Paytm Money rolled out stock trading services through its application earlier this week on Monday. The largest mobile wallet company already had mutual funds and National Pension Scheme or NPS in its portfolio. The stock trading option can be accessed by android users for now. The company is working on to allow stock trading for iOS users as well. Paytm Money received approval to start stock broking from Sebi in December last year. Here are the key features.
- Paytm Money supports 100% paperless account opening and a fully digital KYC process. The process of setting up an account and KYC compliance will take 24 hours.
- You can set price alerts & create multiple watchlists to track real-time price changes of up to 50 stocks.
- You can get details on market movers on the basis of top gainers, top losers, movers by value & volume.
How to Open Demat Account with Paytm Money?
Follow the steps to open a demat acount with Paytm Money.
- Click on ‘Open Demat Account’ and fill up the form.
- You will receive a call from Paytm executive. You will then get a link on your mobile via SMS and on your email id.
- Go to the link and complete your KYC. You will need a few documents like your PAN , Aadhaar for the KYC process.
- You will receive your client id and password in 24 hours after completion of your KYC process.
Charges for Paytm Money stock broking platform
Paytm Money charges an account opening fee of ₹300 and ₹200 for digital KYC. Here is the pricing model of Paytm Stock broking services:
Trading charges- Delivery based trade
Intraday trading charges