Paytm Money has announced that it has launched the option to trade F&O on its mobile and website platforms.
This change has made Paytm India's most comprehensive wealth management online platform.
With Futures & Options, the company intends to provide an entirely digital, cost-effective, and secure ecosystem to both young and experienced investors to help them trade and invest in F&O. A fully digital KYC and 100% paperless account opening process would allow them to get investment-ready quickly without hassles.
The overnight & Intraday trades can be carried out at prices as low as Rs10.
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.
The product access will roll out in a phased manner, wherein the early access will be provided to a limited number of users every day.
Post gauging user-feedback and the market's reaction, the company will eventually give open access to all its users in the following weeks. At the moment, only Android and Web users will be able to get the early access, while IoS, Linux and other users will have to wait.
The company promises hassle free account opening, with fully digital KYC and 100% paperless account setup.
No specific templated will be required to search for or add to the users watchlist on the platform. Users will also get detailed stock performance information, an in-depth financial & historical price data for every listed company on the app & website. The charting provides over 180 studies & patterns usually tracked by the pro traders all in an easy to use interface on one’s mobile.
At the virtual event, Vijay Shekhar Sharma, Founder, Paytm said, "With this feature, the company is hoping to increase its active users and has set a target of attaining an annual turnover of Rs 1.5 lakh crore and a million trades in the next two years."
The company currently boasts of over 7 million users and an annual transaction volume of over 10 million. It has its clients across almost all of India.
Varun Sridhar, CEO, Paytm Money said, "We have tried to keep the interface extremely simple and intuitive, further with the use of technology Paytm has made execution of these trades very simple on the app."
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