Paytm Money’s Stock Broking Opens For All: Trade From Rs 10, Zero Brokerage For Delivery Orders
Paytm Money has now rolled out stock broking services for all users.
Infact, Paytm is quite aggressive in targeting retail stock investors, and plan to acquire 1 million new investors by the end of this fiscal year.
You can start trading from as low as Rs 10 on Paytm Money, and there will be no brokerage charges on delivery orders.
Paytm Money Stock Trading Is Now Live For All
Around a month back, Paytm Money had launched an early access program for stock trading, in which few selected Android users were signed in.
Now, the stock trading feature is live for all Paytm Money users, who have completed their KYC.
Early access program from Paytm Money was a huge hit, and they were able to convince 2.2 lakh users to join their program.
Now, Paytm is aiming to join 10 lakh retail investors for stock trading.
This way, Paytm Money will directly compete against Zerodha, which is the largest retail stock broker in India with 30 lakh users, and processing 50 lakh orders a day, which represents almost 15% of India’s daily equity transaction volume.
Will Paytm Money be able to give a fight to Zerodha?
Varun Sridhar, CEO – Paytm Money said, “We aim to democratise wealth management services that contribute to the growth of Atmanirbhar Bharat. We believe it’s an opportunity for us to enable millennials and new investors to build their wealth portfolio. Our technology-enabled solutions help make stock investing simple and easy. We will continue to challenge the status quo and build India’s best product. We remain committed to making Paytm Money a comprehensive wealth management platform for every Indian.”
Start Trading From Rs 10 On Paytm Money
Paytm Money has introduced some very interesting features, which is sure to entice retail investors.
Here are the highlights:
- Intraday trading can be started from as low as Rs 10
- Paytm Money will charge zero brokerage on delivery orders
- Easy features to make use of Stock Charts, Track Market Movers & Company Fundamentals
- Digital KYC, paper-less account opening
- Available on iOS, Android and Web
- Features to set price alerts, subscribe to Stock SIPs, research on stocks and execute trades and more.
As per Paytm Money, the majority of the 2.2 lakh new users who have joined their stock trading platform are millennials, between age 18 to 30, and belong to both Tier 1 and Tier 2 cities from India.
Can Paytm Money disrupt $2.5 trillion stock market of India?
We will keep you updated, as more details come in.