Online investment platform Paytm Money on Wednesday unveiled futures and options (F&O) trading on its platform with an aim to reach a daily turnover of ₹1.5 lakh crore and one million trades in the next 18-24 months.
The platform, which is a wholly owned subsidiary of Paytm, currently offers wealth management services. For F&O trading, the company said it would charge a competitive brokerage of ₹10 for all trades.
“Our pricing of ₹10 flat per order without any contracts/commitments/conditions brings the overall cost of trading significantly lower and makes it super transparent,” Varun Sridhar, CEO, Paytm Money said.
“With this, Paytm Money is taking one step further to become India’s most comprehensive and number 1 digital wealth management platform,” Mr. Sridhar added.
Paytm Money currently has more than seven million users, he said, adding that almost 50% of mutual funds and stocks investors on the platform were new to the market and more than 60% were from tier II, tier III cities. Initially, the company will give early access to a select user base on Android and Web to receive their feedback and roll out commercially to all traders and iOS users over the next few weeks.
You have reached your limit for free articles this month.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Support Quality Journalism.
*Our Digital Subscription plans do not currently include the e-paper, crossword and print.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
