Paytm Money opens F&O trading for all at Rs 10, receives over 1 lakh early access requests
- Over 50 percent of the trading
requests from users under 30 years of age
- Tier-II, Tier-III cities including
Patna, Guntur, Kota, see maximum traction in trading
- Built-in Brokerage Calculator helps
discover the transaction charges & exact breakeven price to sell
stocks profitably
India's homegrown digital financial services platform Paytm today announced that its wholly-owned subsidiary Paytm Money has opened Futures & Options trading for all. It aims to empower the masses with F&O trading as an important wealth management product. The company said that it received an overwhelming response for F&O trading on its platform with over 1 lakh requests for its Early Access Program. Trading is now live on the Paytm Money app & website for all.
The company said that it has enabled users with the lowest and most competitive
brokerage at Rs. 10 for F&O, which is in line with its intraday charges of
Rs.10, and zero for delivery. The pricing disruption will benefit
experienced as well as first-time traders to seamlessly trade in futures &
options with a best-in-class product, on their mobile and in a secure
environment. The F&O platform has seamless UI and easy onboarding that
makes F&O trading accessible and feasible for every Indian.
Paytm
Money said that during the Early Access Program the company witnessed massive
interest coming from tier-III, tier-IV, and the rest of India towns in F&O
trade. It has also seen a rise in interest in wealth products in the user base
below the age of 30 and women investors. Paytm Money aims at simplifying
stock trading for all Indians, be it seasoned traders or new to a market
investors by offering them the flexibility to invest and trade via both the app
and its website.
Varun Sridhar, CEO - Paytm Money said, “We are delighted to share that more
than 1 lakh users were granted access during the first few weeks of the F&O
early access phase in January after its early access launch. The platform
witnessed greater adoption by users from Tier 1 cities such as Mumbai, Delhi,
Pune, Hyderabad, and Kolkata. Amongst the smaller cities that showed maximum
interest were Patna, Kota, and Guntur. Additionally, more than 50% of
users belonged to the age group of 20-30 years. Our pricing of Rs 10 flat
per order without any contracts or commitments brings the overall cost of trading
significantly lower and makes it super transparent. With this, Paytm Money
is taking one step further to become India’s most comprehensive & top
digital wealth management platform.”
F&O Trading in India is a highly competitive arena that hosts a number of
old and young players. This widespread adoption of F&O Trading on Paytm
Money in such a short span holds considerable significance for us and indicates
recognition towards our efforts to democratize digital trading for every
Indian. Along with simplified trading in the futures and options segment, the
platform offers ample opportunities to the user to research the markets,
explore market movers, create customizable watchlists, and set price alerts for
as many as 50 stocks.
Also, with the built-in Brokerage Calculator, the investor can discover the
transaction charges & know the exact breakeven price to sell stocks
profitably. Besides, the Advanced Charts and other options like Cover Order
& Bracket Order have been added to make the stock trading experience more
rewarding. All this and a lot more would be available with absolute data
privacy to keep investors’ personal data safe with bank-level security. Apart
from this, the company is planning to come up with more value-adding features
and intends to launch a few more exciting products on its platform very soon.
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