Paytm Money Launches Stock Broking: Start Intraday Trading At Rs 10; Free Delivery Trades
Indian e-commerce payment system and financial technology company, Paytm, has announced that they will be launching a platform for stock trading in beta mode.
How will the Paytm stock trading platform function? Read on to find out all the details!
Paytm Launches ‘Stock Broking’ In Beta Mode; Claims To Simplify Investing Process
As per a press release by Paytm, the platform, Stock Broking, has been launched in the beta mode of Paytm’s online investment & wealth management platform Paytm Money.
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.”
He also said that in order to achieve this, the app would provide in-depth financial and historical price data for every company that is listed. This will make sure that investors will be able to research the stock market by themselves.
As per Sridhar, the platform of stock trading simplifies the whole process, making it convenient and helps in quick investment. It will also help the user make an informed decision while trading.
Stock Broking: Start Intraday Trading At Rs 10, Free Delivery Trades, And More!
Paytm Money intends to get higher penetration in equities through Stock Broking. The platform will be easy to use and offer low pricing with digital KYC and paperless account opening. The cash delivery trades are free with intraday trades costing as much as Rs. 10 only.
As per reports, cash and intraday trading has already been introduced in the beta mode whereas the derivatives segment will be launched later.
There will be multiple features on the Stock Broking platform that will help investors in their stock trading process.
The platform will come with Smart Search & Notifications, where users can research and also set price alerts for 50 stocks and be notified when that price is achieved. Another feature will be that customers can create multiple watchlists and customize them in order to track real-time price change for about 50 stocks. Also, investors can automate stock investing by scheduling buy orders on a weekly or monthly basis.
There will also be a built-in brokerage calculator where customers can find out the transaction charges and calculate the exact breakeven price which will help them to sell their stocks at a profit.
There will also be advanced charts, cover order, bracket order and other options that will make the entire experience much better. .
Paytm Money also promises data privacy – users’ personal data will be safeguarded with bank level security.