Paytm Money has opened Futures & Options trading at Rs 10 on its app.
“We have kept it very easy for all to open their trading & Demat accounts using our 100% paperless process and have enabled a fully digital KYC.
At the same time, we are ensuring that it comes at the right pricing for our users. Users can enjoy all the trades at just Rs 10 in line with our intraday pricing of Rs 10 and delivery for free,” the company stated in its blog.
Futures & Options Trading in India is a highly competitive arena that hosts a number of old and young players.
This widespread adoption of F&O Trading on Paytm Money in such a short span holds considerable significance for the firm and indicates recognition towards its efforts to democratize digital investing for every Indian, it said.
After the early access phase, the firm is opening its Futures & Options Trading platform for everyone.
“It would offer simplicity and flexibility to our young as well as experienced traders so that they can conveniently trade Futures & Options over the Paytm Money app and our website, in addition to the current offerings of Stocks, Mutual Funds, Digital Gold, IPO, ETF & NPS,” the company stated.
During the first few weeks of the early access phase, we gave access to 1 lakh + users, it added.
During the early access program, one of our objectives was to check for traction with early trends for us to further simplify the investing process, the company said.
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, Paytm Money stated.
