Paytm introduces the feature of futures and options trading
Paytm Money, an online investments platform, has begun the feature of futures and options (F&O) trading. The company announced its launch through a virtual event on 13th January 2021. Paytm is offering all F&O trades at a fixed price of Rs 10, without any commitments, contracts, or packages.
Paytm founder Vijay Shekhar Sharma said that with the initiation of F&O, the company expects to increase its active users and has set a goal to achieve an annual turnover of Rs 1.5 lakh crore and a million trades within the next two years.
The F&O feature completes the entire range of services delivered by the investment platform. It began two years ago with direct mutual funds and then moved into gold, stock trading, IPO options, pension investments and exchange-traded funds.
Sharma said, “There are 20 to 25 million active investors in the country only, we at Paytm want to help drive these numbers towards 100 million, thereby helping drive financial inclusion.”
CEO of Paytm Money, Varun Sridhar, said, “We have tried to keep the interface extremely simple and intuitive, further with the use of technology Paytm has made the execution of these trades very simple on the app.”
At present, Paytm has 7 million users with an annual transaction volume of 10 million. The company has clientele from 98 per cent of Indian pin codes and more than 50 per cent of its users are first-timers in the investment business.
Currently, the platform has opened the F&O trading feature for the first 500 users who can test out its features and send feedback to the company. Sridhar said that in the next two weeks, Paytm will make the F&O feature accessible to all its users.