Paytm Money, the digital financial services arm of mobile wallet company Paytm, today expanded its business by launching stock trading on its platform. Initially available in beta, stock trading on Paytm Money is touted to enable cash delivery trades for free, while it charges intraday trades at as low as Rs. 10. The new launch comes nearly two years after Paytm Money started allowing mutual fund investments. The move would bring Paytm to the competition that already has established players including HDFC Securities and ICICI Securities as well as existing players such as Fyers, Groww, and Zerodha.
This new addition will benefit experienced as well as first-time investors to seamlessly invest and trade in stocks in a completely digital & secure environment, the company said. Varun Sridhar, CEO – Paytm Money said, “With the addition of equities, Paytm Money seeks to drive financial inclusion among investors by removing information gaps and facilitating stock penetration in the country.”
“In India, a limited number of people directly invest in equity markets. With the launch of stock trading, Paytm Money aims to drive higher penetration in equities investing with an easy to use the product, low pricing (cash delivery trades are free with intraday trades as low as Rs 10) and digital KYC with paperless account opening,” he added.
To begin with the new experience, Paytm Money has brought cash and intraday trading to its Android and Web users, though users on iOS will need to wait for a few weeks. There are also plans to bring a dedicated derivatives segment at a later stage. Moreover, Paytm is aiming to drive higher penetration inequities through the latest development.
Here are some of the features of Paytm Money Stock Trading
- Competitive Pricing – Zero Brokerage on Delivery Trading with intraday trades as low as ₹10
- No need to remember stock tickers. You can search for stocks by name
- Fully digital KYC with a 100% paperless account opening process
- Paytm Money App will also allow doing market research, stock trading or long term investing
- You can set up price alerts for up to 50 stocks. The App will notify you when the price is reached
- Create multiple watchlists & track real-time price changes of up to 50 stocks in each watchlist
- SIP Management – Like its peers, Paytm Money also allows setting weekly/monthly buy orders & automate your stock investing
- Get in-depth financial & historical price data for every listed company
- Investing & Trading – Do Intraday & Delivery. Explore advanced options like Cover Order & Bracket Order
- Brokerage Calculator – This feature allows users to discover the transaction charges & exact breakeven price to sell stocks profitably