The Dhaka Stock Exchange (DSE) has witnessed a slight increase in its mobile app users since introducing a monthly fee of Tk 125 per user in July. In May, inactive users had their registrations canceled, leading to a decline in app users from 75,651 in April to 45,726 in May. By September 24, the number of app users rose to 48,142, including new subscribers paying the fee.
However, some stock brokers anticipate a drop in users starting in January, when the fee will apply to existing users. They argue that the fee is high, considering the market’s challenges, and suggest negotiating a reduction with the app vendor, FlexTrade Systems. Despite this, transaction volumes through the app have been significant, contributing to the daily market turnover. Before the imposition of the fee, the DSE kept users limited to 80,000. In July 2022, the DSE extended its capacity to allow users up to 300,000.
The DSE has attempted to negotiate lower fees with the vendor, but without success. Some brokers offer their own free mobile apps, and the DSE plans to phase out its app when more brokers have their own.
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