Be a stock trader and win a crore! This became a reality when Chaitanya Jaiswal from Indore won Rs 1 crore prize money from the much-publicised Indian Trading League.
Jaiswal, who was adjudged India’s best trader, was also made a fund manager of a million dollar fund from the ITL, according to a press release issued by SAMCO Ventures, who floated ITL. Day trader Jaiswal generated 3176 per cent returns on investment in a span of 10 months. ITL started on May 19, 2015.
Other ITL winners include Jyoti Kushwah who won India’s best Woman Trader and first runner up of ITL Traders League by generating 2266 per cent returns. She has being awarded 100 grams of gold and Rs10 Lakh cash prize. Mohammed Pulath generated 427 per cent returns thereby winning the title of India’s best Commodity Trader and prize of Rs 10 lakh.
Vishvesh Vijayvargiya has won India’s Best Investor by generating 1417% returns. He has being awarded Rs 5 lakh cash prize.
Commenting during the event, Jimeet Modi CEO, SAMCO Ventures said, “The Indian Trading League’s competitive platform ignited the fire in every market participant to perform better day-in day-out. ITL took trading to a whole new level of experience, which involved real money, real markets, real people and real returns.” SAMCO Ventures is the promoter and holding company of SAMCO Securities, a Mumbai based discount broking firm, which floated ITL.
SAMCO’s discount broking model charges a flat fee of Rs 20 per transaction irrespective of the order size, resulting in savings of over 90 per cent in brokerage costs. This flat fee structure is applicable for trading across all asset classes – equities, derivatives, commodities and even currencies.
The venture, which was being sculpted over the last one year, has already witnessed investor attention with cricketer Kapil Dev, London-based Bay Capital Founder Siddharth Mehta and others investing $3 million as Series A investors. Further, the venture is already in initial talks for Series B funding.