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Paytm Money Review 2024

Rated 4/5 by InvestorGain Team
Last updated on: 22-Dec-2023
Paytm Money Review
Open Paytm Money account online and enjoy brokerage Free mutual fund investment, Maximum ₹20/trade. Avail special offer with us - Free brokerage for 15 days.

Paytm Money Review 2024 - Quick Summary

In a short span of time since 2017, Paytm Money became one of the fastest-growing brokers with its Rs. 20 maximum brokerage trading fee, and commission-free mutual fund investment on the simple, user-friendly, & transparent Paytm Money App & web platform.


Paytm Money Top Highlight for 2024

  • Fully digital account opening process
  • Zero account opening fee
  • Zero Demat AMC charges
  • Free Direct mutual fund investment
  • Trade at Rs 20 maximum brokerage fee
  • Seamless investment via Paytm Money app and website

About Paytm Money

Paytm Money Limited was founded in 2017 by One97 Communications, India’s largest digital payment services company. The platforms offered by Paytm Money make your investment journey easier than ever before. Enjoy a fully digital investment experience at no paperwork with Paytm Money through its simple, user-friendly and transparent trading platforms.

Check out the Paytm Money review to know about the brokerage fee, account opening fee, Demat AMC, trading platform features and much more.

Initially, the stock broker offered only direct mutual funds, but later added other investment products as well.

Paytm Money is a registered stock broker with SEBI, BSE, NSE and CDSL depository participant. You can trade or invest in stocks, equity F&O, IPOs, and direct mutual funds. The stock broker is also registered with PFRDA as a point of presence to allow investment in NPS (National Pension Scheme).

A maximum of Rs 20 brokerage is charged for trading in all segment while investment in mutual funds are free.

You can trade or invest through Paytm Money's mobile app or trading website. Paytm Money's platforms are very easy to use and allow users to invest effortlessly. It also offers advanced trading tools like TradingView charts, GTT, bracket order, cover order, and advanced F&O analysis.

Paytm Money does not offer intraday trading tips/calls, research reports and advisory services to its users.

Paytm Money Promotion Offer

Current promotion offer from Paytm Money for InvestorGain Visitors:

  • Max Rs. 20 per order brokerage on intraday, delivery, and equity derivatives trading
  • Lifetime Zero Demat AMC A/c
  • Free direct mutual fund investment

Open Instant Paytm Money Account Now!

Request call back from Paytm Money

Paytm Money Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 4.5/5

Likewise Zerodha, Upstox, 5paisa, Angel One, Paytm Money also follows fixed or flat Rs 20 pricing model.

All equity intraday trades are charged at a lower of 0.05% or Rs 20/order brokerage.

However, unlike Zerodha, Fyers, and Angel One who offer free investment in stocks, Delivery trading is not free in Paytm Money. Trading in equity delivery segment (Cash N carry) is charged with a brokerage of Rs 20/order or 2.5% whichever is lower.

Equity futures & options are charged with Rs 20 flat fee or commission. Thus, whether you trade in delivery, intraday, or derivative, the maximum brokerage you have to pay is Rs 20 per executed order.

However, if you have opened an account with Paytm Money before 26 August 23, then equity intraday, delivery, and F&O trading will be charged at the cheapest brokerage of Rs. 15 per order.

Paytm Money Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Rs 30 per month (Platform fees)
Demat Account Opening Charges: Free
Demat Account AMC: Free

Paytm Money Brokerage Plan with closest competitors

Here we are comparing Paytm Money with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Paytm Money 5paisa Zerodha Upstox Fyers
Service Type Discount Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 Rs 20 Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery 2.5% or Rs 20 whichever is lower Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower Free
Equity Intraday 0.05% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.03% or Rs 20 whichever is lower
Equity Futures 0.02% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.03% or Rs 20 whichever is lower
Equity Options Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity NA Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Currency Futures NA Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.03% or Rs 20 whichever is lower
Currency Options NA Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Rating

Other Charges

  • Call & Trade Charges: Rs 100/order +GST
  • RMS Auto Square Off Charges: Rs 50/order + GST
  • Hidden Charges: No
  • Payment gateway charges:: Rs. 10 + GST

For complete brokerage charges and trading plans detail please visit Paytm Money Brokerage Charges.

Please refer unique and accurate Paytm Money Brokerage Calculator


Type of Account offered by Paytm Money

To invest in the Indian stock market, you need to open several accounts with Paytm Money. Here are the types of accounts the broker offers to users;

Paytm Money Demat and Trading Account

    As a CDSL DP, the stock broker allows you to open a 2-in-1 or trading and demat account. The process to open an account is simple, user-friendly, and completely paperless.

    All you need to do is register your KYC digitally at zero hassle through Paytm Money app. The stock broker has Rs 0 KYC charges for account opening and also has no demat maintenance charges.

    Paytm Money trading account allows you to trade in equity delivery, intraday, and equity F&O segments.

Paytm Money Mutual Fund Account

Paytm Money is a popular broker for mutual fund investment. To invest in mutual funds, you need to open a Demat account mandatorily as it stores all your mutual fund holdings.

Here are the reasons why;

  • Direct mutual funds with upto 1.5% extra returns.
  • Different types of schemes i.e. equity, debt, hybrid, ELSS, etc.
  • No charges to buy and sell mutual funds
  • Hassle-free investment in mutual funds
  • Invest in MF with Paytm Money mobile app
  • Start SIP with as low as Rs 100 per month.
  • Instant redemption for upto Rs 50,000 from liquid funds
  • Switch from regular to direct mutual funds

How to open Paytm Money Account online?

Open an account with Paytm Money in a fully digital manner at zero paperwork involved. The broker provides instant 100% paperless KYC based account opening process wherein customers can download the Paytm Money app, register KYC, and complete the set up.

Step to open Paytm Money Demat Account Online;

  1. Download the Paytm Money App or web.
  2. Enter your mobile number and password to sign-up, “Sign In”.
  3. Click on Open My Free Account.
  4. Enter your PAN number and tap to proceed.
  5. To register paperless KYC, fetch your aadhar card and PAN card from DigiLocker.
  6. Authenticate your aadhaar details with OTP.
  7. Provide your personal details like marital status, profession, etc.
  8. Take a selfie on your mobile.
  9. Choose to sign on mobile screen or upload a picture of your signature.
  10. Add a nominee and verify your email ID and mobile number via OTP.
  11. Add your bank details with account number, IFSC, and upload a bank proof.
  12. Select the segment i.e., mutual funds, stocks, and F&O.
  13. Upload a proof of income to trade in F&O segment.
  14. E-sign your KYC form using your aadhar number.
  15. Your KYC is completed and once verified, it may take 1-2 days to activate your trading account.

Note: Once the KYC process is done and details are verified by the KYC team, your Demat & Trading account will be activated, and you can start trading and investing in stocks and derivatives.

Lifetime Zero Demat AMC
No brokerage mutual fund investment
Rs 0 platform fee for first 30 days
Rs 0 brokerage for first 15 days
Trade at Rs 20 maximum´┐Żbrokerage

Alternatives to Paytm Money

 Demat Account
 Demat Account
 Demat Account
 Demat Account

Paytm Money Mobile App and Trading Platforms

Trading Platforms Rated 3.5/5

Invest effortlessly through Paytm Money mobile app and website at no hassle. The platforms not only allow you to invest seamlessly but also provide a host of features for traders and investors like you.

Unlike other top brokers like Zerodha, Fyers, Groww who offer free-of-cost platforms, Paytm Money charges an upfront fee to use its platform features. You can choose to pay a fee of Rs 30 + GST every month while its annual subscription fee is Rs 300 + GST.

The broker does not have installable desktop trading software for pro traders.

Paytm Money Mobile App

    Paytm Money app is an all-in-one mobile app to invest in equities and manage your wealth. Everything from stocks to equity futures & options, mutual funds, NPS, debt instruments, and IPOs, you will find them all in the Paytm Money App.

    Not just the user-friendly app interface make your investing journey effortless but it also has many innovative features such as customized watchlists, stock price data, access to TradingView charts, the company’s financials, stock SIP, and advanced orders like BO, CO, and GTT order. You can also set price alerts and get real-time market notifications to monitor your favorite stock.

    If you trade in F&O, you will find F&O dashboard on the app with advanced F&O analytics like option chain, Heatmap, Option Greeks, FII/DII, Market Movers, Open Interest analysis, and more.

    It is a 100% safe and secure app with 2-factor authentication and fingerprint & PIN-based protection that offers bank-grade security.

    Download the Paytm Money app on any Android or iOS device to trade at your fingertips.

Paytm Money Web| Web Trading Platform

    The website allows you to invest in equities, IPO, direct mutual funds, NPS, and trade in equity F&O. From portfolio tracking and monitoring at ease to one-tap order placement, price charts, automate SIP investment in stocks and mutual funds, P&L reports, GTT order, and more technical tools are available on the Paytm Money web platform.

    To provide enhanced safety and secure user experience, the broker offers QR QR-based login to its website. The feature eliminates the need to manually enter your login credentials while login in to the Paytm Money Web.

Paytm Money API

    Whether you are an individual trader, investor, or a new startup, use Paytm Money API to develop a personalized trading platform.

    Free API access by Paytm Money help people to execute orders in real-time, manage their portfolio, view positions, get live streaming market broadcasts with Websocket, and more.

For detail review of mobile app and download please visit Paytm Money Trading Platform Review.


Paytm Money Trading Pros

  • 100% paperless KYC process
  • No annual maintenance charges on Demat Account
  • Free account opening at no cost
  • Brokerage-free investment in direct mutual funds
  • Transparent pricing model of Rs 20 brokerage
  • One-tap investment in IPO
  • User-friendly platforms with ease of investment
  • Swift and secure UPI payment
  • Bracket order, cover order, GTT order, and OCO order

Paytm Money Trading Cons

  • No commodity and currency trading
  • Does not offer NRI trading
  • Its platform are not free of cost.
  • No 3-in-1 account opening facility.
  • Does not offer Rs 0 brokerage unlimited monthly trading plans.
  • Delivery trading is not free
  • No trading terminal offered
  • No branch or customer support
  • High call & trade charge

Paytm Money Customer Care info

The discount broking firm only provides online customer support via email and raising a ticket online. However, offline branch-based support is not available. It does not even have a customer care number to solve customer queries.


Final thought about Paytm Money

Rated 4/5 by 20 users

If you are a beginner who has just entered the world of trading and investing, Paytm Money is the best broker for you.

The user-friendly platforms coupled with low-cost brokerage trading at Rs 20/order and free investment in mutual funds make Paytm Money an excellent choice for you.

Request call back from Paytm Money

Last updated on: 2023-12-22

FAQs

Any Paytm Money user can change default bank account online. Paytm money allows customers to change the primary bank account and add a new bank account as default bank through the below steps;

  1. Log in to the Paytm Money App.
  2. Go to your “Profile” option.
  3. Now go to the “Bank Account” setting option.
  4. Here, all the bank account registered on the Paytm Money App will be displayed.
  5. Click the bank of your choice to set it as a “Default bank” and confirm it.
  6. Once details are verified, your primary bank account will be successfully changed. Now, all the fund transfer request (deposit and withdrawal) will be processed in a new bank account only.

 

Beginners do not have good trading knowledge and their key requirement is to trade at the lowest brokerage charges and in this regard, Paytm is the best broker. It is because the broker offers trading at just Rs. 20 per order flat brokerage on intraday, delivery, and equity derivative trading. Further, it is the best broker for beginners who want to invest in mutual funds because the brokerage firm offers direct mutual funds at zero brokerage fee and also offers mutual fund advisory services to assist people to invest in the best mutual fund scheme.

 

Paytm Money Stock Broking is absolutely free for investment in direct mutual funds across asset classes of 40 AMCs. However, the broker does not allow free investment in stocks as delivery, intraday, and equity F&O trading is charged at Rs 20/per order brokerage fee.

 

Yes, Paytm Money Limited, a subsidiary of Paytm is a SEBI-registered Investment Adviser under SEBI regulation 2013. Both the Paytm Money Web and Paytm Money Mobile app are the SEBI-registered platforms that assure its integrity, safety, and security.

 

Paytm Money offers the simplest and easy to use online trading platforms to its clients through Paytm Money App and web platform.

Steps to start online trading with Paytm Money:

  1. Install the Paytm Money app on Android or iPhone.
  2. Complete the digital KYC process and open Paytm account online.
  3. Select your favorite stock or mutual fund and start online trading.

 

In March 2019, Paytm Money launched “Investment Packs” to provide a one-stop solution to meet investor's long-term goals. In this, the broker’s advisory team creates a bunch or portfolio of 3-5 mutual fund schemes that are suitable in line with the client’s risk profile and investment goal. There are two types of Paytm Money Investment Packs that are as follows;

  1. Large Packs: Mutual Fund portfolio with a minimum investment amount of Rs. 5,000.
  2. Mini Packs: Mutual Fund portfolio with a minimum investment amount of Rs. 2,000.

 

Any Paytm Money Trading Account holder can add or transfer funds using two different modes, mentioned as follows:

  • Zero-cost UPI fund transfer process.
  • Net banking based fund transfer process.

 

Paytm Money offers a free UPI-based fund transfer mechanism to add funds instantly to your trading.

Steps to transfer funds to Paytm Money account using UPI:

  1. Login to your trading account on Paytm Money App or web.
  2. Click on the “Funds” tab and then the “Add funds” option.
  3. Now, select UPI as a preferred fund transfer mode.
  4. Enter the amount and your UPI ID, mapped with the linked bank account.
  5. Now, accept the fund transfer request received on the UPI app, and funds will be added instantly.

 

Customers can add money to their Paytm Money trading account using their net banking portal. The discount broker charges Rs. 10 payment gateway charges + applicable GST to transfer funds through the net banking process.

 

If you have enough margin available in your account, then you can convert intraday positions to delivery trade or vice-versa. Here is the process explained to convert intraday to delivery trade through Paytm Money;

  1. Login to the Paytm Money Mobile App.
  2. Click on the “Portfolio” tab and slide towards the “position” bar.
  3. Click on your intraday position and tap on the “Convert” option.
  4. Enter the quantity (no. of shares) you want to convert.
  5. Once done, MIS position will be converted into a delivery (CNC) trade.

Note: You can follow the same steps to convert CNC to MIS as well. Position conversion from intraday to carry forward (CNC) and carry forward to MIS is only allowed till 3:15 PM.

 

KYC (Know Your Customer) is a mandatory process to verify customers’ identities. Paytm Money offers a 100% paperless or digital account opening process by successfully registering KYC. If you want to trade and/or invest in stocks, derivatives, and IPO, then you must complete stock market KYC through its mobile app or trading website. The KYC registration process is fully digital, easy, and takes just a few minutes and once details are verified, your account will be Investment Ready (IR).

Steps to register stock market KYC on Paytm Money

  1. Enter mobile no. or email and then OTP to successfully sign-up to the Paytm Money web or mobile app.
  2. Provide PAN card details.
  3. Add personal details i.e. name, address, and bank details.
  4. Next, upload a scanned copy of your photograph.
  5. Now, take a few second video of yours with a clear picture to complete the in-person verification process.
  6. Upload documents like PAN card, aadhar card, and bank proof to verify your personal details.
  7. E-sign the KYC form digitally.
  8. Once all the entered details are verified by the Paytm Money representatives, your trading account will be opened instantly.

 

Yes, Paytm Money is a safe for trading and for investment due to following reasons;

  • No proprietary trading and margin funding services.
  • Registered with market regulators SEBI, BSE, NSE and CDSL.
  • Safe and secure mobile trading app, “Paytm App”.
  • 2-Factor Authentication
  • Data Privacy & Protection Bank-level security protects
  • Fingerprint & Pin-protected App

 

Paytm Money is one of India’s fastest growing discount brokers that is offering trading and investment in stocks, futures & options, mutual funds, and NPS retirement funds. Traders and Investors can choose broker on various reasons;

  • Zero brokerage investment in stocks.
  • Lowest intraday and F&O trading brokerage of just Rs. 10 per order.
  • Investment in Direct mutual funds for Free.
  • Safe and secure trading platform; Paytm Money App and Web.
  • Free Demat AMC account at zero AMC charges.
  • 100% paperless account opening process.
  • Transparent brokerage model with no hidden charges.

 

Paytm Money Securities is the best online stockbroker for mutual fund investment due to below reasons;

  • Fully digital mutual fund KYC for paperless MF investment.
  • Offers direct mutual funds of 40+ top AMCs.
  • Zero brokerage, commission, or subscription fee.
  • No DP charges on Mutual Fund Redemption.
  • MF investment through Paytm Money App and web.
  • Track all your mutual fund holdings at one place.
  • 1-Click switch external investment in regular plans into direct MFs at zero charges.
  • Get mutual fund advisory services to select the best scheme for investment.

 

The position gives a summary of all the executed trade orders. For instance, if you have bought a share today, then it will be shown under the “position” section under the “Portfolio” tab. However, stocks purchased today will be shown in the “Holdings” tab from the next trading day.

 

Balance used shows the amount used by a user for all the trade orders placed through Paytm Money App or web. It includes the amount of all the orders executed as well as the blocked amount for pending orders.

 

Ledger statement represents the complete details of all the fund transfer transactions including deposits (payins) and withdrawal (payouts) processed for a particular period. Every day, the ledger gets updated at 10:30 to 11:00 PM. Customers can download the ledger statement from the Paytm Money mobile app or web platform through the below steps;

  1. Log in to your Paytm Money Account.
  2. Go to the “Statements” tab and click on the “Ledger Statement”.
  3. The ledger statement will be downloaded and now you can check all debitable and creditable amounts.

 

You can check the details of the complete charges in the contract note shows available on the Paytm Money app and website. The contract note shows the complete breakdown of all the charges including brokerage, exchange transaction fee, security transaction charges (STT), GST, Stamp duty, and others.

 

Unrealized P& L indicates all profits and losses resulting from an increase or decrease in value of the investment, but that is not yet booked means P&L that exists on paper and shares are not yet sold by the user.

 

As per the market regulator SEBI, each broker has a mandatory obligation to do the funds and securities settlement every quarter and send the retention statement to the client. Under the quarterly settlement process, all the fund balance in the Paytm Money Trading account is credited back to the customer’s bank account.

 

Paytm Money allows customers to add a maximum of 5 bank accounts that can be linked to the Paytm Money Trading account. Customers can add or withdraw funds through any of these 5 accounts. The broker supports instant bank account verification via IMPS penny drop verification wherein Paytm Money transfers Rs. 1 instantly to your bank account.

 

Yes, Paytm Money provides a direct mutual fund investment facility. Investment in Mutual funds is 100% commission-free. As you are applying in a direct mutual fund, you can earn upto 1% extra return.

 


Paytm Money User Reviews

9. RAMA KANT TANTIA Apr 14 2024 08:27:16 AM Reply
no customer care no. avilable and on app help center raise issue than no responce A LOT 0F times raise issue AND REQUEST TO CALL ME but no responce. I CLOSED AND TRF MY ONE ACCOUNT AND SOON GOING TO CLOSE AND TRF MY ACCOUNT TO ANOTHER BROKER. SO FOR CUSTOMER SERVICE AND HELP, I WILL GIVE MINUS 10 STAR.

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Average
Website Usability - Above Average
Customer Service - Very Poor
Overall Experience - Very Poor
8. Hdjdj Jan 06 2024 11:16:53 AM Reply
It is best app with more details.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
7. Varnit aggarwal Dec 19 2023 10:37:21 PM Reply
Worst customer service.Account closure was very difficult.Had to complain to sebi to finally get it closed

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Average
Customer Service - Very Poor
Overall Experience - Very Poor
6. Jatin . Nov 02 2023 10:05:02 PM Reply
best for me till now

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
5. Tushar Hota May 05 2022 09:23:23 PM Reply
How can AMO is placed in option trading .
Timing of AMO IN OPTION TRADING .
4. Atisha Mar 28 2022 04:11:05 AM Reply
It is the worst application and looks like fraud. It didn''t have zero rating option so I had to give one unfortunately. First of all they don''t have any customer support number. There is one email Id, where if you Paytm Money to another broker and haven''t been lucky enough to do so. I am starting to believe that they are frauds.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
3. Ajay parmar Nov 20 2021 04:55:57 AM Reply
Average Service.

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Average
Website Usability - Average
Customer Service - Above Average
Overall Experience - Above Average
2. Sudeep sagar Oct 16 2021 11:01:53 AM Reply
Hii.....I want to know the special offer on opening paytm money account, it is showing as free demat AMC but when I create the account and about to invest again it is showing as 353/- will be chargeable as platform.maintenance, I''''m not getting this one, please provide me details regarding it in detail.
Thankyou