Paytm Money and Nuvama are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Paytm Money is listed as a Private Discount Broker , established in 2019 and headquartered in Bangalore, while Nuvama is listed as a Private Full Service , established in 2008 and headquartered in Ahmedabad.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Paytm Money or Nuvama is a better fit for your investment style, platform preference, and budget.
Paytm Money is listed as a Private Discount Broker established in 2019 with headquarters in Bangalore and founded by Vijay Shekhar Sharma. The broker highlights access to equity delivery, equity intraday, equity futures, equity options and mutual funds through mobile app access, web trading and algo trading support and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Standard Plan brokerage structure.
Nuvama is listed as a Private Full Service established in 2008 with headquarters in Ahmedabad and founded by Rashesh Shah. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Lite Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Paytm Money vs Nuvama — A Comprehensive Company Overview
| Company Overview | Paytm Money | Nuvama |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Bangalore | Ahmedabad |
| Founder | Vijay Shekhar Sharma | Rashesh Shah |
| Establishment Year | 2019 | 2008 |
| Brokerage Plan | Standard Plan | Lite Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Paytm Money and Nuvama.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Paytm Money charges Rs.15 per Trade & 2.5% (whichever is low) while Nuvama charges Rs.10 per Trade or 0.01% (whichever is low).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Paytm Money charges Rs.15 per Trade or 0.05% (whichever is Low) while Nuvama charges Rs.10 per Trade or 0.01% (whichever is Low).
Equity futures: This charge applies to futures contracts on stocks and indices. Paytm Money charges Rs.15 per Trade or 0.02% (whichever is low) while Nuvama charges Rs.10 per Trade.
Equity options: This charge applies to equity option contracts. Paytm Money charges Rs.15 per Trade while Nuvama charges Rs.10 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Paytm Money charges N/A ; Nuvama charges Rs.10 executed order.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Paytm Money charges N/A ; Nuvama charges Rs.10 per Trade.
Paytm Money vs Nuvama — Detailed Brokerage Comparison
| Brokerage | Paytm Money | Nuvama |
|---|---|---|
| Brokerage Plan | Standard Plan | Lite Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs.15 per Trade & 2.5% (whichever is low) | Rs.10 per Trade or 0.01% (whichever is low) |
| Equity Intraday | Rs.15 per Trade or 0.05% (whichever is Low) | Rs.10 per Trade or 0.01% (whichever is Low) |
| Equity Future | Rs.15 per Trade or 0.02% (whichever is low) | Rs.10 per Trade |
| Equity Option | Rs.15 per Trade | Rs.10 per Trade |
| Commodity Future | NA | NA |
| Commodity Option | NA | NA |
| Currency Future | NA | Rs.10 executed order |
| Currency Option | NA | Rs.10 per Trade |
Paytm Money provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. Nuvama provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Paytm Money and Nuvama both list an Android trading app.
iOS app: Paytm Money and Nuvama both list an iOS trading app.
Web trading platform: Paytm Money and Nuvama both list a web trading platform.
Desktop trading terminal: Nuvama lists a desktop trading terminal, while Paytm Money does not currently mention it.
Algo trading: Paytm Money and Nuvama both list algo trading support.
Basket trading: Neither broker currently highlights basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Paytm Money and Nuvama both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Paytm Money vs Nuvama — Complete Comparison of Trading Platforms
| Trading Platform | Paytm Money | Nuvama |
|---|---|---|
| Android App | Paytm Money Android App Link | Nuvama Android App Link |
| iOS App | Paytm Money iOS App Link | Nuvama iOS App Link |
| Web Trading Platform | Paytm Money Web Trading Link | Nuvama Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | NA |
Paytm Money highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Nuvama promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Paytm Money and Nuvama offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Paytm Money and Nuvama offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Paytm Money and Nuvama offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Paytm Money and Nuvama offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Paytm Money and Nuvama offer this feature.
Global indices: Real-time data on leading global stock market indices. Both Paytm Money and Nuvama offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Nuvama offers this; Paytm Money does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Nuvama offers this; Paytm Money does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Paytm Money and Nuvama offer this feature.
Live market: Live updates on market movements and trends. Both Paytm Money and Nuvama offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Paytm Money and Nuvama offer this feature.
Paytm Money vs Nuvama — Comprehensive Comparison of Trading Features
| Trading Feature | Paytm Money | Nuvama |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes, chargeable |
| Global Indices | Yes | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | No | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Paytm Money and Nuvama.
Free account opening: Nuvama lists free account opening, while Paytm Money does not currently mention it.
Free AMC: Nuvama lists free Demat AMC, while Paytm Money does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Paytm Money and Nuvama both list flat brokerage pricing.
Flexible brokerage plans: Nuvama lists flexible brokerage plans, while Paytm Money does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Neither broker currently highlights free delivery trading.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Nuvama lists free research reports, while Paytm Money does not currently mention it.
Free trading calls: Neither broker currently highlights free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Paytm Money offers Yes while Nuvama offers Upto Rs.1,000 per referral for referrals.
Paytm Money vs Nuvama — Comparison of Latest Offers
| Offer | Paytm Money | Nuvama |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | Yes, Limited |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | NA | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | No |
| Referral Offers | Yes | Upto Rs.1,000 per referral |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Paytm Money highlights equity delivery, equity intraday, equity futures, equity options and mutual funds, while Nuvama highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, mutual funds, commodity futures, commodity options, currency futures, currency options and insurance.
Paytm Money vs Nuvama — Complete Comparison of Products
| Product | Paytm Money | Nuvama |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No | Yes |
| Commodity Future | No | Yes |
| Currency Option | No | Yes |
| Currency Future | No | Yes |
| Foreign Stocks | No | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | Yes |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | No | No |
Demat services: Paytm Money and Nuvama both list Demat services.
Trading services: Paytm Money and Nuvama both list trading services.
Intraday services: Paytm Money and Nuvama both list intraday trading services.
F&O services: Paytm Money and Nuvama both list F&O services.
IPO services: Paytm Money and Nuvama both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Nuvama lists stock research, while Paytm Money does not currently mention it.
Stock recommendations: Nuvama lists stock recommendations, while Paytm Money does not currently mention it.
Trading education: Nuvama lists trading education, while Paytm Money does not currently mention it.
Share pledging: Paytm Money and Nuvama both list share pledging.
PMS or PCG: Neither broker currently highlights PMS or PCG support.
NRI services: Neither broker currently highlights NRI services.
Paytm Money provides Demat services, trading services, intraday trading, F&O trading, IPO access and share pledging, while Nuvama offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Paytm Money vs Nuvama — In-Depth Comparison of Services
| Service | Paytm Money | Nuvama |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | No | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | No | Yes, Investology |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | No |
| NRI Services | No | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Paytm Money and Nuvama.
Paytm Money and Nuvama — Detailed Comparison of Advisory Services
| Advisory | Paytm Money | Nuvama |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | No | Yes, chargeable |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | No | Yes |
| Daily Top Stock Picks | No | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | No | Yes |
| Weekly Review | No | Yes |
| Relationship Manager | No | Yes |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Paytm Money and Nuvama across different segments.
Paytm Money and Nuvama — Comprehensive Comparison of Trading Exposure
| Exposure | Paytm Money | Nuvama |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Paytm Money and Nuvama both list a sub-broker program. Paytm Money and Nuvama both list a partner program. Paytm Money and Nuvama both list a referral program.
Paytm Money vs Nuvama — Comparative Analysis of Programs
| Program | Paytm Money | Nuvama |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Paytm Money provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Nuvama provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.
Paytm Money and Nuvama — Comprehensive Comparison of Customer Support
| Support Channel | Paytm Money | Nuvama |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | Available, Chargeable |
| Call Support | 080-46253716 | 022-66203030 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | — | — |
| Branches / Offices | NA | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Paytm Money carries an overall rating of 8.85 / 10, while Nuvama carries an overall rating of 8.41 / 10.
Paytm Money vs Nuvama — Ratings Comparison
| Rating Parameter | Paytm Money | Nuvama |
|---|---|---|
| Overall Rating | 8.85 / 10 | 8.41 / 10 |
| Customer Support | 8.81 / 10 | 8.38 / 10 |
| Technology | 8.95 / 10 | 8.51 / 10 |
| Charges | 8.88 / 10 | 8.45 / 10 |
| Products & Services | 8.79 / 10 | 8.36 / 10 |
| Experience | 8.77 / 10 | 8.34 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Paytm Money & Nuvama — Comparison of Customer Complaints
| Complaint Metric | Paytm Money | Nuvama |
|---|---|---|
| Total Complaints Lodged | 195 | 117 |
| Total Complaints Resolved | 172 | 102 |
| % of Resolved Complaints | 88.21% | 87.18% |
| Non-Actionable Complaints | 18 | 7 |
| % of Non-Actionable Complaints | 9.23% | 5.98% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Paytm Money and Nuvama.
Paytm Money vs Nuvama — Detailed Comparison of Transaction Charges
| Transaction Charges | Paytm Money | Nuvama |
|---|---|---|
| Equity Delivery | 0.00345% (NSE) & 0.00375% (BSE) | 0.00335% (NSE) & As per Stock (BSE) |
| Equity Intraday | 0.00345% (NSE) & 0.00375% (BSE) | 0.00335% (NSE) & As per Stock (BSE) |
| Equity Future | 0.002% (NSE & BSE) | 0.002% (NSE & BSE) |
| Equity Option | 0.053% (on premium) | 0.053% (on premium) |
| Commodity Future | NA | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | NA | 0.05% (Non Agri) |
| Currency Future | NA | NA |
| Currency Option | NA | NA |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Paytm Money & Nuvama — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Paytm Money | Nuvama |
|---|---|---|
| Pledge Creation Charges | Rs.15 per Request | Rs.7 per Request |
| Pledge Invocation Charges | Rs.15 per Request | Rs.7 per Request |
| Margin Trading Interest | 0.049% per day | 0.05% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Paytm Money and Nuvama — Detailed Comparison of Hidden / Other Charges
| Charge | Paytm Money | Nuvama |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.13.5 per Scrip only on Sell | Rs.20 per Scrip |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Nil | Rs.150 |
| Reactivation Charges | Nil | Rs.100 |
| Dematerialisation Charges | Rs.250 per 100 Certificate | Rs.18 per Certificate |
| Call & Trade Charges | Rs.100 per Trade | Rs.20 per Trade |
Paytm Money lists account opening charges of Rs.200 and Demat AMC of Free. Nuvama lists account opening charges of Free and Demat AMC of Rs.500 (Free for first year).
Paytm Money vs Nuvama — Detailed Comparison of Demat Charges
| Demat Charges | Paytm Money | Nuvama |
|---|---|---|
| Account Opening Charges | Rs.200 | Free |
| Annual Maintenance Charges (AMC) | Free | Rs.500 (Free for first year) |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Paytm Money vs Nuvama — Comparative Analysis of STT and CTT Charges
| STT & CTT | Paytm Money | Nuvama |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell | 0.025% on sell |
| Equity Future | 0.0125% on sell | 0.0125% on sell |
| Equity Option | 0.0625% on sell (on premium) | 0.0625% on sell (on premium) |
| Commodity Future | NA | 0.01% on sell (Non-Agri) |
| Commodity Option | NA | 0.05% on sell |
| Currency Future | NA | Nil |
| Currency Option | NA | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Paytm Money and Nuvama — Comparison of Stamp Duty Charges
| Stamp Duty | Paytm Money | Nuvama |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% on buy |
| Equity Intraday | 0.003% on buy | 0.003% on buy |
| Equity Future | 0.002% on buy | 0.002% on buy |
| Equity Option | 0.003% on buy | 0.003% on buy |
| Commodity Future | NA | 0.002% on buy |
| Commodity Option | NA | 0.003% on buy |
| Currency Future | NA | 0.0001% on buy |
| Currency Option | NA | 0.0001% on buy |