Now you will be able to buy stocks of companies from Paytm, share broking service will start soon
Paytm Money will start its retail share broking service in the next 6 to 8 weeks. However, the company has currently started the service for more than 80 thousand Android users at the beta level.
Paytm Money will start its retail share broking service in the next 6 to 8 weeks. However, the company has currently started the service for more than 80 thousand Android users at the beta level. KYC and share opening process for share broking will also be completely paperless.
Company CEO Varun Sridhar said that till now the company which has been trading in Mutual Fund will now become a full-fledged Broking Firm. The company aims to have more than 2.5 lakh active users on its platform by next year, with a turnover of 6 lakh volumes.
Approval was received for this service on April 1, 2019
Paytm Money was approved for this from April 1, 2019. However, due to Corona, the company has been delayed in starting its service. The stock market regulator Sebi (SEBI) had also approved Paytm’s subsidiary Paytm Money.
Broker Membership for BSE and NSE
It was said on behalf of the company that Broker Membership has been received for BSE and NSE. Now the company will soon start investing and trading products with the stock exchange. Trading in equities and cash segment will also be started on the Paytm Money platform. Through Paytm Money, crores of Indians can invest better. We will provide a reliable investment platform to the users.
Account will open like this
First click on Open Demat account and fill the form. After that you will get a call from Paytm Executive. Then you will get a link via SMS on your mobile and on your email id. Go to the link and complete your KYC.
For KYC process, you will need some documents like PAN card number, Aadhaar. Client ID and password will be available within 24 hours of completion of KYC process. Paytm Money charges Rs 300 for opening an account and Rs 200 for Digital KYC.
These facilities will be available
Paytm consumers can trade shares in the stock market using the Paytm Money app. For this, the entire process including KYC is 100 percent digital. The process of KYC from opening an account is completed in 24 hours, you can buy and sell shares of your favorite stock. With this, you can easily track the real time value of about 50 stocks. You can set alerts as per your convenience. Many other new facilities like day top gainer, loser and many more have been provided.
