Mumbai, July 11, 2024: SEBI-registered stockbroker 021 Trade has introduced three new app features—Buffett Mode, Anchor, and Co-Captain—aimed at reducing impulsive trading and encouraging long-term investment behaviour among retail investors.
The launch comes amid heightened regulatory scrutiny of dark patterns in financial apps and ongoing concerns over retail investor losses. 021 Trade said its new tools are designed to help users trade less rather than more, marking a shift from typical industry practices.
Features to address behavioural biases
Buffett Mode, one of the new features, hides live prices and unrealised profit and loss figures to help users avoid behavioural biases and short-term decision-making. Anchor allows investors to voluntarily lock themselves out of trading for a selected period, with a mandatory pause before they can resume activity. The Co-Captain feature enables users to nominate a trusted individual who can temporarily pause their trading access.
Focus on responsible product design
021 Trade’s approach aligns with ongoing discussions in behavioural finance and investor protection, as regulators and industry participants debate responsible product design in fintech. The company said these features are intended to counteract common triggers of impulsive trading and promote more considered investment strategies.
“We believe that empowering users to take control of their trading behaviour is essential for long-term financial well-being,” said Eshaan Lazarus, Co-founder and CEO of 021 Trade.
Regulatory context for fintech apps
The move by 021 Trade follows increased regulatory attention on the use of persuasive design and dark patterns in financial technology platforms, with authorities seeking to protect retail investors from excessive risk-taking and losses.
Disclaimer: This article is based on a press release provided by the concerned organisation and has been edited for style and clarity with the assistance of AI tools. BusinessFortnight does not verify, endorse, or take responsibility for the claims, figures, or statements made in the original release.
