Launching Stocks & ETFs on Niyo Money

[Apoorv_Mittal]

Hello!

I’m Apoorv, Product Manager at Niyo Money and I’m thrilled to announce the launch of our latest feature – Stocks & ETFs on Niyo Money.

This is going to be a stock trading feature with a flat brokerage structure, a brokerage of Rs 20 per trade, irrespective of the trade value. The trading feature in the app is well supported by advanced long term and short term charts and the news section at a scrip level.

What’s more, you can also apply for IPOs using the UPI mandate ASBA process.

We spent hours talking to potential customers, trying to understand what they expect from a stock trading app built for early beginners into stock markets, which led to the making of this feature.

The onboarding process was envisioned to be seamless, where a user could create the demat account in the simplest way possible! The idea was to maintain transparency and at the same time provide a seamless, hassle-free experience to the user.

Also, for limited time, there is a free credit of Rs 200 into trading account which you can use to trade.

Hopefully, you will like this new feature. We are on a journey of building a full stack wealth management/investment app. A lot more is yet to happen! We would like to hear back from you and take your feedback on this new feature, work on it and improve it further. Because after all, our aim is to #DecodeInvesting and make investing smarter, simpler and more convenient for you all.

Note: This feature will be available to you on Niyo Money app, once you complete your KYC and account activation for Mutual Funds investment account.

Click here to check it out! (This will work if you are using you phone with Niyo Money app installed and MF account already activated)

To download Niyo Money app:
For iOS: ‎Niyo Money on the App Store
For Android: Niyo Money on Playstore

[amitsethi]

Hi @Apoorv_Mittal - Congratulations and thanks for sharing the same. Could you please help us with the additional charges that customers have to pay to trade on the platform? Like…DMAT account opening charger, Yearly Chargers, etc. More information will be helpful.

[Apoorv_Mittal]

Account opening is free. Also, for limited time, there is a free credit of Rs 200 into trading account which you can use to trade.

For Equity Delivery,

For Equity Intraday,

Charges related to DP account

[goneo]

@Apoorv_Mittal I have opened the account when you introduced it on Niyo-IDFC account and now I am not able to login as it always says network problem.
Also at the time of opening you said there will be no charge if no trading is done in the month but you guys started charging from Jan-2021 and now my account is in -ve. Who is responsible for this ?
Do you think niyo is building any trust by doing these things ?

[Alan_Abraham]

@goneo Same happened to me as well. I have mailed
5Paise to close my account and they did it in a week.

The words and act doesn’t match!!

And regarding Niyo IDFC Account, no one is letting us know what is happening currently.

@Vinay_Bagri

[Apoorv_Mittal]

@goneo You can access your demat account from Niyo money app. If you facing problems accessing Niyo IDFC account, you can access Niyo IDFC account from IDFC Capital First Mobile banking app.
Regarding the demat AMC, you must have got am email from 5paisa Capital regarding the same as they reserve the rights to control the pricing. Earlier the AMC was Rs 45 per month for traded months. it has been changed now as per the pricing I mentioned here.

[goneo]

@Apoorv_Mittal If you guys had to ditch everything you came up with in just couple of months then why did you launch in the first place ?

You should have fixed all the bugs which Niyo IDFC had before launching the similar new product.

And if you guys keep on messing with your product pricing then it will be hard for Niyo to have loyal customers.