Product Details
Brokerage and Fees
No fee is charged to users for investing in mutual funds. However, it is important to understand that ShareMarket (Phone Pe) only offers 'regular mutual fund schemes' and not 'direct mutual fund schemes'. Regular mutual fund schemes charge a higher expense ratio - (expense ratio is a fee which is charged by all mutual funds schemes from mutual fund investors). Regular mutual fund schemes charge a higher expense ratio because they have built-in commission for mutual fund distributors/platforms selling regular mutual fund schemes like ShareMarket (Phone Pe).
Account Opening Fees
INR 0
Eligibility
Competent to contract within the meaning of the Contract Act, 1872 and at least 18 (eighteen) years of age, Indian Citizens and tax residents of India.
Annual Fees
Nil
ShareMarket (Phone Pe) Mutual Funds Investment App Review
Special Features
WealthBaskets: ShareMarket offers pre-curated stocks or mutual funds baskets targeting specific investment goals or themes. This can be helpful for beginners who are unsure about individual fund selection.
Features
Cons
Limited selection of mutual funds: ShareMarket might not offer the entire universe of mutual funds available in India. You might have fewer options to choose from compared to other platforms.
New platform: Being a relatively new player, ShareMarket's platform might have fewer features or functionalities compared to more established brokers.
Limited investment research: There might be limited investment research tools or resources available directly on ShareMarket, requiring you to conduct your research elsewhere.
Pros
Convenience: Integrated directly into the PhonePe app, ShareMarket offers frictionless investing for existing PhonePe users. You can manage your investments alongside your other financial activities.
User-friendly interface: PhonePe is known for its user-friendly design, and ShareMarket likely inherits this simplicity, making it easy to navigate and invest.
Security and trust: Backed by PhonePe's reputation for secure transactions, ShareMarket should provide peace of mind regarding your investments and personal information.
Pros and Cons
How to Apply?
How to open an account:
Download the Share.Market app: You can download the app from the Google Play Store or Apple App Store.
Open the app and tap "Continue with PhonePe": This will link your PhonePe account with Share.Market.
Enter your mobile number and verify it with an OTP: Make sure the mobile number you enter is linked to your Aadhaar.
Tap "Open Account": Follow the on-screen instructions to complete the account opening process. You'll need to provide your personal and financial details and complete the KYC process.
Documents Required
Aadhaar and PAN for online account opening.
Account Opening and Procedures
Documents Required
Aadhaar and PAN for online account opening.
How to Apply?
How to open an account:
Download the Share.Market app: You can download the app from the Google Play Store or Apple App Store.
Open the app and tap "Continue with PhonePe": This will link your PhonePe account with Share.Market.
Enter your mobile number and verify it with an OTP: Make sure the mobile number you enter is linked to your Aadhaar.
Tap "Open Account": Follow the on-screen instructions to complete the account opening process. You'll need to provide your personal and financial details and complete the KYC process.
Account Opening and Procedures
ShareMarket (Phone Pe) Mutual Fund Investment App Review
ShareMarket can be a good option for PhonePe users who are comfortable with the platform and want a convenient way to invest in mutual funds. However, consider the limited fund choices and potentially fewer features than established brokers.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Recommedation For Stock Market Investment
Add a Title
Add a Title
Add a Title