Last updated on January 13, 2021
Paytm Money is a mutual fund distribution and stockbroking firm from the house of Paytm. The company recently announced its entry into stockbroking, aiming to provide discount broking services to customers. Please check this honest Paytm Money Review created by our experts.
Paytm Money securities are a publicly accountable financial company providing discounted stockbroking services. The company was founded by Mr. Pravin Jadhav. SEBI, the country’s capital market regulator, gave the green flag to the company’s stockbroking ambitions. The NSE and BSE had already issued them their respective broker memberships.
Paytm Money securities provide awesome discounts and offer on its platforms to customers in cash and stock trading, ETFs, derivatives, and other traded exchange commodities.
The company traces it roots to Bengaluru, India where it was founded as an Indian e-commerce payment system that later gained prominence as a digital wallet company. The digital payment app currently supports digital payments from more than 190 banks, with physical mandates as well.
Paytm Money Brokerage Charges & Fees
Paytm Money offers one of India’s lowest brokerage demat trading account. With its flexible and affordable brokerages, it aims to completely disrupt the established ethos of levying heavy brokerage. Below is the detailed info of brokerage charges levied by Paytm Money for services such as Intraday, Delivery, Currency and Commodities, Derivatives (F&O).
- The company’s delivery segment levies no fees on trades where traders are purchasing and selling on different days. For example, you need to pay the brokerage only if you purchase and sell the stocks within the same day.
- Trading intraday is concerned to trade wherein you’re buying and selling the shares on the same day. A maximum brokerage of Rs. 20 per trade is levied depending upon the trade volume and trade value.
- The company levies the same brokerage for the Futures segment as that for Intraday trade.
- The company’s options brokerage is enticing wherein they charge a brokerage of Rs. 20 per trade irrespective of the lot size.
- One more interesting feature of Paytm money is that you can marginally maintain zero amount as and when required.
Paytm Money Demat Account Opening Charges
The account opening charges for Paytm Money Demat account are as follows-
- Paytm Money charges Rs. 300 as account opening charges.
- The company levies an amount of Rs. 250 as AMC for Demat accounts where as no AMC is levied on trading accounts.
- The brokerage firm hosts zero margins & depository service for both NSDL & CDSL.
Exclusive features of Paytm Money Demat account-
There are numerous reasons for opening a Paytm Money trading account-
- Awesome investment payment options where traders get seamless investment options with singly automated one-tap payments.
- Permissible net banking support from most of the banks all across the country.
- Paytm Money itself supports physically mandated auto payments with more than 190 banks.
- Extremely low brokerage rates are as low as Rs.20.
- Easy account opening process and less time consuming, with the whole process wrapping up within a single day.
- Smooth web trading platform & mobile trading app.
Paytm Money Conclusion
Paytm Money Securities is working hard to meet the aspirations of traders, thriving day in and out to establish its operations investment team in the domains of payment, trade, risk, depository, reserve, finance, and others.
Paytm Money is approximately 80-90% lower than conventional full-service brokers, giving tough competition even to discount brokers.
Paytm Money Review FAQs
Ques- Does Paytm Money provide a safe interface for trading?
Answer- Paytm Money is relatively newer than its counterparts but still, its payment gateway system excels largely. Traders can comfortably trust the firm with their funds and saving.
Ques- Does Paytm Money has a trading app?
Answer- Paytm Money has a full-fledged trading app that can be used seamlessly for trading orders. Their trading app is easy to use and has loads of awesome features, available to iOS as well as Android users.
Ques- Does Paytm Money offer research?
Answer- Paytm Money falls in the category of discount brokers who don’t provide advisory and research services. However, the platform provides you with freebie stock tips that many times ease out the investment process.
Ques- Is Paytm Money a good choice for beginners?
Answer- The company is quite new in the age-old list of stockbrokers, due to which they’ve aligned themselves present dynamics of the stock market. Paytm Money, being a discount broker, is highly affordable and accessible for beginners as well as big guns.