Click, trade, repeat: understanding the adoption behavior of young investors toward mobile trading applications in India

Purpose The present research aims to examine the adoption behavior of the young investor population in India towards the mobile trading apps, emphasizing the mediating function of behavioral intention and the moderating role of financial literacy (FL). The study seeks to point out the most critical factors of adoption while simultaneously providing the practical insights for app makers, policymakers and banks. Design/methodology/approach A structured questionnaire was given to young investors in major Indian cities, and data were analyzed using structural equation modeling to explore the relationships among performance expectancy, effort expectancy, facilitating conditions, social influence and behavioral intention. In addition, the moderating effect of FL on adoption behavior was evaluated. Findings The findings showed that performance expectancy (ß = 0.421) and facilitating conditions (ß = 0.312) are strong drivers of both the intention to use the app and the actual usage of it. FL was identified as a significant moderator, which not only strengthened the connection between effort expectancy and adoption but also increased it. Besides, social influence (ß = 0.134) was acknowledged as a factor that significantly affected the intention to adopt, thus revealing the great power of peer networks and online communities over the choices of young investors. Originality/value This study extends the Unified Theory of Acceptance and Use of Technology framework by integrating FL as a moderating construct, providing a comprehensive understanding of young investors’ adoption behavior. It offers both theoretical advancement and practical guidance for strengthening digital engagement and financial inclusion.