Paytm Money said that it had received an overwhelming response for F&O trading on its platform with over 1 lakh requests for its Early Access Program.
Representative image: Reuters
Paytm’s wholly-owned subsidiary Paytm Money has opened Futures & Options trading for all. The reason to introduce it is to empower the masses with F&O trading as an important wealth management product, the company said.
Paytm Money said that it had received an overwhelming response for F&O trading on its platform with over one lakh requests for its Early Access Program.
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 company added.
The company said in a statement, “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.”
The company witnessed massive interest coming from tier-III, tier-IV, and the rest of India towns in F&O trade during the Early Access Program. 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’s target is to make hassle-free 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, the company 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 ?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”, Varun Sridhar, CEO – Paytm Money said.
