Stock broker Zerodha to give equity, ETF SIP option to investors
Online Stock broker Zerodha on Thursday launched its in-demand 'beta' feature that will allow investors to set up systematic investment plans (SIPs) for their preferred stocks and exchange traded funds (ETFs).
The feature will be 'soon available' on Kite mobile, Zerodha CEO Nitin Kamath said in a tweet.
"The feature will help investors set up SIPs on their preferred stocks and ETFs at regular intervals, just like a mutual fund," Kamath wrote.
When the feature will be live, the users will have to add their preferred stocks or ETFs to a 'basket', and then set up an investment schedule of their choice.
The investors can add both stocks and ETFs of one or more companies to the 'basket'.
The move has been already well-received by users who commented on Nithin's Twitter post that the option which allows users to customise and invest in equity and ETF SIPs cements the startup's position as a leader in the online brokerage space.
smallcase is another such online equity investing platform that allows the investors to set up SIPs for ETFs and stocks.