Paytm Money launches stock trading service

Paytm has launched the stock trading services thereby giving competition to the discount brokers such as Zerodha, Upstox, etc. The stock trading is available in the beta version of Paytm Money App for a few android users as part of its early access program.

Details of the Stock Trading Platform by Paytm

The platform is offering the cash delivery trades at completely free of cost whereas Rs 10 is being charged for intraday trades by the company. The pricing of the trades is going to be the biggest X-factor for this application once it is launched full-fledged in the country.

The platform is going to be rolled out in a phased manner. During the Early Access Program, an incremental number of users will be given access every day so that proper feedback can be taken from them and post the feedback and market-reaction, Paytm will eventually open the access to all and sundry in a few weeks.

However, only android and web users are going to be able to access the service for now as the iOS version is not yet ready. Also, the F&O segment is yet to be activated in the application but it is to be started in the near future by the company.

What are the Features of the Application?

There are various interesting features apart from the aspect of pricing in this platform, such as:

• There is no need to remember the stock tickers as they can be accessed by name only. Tickers are the codes given to a particular stock.
• Full digital KYC with a 100% paperless account opening process.
• It will also allow doing market research, stock trading or long term investing
• The price alerts can be set for 50 stocks and the app will give notification as and when the price is reached.
• Multiple watch-lists can be created and also real-time price changes can be accessed for up to 50 stocks in each watch list.
• Brokerage calculator will be there which will show the breakeven price also to sell stocks profitably.

Month: Current Affairs - August, 2020