will charge Rs 15 per trade, against Rs 20 per trade charged by others. Investors will have to bear Rs 250 annual charges plus goods and services tax (GST) annually, against Rs 500 charged by other brokers. The one-time account opening fees would be Rs 150+GST, against Rs 300+GST, which is the industry practice. Market participants say this could trigger further consolidation in the industry.
Along with simplified investing in stocks, the platform offers ample opportunities to the user to research the markets, explore market movers, create customisable watchlists, and set price alerts for as many as 50 stocks.
The platform witnessed higher adoption from Tier 1 cities such as Mumbai, Bangalore, Hyderabad, Jaipur, and Ahmedabad.
The company is providing the service on iOS, Android, and web platforms along with the Paytm Money
app that offers an interface to set price alerts & SIPs to invest, trade, and research on stocks.
is a wholly-owned subsidiary of One97 Communications that owns India's homegrown financial services platform Paytm. "Paytm Money aims to become a full-stack investment and wealth management platform and bring wealth creation opportunities to millions of Indians," the company said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.