots is an example. Investor community is not very bullish on it having seen a few of these before. Can chat more in detail if it would help. Why don’t you share your telegram / email id? That way people who read your post and can help can ping you.
This. Check for regulations. There were copy tradings which came up and then shut down due to SEBI crackdown in the past
Sure I'll be really happy to share my mail id. dveloperbobby@gmail.com
I want this -
Each trader on your platform to have a virtual fund to which clients can deploy their funds to.
The fund should not be separate from the clients own demat account. Meaning, i should be able to connect my zerodha, motilal, angel one accounts with your platform and it should show my aggregated margin.
Let me see performance charts of players (traders) and let me deploy some % my capital (available margin across all my demat accounts) distributed to these players funds, where i select the players (for now)
Bound me with minimum margin clause so that i don't pull out capital without informing your system.
I'll be happy to not only deploy my capital for growth but also would like to invest a small cheque your company.
Why i want this -
India as a nation will grow in all sectors. I want to be benefit from this growth story. I want my capital to be managed by those who approach market intellectually objectively, which i can determine from performance of traders and their theses and community talk.
I'm and I'll be lazy, under confidence to pull trigger on my demat account. This i general mask as i don't get time.
I have very conservative expectations from the platform 25-35% annualised return. No mutual funds give this and i hate doing market research myself.
😅hi I'm very glad that you pointed out these features. I did have a few in mind like connecting our platform to the trading view so it's easier to place orders through the chart and I see that the problems users face in the current market I'll be glad to note down these points thanks to you. Appreciate it.
And I would be more than happy to connect with you for any sort of references as I'm noob at these things.
I think there’s already a competitor sensibull.com
It’s a zerodha’s investment and soon will be acquired down the line and integrated in Zerodha. And yeah if you want to make the copy trading system build it in python and Rust.
OMG thank you guys I didn't expect all of you to reply and engage in this thread. I really appreciate your time spent on my post and yeah I'll try to take note of your tips.
A few friends of mine tried this in India...revenue generation will be tricky plus India is still not ready for such product
Woah that's awesome glad to talk to them about their experiences. And yeah if India is not too early to adopt those. The revenue model is not so hard as the sole revenue comes from brokerage.
Seen this? https://www.trinkerr.com/
Thank you I think it's just a little similar to my idea but I do have a larger vision except social trading that I can't reveal here sorry and thank you I got to learn new things from you.....
Leave it. Frontpage is already doing this
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