In this article, we’ll discuss the Lemonn platform, an offering by the Lemonn Stock Market app, created by CoinSwitch Kuber. In this write-up, you will be guided on how to open an account, trade using this application and what distinguishes it from others including a special campaign which gives you ₹50 cashback for your first trade. Jumping in!
Lemonn App
The Lemonn App is an invention of CoinSwitch Kuber, one of the most known cryptocurrency investment platforms. Comparable to other stock market apps like Groww, Zerodha, Angel One and suchlike, it allows users to have stakes in stocks, mutual funds and futures & options (F&O). Zero brokerage fees for one year while trading in F&O are some of its promotions.
In this application, you can invest in securities like stocks, futures contracts and options. The app provides access to over 2200 stocks. There is no extra charge for mutual funds. This application allows you to manage your own portfolio professionally through an additional advantage of adding more funds and investing for long term in mutual funds.
Open an account with Angel One– Click here
Founders of Lemonn
PeepalCo, the innovative wealth-tech company behind the Lemonn app, is led by three visionary founders: Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari. Possessing a strong background in technology and finance, Ashish Singhal who is also the Co-founder & Group CEO of PeepalCo has been able to direct the strategic vision of this firm while attracting serious venture capital investments. Govind Soni on his part as Co-founder & Group CTO has extensive experience that plays a critical role in developing and improving product offerings of PeepalCo such that they are both contemporary and user friendly. For his part, Vimal Sagar Tiwari as Co-founder & Group COO deals with issues concerning operations thus ensuring smooth implementation and growth of firm’s projects. Their combined efforts made have resulted into an assortment of financial products including CoinSwitch and Lemonn with a common goal of democratizing wealth creation so as to make investment open to everybody within India’s boundaries.
Features
- Free demat and trading accounts with no opening costs.
- Simple stock trading and investment with easy-to-understand information
- Access to intraday trading with live stock price movements (NSE Nifty 50, BSE Sensex).
- Comprehensive stock analysis, covering financials (profit and loss, balance sheet, and cash flow).
- Advanced trading tools and charts for making informed judgments.
- BHIM UPI enables fast and secure UPI payments and online banking.
- Access to technical charts, indicators, research and analysis tools.
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100% paperless approach with a shortened one-time KYC.
Account Creation Process
Login or Sign Up: If you already have a CoinSwitch account, simply log in. Otherwise, select the sign-up option and provide your phone number.
Verify phone number: Accept the terms and conditions, generate a one-time password, and enter it to validate your number.
Complete KYC: To complete the Know Your Customer process, use your Aadhaar number and give additional details such as your marital status, trading experience, income tax information (for example, mother’s name, father’s name), annual income source and occupation.
Bank Verification: Verify by filling up your bank account details. A small amount will be sent to your bank for verification.
Add Nominee (Optional): There is also an option to add a nominee or proceed without doing so.
Declaration: Please select the type of trades you would want to have in cash and mutual funds or whatever you like.
Activate F&O (Optional): Activate if you wish to trade in F&O at zero brokerage for 1 year.
Capture Selfie and Signature: Click a selfie of yourself and then put down signature.
E-sign: Agreeing with the terms and conditions you need to enter your Aadhaar number after which press generate OTP to complete e-sign process.
Trading on Lemonn App
Add Money: Go to home page tab ‘add money’; insert amount. Use UPI of the linked bank account to make payment successful.
Explore Stocks: Visit “Explore Stocks” section; search stocks such as Yes Bank Limited; buy/sell shares based on this stock price.
Execute Orders: Buy or Sell orders will be placed after entering quantity.
View Portfolio: The performance of each stock in your portfolio will be displayed along with those owned by you.
Withdraw Funds: After selling stocks, the proceeds will be deposited into your Lemonn wallet, which you can withdraw to your bank account after 48 hours.
Open an account with Upstox– Click here
Claiming Cashback
To get the cashback, send a screenshot of your buy or sell transaction from the Lemonn app’s portfolio section to the Google API link provided in the video description. After you’ve uploaded the screenshot, tap ‘Submit’. Your reward will be deposited into your bank account within 72 hours.
Conclusion
The Lemonn app, created by CoinSwitch Kuber, provides a seamless trading experience for equities, mutual funds, and F&O, with unique perks such as 0 brokerage for F&O trading for a year.
The app’s user-friendly layout and simple account creation make it an appealing alternative for both new and seasoned traders. Take advantage of the ongoing deal and receive a ₹50 cashback on your first trade by following the instructions above.
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