We Have Opened Stock Broking For All3 min read
We recently turned 2 years strong, and we launched our Stock Trading Early Access Program on the android app & website for our users who had been waiting eagerly for it. During the first few weeks of the early access phase, we gave access to over 2.2 lakh users.
Now, after the early access phase, we are opening our Stocks Trading platform for everyone. It would offer simplicity and flexibility to our young as well as experienced investors so that they can conveniently invest and trade in stocks over the Paytm Money app and our website, in addition to the current offerings of Mutual Funds & NPS.
Additionally, we are also releasing the beta version for our iOS users today. The iOS version would offer all the functionality and convenience that are available to Android users.
We have kept it very easy for all to open their trading & Demat account 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.
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 platform witnessed greater adoption by users from Tier 1 cities such as Mumbai, Bangalore, Hyderabad, Jaipur, and Ahmedabad. Amongst the smaller cities that showed maximum interest were Thane, Guntur, Bardhaman, Krishna, and Agra. Additionally, around 65% of users belonged to the age group of 18-30 years.
The best part was that around 35% of these users started investing with us in Mutual Funds also for the first time.
Stocks Trading in India is a highly competitive arena that hosts a number of old and young players. This widespread adoption of Stocks Trading on Paytm Money in such a short span holds considerable significance for us and indicates recognition towards our efforts to democratize digital investing for every Indian. Along with simplified investing in stocks, the platform offers ample opportunities to the user to research the markets, explore market movers, create customizable watchlists, and set price alerts for as many as 50 stocks. Also, users may set weekly/monthly SIPs for stocks and automate stocks investing conveniently. Additionally, with the help of our robust Brokerage Calculator, he/she can know the transaction charges and get the exact breakeven prices to sell stocks at a profit.
Apart from this, we shall keep adding more value-added features with the rollout of IPO bidding, F&O & derivatives trading soon on our platform.
Also, we are humbled by the fact that our product was well-received across all age groups with millennials (around 65%) making up a significant part of our user base. Interestingly, around 60% of the users began trading within the first two days of the account opening.
Even though Stocks Trading in India hosts a large number of old and young players, there are only around a few million direct equity investors in India. We intend to disrupt the stocks arena and democratize digital investing for every Indian. Along with this, we want to educate individuals about stocks in the right direction so that they come forward fearlessly and seek the benefit of wealth creation that Stocks have to offer.
Investing in Stocks is now necessary to beat inflation and grow wealth for your goals. You can do this in a simplified and smarter way on Paytm Money. All you need to do is download the Paytm Money app today, complete your KYC instantly, and get investment-ready within minutes.