Gift vouchers, trading credits: Brokers scramble to attract clients

They are spending Rs 2,000 per head to attract customers

With nearly a million accounts being opened every month, brokers are scrambling to attract investors towards their platform. Amazon gift vouchers, trading credits, and bundled offerings are some of the sops being doled out. Besides, many players have sweetened their referral programmes, incentivising their existing clients to bring new customers.

To cash in on the boom, many brokerages are spending up to Rs 2,000 to bring new clients on board. As most new entrants are in the 20-30-year bracket, industry players have upped the ante with online advertising and social media campaigns. To edge out rivals, brokerages are said to