The company has claimed that it is offering the lowest and most competitive brokerage facility to users for Rs 10 for Futures and Options Trading (F & O Trading).
India’s domestic digital financial services platform Paytm announced on Thursday that its wholly owned subsidiary Paytm Money has opened futures and options (F&O) trading to all. Its objective is to empower the public with F&O trading as an important wealth management product.
The company said in a statement that it has received tremendous 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 and website for all.
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Lowest brokerage claims
The company has claimed that it is offering the lowest and most competitive brokerage facility to users for Rs 10 for futures and options trading. The company has kept zero for delivery and only Rs 10 per transaction trading fee for intraday trading, which is quite low. This fee charged by Paytm Money will be much lower for customers than other platforms.
Will make investment easier
With the price down, these experienced to first-time traders will get the benefit of trading in futures and options on their mobile with the best-in-class product in a secure environment. The F&O platform has a smooth UI and easy onboarding, which makes F&O trading accessible and possible for every Indian.
Increased interest of people of small towns
Paytm Money has said in its statement that during the early access program, the company has seen a huge interest in F&O trade from Tier-3, Tier-4 and other cities in the rest of India. The company has also registered an increase in user base and interest among women investors towards money products under 30 years. Paytm Money aims to simplify stock trading for all Indians, whether they are experienced traders or traders already investing in the market. This is the reason that the company has given the facility to invest and trade through both its app and website, which is very easy to operate.
More than 1 lakh customers of Paytm Money
Paytm Money CEO Varun Sridhar said, “We are happy to inform that more than 1 lakh users have been allowed access during the initial few weeks of F&O since the early access launch of January. There are more users of Tier 1 cities like Mumbai, Delhi, Pune, Hyderabad and Kolkata on the platform. In small cities, users of Patna, Kota and Guntur are showing interest. Apart from this, more than 50 percent of the users are between 20 and 30 years old. ” He said, “Our price of Rs 10 per order without any contract or commitment significantly reduces the overall cost of trading and also makes it super transparent. With this, Paytm Money is taking it a step further to become India’s most comprehensive and top digital wealth management platform. ”
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Advantages of F&O Trading
F&O trading is a highly competitive sector in India, hosting many old and young giants. This widespread adoption of F&O trading on Paytm Money in such a short span is of great importance to us and indicates recognition for our efforts to democratize digital trading for every Indian. With simplified trading in the futures and options segment, the platform provides ample opportunities for the user to research markets, locate market movers, create customizable watchlists and set price alerts for more than 50 stocks.
You will also get these benefits
In addition, with a built-in brokerage calculator, the investor can discover transaction fees and know the exact deterrent value to sell the shares profitably. Apart from this, to make the experience of stock trading more beneficial, advanced charts and other options like cover orders and bracket orders have been added. All this will be available with complete data privacy to protect the personal data of investors with bank-level security. In addition, the company plans to come up with more value-added features and intends to launch some more exciting products on its platform very soon.
