Stocks on Phonepe
If you’re wondering if the well-known platform offering trading and demat account for buying and selling stocks you are on the page this article is for you…
We all Know about leading platform PhonePe for digital payments which we use in our daily lives. In recent years, the ease of mobile trading has altered how people invest in stocks and other financial assets. Among the different platforms available, PhonePe has emerged as a prominent participant, providing investors with an effortless experience.
What is PhonePe?
PhonePe is India’s premier digital payments and financial services platform, noted for its easy-to-use interface and vast range of services. Founded in December 2015, it has quickly expanded its products to encompass not only payments and money transfers, but also mutual fund investments, insurance, and, most recently, stock trading.
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Founders
Sameer Nigam, Rahul Chari, and Burzin Engineer created PhonePe in 2015, and it has quickly grown to become India’s biggest digital payments platform. Sameer Nigam, the CEO, has extensive experience in engineering and product management from his time at Flipkart and Mime 360.
The CTO, Rahul Chari, has substantial experience with e-commerce platforms and enterprise software from his time at Flipkart and Cisco Systems. Burzin Engineer, the Chief Reliability Officer, has over 25 years of IT expertise, with a focus on establishing scalable infrastructure and overseeing engineering projects.
Their combined knowledge has inspired PhonePe’s creative solutions in the digital payment market.
How Do I Use PhonePe?
Using PhonePe is simple. You must first download the app from the Google Play Store or the Apple App Store, then register with your mobile phone and link your bank account. Once set up, you may use PhonePe to pay bills, recharge, transfer money, and now trade stocks.
Can I buy stock on PhonePe?
Yes, you can buy stocks on PhonePe. In August 2023, PhonePe introduced a stock broking app and web platform named Share Market. The site provides demat account and trading services, allowing users to invest in stocks, mutual funds, initial public offerings, and other securities. This tool enables users to manage their investments straight from their mobile devices.
Does PhonePe have a Demat Account?
Yes, PhonePe offers demat accounts, which allow users to keep and trade stocks electronically. The demat account is required for buying and selling stocks and other financial products.
Is PhonePe Demat Account Free?
PhonePe demat accounts are free to open, with no account opening or membership fees. The first year’s annual maintenance charge (AMC) is not there; thereafter, it costs Rs.15 per month, charged quarterly in advance.
Accounts opened before June 30, 2024 have free brokerage costs on various trades, including equity, futures and options (F&O), and WealthBaskets, until December 31, 2024. This makes it an affordable option for new investors.
PhonePe’s Demat Account Features
PhonePe’s demat account includes various features that enhance the trading experience:
- Offers detailed and customized charts for technical analysis.
- Supports a variety of order types, including invest and trade in stocks, ETFs, F&O, WealthBaskets, Mutual Funds and more.
- Provides prompt customer service to address any difficulties or questions. For any complaints relating to Stock broking, email at grievances@share.market. For
complaints related to Research Analyst, email at grievances_ra@share.market.
Contact number- 1800 22 7575 / 1800 266 7575.
- WealthBaskets offers curated collections of shares and ETFs based on advanced investment methods, starting at Rs.1000, with no lock-in periods and the option to change compositions.
PhonePe Demat Account Charges
Direct Charges for Demat Account
|
Charge Type |
Amount |
|
Account Opening Fee |
Rs.0 |
|
Subscription Fee |
Rs.0 |
|
AMC First Year |
Rs.0 |
|
AMC Second Year Onwards |
Rs.15 per month (charged quarterly in advance) |
For Demat Accounts Opened Before June 30, 2024
|
Charges |
Amount |
|
Equity Intraday |
Rs.0 per executed order |
|
Equity Delivery |
Rs.0 per executed order |
|
F&O – Futures |
Rs.0 per executed order |
|
F&O – Options |
Rs.0 per executed order |
|
WealthBasket Platform Fees |
Zero Platform fees for all WealthBaskets |
|
Equity Delivery WealthBasket |
Rs.0 per executed stock order |
|
RMS or Auto Square off charges |
Rs.30 per executed order placed through RMS / Auto Square off intraday or otherwise by PPWB |
|
Pledge / Unpledge charges for Collateral limits |
Waived off / Refunded back |
For demat accounts opened After 31st Dec 2024
|
Charges |
Amount |
|
Equity Intraday |
Rs.20 per executed order or 0.05% (whichever is lower) |
|
Equity Delivery |
Rs.20 per executed order or 0.05% (whichever is lower) |
|
F&O – Futures |
Rs.20 per executed order |
|
F&O – Options |
Rs.20 per executed order |
|
WealthBasket Platform Fees |
Zero Platform fees for all WealthBaskets |
|
Equity Delivery WealthBasket |
Rs.20 per executed stock order or 0.05% (whichever is lower) |
|
RMS or Auto Square off charges |
Additional Rs.30 per executed order placed through RMS / Auto Square off intraday or otherwise by PPWB |
|
Pledge / Unpledge charges for Collateral limits |
Refer “Tariff for Demat Account” section |
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Regulatory Charges
|
Charge Head |
Equity Delivery |
Equity Intraday |
F&O – Futures |
F&O – Options |
|
Security Transaction Tax |
0.1% on turnover |
0.025% on sell turnover |
0.0125% on the sell side |
0.125% of the intrinsic value on options that are bought and exercised. 0.0625% on sell side (on premium). |
|
Exchange Transaction charges (NSE) |
0.00322% of turnover |
0.00322% of turnover |
0.00188% |
0.0495% (on premium) |
|
Exchange Transaction charges (BSE) |
0.00375% of turnover |
0.00375% of turnover |
0 |
0.005% (on premium) |
|
SEBI Turnover Fees |
0.0001% of turnover |
0.0001% of turnover |
0.0001% of turnover |
0.0001% of turnover |
|
Stamp duty |
0.015% on buy turnover |
0.003% on buy turnover |
0.002% on buy side |
0.003% on buy side |
GST is applicable on all above charges except stamp charges
Is PhonePe Demat Account Good?
PhonePe’s demat account is a solid choice for both new and experienced investors. It provides extensive functionality, low pricing, and the security of a SEBI-registered platform. PhonePe’s user-friendly interface allows you to easily open and maintain a demat account from your smartphone. This convenience, combined with powerful trading tools and attentive customer service, ensures a smooth investment process. The 0-brokerage promotion and waived pledge/unpledge charges until December 31, 2024 increase its appeal, allowing investors to trade without paying additional fees. This makes PhonePe’s demat account especially tempting to people who want to optimize their investment returns.
Conclusion
In conclusion, PhonePe’s demat account is an appealing option for investors. The variety of free services accessible for a limited time, together with SEBI registration, provides dependability and affordability.
The platform has complex features such as detailed stock analysis, live market updates, and sophisticated order types, making it appropriate for both new and experienced traders. It is a cost-effective alternative due to its cheap costs and promotional incentives such as 0% brokerage and waived expenses.
Overall, PhonePe stands out as a credible choice for individuals wishing to establish or extend their stock market presence, as it offers a secure and efficient way to manage investments.
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