Paytm Money, a wholly owned subsidiary of One97 Communications (OCL), on Tuesday launched BSE Futures & Options (BSE F&O) trading service on its platform, as part of the Noida-based company’s efforts to expand its wealth management and financial services segment. .
This will allow users to trade index-based contracts offered by the Bombay Stock Exchange, including SENSEX, BANKEX, and SENSEX50.
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The platform will allow users to trade both NSE and BSE F&O contracts through a single application.
The company, which is ranked the 11th largest, said the trading fee excluding taxes is set at Rs 20 per trade order.
With real-time market data, advanced charting tools, and an integrated margin calculator, traders get access to insights for seamless and informed decision-making, Paytm Money said.
“It will offer order types such as market, limit, stop loss, and intraday, allowing traders to easily implement strategies while tracking their positions and P&L in real time,” it added.
The introduction of F&O trading on the platform comes at a time when an analysis by the Securities and Exchange Board of India (Sebi) revealed that nearly 93 percent of retail traders incurred an average loss of Rs 2 lakh (per trader) in the last period. three financial years.
A new Sebi report highlights the increase in individual investors making futures and options (F&O) losses to 91.1 percent in FY24 compared to 89 percent in FY22.
The findings hold significance in shaping the market regulator’s policy making when it comes to managing the F&O segment, where daily turnover often exceeds Rs 500 trillion.
“With advanced tools and insights, we enable our users to make informed decisions and unlock their full potential in the market. At Paytm Money, we are dedicated to delivering innovative and easy-to-use solutions that improve the trading experience and support our users in achieving their financial goals,” said Rakesh Singh, Chief Executive Officer (CEO), Paytm Money.
First published: October 08 2024 | 5:08 PM IST