Digital payment Paytm just launched a new stock trading service. The Paytm stock trading service is currently available only in the Beta testing mode. This service will enable even inexperienced customers to invest in equity markets.
Paytm Stock Trading Service
Paytm announced the launched of this new stock trading service on August 13th and is offering this service to a select set of users. These users can then give their feedback to the platform and urge them to work on its shortcomings if any. The app will only then be made available for all its users. Also, Paytm has only released the Android and web version of this new addition. It will be available for iOs users in a short time.
With this service Paytm users will be able to invest in low pricings along with digital KYC and cashless account opening. The intraday costs will also be as low as Rs. 10. This will help even the inexperienced to invest in equity without any tension of a major loss.
How to access this service?
The Smart Search and Notification in Paytm Money feature will allow users to discover and set alerts for stocks. It will also notify the user when the price is reached. The user can set as many as 50 alerts. Users can also create and customise watchlists to keep an eye on stock pricings. They will also have an option to automate stock investing on a monthly or weekly basis.
The app also sports a built-in calculator to help the users in investing. They can use the calculator to identify transaction charges and learn the exact breakeven price, enabling them to sell stocks profitably.
Paytm CEO’s stand
The Paytm CEO, Varun Sridhar mentioned that this service will eliminate the information gap among investors and facilitate stock trading. He also agreed that not many people in India directly invest in the equity market and hence. Thus, he said, that Paytm’s new service will facilitate stock penetration in the country. An easy to use service, low pricing and digital KYC with paperless account opening will drive higher penetration in investment, he said.