Paytm’s wholly owned subsidiary, Paytm Money has launched Futures & Options trading (F&O) on its platform. The platform will also provide Direct Mutual Funds, Digital Gold, IPO, ETF, Stocks, and NPS. The brokerage charged for F&O trading will be INR 10, without any contracts, or packages, or commitments. This goes parallel with free for delivery and the intraday charges of INR 10.
For the time being, the company will only give access to a selected userbase on Web and Android and will receive their feedback. For iOS users and commercial roll out to all traders within the next few weeks. With this new launch, the company is expecting a million trades everyday and a daily turnover of INR 1.5 lakh crore in the coming 18 to 24 months.
The user interface is very minimalistic and doesn’t confuse the users or create unnecessary complications in the process. There are more than 180 charting studies and patterns tracked to use interface in one’s mobile.
Vijay Shekhar Sharma, Founder & CEO said, “On the mission to bring wealth services to 100 million Indians, the launch of F&O will accelerate our path. 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, “We are very happy to launch a best in class F&O platform with a super-fast experience, simple interface, built on the cloud to ensure stability, advanced charting & features to support high-frequency traders and most importantly making it simple for new traders to buy their first FNO contract. 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. We are eagerly looking forward to bring thousands of new traders to the markets. With this, Paytm Money is taking one step further to become India’s most comprehensive & #1 digital wealth management platform.”