Got a taste of Equity funds and Debit funds from mutual funds, then it’s time to cut the middle man and invest directly in companies you follow and love. Paytm Money, the digital financial services arm of India’s leading digital payment service provider Paytm, has officially added stockbroking or stock trading option on its platform.
Paytm Money Stocks offers an entirely digital, cost-effective, and secure ecosystem for direct equity investment. It wants to tap on both new and experienced investors to help them trade and invest in stocks. It’s way similar to what they have done with mutual fund investment, making the service accessible to everyone. The service is currently launched, as an early access program and you would need to signup and wait for an invite to get boarded.
Account opening process on Paytm Money Stocks is 100 per cent paperless and accompanied by full digital KYC. Thus, you could start investing in the stock market within a few minutes sitting in your home.
Currently, Paytm Money Stocks supports only intraday and delivery options. The company plans to launch Futures and Options or F&O on the platform shortly.
In terms of pricing, Paytm Money Stocks claims to offer a competitive pricing structure when compared to other established stock brokers especially, Zerodha, HDFC Securities, ICICI Securities and Upstox. You get zero brokerage (actually Rs 0.01) on cash delivery trading and intraday trades as low as Rs 10 (or a minimum of 0.05 per cent of turnover).
There are zero annual maintenance charges for your Paytm Money Stocks demat account, but there is a platform fee of Rs 300 (+GST) per year. Furthermore, Paytm Money would charge a one-time fee of Rs 200 (+GST) for doing your digital KYC.
Note that, currently Paytm Money Stocks is available only on Paytm Money Android app and its official website. The company plans to release an update to Paytm Money iOS version with the stock option in the coming weeks.
This post was last modified on August 13, 2020 7:54 pm