If you are looking for comprehensive information about Paytm Money, this post will provide all the information you need. It will cover all the aspects of Paytm Money, including charges, features, pros and cons, and support.
The subsidiary of Paytm, Paytm Money, was established in 2017 and is one of India's leading online trading and investment platforms. The platform is SEBI registered and allows users to trade in Stocks, F&O, Mutual Funds, IPOs, and NPS Retirement Funds.
Paytm Money Review – Our Verdict
Paytm Money Charges
As far as charges go, Paytm Money charges ₹200 for opening an account. The platform doesn't charge any demat account annual maintenance fees. However, it charges an annual fee of ₹300 for its mobile application.
Next, it's important to walk you through the Paytm Money account brokerage charges. Here are the brokerage charges for various segments:
|₹15 or 2.5% of turnover (whichever is lower) per order on stocks
|₹15 or 0.5% of turnover (whichever is lower) per executed order on stocks
|₹15 or 0.2% of turnover (whichever is lower) per executed order on stocks
Paytm Money Demat Account Opening
It's time to look at the Paytm Money account opening process. Don't worry, there is nothing too complicated about it, and you can complete the process in a matter of minutes by following the steps below:
- First, you must visit the Paytm Money website or download the Paytm Money app on your smartphone.
- Next, you can log in using your Paytm Wallet credentials. You can sign up for a Paytm Wallet using your email id or mobile number if you don't have one.
- After that, you must verify your mobile number through OTP verification.
- Next up, you will need to click on ‘I want faster access.'
- After that, you can complete the Paytm Money KYC verification by providing the platform with the necessary KYC documents (Aadhaar card, & PAN).
- Next, you must fill in details like trading experience and trading preference.
- In this step, you will need to eSign your document through your Aadhar OTP verification on the CDSL website. You will need to have your Aadhar-linked mobile number handy for this.
Paytm Money Pros and Cons
- Quick and simple account opening process
- Multiple products comprising Stocks, Mutual Funds, IPOs, and F&O
- Brokerage charges are comparatively lower than other discount broking platforms
- ₹0 Annual Maintenance Charge (AMC)
- Leverage trading available on Equity Intraday
- Good trading application with advanced charting tools
- Equity Delivery is not brokerage free
- Mobile application is not free and costs ₹300 per year
- Customer support is limited to tickets; no chat or phone support
Paytm Money Features
Watchlist & Real-time Market Information
Paytm Money allows you to create multiple watchlists for tracking your favorite companies. Besides, the platform lets you view real-time market information, including top gainers and losers, sector-wise indices, and global markets.
Stock SIPs & Price Alerts
The demat and trading platform also allows you to invest in SIP weekly or monthly. Besides, it has an excellent notification and alert system that helps you stay updated about your investments. You can set alerts on stock prices to get notified when the price crosses a certain level.
Market Depth & Advanced Charts
It's always wise to check the market depth before placing an order. Paytm Money provides you with live market data, company details, and real-time market depth data to help you make good trading decisions. On top of that, the platform offers users advanced charts with powerful indicators and drawing tools for technical analysis.
Good Till Triggered Orders
Good Till Triggered Order is another powerful feature that Paytm Money comes with. The feature allows you to place stop loss and target when placing an order. After you place a Good till trigger order (GTT), the price will either hit the target or the stop loss, and that way, you will never make more loss than your pre-defined risk. Hence, the feature helps in keeping your positions secure.
Paytm Money Vs. Competitors
Paytm Money is a popular trading and investing platform, but better and more reliable online discount brokers like Zerodha and Upstox exist. Comparing Paytm Money with Zerodha or Upstox, Paytm has a comparatively lower brokerage fee. The platform, however, charges brokerage fees on equity delivery, unlike Zerodha and Upstox.
Zerodha and Upstox don't charge for their mobile applications, unlike Paytm Money, which gives them a leading edge over Paytm Money. Most importantly, most customers prefer Zerodha or Upstox over Paytm Money as they think they are more reliable than Paytm Money, while Paytm Money is more popular among Paytm users. Further, Upstox have better customer support than Paytm Money.
Paytm Money Support
Paytm Money offers users technical assistance through tickets. Tickets are resolved in about 15 minutes. However, Paytm Money doesn't have any phone or chat support.
Is Paytm Money Safe?
Paytm Money is a SEBI-registered discount broker and has been around since 2017 with a decent user base. Besides, the platform has maintained a good track record over the years. Hence, you can count on this discount broking platform for your trading and investing needs.
What are the disadvantages of Paytm Money?
Paytm Money has a few disadvantages compared to other discount brokers. The platform charges additional fees for its mobile application. Further, it charges brokerage fees on equity delivery, unlike other discount brokers like Zerodha and Upstox.
Does Paytm Money have annual charges?
Paytm Money doesn't charge any Annual Maintenance fee. However, the platform charges an account opening fee of ₹200 and an annual mobile application usage fee of ₹300. Besides, the platform charges brokerage fees on various segments.
As you have seen, opening an account with Paytm Money is straightforward. I have explained all the essential aspects of Paytm Money in this Paytm Money review. I have also explained the platform's charges and pros and cons. Now, you should be able to decide whether the platform meets your requirements and if you should open a demat account with Paytm Money. You can certainly give this platform a good try with a small capital.
What is Paytm Money Limited?
Paytm Money Limited is a financial services company that offers various investment options, including mutual funds and stock trading, through its web trading platform and mobile app.
How can I open a demat account with Paytm Money?
You can open a demat account with Paytm Money in an entirely paperless way. You can start by visiting Paytm Money's official website, and signing up with your Paytm account. Besides, you will need to complete your KYC, and finally, eSign your application on the NSDL website.
What investment and trading products are available on Paytm Money?
Paytm Money offers various investment options, including mutual funds, direct mutual funds, equity options, equity futures, and stock trading on its web trading platform and mobile app.
Is Paytm Money a reliable platform for mutual fund investments?
Yes, Paytm Money is a reputable platform for mutual fund investments, providing access to every good mutual fund scheme and offering direct mutual fund options.
Will I get an investment advisor on Paytm Money?
Yes, Paytm Money allows users to connect with investment advisors, enabling them to get personalized investment advice based on their financial goals and risk appetite.
How does Paytm Money ensure the security of users' accounts?
Paytm Money employs robust security measures and encryption protocols for its trading application to safeguard your trading account and personal information, ensuring a secure trading experience. Besides, the stock broker has an exceptionally responsive custom service to address trading account security issues.
What are the benefits of investing in mutual funds through Paytm Money?
Paytm Money allows investors to access a wide range of mutual fund schemes conveniently. Through their platform, you can invest in direct mutual funds, which often have lower expense ratios compared to regular mutual funds. This can potentially result in higher returns for your investments over the long term.
What types of stock market trades can I execute on Paytm Money?
Paytm Money offers a range of stock market trades, including Equity Delivery, Equity Intraday, Futures and Options, Currency, and Commodity trading.
Are there any account opening charges on Paytm Money?
You can open an account with Paytm Money for ₹200.
What are the Paytm Money Brokerage Charges?
Paytm Money's brokerage charges for various segments are as follows:
- ₹15 or 2.5% of turnover (whichever is lower) per order on stocks.
- ₹15 or 0.5% of turnover (whichever is lower) per executed order on stocks.
F&O (Futures and Options):
- ₹15 or 0.2% of turnover (whichever is lower) per executed order on stocks.
Is Paytm Money a reliable trading platform for Intraday trading?
Paytm Money has excellent trading applications with advanced charting tools. Besides, the trading platform is exceptionally reliable, and order execution is pretty fast. That's why a lot of day traders in india prefer Paytm Money.