Paytm Money App Review 2024: Is Paytm Money Sebi Registered?

paytm-money-app-review
paytm-money-app-review

Paytm Money App Review 2024: Are you looking for a safe and reliable investment app in India? If so, you may have heard of Paytm Money. Paytm Money is a SEBI-registered investment app that offers a wide range of investment products, including stocks, mutual funds, IPOs, and NPS retirement funds.

In this blog post, we’ll take a overview at Paytm Money, including its features, pricing, and customer service. We’ll also answer the question that many people are asking: is Paytm Money safe?

Stay tuned for our in-depth review of Paytm Money, and learn how this investment app can help you reach your financial goals.

What is Paytm Money App?

Paytm Money, established in 2017, initially started as a direct mutual fund platform. Over the years, it has expanded its offerings to cater to a diverse range of investment options. Today, Paytm Money provides access to various financial products, including Stocks, Mutual Funds, Gold, IPOs, NPS, ETFs, and more.

Notably, it has also ventured into the realm of F&O products and has plans to add Currency and Commodity trading in the near future. The Paytm Money Stock trading app, which is available for both Android and iOS smartphones, has garnered a substantial user base, boasting over 6 million users as of December 2020.

The app’s user-friendly design and clean interface simplify the investment process, ensuring a swift and convenient experience. Furthermore, Paytm Money prioritizes security, employing the latest encryption standards and offering two-factor authentication (2FA) options, such as PIN or Finger Print, to safeguard user information and transactions within the app.

App NamePaytm Money
CompanyPaytm
User Base10+ million
Listed OnSEBI, BSE, NSE
Founded In2017
Founded ByVijay Shekhar Sharma
CEOVarun Sridhar
HeadquartersNoida, India
Revenue₹1,115 crore (FY22)
Websitehttps://www.paytmmoney.com/

Paytm Money Features

  • Easy Account Setup: Quick and paperless KYC for hassle-free account opening.
  • Top-Notch Security: Bank-level security measures ensure your investments are safe.
  • Intuitive Stock Search: Easily find stocks by their names.
  • Price Alerts: Get smart notifications to stay updated on stock prices.
  • Quick Support: Access customer support within the app for speedy query resolution.
  • Custom Watchlists: Create and personalize up to 50 watchlists with your favorite stocks.
  • Comprehensive Company Data: Detailed financial info and historical prices for every listed company.
  • Brokerage Calculator: Calculate trading costs within the app.
  • All-in-One Platform: Trade, research, track, and invest all in one place.
  • Advanced Tools: Use advanced charts, indicators, and drawing tools.
  • Real-Time Market Info: Stay informed with real-time data on gainers, losers, and sector-wise indices.

Paytm Money App Advantages

Paytm Money is a user-friendly app that comes with several advantages:

  1. User-Friendly Design: It’s easy to use with a clean and appealing interface.
  2. All-in-One Convenience: You can trade, invest, and research all in one place.
  3. Top-Notch Security: Your investments are safe with modern encryption and two-factor authentication (2FA).
  4. Easy Account Opening: Setting up an account is quick, paperless, and hassle-free.
  5. Simplified Access: You don’t need separate logins for Mutual Funds, NPS, or Gold investments.

Paytm Money Charges

paytm-money-charges
paytm-money-charges

Using the Paytm Money app for stock investments in the Cash segment costs an annual fee of Rs. 300. When you open an account, there’s a one-time fee of Rs. 200, and there are no ongoing maintenance charges.

For mutual fund investments through the app, there are no fees, commissions, transaction charges, or hidden costs.

However, when you invest in stocks, you’ll have to pay additional charges like brokerage fees, Demat charges, and various regulatory fees such as STT, exchange transaction charges, GST, and Stamp Duty. Paytm Money follows a straightforward pricing model with a flat fee structure.

Paytm Money Brokerage Charges

SegmentBrokerage Fee
Monthly Fee (Fixed)
Equity DeliveryRs 20 per executed order or 2.5% (whichever is lower)
Equity IntradayRs 20 per executed order or 0.05% (whichever is lower)
Equity FuturesRs 20 per executed order or 0.01% (whichever is lower)
Equity OptionsRs 20 per executed order
Currency Futures
Currency Options
Commodity Futures
Commodity Options

Paytm Money charges brokerage fees for various trading segments under its Standard Plan for 2023. There is no fixed monthly fee. For Equity Delivery, customers are charged Rs 20 per executed order or 2.5%, whichever is lower.

For Equity Intraday trading, the fee is Rs 20 per executed order or 0.05%, whichever is lower. Similarly, for Equity Futures trading, customers pay Rs 20 per executed order or 0.01%, whichever is lower. Equity Options trading incurs a charge of Rs 20 per executed order.

As for other segments such as Currency Futures, Currency Options, Commodity Futures, and Commodity Options, specific brokerage fees are not provided under this plan. This transparent fee structure helps traders and investors understand the costs associated with their transactions on the Paytm Money platform.

Paytm Money Account opening Charges

Account TypeOpening ChargesAnnual Maintenance Charges (AMC)
Trading AccountRs 200Rs 300 (Annual Platform Fees)
Demat AccountRs 0 (Free)Rs 0 (Free)

It provides two types of accounts:

  1. Trading Account.
  2. Demat Account.

To open a Trading Account, there is a one-time fee of Rs 200, and an annual maintenance charge (AMC) of Rs 300, which is billed yearly as the Annual Platform Fees. On the other hand, opening a Demat Account is free, and there are no annual maintenance charges associated with it. This transparent fee structure allows customers to understand the costs involved in maintaining their Paytm Money accounts.

Paytm Money Transaction Charges

SegmentTransaction Fee
Equity DeliveryNSE: Rs 345 per Cr (0.00345%)
Equity IntradayNSE: Rs 345 per Cr (0.00345%)
Equity FuturesRs 200 per Cr (0.002%)
Equity OptionsRs 5,300 per Cr (0.053%) on premium
Currency Futures
Currency Options
Commodity

Paytm Money applies transaction charges to various trading segments, which are a combination of Exchange Turnover Charge and Trade Clearing Charge. These charges vary depending on the type of transaction and the exchange where it occurs. For Equity Delivery and Equity Intraday trading, the charges are NSE: Rs 345 per Cr (0.00345%) and BSE: Rs 300 per Cr (0.00375%) on each side.

Equity Futures trading incurs a fee of Rs 200 per Cr (0.002%), while Equity Options trading is charged at Rs 5,300 per Cr (0.053%) on the premium. Charges for other segments such as Currency Futures, Currency Options, and Commodity trading are not specified in this list. Understanding these transaction charges helps traders and investors plan their trading activities effectively.

Paytm Money Trading Tax Rates

Paytm Money TaxRates
Securities Transaction Tax (STT)
Equity Delivery0.1% on both Buy and Sell
Equity Intraday0.025% on the Sell Side
Equity Futures0.01% on the Sell Side
Equity Options0.05% on the Sell Side (on Premium)
Commodity Futures0.01% on the Sell Side (Non-Agri)
Commodity Options0.05% on the Sell Side
Currency F&ONo STT
On Exercise transaction0.125%
Right to entitlement0.05% on the Sell Side
Exchange Transaction ChargesRefer to the table above
GST18% on (Brokerage + Transaction Charge + SEBI Fee)
SEBI Charges0.0001% (₹10/Crore) of the turnover (except for Agri futures where it is Rs 1 per crore)
Stamp Duty(On buy side only) Delivery: 0.015%, Intraday: 0.003%, Equity Futures: 0.002%, Equity Options: 0.003%, and Currency F&O: 0.0001%. Commodity Futures: 0.002%, Commodity Options: 0.003% (MCX)

Paytm Money, like all trading platforms, charges government taxes and fees in addition to the brokerage fees. These taxes are outlined in the contract note sent to customers at the end of the trading day. The table above provides a breakdown of the various trading taxes that Paytm Money users may encounter. These taxes include the Securities Transaction Tax (STT), Exchange Transaction Charges, GST, SEBI Charges, and Stamp Duty.

The rates for each tax vary depending on the type of transaction, such as equity delivery, intraday, futures, options, and commodities. This information ensures transparency and clarity regarding the tax implications of trading with Paytm Money.

Paytm Money Demat Account Charges

TransactionCharges
Demat Account Opening ChargesRs 200
Transaction Charges (Buy)
Transaction Charges (Sell)
Demat Account Annual Maintenance Charges (AMC)Free – Zero maintenance charges
Demat + Courier ChargesRs 250 per 100 shares + depository charges
RematRs 250 per 100 shares + depository charges
Pledge CreationRs 10 per ISIN
Pledge Creation Confirmation
Pledge InvocationRs 10 per ISIN
Failed Transactions
Other ChargesOff-market transfers – Rs 10 per ISIN

Paytm Money provides detailed information regarding its Demat account charges for the year 2023. To open a Demat account, customers are charged a one-time fee of Rs 200. The annual maintenance charges (AMC) for the Demat account are completely free, with zero maintenance charges. When it comes to specific transactions and services, there’s a fee of Rs 10 per ISIN for demat debit transactions.

Additionally, for certain actions like Demat + Courier charges, Remat, Pledge Creation, Pledge Invocation, and Off-market transfers, specific charges apply, as indicated in the table. This transparent fee structure ensures clarity for users regarding the costs associated with their Demat accounts through Paytm Money.

Paytm Money Demat Account Opening Process

Paytm Money makes it easy to open an account for trading and holding your investments. Here’s how you can do it:

  1. Download the Paytm Money App: Get the Paytm Money app on your phone.
  2. Log In or Sign Up: If you already have a Paytm account, use those credentials to log in. If not, you can sign up with your email or mobile number.
  3. Verify Your Mobile Number: You’ll receive an OTP on your mobile number to confirm it.
  4. Opt for Faster Access: Choose this option.
  5. Complete KYC Verification: You’ll need to provide some documents for verification. This includes your PAN card, personal details, signature, photograph, address proof, and optional nominee details. You’ll also declare your income and provide your bank details. Make sure to verify your bank details.
  6. Explore and Set Security: Under the Stocks tab, click on Start Investing, set a 4-digit security passcode, and click on Start and Open My Account.

Account Opening Process in Stages:

The account opening process is divided into four stages:

Stage 1: KYC Verification for Stock Market

  • Enter your PAN No. and upload PAN card photo.
  • Provide personal details, signature, and photograph.
  • Complete In-Person Verification (IPV) with a short video.
  • Add your address and upload an address proof.
  • Optionally, add a nominee and declare your income and tax status.
  • Enter your bank details and verify them.
  • Set a 4-digit security passcode.

Stage 2: Stock Market Onboarding

  • Complete an account opening form.
  • Read and accept the terms and conditions.
  • Choose the exchange and trading segment.
  • Update your trading experience.
  • Sign and upload your signature.

Stage 3: Account Opening Form (AOF)

  • E-sign the AOF by entering your Aadhar number and OTP verification.

Stage 4: Registration with Exchanges

  • This stage is handled by Paytm Money, and no action is needed from your side.

Required Documents for Paytm Money Account Opening:

The process is entirely digital, so you’ll need to upload photos of the following documents:

  • PAN Card
  • Address Proof (e.g., Aadhar Card, Passport)
  • Video recording for IPV
  • Photograph of your signature on white paper
  • Your photograph
  • Bank Address Proof (e.g., Cancelled Cheque, Passbook front page)

Once all stages are completed, your account is ready for investments.

Also Check: 5Paisa App Review 2024: Features, Charges, Demat Account, Complete Guide

Paytm Money Customer Care Number

The Paytm Money trading app has a built-in Customer Support section and a detailed list of frequently asked questions (FAQs) to help with common investor questions. If your issue isn’t covered in the FAQs, you can easily raise a support ticket right from the app.

Alternatively, you can send an email to [email protected] or start a live chat with the customer support team for assistance.

Is Paytm Money Sebi Registered?

Yes, It is a SEBI registered stockbroker and investment advisor.

Paytm Money Stock Broking SEBI Registration no.: INZ000240532.

Paytm Money Investment Advisor SEBI Registration no.: INA100009859.

Being SEBI registered means that Paytm Money is regulated by the Securities and Exchange Board of India, the government body that regulates the securities market in India. This means that Paytm Money must comply with SEBI’s regulations, which are designed to protect investors.

In addition to being SEBI registered, It is also a member of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This means that Paytm Money clients have access to trade on both of India’s major stock exchanges.

Overall, It is a safe and reliable investment platform. It is SEBI registered, a member of the BSE and NSE, and offers a wide range of investment products.

Also Read: Angel One App Review 2024: Is Angel One Safe?

FAQs

Q. Can I invest through Paytm Wallet?

No, you cannot invest through Paytm Wallet. You can only invest using UPI, NetBanking, or Debit Card of your verified bank account.

Q. What are the charges for investing through Paytm Money?

Paytm Money charges a brokerage fee for stock trading, but there are no charges for investing in mutual funds or NPS retirement funds.

Q. Is Paytm Money safe?

Yes, Paytm Money is a safe and reliable investment platform. It is SEBI registered, a member of the BSE and NSE, and offers a variety of security features to protect its users’ accounts and funds.

Conclusion: Paytm Money App Review 2024

The Paytm Money app is owned by Paytm Money itself. It’s a secure app with a nicely designed look. This app doesn’t cost a lot to use, and it lets investors trade different kinds of things easily and quickly. It’s a smart app that listens to feedback and is always trying to get better to make trading easier for users.

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