PhonePe has launched its stock broking app called Share.Market.
The app was launched on August 29, 2023.
It offers a zero-brokerage facility for delivery trades and a low brokerage of Rs. 20 per trade for intraday trades.
The app also offers a variety of other features, such as:
- Real-time market data
- Technical analysis tools
- Research reports
- Margin trading
- Portfolio management
PhonePe Share.Market is available to users in India who are 18 years of age or older. To open an account, users need to provide their PAN card, Aadhaar card, and bank account details.
The launch of PhonePe Share.Market is a major move by the company into the stock broking space. PhonePe is already a major player in the digital payments space, and the stock broking app is seen as a way to expand its reach into the financial services sector.
PhonePe Share.Market is competing with a number of other popular stock broking apps in India, such as Zerodha, Upstox, and 5paisa. These apps offer a variety of features and services, and PhonePe will need to differentiate itself in order to attract users.
One way that PhonePe is differentiating itself is by offering a zero-brokerage facility for delivery trades. This is a major advantage over other apps, which charge a brokerage fee for each trade. PhonePe is also offering a variety of educational resources to help users learn about the stock market.
It remains to be seen whether PhonePe Wealth Broking will be successful in the competitive stock broking market. However, the company has a strong track record in the digital payments space, and it is well-funded. This gives it a good chance of success in the long run.