Trying to raise funds to my startup.
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. 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??
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑
Playing Devils advocate here. Here are some questions you should think about:
- Why would I come to your platform to trade stocks when there is Zerodha, Groww, Angel broking, etc? they have acquired almost active traders in India currently. And the answer is not your social feature.
- With all the advanced features existing exchanges have, how much time is it gonna take you to match them
- About the social thing, did you look at Frontpage, Clubfolio? They are doing the same thing without exchange and they are struggling
- And there's already an existing alternative to your solution, telegram groups. Most people have telegram and they are very active in these telegram group. Why would I download another app? (Running ads is not the answer)
If you can think of real answers to these questions, you might have something.
And here's something that you might wanna know: Almost every idea you think of, has been tried and developed before. If you can find it, think about the reasons it failed and if you take learning from it and think you can execute it better then go for it. Ideas are cheap, execution is everything.
Thank you I did think it from the user's perspective. As I already know groww and zerodha are the current competitors and holds almost most of the users but I still want to try to give it a shot. I have really great ideas other than social trading. It does not mean that If there are competitors users don't look for a more feature rich platform right. Yeah and I have gone through some apps that offer these types of services and I see some major flaws in them and I don't mean that I'm an expert here. But as a fellow trader I know how a trader feels comfortable among other platforms. For example zerodha for day and f&o trading is a perfect choice but in the perspective of long term investment it lacks something. And they charge users for their signup and hidden charges are much to bear for a normal budget day trader. If we come to groww it has both features for f&o and long term investment but many don't prefer it for day trading because of its little complicated order placing capabilities compared to zerodha. And I'm no expert in all of this but I'm just plucking out the flaws. Even kotak started trading app but their trading engine was so poor it failed but it gained a lot of new users because people always look for something different to test their thesis for their comfortable trading and investment.
Bro Kotak has 20 years of distribution built in place. They just have to send an SMS and Email to their users and people will download their app.
But as you said it failed because the product wasn't good.
That's what I'm saying the product needs to solve real problems for users. Not a problem you think is worth solving.
Thank you. I am going to steal this idea. 😂
Please go ahead ☺️. I don't mind
Not dumb but accuracy and transaction success rate is the what that matters most. Social media aspect is a nice to have. Also, it’s focused on traders and not investors.
Idea seems interesting.
Thank you. It's just my idea there is a lot to do if I want to take a step on my further development.