Angel One is closing the gap behind Zerodha in terms of active users.

What Happened: Moneycontrol reported citing NSE data that Angel One’s active investors reached 71 lakh in August adding 1.6 lakh investors in the month. Zerodha’s active users were at 79 lakh, an addition of 80,000.

The stock exchange calculates active investors based on trades they make. If an investor made a single trade in a year, they are termed an active investor. India has around 5 crore active investors.

Groww, the brokerage firm with the highest number of active investors reached 1.2 crore in August.

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Competition was fierce among other brokerages as well. Dhan, a stock broking app steered by former Paytm executive Pravin Jadhav, added 60,000 investors in August, elevating its active user base to 7.4 lakh. In the process, the brokerage entered the top 10 brokerages with active users.

In contrast, Paytm Money has been on a downward trend, losing 17,500 customers in August, which brought its active investor count to approximately 7.3 lakh. The company has been shedding over 10,000 active investors each month since April, resulting in a loss of 60,000 customers.

Paytm Money’s slide has resulted in it losing its place among the top 10 brokerages with active investors in India.

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