Paytm Money launches trading in futures and options on mobile app
Online investments platform Paytm Money has announced launch of the trading in derivatives – futures and options listed on Indian stock exchanges. This is in addition to the existing investment options such as stocks, exchange traded funds, initial public offer, direct plans of mutual fund and national pension system and digital gold. The investors will be charged brokerage at the rate of Rs 10 per order.
With the launch of F&O on its platform, Paytm Money is aiming at an overall daily turnover of Rs 1.5 lakh crore and 1 million trades a day in the next 18 to 24 months. Vijay Shekhar Sharma, Founder & CEO said, “This has been made keeping the mobile-first platform in mind. The simple to use low price product is meant to make deep inroads into smaller towns and cities.”
Varun Sridhar, CEO – Paytm Money said, “Our pricing of 10 INR flat per order without any contracts/commitments/conditions brings the overall cost of trading significantly lower and makes it super transparent.” Paytm Money charges zero brokerage for deliver trades and Rs 10 per order for intraday trades.
Paytm Money has ensured that while it provides for all the features required for a derivative trader, it does not complicate the user interface for a simple investor or a newbie trader which is unique in the industry. The charting provides over 180 studies & patterns usually tracked by the pro traders all in an easy to use interface on one’s mobile. The price alert feature allows traders to get real-time alerts on any FNO contracts. While Paytm Money provides for various calculators, traders can seamlessly check the required margin while placing an order for any contract. Searching for a contract or option on the platform is a breeze & no specific templates are required for the search or addition to watchlists. The dark & light modes across mobile & web platforms provide convenience to traders who are particular about the background colours & fonts. Tracking orders & execution from the Position page has been made very simplistic & engaging. The product hosted entirely on cloud and developed with Paytm’s well-known technology principles will ensure the platform is smooth, fast and can manage very large volumes – an important technology disruption in the wealth management space.