MumbaiTrader.com is a startup that offers social investing tips to its visitors. The site attempts to build a community of pre-screened and verified advisers and investors. The verified advisers offer investing tips services to investors. Every adviser is ranked and investors although the ranking mechanism is not very clear. An investor can choose to follow an adviser based on his or her rating and track record. This Covestor.com like model has been implemented by other Indian startups such as MoneyVidya and MarketHero.
While this is a good business model in the west, it has yet to be proved in Indian context. Investments in India are still at a very nascent stage and business of advisory services requires reputation and trust. Also Indian people generally prefer to meet their advisers in person before making a huge investments.
There are some areas of the website that are less clear to a new visitor. For eg, how are the advisers screened and selected? Can anyone sign up to be an adviser or do the site offer a select panel of advisers?. There are a few usability features that could be improved to make site more marketable. For example, accessing every feature on the website requires one to login. If certain features could be opened to guests, this would help promote the site and spread the word. Overall its a good market to get in.
Good luck MumbaiTrader.com
Leave a Reply