Sure does. Their business model is interestingly opaque.
How are my trades commission free?
It does not cost us or our brokerage partner to place trades, which is why we do not see a reason to charge you. Because we are a technology company with low overhead and no physical branches, we are able to make money from the revenue we earn from our merchant partners.
I saw this on product hunt and I am really doubting its credibility.
GreenTiger does not provide any investment advice and does not constitute an offer to buy or sell a security. GreenTiger will be available once its granted permission from SEBI and SEC. This waitlist does not constitute a solicitation for investment or investment advice.
The advice thing is standard. Freetrade have it at the bottom of their website too.
But it’s clear that the images are mockups and the website is just to gather email addresses. Perhaps they’re just gauging interest or want to use them to raise capital. Who knows.
Potentially payment for order flow
Thats the part that got me thinking… i do believe that their app isnt ready, they must be collecting emails to probably raise capital to actually make it.
Doubt I’ll be moving to India anytime soon though
Green Tiger - Doesnt this look exactly like freetrade?
I guess all these apps (inc FT) look like RH…this one is even green
The population in India is around 1.3 billion. If they manage to get this app right, they can make serious money.
India is mainly a cash economy, even with the policies to curb tax evasion such as changing of bank notes and requirements of bank accounts, majority of 1.3bn people still hold just physical cash.
I guess if they can get in early and corner the market while the transition to digital is happening, could be lucrative over the long term