PhonePe, the leading company in the fintech sector, has now entered the share broking segment. The company has launched its new app Share.Market under the PhonePe Wealth Broking subsidiary.
The Share.Market platform will provide investment products such as stocks (intraday and delivery), mutual funds, exchange-traded funds (ETFs), and wealth baskets. It will also have a dedicated Markets section to track the stock market, indices, stocks and sectors with an intuitive watchlist tracker.
Currently there are many stock broking platforms already available in India. These include 5Paisa, Kotak, Sharekhan, Angel Broking, Groww, PayTM and Zerodha. These platforms have their own features, trading dashboard and broking charges. On the basis of number of active traders, Zerodha is leading among them.
On the occasion of launching the new app, PhonePe Founder and CEO Sameer Nigam said “With the entry into the share broking segment, the company has completed its financial services portfolio. He said that we have got share.market as a brand.”
Ujjwal Jain, Chief Executive Officer (CEO), Share.Market said, “Our goal is to offer the benefits of discount broking while creating lasting value for customers as they invest and trade.”
Share.Market installation and broking charges
PhonePe users can install the app using their PhonePe linked mobile numbers. After login, you need to complete the KYC process to activate broking and demat accounts.
In terms of brokerage charges, the share.market platform will charge 0.05% of the order or a flat Rs 20, whichever is less, for delivery and intraday orders. Most of the stock market broking firms charge these charges.
PhonePe is a fintech company of Walmart Group whose market value is more than 10 billion dollars. Currently, PhonePe provides payment, e-commerce, banking and insurance services. Their Share.Market platform will now compete with other leading platforms in India.PhonePe launches its trading app Share.Market under PhonePe Wealth Broking subsidiary