PhonePe Forays In Stock Broking To Take On Biggies Like Zerodha, Upstox With Share(dot)Market Platform

PhonePe has forayed into the stock broking business to stir competition with biggies like Zerodha, UpStox, and Groww among others, by launching its new platform Share(dot)Market, under its subsidiary PhonePe Wealth Broking. The Bengaluru-based fintech through its new stock broking platform plans to provide a wide spectrum of investment products allowing investors across different demographics to build a well-rounded and balanced portfolio.

In its statement, PhonePe highlighted that Share(dot)Market elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and great customer experience for investors and traders alike.

Share(dot)Market is available as mobile applications and in the form of a web platform, which will allow retail investors to Buy Stocks, do Intra Day trades, and buy Curated WealthBaskets and Mutual funds.

On the launch, Ujjwal Jain, Chief Executive Officer (CEO), of Share(dot)Market said, "We believe Share(dot)Market will propel this growth with the backing of our technological prowess, reach, seamless onboarding, and superior product experience. Our goal is to offer the benefits of Discount Broking while creating lasting value for our customers as they invest and trade."

Among the services offered by the platform are --- stocks (intraday and delivery), Mutual Funds, Exchange-Traded Funds (ETFs), and WealthBaskets.

Notably, wealthBaskets are curated collections of stocks/investment products by SEBI registered intermediaries that align with specific themes, sectors, or market trends enabling active equity portfolio building with great convenience, and at low costs.

Share(dot)Market is not just aimed at bringing in new dimensions to the stock broking with quantitative research along with execution, a proven technology platform, but also a competitive discount booking price.

PhonePe has announced a slew of waivers for a limited period for on-boarding on the platform. At Share(dot)Market, a one-time onboarding price of Rs 199 will include various benefits such as:

- Zero brokerage up to Rs 400 on trades.

- Zero Platform fee for in-house and third-party WealthBaskets

- Zero Brokerage On WealthBasket transactions across both in-house and third-party Wealthbaskets.

These benefits will be available till March 31, 2024.

PhonePe said investors and traders will gain access to wealth-building opportunities powered by real-time, value-rich insights and intelligence, embedded into products and DIY tools deeply integrated with execution experience, enabling them to make informed decisions.

Also, the platform will host a dedicated Markets section to track the stock market, Indices, Stocks, and Sectors with an intuitive Watchlist tracker. PhonePe users can install the app as well as access the web platform by using their PhonePe-linked mobile numbers. Once they log in, they can complete the KYC process to activate their Broking and Demat accounts.