Online investment platform Paytm Money on Wednesday, 13 January, announced its futures & options services (F&O) on its platform with an aim to reach a daily turnover of Rs. 1.5 lakh crore and 1 million trades in the next 18 to 24 months.
Paytm Money, which is a wholly-owned subsidiary of Paytm, currently offers wealth management services. For F&O trading, the company said it would charge a competitive brokerage of Rs. 10 for all future and option (F&O) trades, and the low pricing is without any commitments or packages or contracts.
This is in line with its intraday charges of Rs. 10, and free for delivery. The pricing disruption will benefit experienced as well as first-time traders to seamlessly trade in Futures & Options with a best in class product, on their mobile and in a secure environment.
Varun Sridhar, CEO, Paytm Money said, “our pricing of Rs. 10 flat per order without any contract/commitments/conditions brings the overall cost of trading significantly lower and makes it super transparent.”
‘With this, Paytm Money is taking one step further to become India’s most comprehensive and number 1 digital wealth management”, he added.
Paytm Money claims that it has more than seven million users, he said, adding that almost 50%of mutual funds and stock investors on the platform were new to the market. Initially, the platform will offer early access to a selected user based on android and the web to analysis their feedback.
About Future and options (F&O):
Futures trading– It is a type of derivatives, a buyer or (seller) agrees to buy or sell a certain quantity of a particular asses, at a specific price at a future date.
Options trading– Option trading is a type of derivative in which a contract has been signed by a buyer or (seller) and this contract gives a buyer or (seller) the right, but not the obligation, to buy or sell a particular asset at a certain price at a specific pre-determined date.
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