Mumbai (Maharashtra) [India], October 7: 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 app stores.
The Indian stock market sector faces unique challenges of its own. Only around 3-4% of the population currently trades and invests directly in stocks. Further, 70% of the demat accounts become inactive after a year as most retail investors choose to exit the market after making losses using random tips from fraudsters and unqualified gurus and doing news and rumour-based trading.
Retail investors lack the 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 has made it further confusing for retail investors as to 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, 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 leveraging 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 an 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 number of years of work experience, educational qualifications, SEBI certification, market specialization, 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 help 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 the 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.
Google Playstore Link: https://play.google.com/store/apps/details?id=com.moneyuncle.user
iOS Appstore Link: https://apps.apple.com/in/app/moneyuncle-investment-ideas/id1633189559
Website: https://www.moneyuncle.com
Contacts:
Name: Akshay Dedhia
Email: [email protected]
Phone no.:+91 88288 28181
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