The Dhaka Stock Exchange experienced a significant decline in the number of users of its mobile app over the past years, as the app only had 32,900 registered users by the end of the 2023-24 financial year compared with that of 46,622 users recorded in FY23.
The number of users of the DSE mobile app was 77,949 in FY22.
The DSE introduced its mobile app-based share trading platform on March 9, 2016 with an aim to making stock trading more accessible and convenient for its users.
An investor needs to register with a broker first and then one can use the mobile app on his/her mobile phone.
Available on the Google Play Store, the app offers a variety of features, including tracking market indices, accessing market and company information and staying up-to-date with real-time data.
Despite these features, the app has struggled to maintain its user base.
Md Ashequr Rahman, managing director of Midway Securities, told 抖阴精品 that about 4,000 of his company鈥檚 clients registered on the mobile app, but the number declined to almost 2,000 recently.
鈥楾he primary reason is the fee charged by the Dhaka bourse. Every registered user of the mobile app has to pay Tk 125 monthly subscription fee, which discourages them from using the app,鈥� Ashequr said.
鈥楽ome of the investors have investment of only Tk 10,000 on the market. How would that investor be able to use the app with Tk 125 monthly fee?鈥� he asked, saying that majority of the clients did not have the capability to afford the fee.
The DSE mobile app was completely free of charge when it was first launched, but the bourse began to charge newly registered users since July 2023 due to the dull market situation at that time. Since January this year, old users also have to pay the fee.
DSE independent director Md Afzal Hossain agreed that the charge might be a reason for the users unsubscribing from the mobile app.
鈥楤ut, we do need money for maintenance of the app. And the fee is not the only thing discouraging clients from using the app,鈥� he said.
鈥楾he market has not been performing well; the economic situation of the country is also in a bad situation which affects the investors鈥� sentiment, with global conflicts worsening the situation. All of these reflect the current state of the number of registered mobile app users,鈥� he said.
Afzal further added that the DSE was making moves to improve the situation and the bourse hoped that once the market returned to an upward trend, the user number of the DSE mobile app would increase.
The Dhaka bourse witnessed a decrease of total of 914.47 points from its key index from the start of the year till June 30, the end of FY24, and a decline of Tk 1,18,667.54 crore in total market capitalisation during the same period.