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Brand:A leading retail stock broking brand with top of the mind recall in the stock investing population across India. We are committed to increase the brand awareness across all medium and through multiple PR initiatives.
Technology: A customer-centric focus on technology has helped us stay ahead with pioneering product launches like TradeTiger. A fully automated advanced risk monitoring system supported by an integrated back office ensure smooth transaction for customers and hassle-free business operations for our business partners.
We offer a complete range of investment products that covers Equities, F&O, Commodities, Mutual Fund, IPOs, through our online platform. This will enable you to offer a 'One Stop Solution' for all stock market needs of your customers. Click to see our entire product range >>
What our Partners have to
Robust software: Online DP access, Risk Management, Customer Information and Back office support, along with state of the art online knowledge sharing tools, maximize information availability at your fingertips.
Research: In an information-centric business like ours, knowledge makes all the difference. We deliver quality and in depth research through our Central Research team of analysts, covering fundamental and technical research, derivatives, mutual funds and IPO.
Training: Comprehensive three levels of training to the business partners at the nearest branch, at their own outlet and at the head office. Ongoing training support for the business partners as well as the employees is just a call away.
Business Support: Sharing business development and business generation ideas along with planning client level events for your outlet. Better local level visibility and higher leverage on the brand
Advisory Support: Access to Sharekhan research advice in real-time on Sharekhan Trade Tiger terminal. Dedicated Advisory relationship managers to help you chart a business plan and help you in your day-to-day business as well as owning up the clients portfolios
Best business practices: With customer interest as the core value, best practices and directives from regulators help in building greater trust and transparency.
Customized Retail Design: Expert Assistance to design your office premises synonymous with our corporate identity
Acquire more customerswith our Marketing Efforts:
Say
With Sharekhan, the
systems software and
processes to run my
day-to-day business are
simply wonderful.
There is system
monitored risk
management and
business support to
grow my business. Any
support is just a call
away.
Krishna Rungta,
Sharekhan Franchisee,
Patna
Saurabh
Bardia,
Sharekhan
Franchisee,
Jabalpur"Wit
h its ethical
functioning
and
compliance
driven
processes,
Sharekhan
keeps us and
customers
fully
confident
about its
Integrity.
Everyone is
so responsive
to help us
grow the
business"
Benefit from the Big Picture: Leverage Sharekhan’s efforts in National-level advertising and presence in mass media
Presence in your Region: Customized marketing and business development effort as per your need and wants at the regional level
Sharekhan Ltd.: BSE Cash-INB011073351; F&O-INF011073351; CD - INE011073351; NSE – INB/INF231073330; CD -
INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004;
PMS INP000000662; Mutual Fund: ARN 20669. Sharekhan Commodities Pvt. Ltd.: MCX-10080; (MCX/TCM/CORP/0425);
NCDEX -00132; (NCDEX/TCM/CORP/0142); for any complaints email at [email protected]. Regd Add:- Lodha iThink Techno
Campus, 10th Floor, Beta Building, Off. JVLR, Opp. Kanjurmarg Station, Kanjurmarg (East), Mumbai – 400 042, Maharashtra.
Investing in equities & commodities future involves risk. Please carefully read the risk disclosure document as prescribed by SEBI
& relevant exchanges a
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Why Angel?
The most trusted retail-centric broking house with 'Service Truly Personalized'.
Angel is among the top five broking houses in the country.
Angel was first to concentrate on retail-centric research.
Angel was first to adopt the branch concept.
Angel was first to launch the web-enabled Back Office Software for sub brokers and clients.
Angel has the highest number of registered sub-brokers on BSE and NSE.
Angel has the highest number of trading terminals (excluding e-broking terminals).
Angel has been awarded most coveted ‘Major Volume Driver’ award by BSE from the year
2004-05 to 2008-09.
Angel has recently been awarded two prestigious award of "Best Retail Broking House" and
"Broking house with Largest Distribution Network" by Dun and Bradstreet.
Mobile
City
Nearest Branch
Click Here For New Code
To say that online investing has grown extraordinarily fast over the past couple of years is akin to
describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net,
finding the right online broker takes some doing.
Given that online trading is still at a nascent stage, online brokers are willing to offer many options --
brokerages that decline as volumes soar, waiver of account opening charges, access to research reports,
and the facility of transacting in financial instruments through the trading website. So whom should you
choose? The answer depends on a host of variables -- both qualitative and quantitative.
Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards.
It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and
transaction, and the customer service quality of the e-broker, the only human interface in the entire
mechanism. Nonetheless, there are some key factors that help you compare e-brokers.
Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his
brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and
starts trading. But this promise is contingent on the trading volumes of the investor.
The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75
per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in
excess of Rs 5 crore (Rs 50 million).
The brokerage for the quarter that follows the opening of an online trading account is determined by the
opening amount of investment, irrespective of the subsequent investments in that quarter.
Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter
and the opening amount of the next quarter determines the brokerage that will be paid in that quarter.
While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest --
0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of
turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage.
For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs
1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be
Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over
5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for
investments less than Rs 2 lakh.
For onliners
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality. The broker's infrastructure should be able to handle large trade volumes.
Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with
the brokerage firm - a demat account to keep the shares and a trading account to trade.
If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an
account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company
and a trading account with another since it delays the settlement of shares and cash.
Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have
a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ]
charge nothing at all.
Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they
charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and
charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum
transaction amount, but the minimum brokerage is Rs 20.
Margin trading. This is available in the online domain and involves paying only a proportion of the trade
value upfront. Such trades could attract higher brokerage than the regular transactions.
Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for
longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of
the trade that is not paid upfront.
Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell
- through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an
intermediary between the investor and the broker, and plays the helpful tipper.
Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily
translate into big bucks.
Tie-ups with banks. To trade with a broking company, you need to have an account with one of its
collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz
scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones.
Apart from the charges mentioned above, an investor is required to pay the security transaction tax and
service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the
transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade.
Anand Rawani, Outlook Money
Share
this
Ask
Users
Write a
Comment
To say that online investing has grown extraordinarily fast over the past couple of years is akin to
describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net,
finding the right online broker takes some doing.
Given that online trading is still at a nascent stage, online brokers are willing to offer many options --
brokerages that decline as volumes soar, waiver of account opening charges, access to research reports,
and the facility of transacting in financial instruments through the trading website. So whom should you
choose? The answer depends on a host of variables -- both qualitative and quantitative.
Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards.
It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and
transaction, and the customer service quality of the e-broker, the only human interface in the entire
mechanism. Nonetheless, there are some key factors that help you compare e-brokers.
Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his
brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and
starts trading. But this promise is contingent on the trading volumes of the investor.
The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75
per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in
excess of Rs 5 crore (Rs 50 million).
The brokerage for the quarter that follows the opening of an online trading account is determined by the
opening amount of investment, irrespective of the subsequent investments in that quarter.
Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter
and the opening amount of the next quarter determines the brokerage that will be paid in that quarter.
While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest --
0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of
turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage.
For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs
1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be
Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over
5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for
investments less than Rs 2 lakh.
For onliners
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality. The broker's infrastructure should be able to handle large trade volumes.
Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with
the brokerage firm - a demat account to keep the shares and a trading account to trade.
If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an
account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company
and a trading account with another since it delays the settlement of shares and cash.
Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have
a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ]
charge nothing at all.
Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they
charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and
charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum
transaction amount, but the minimum brokerage is Rs 20.
Margin trading. This is available in the online domain and involves paying only a proportion of the trade
value upfront. Such trades could attract higher brokerage than the regular transactions.
Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for
longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of
the trade that is not paid upfront.
Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell
- through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an
intermediary between the investor and the broker, and plays the helpful tipper.
Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily
translate into big bucks.
Tie-ups with banks. To trade with a broking company, you need to have an account with one of its
collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz
scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones.
Apart from the charges mentioned above, an investor is required to pay the security transaction tax and
service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the
transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade.
Anand Rawani, Outlook Money
Share
this
Ask
Users
Write a
Comment
To say that online investing has grown extraordinarily fast over the past couple of years is akin to
describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net,
finding the right online broker takes some doing.
Given that online trading is still at a nascent stage, online brokers are willing to offer many options --
brokerages that decline as volumes soar, waiver of account opening charges, access to research reports,
and the facility of transacting in financial instruments through the trading website. So whom should you
choose? The answer depends on a host of variables -- both qualitative and quantitative.
Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards.
It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and
transaction, and the customer service quality of the e-broker, the only human interface in the entire
mechanism. Nonetheless, there are some key factors that help you compare e-brokers.
Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his
brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and
starts trading. But this promise is contingent on the trading volumes of the investor.
The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75
per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in
excess of Rs 5 crore (Rs 50 million).
The brokerage for the quarter that follows the opening of an online trading account is determined by the
opening amount of investment, irrespective of the subsequent investments in that quarter.
Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter
and the opening amount of the next quarter determines the brokerage that will be paid in that quarter.
While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest --
0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of
turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage.
For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs
1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be
Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over
5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for
investments less than Rs 2 lakh.
For onliners
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. Opt for the same depository and trading body to avoid delays in settlement of shares and cash. Margin trading could attract higher brokerage than regular transactions. Online brokers provide regular updates on market favourites. Pick the online broker with the maximum number of collaborating banks. Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality. The broker's infrastructure should be able to handle large trade volumes.
Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with
the brokerage firm - a demat account to keep the shares and a trading account to trade.
If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an
account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company
and a trading account with another since it delays the settlement of shares and cash.
Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have
a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ]
charge nothing at all.
Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they
charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and
charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum
transaction amount, but the minimum brokerage is Rs 20.
Margin trading. This is available in the online domain and involves paying only a proportion of the trade
value upfront. Such trades could attract higher brokerage than the regular transactions.
Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for
longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of
the trade that is not paid upfront.
Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell
- through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an
intermediary between the investor and the broker, and plays the helpful tipper.
Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily
translate into big bucks.
Tie-ups with banks. To trade with a broking company, you need to have an account with one of its
collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz
scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones.
Apart from the charges mentioned above, an investor is required to pay the security transaction tax and
service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the
transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade.
Anand Rawani, Outlook Money
Share
this
Here you will find a table comparing intraday brokerage charges and delivery brokerage charges charged by
different online brokers in India : Sharekhan, ICICIdirect, Motilal Oswal, Religare, SBICAP Securities, Angel
Broking, 5paisa, Indiabulls, UTI Securities, HDFC Securities, Indiainfoline, Reliance Money
Online BrokerBrokerage for
Delivery
Brokerage for
Intraday tradingMMC*
SBICAP Securities
brokerage charges0.50% 0.10% NIL
Sharekhan
brokerage charges0.03% - 0.50% 0.03% - 0.10% NIL
Motilal Oswal
brokerage charges0.30% - 0.50% 0.03% - 0.15%
5 paisa
brokerage charges0.25% - 0.85% 0.07%
Angel Broking
brokerage charges0.50% 0.02% - 0.03%
ICICI direct
brokerage charges0.75% 0.15%
Indiabulls
brokerage charges0.25% - 0.50% 0.05% - 0.10%
HDFC Securities
brokerage charges0.50% 0.15%
UTI Securities
brokerage charges0.80% 0.15%
Religare
brokerage charges0.20% - 0.30% 0.02% - 0.03%
Reliance Money
brokerage charges0.01% 0.01% card system
Geogit
brokerage charges
0.30% 0.03%
Indiainfoline
brokerage charges0.50% 0.10% -
PPFAS
brokerage charges
0.25%0.05%
MMC=Minimum monthly commitment.
Brokerage is usually negotiable: Several of you trying to choose an online broker and
open an online trading account must have been frustrated trying to search for the exact
brokerage charges charged by various online brokers. But the fact is the brokerage charged by
the same broker varies and in several cases is negotiable. For example if you go and tell a
brokerage house that you are going to deposit 2 lakh rupees and try to convince them you are
going to trade heavily, they might consider reducing your brokerage. That is why in the above
table you will find only a range for the brokerage charges in some cases. But that should be
enough to get an idea.
Effective brokerage with taxes is more: In addition to the above brokerage charges
you will have to pay STT (Securities Transaction Tax) at the rate or 0.02% of the total
transaction amount. You will also be charged 12.5% Service Tax on the brokerage amount
(and not on the transaction amount). For example, if your brokerage is 0.50% for delivery and
you do a delivery transaction of Rs.100/- then the total brokerage you pay is
0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 .
Thus your effective brokerage (including all taxes) will be 0.58%. Similarly for brokerage on
intraday transactions.
One may also like to compare brokerages charged by the online brokers mentioned
above for trading in futures and options. For futures, some online brokers charge different
brokerage for different legs of the trade, i.e. different for buy and sell trade.
The information here is gathered from indirect sources. In case there are any
inaccuracies please let me know by Contacting Us
Angel Trade Stock Trading / Demat / Brokerage
Angel Group has emerged as one of the top 3 retail broking houses in India.
Incorporated in 1987, it has memberships on BSE, NSE and the two leading
commodity exchanges in India i.e. NCDEX & MCX. Angel is also registered
as a depository participant with CDSL.
Angel's retail stock broking house offering a gamut of retail centric services.
Ebroking
Investment Advisory
Portfolio Management Services
Wealth Management Services
Commodities TradingTrading Platforms:
Angel Trade provides 4 trading platforms, 2 are browser based & 2 are
HSBC InvestDirect Stock Trading / Demat /Brokerage
HSBC InvestDirect (India) Limited (HIL) is one of the India's leading
financial services organizations providing varied range of services
through its subsidiaries to Individual and Corporate customers. HIL is
listed on the Bombay Stock Exchange Limited (BSE) and National Stock
Exchange Limited (NSE).
HSBC InvestDirect offers various services that include equity broking,
wealth management, IPO distribution and portfolio management
services. HSBC InvestDirect has around 240 offices in 80 cities around
the country.
Trade In: BSE and NSE
application based.
Angel investor
It is a browser based trading platform. The rates are updated on
clicking the refresh button. This facility ensures it is not blocked by
firewall. Thus it is useful for investor who needs to access information
from places where firewall blocks such data.
Angel Trade
It is a browser based trading platform. The rates are updated
automatically. This platform is useful for investors & traders to access
market from different terminals.
Angel Diet
It is an application based trading platform where rates are updated
automatically. All segments are available on a single screen. This is
ideal platform for the daily traders.
Angel Anywhere
It is an application based trading platform where rates are updated
automatically. This is ideal for investors & traders who are inclined
towards trading based on charts & technical tools.
Brokerage and fees:
Account opening fees:
Stock trading account - Rs 575/-
Demat account - Rs 200/-
Commodity trading - Rs 625/-
Brokerage:
For trade up to the range of Rs 1 - 3 Crore:
Cash Based: 0.50%
Day trading: 0.05%
Online Stock Trading Platforms:
HSBC InvestDirect offers 3 different online trading platforms to their
customers:
SmartSTART
SmartStart is a powerful browser based Trading platform for
beginners. SmartStart trading platform allows their investor to
flexibility of trading on both the NSE & BSE via a single screen.
Features:
Trade on NSE & BSE
Simple order entry for Equity & Derivatives
Fully Customizable display
User friendly Get Quote screen
Seamless 3-in-1 proposition
Live order status
Track your orders real-time
Dynamic buying power
Works behind a Proxy
10. Back office access
SmartINVEST
SmartInvest is a browser-based trading platform for customers
who transact occasionally. It is ideal for investors who believe in
the Buy and Hold approach towards investment in equities. It
gives the benefit of real-time streaming data with the flexibility of
trading on any Internet capable system.
Features:
Instant access to account with no wait time
Works behind a Proxy
Live Streaming quotes
Multiple Watch lists
Derivatives: 0.05%
For trade more than Rs 3 Crore, brokerage is about 0.03%.
about the procedure to open an account.
Advantages of Angel Trade
User friendly browser-based / application based online trading
The auto square off time is at 3:15 and an investor can buy up to 4
times the value in his account.
Trading account can be linked with popular private banks like HDFC
Bank, ICICI Bank, UTI bank etc.
Trading is available in both BSE and NSE.Disadvantages of Angel Trade
Online money transfer from trading account to bank account is
not available:
Trading account can be linked with popular private banks like HDFC Bank,
ICICI Bank, UTI bank etc. A trader can transfer money from his bank to the
trading account online. But the reverse transactions are not yet available
This means money, a trader gets after selling shares doesn’t get credited in
his bank account directly. The trader has to call Angel Trade and request for
the deposit. This takes couple of working days.
This way angel trade is kind of behind with ICICIDirect where 3 accounts
(Bank account, trading account and demat account) are connected so
seamlessly that no manual interfere requires. In ICICIDirect, a trader gets the
money back into his ICICI Bank account as soon as the trader settle down.
NSE & BSE Access
Single order form for Cash and FnO
Point and Click order entry
Hot Key Functions
Back Office access
SmartTRADE
SmartTrade is an EXE based desktop software designed for
active traders who transact frequently to capture short-term price
movements. This platform gives more personalized investment
options to the investors. Following are few popular features of
SmartTrade account.
Features:
Fully Customizable display
Dynamic Charts with Indicators
EOD Charts
Real-Time market data
Advanced Alert capabilities
Live order status
Track your orders real-time
Real time position updates
Dynamic buying power
10. Message window dockingUseful links about HSBC InvestDirect
Website: http://www.hsbcinvestdirect.co.in
FAQs:http ://www.hsbcinvestdirect.co.in/hsbc-webapp/
OnlineTrading/Forms/FAQ.jsp
Phone: +91-22-30637777
Toll Free: 1800-209-4477, 1800-22-4477
E-Mail: customerservice @hsbcinv.com
Angel & HSBC
Geojit & Networth
ICICI & Indiabulls
IDBI & Religare
Motila Oswal & HDFC
Stanchart & Reliance Money
Kotak & PPFAS
There are more than 8,000 SEBI registered brokers and sub-brokers, all providing a similar service, i.e., buying and selling securities. Given this
large number, it would be very difficult for you to find the right broker. You must, hence, look for the following factors before selecting a broker:
1. Reputation: Broking is a business that requires a low capital base. An individual/corporate/institution can acquire membership as a broker of
National Stock Exchange (NSE) with a net worth of 100 lakhs. No wonder, the number of brokers has grown manifold. Hence, it is critical to deal
with a broker who has a good reputation. This is broadly reflected in the past record and the credibility that he enjoys in the market. A reputed
broker protects the investor from default risk, fraud and other financial risks. Several institutional brokers have an impeccable track record. Some of
these are,’ ICICI Securities’,’ HDFC Securities’, ‘Motilal Oswal Securities’ etc.
2. Flexibility: The stock exchanges follow the T+2 settlement schedule. This means that settlement occurs two days after the transaction.
Hence, if you decide to buy shares on a given day, you must submit the cheque to the broker well in advance, so that he can deposit the amount with
the exchange. Some of the brokers do provide flexibility in terms of payments made, while others ask for an upfront payment of funds. Brokers also
allow margin based trades and square off of positions in intra-day transactions. Ideally, you must check with the broker as to what are the facilities
available.
3. Broking rates: As per SEBI guidelines, a broker can charge a maximum of 2.5 per cent of the consideration as brokerage. The standard rate
charged by most, ranges from 0.20 to 0.75 per cent for delivery based and .001 to .05 for intraday. Brokerage inflates the cost of purchase and
reduces the realization from sale of securities. You must therefore check the rates charged. Sometimes, a minimum transaction charge is attached
irrespective of the value. Brokers also provide competitive rates to the high value investors and to regular traders.
4. Different modes of transactions: An investor can buy or sell securities, either by phone, by giving an order through the internet or by making
personal visits. The broker identifies transaction done on telephone by an alphanumeric code allocated to the investor. Web based transactions are
conducted by using a user id and password on the broker’s website. This is basically a unique identification for each client and also a security
mechanism.
Service Quality: Service quality of the broker is another important determinant. For instance, how fast a broker can transact for his clients reflects
his service standards. Since markets operate on a real time basis, at times, small delays result in financial losses. Another aspect of quality is transfer
of security by the broker to the client account, settlement of funds, timely dispatch of contract notes, providing transaction ledger to the clients etc.
Selecting a depository participant (DP): Gone are the days when shares were bought and sold in physical form. In India, securities are, today,
transacted in electronic form, which is made possible by the process of dematerialisation (demat). A demat account is where your securities are kept
in electronic form. Just like a bank account is opened with a bank, a demat account is opened with a Depository Participant (DP). DPs are
authorised by law in India to open demat accounts and are agents of the depository, acting as intermediaries between you and the depository. The
DP set up works on a book entry form where shares are debited and credited as and when clients buy or sell. A buy transaction results in credit entry
while a sell transaction leads to a debit entry.
There are more than 250 DPs registered with two depositories in India, which are NSDL (National Securities Depository Limited)
(Central Depository Services Limited). Once again, due to this high number, you must filter the right choice before you open a demat account.
There are several kinds of DPs operating in the market. They can be broadly classified as follows:
1. Banks working as DPs such as HDFC Bank, ICICI Bank, UTI Bank and several PSU Banks.
2. Custodians such as Stock Holding Corporation of India Ltd., Infrastructure Leasing and Financial Services (IL & FS)
3. Brokers acting as DPs like ShareKhan, Motilal Oswal, Anand Rathi etc.
4. Others would include Indiabulls and Foreign Banks
How to select a DP of your choice: You need to keep the following in mind while selecting a DP:
a. Reputation: Three leading DPs in India in terms of number of demat accounts are ICICI Bank, Stock Holding Corporation of India Ltd. and
HDFC Bank. Though there is no method available to grade DPs, certain past events give a fair idea of their standing. When SEBI carried out
inspections in the IPO scam in 2006, some DPs were found to be following unfair practices and consequently penalties were levied on them. Such
events may be used as benchmarks for reputation. Also, you should check whether the DP follows the guidelines imposed by the depository while
opening your demat account. The web page of NSDL and CDSL provide FAQs for investors in this regard.
b. Cost: With effect from 1st April 2007, SEBI has made it mandatory for DPs to display the charges that they levy on investors on the SEBI
website. This is updated twice a year so that you can analyse the charges of different DPs. Some standard charges are as follows:
1. Annual Maintenance Charges
2. Charges for debit in demat account
3. Demat and remat charges
4. Charges for pledge of securities
It is important for you to know that now DPs are not allowed to charge for opening accounts, crediting demat accounts and transfer of
accounts from one DP to another, if the account is in the same name. Further, some broker DPs, don’t charge separately for demat accounts.
However they club these charges along with brokerage. You must therefore clarify with broker DPs regarding the charges.
c. Accessibility: Since you get only two days to transfer shares from your account to the broker’s account in case of a sale, you must check
whether the DP is easily accessible or not. Investors who have opened demat accounts with DPs, who are registered with NSDL and CDSL for
electronic transfer of shares, can avail of this facility. This means that you need not visit the DP’s office personally to submit the delivery
instruction slip meant to transfer shares from your account to the broker’s account. It would therefore be better if you avoid those DPs who do not
offer electronic transfer facility and are not well spread geographically.
Need for a banking account: Transactions involving shares require movement of money in and out of your account. Hence, bank accounts are
mandatory along with broking and demat accounts. You may use your savings account for purchase and sale of shares by notifying the bank
account details in your demat and broking account.
Three-in-One demat account: Some brokers and banks offer a ’Three In One’ demat account, where you open a demat, broking and bank account
with the same entity, in case of a bank DP. Elsewhere, if the DP is a broker, an existing bank account can be used for the purpose of a ’ Three In
One’ account. This ensures easy transfer of funds. However, in some cases the brokers insist on opening a bank account with a particular bank as
they often have tie ups with that bank. These accounts or tie ups are beneficial as they provide a one stop solution to you, thereby saving your time
and unnecessary paper work. This has also proven to be cost effective. E-trading platforms are also available in most cases where, ‘Three in One
account’ facilities are available. This facility is majorly given by banks serving as DP and Broker
Requirements for opening a demat account: The following documents are required to open a demat account:
a. Proof of residence (NSDL and CDSL provide a list of acceptable documents as POR which include electricity bill, phone bill, ration card,
driving licence etc.)
b. Proof of identity (PAN card is mandatory)
c. Bank account details (A cancelled cheque for capturing MICR)
d. Nominee details
Bank account details must get properly captured in a demat account as benefits like dividend and interest are directly credited in the bank account. Also, when
you make an application for an IPO, you receive a direct credit in your account to the extent of shares not allotted.
Requirements for opening a broking account: The following documents are essential to open a broking account:
a. Proof of residence (A list of acceptable documents provided)
b. Proof of identity (Since PAN is must, it is used as POI)
c. Bank account details (cancelled cheque for direct debits and credits)
What will happen if my DP goes bankrupt or stops operation?
In a rare event of your DP going bankrupt or closing its operations, the interests of the investors will be fully protected. In such situation, the
investor will be given an option of either transferring the securities to a new DP or rematerialize the securities.....
Online Broker Selection
Starting investments: Once you are through with this paper work, you are ready to start investing. Buying and selling shares on the market occurs
from 9: 00 a.m. to 3:30 p.m. on all working days. Stock exchanges don’t work on Saturdays, Sundays and notified holidays.
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
Kotak Securities Stock Trading /Demat /Brokerage
Incorporated in 1994, Kotak Securities Limited, the leading stock broking house of India is 100%
subsidiary of Kotak Mahindra Bank. Company offering includes stock broking through the
branch and Internet, Investments in IPO, Mutual funds and Portfolio management service. It also
offers portfolio management services to high net worth individuals and corporate customers.
Kotak securities also distributes a range of financial products, including company fixed deposits,
mutual funds, initial public offerings, secondary debt, equity, and small savings schemes.
Most of the services provided by the company are available though its internet portal. In early
2009 company launched Saxo's global trading platform in India. This platform provide direct
access to equities, ETF's and REITS spanning 24 stock exchanges across the USA, Europe,
Kotak Securities is a corporate member of both Bombay Stock Exchange (BSE) and National
Stock Exchange (NSE). Currently, Kotak Securities is one of the largest broking houses in India
Kotak offers different account types according to users requirement:
Super Derivatives account is specially made for those investors who are averse to
taking risks and trade high volumes in futures and options.
PPFAS (Parag Parikh Financial) Trading/ Demat/ Brokerage
PPFAS offers you a pure delivery based trading platform through online trading system at a very
low cost. Our Company is not impersonal like other online brokerage firms. Clients can chat, call or
visit us for help or advice. The online platform of PPFAS may not be suitable for clients looking for
Futures and Options trading as PPFAS offers online brokerage services only for cash market
transactions. PPFAS believes that Futures and Options carry inherent risk and transactions in this
segment can be done only over the phone. Further margins charged by PPFAS are more than the
minimum prescribed by the exchange. This is to prevent forced square off of transactions in volatile
markets.
Account Opening
Client can open an online trading account from anywhere in India.
Multiple banks to transfer funds
You will have options of multiple banks to transfer funds like ICICI Bank, HDFC Bank and Axis
Bank. This is unlike the bank promoted brokerage firms ICICIDirect.com or HDFC Securities, which
restrict it to the parent bank.
Attractive Brokerage
Attractive brokerage rates: 0.25% vs. 0.50% to 0.75% charged by other online brokerages.
Further this discounted rate comes to you regardless of volumes. We do not take volume
commitments. Some brokers offer lower rates only to people who do a very high volume of
transactions. We are however not in the business of providing virtually free brokerage or pre-paid
card kind of brokerage.
Risk would be reduced in this account as account is mainly focused on derivative
investments. Kotak has dedicated teams for technical and derivative analysis. Kotak’s
analyzing team analyzes various parameters of derivative data, so investor need not to
waste their time on data analyzing. An investor gets access to both dealers and experts
so they can speak to them directly via phone/chat. This opportunity gives investor to
know the rationale behind a particular position or strategy at all times, identify
opportunities and know details on market movements etc. In Super Derivatives account
an investor also will be able to use advanced strategies. Kotak’s experts suggest
strategies to their investor’s positions where the risk return ratio is much lower.
One can activate Kotak securities Super Derivatives account with minimum amount Rs.
25 lakh as margin, by way of cash or stock. For Derivative brokerage - Futures is .05%
both sides and for Derivative brokerage - Options is 0.05% or Rs 150 per contract
whichever is higher (both sides). Delivery Brokerage is 0.45%.
AutoInvest is a unique Online Trading Account which provide investment planning in
Gold ETFs (Exchange Traded Funds), Equities and Mutual Funds to their customers.
Gold ETFs are mutual fund schemes that will invest the money collected from their
investors in standard gold bullion.
Kotak's advisor gives the recommendation according to investor's risk capability and
investment plans. Minimum investment of Rs 5000 required for AutoInvest account.
Kotak Gateway account opens the gateway to a world of investing opportunities for
beginners. Kotak Gateway user can trade anywhere, anytime using internet. Kotak also
offers call and trade facility.
Kotak Securities provide SMS alert, research report, free news and market updates to
the account holders. Best feature of Kotak gateway is call and trade facility. Anybody
can activate Kotak Gateway account with any amount between Rs 20,000 to 5, 00,000.
Free of cost - Diet Software for Online trading
Apart from using online version of IBT, clients get software (DIET) for trading free of cost. Other
companies charge 700-2000 for the software + 150-900 depending from firm to firm.
Research Recommendations
Clients benefit from the published research of PPFAS. Clients can also interact with our dealing
team and seek guidance on their portfolio.
Other Benefits
Quick assistance to clients who need help available
Clients can make their own decisions and take actions quickly without calling a dealer.
Payouts takes play directly to your account.
Clients have an option of dealing over the phone in case of connectivity problems.
Depository Services
You will be able to keep track of your broking account and demat account balance under the same
roof.
You will be enjoying the following benefits of opening demat account with us:-
Maintaining demat account with us will be very cost effective as we have a flat charge of
Rs. 13/- per transaction.
You do not have to give delivery instructions as you can operate this account by executing
POA (Power of Attorney) in favour of PPFAS for sale transactions.
You do not have to keep track of maintaining collateral/margins as our operations
department will take care of the same on your behalf.
This can be in form of cash deposit or the value of the shares you buy. Brokerage will
be charged based on the account type. For intraday trading brokerage is .06% both
sides for less then 25 lakhs and .023% for more then 25 crores.
Kotak Privilege Circle is the premium investment account offed by Kotak Securities.
Along with Kotak Gateway account benefits Kotak provides independent market
expertise and support through a dedicated relationship manager and a dedicated
customer service desk which provides assistance in opening accounts, handling day-to-
day problems, and more. They provides KEAT premium which is an exclusive online
tool that lets you monitor what is happening in the market and view your gains and
One can activate Kotak Privilege Circle account with any amount more than Rs.
10,00,000 as margin, by way of cash or stock. For intraday trading brokerage is .06%
both sides for less then 25 lakhs and .03% for more then 25 crores.
Other then above 4 accounts, Kotak Securities also provide following accounts:
Kotak Freedom for Mutual Fund Investments.
Kotak Super Saver, a Flat Brokerage and a Low Margin account.
PMS (Portfolio Management Service), an account for people who need an
expert to help to manage their investments.
NRI Account, a online trading an investment account for NRI investors.Brokerage and Account opening fees:
For Intra-day trading, Kotak brokerages are from 0.02% to 0.06% both sides.
For delivery trading, Kotak brokerages vary from 0.18% to 0.59% based on the amount
Check current brokerage rate offered by Kotak
://www.kotaksecurities.com/supertrader/lowbrokerage/lowbrokerage.html
You will be able to track your stock as at the time of executing sale order, system will
automatically check the availability of balance in your demat account which mitigates the auction
fear.
You will be able to view online your stock balance along with stock values through our
website.
You will be intimated by NSDL of any debit transaction in your demat account as well as of
credit effect against corporate action like bonus, stock split, merger, demerger or IPO allotment if
any in your account through SMS.
Brokerage Charges
http://www.ppfas.com/pdf-docs/products-services/stock-brokerage/charges-ibt.pdf
Advantages of Kotak Securities Online Trading
Through its web portal company provides a single platform for investments in equities,
Mutual Funds and currency derivatives. Available margin can be used for any of the three
Saxo's global trading platform provided by the company allows direct access to equities,
ETF's and REITS spanning 24 stock exchanges across the USA, Europe, Asia and Australia.
In late 2008 company launched an interesting ‘Smart Order’ feature to its online trading
portal. While placing an order to buy or sell stocks at BSE and NSE, customer can choose this
option. Once selected, this option offers customers the best available price between BSE and
NSE. This option is available to all the customers of the company.
Kotak also provides a Call & Trade facility to its customers wherein they can place and
track their orders through phone when they are away from home.
Kotak Securities provide daily SMS alerts, market pointers, periodical research reports,
Kotak provides exclusive online tool to monitor what is happening in the market and also
investor can view gains/losses in real-time.
Customer support chat helps customers to resolve issues faster.
Kotak securities have Citibank, HDFC Bank, UTI Bank and Kotak Mahindra Bank as
designated banks for its trading account. Investors holding account with these banks can easily
integrate the brokerage account with Kotak.Disadvantages of Kotak Securities Online Trading
Slow website response time.
Demo of the online trading portal is not available.
IDBI & Religare Motila Oswal &
Stanchart & Reliance Money
Geojit & Networth
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
http://www.theequitymarkets.com/brok_hs_kotak.htmhttp://www.theequitymarkets.com/brokerage%20charges.htmhttp://www.theequitymarkets.com/brok_hs_angel_hsbc.htmhttp://www.theequitymarkets.com/brok_hs_icici_ibulls.htmhttp://www.theequitymarkets.com/brok_hs_idbi_religare.htmhttp://www.theequitymarkets.com/brok_hs_angel_hsbc.htmhttp://www.theequitymarkets.com/choosing_a_broker.htm
Comparison of Brokers in India
Stock Broker
Choosing A Broker
Online Broker Selection
Online Trading Tips
Demat Account
Demat Account Charges
A comprehensive
report on major
brokers (BSE and
NSE) comparing
details such as
demat account
opening fees,
brokerage charges,
annual maintenance
charges, supported
browsers, features
etc.
When opening a
new demat account
with a broker
Brokerage Houses
Brokerage Structures of Major Broking Houses In India
Broker Comparison
negotiate and try to
get some of the
charges waived off.
Angel Broking
Account
Opening Charge
(AOC): Rs 740
Annual
Maintenance
Charge (AMC):
1st year free. Rs 300
2nd year on.
Brokerage:
50p (delivery‡), 10p
(intra-day). Rate
negotiable for bulk
orders.
Bonanza
Account
Opening Charge
(AOC): Rs 888
Annual
Maintenance
Charge (AMC): Nil.
Brokerage:
25p (delivery‡), 5p
(intra-day‡).
Canmoney
Account
Opening Charge
(AOC): Rs 500
Annual
Maintenance
Charge (AMC):
1st year free. Rs 200
2nd year on.
Brokerage:
0.35% (delivery‡).
Buy - Nil, Sell -
0.05% (intra-day)
(Min Rs 20; Max Rs
500).
Enquiry: 1-
800-220-369
Geojit BNP Paribas
Account
Opening Charge
(AOC): Rs 650
Annual
Maintenance
Charge (AMC): Rs
300
Brokerage:
0.30% (delivery‡).
0.03% (intra-day)
Browsers:
IE 6.0+
Enquiry: 1-
800-425-5501
HDFC Securities
Account
Opening Charge
(AOC): Rs 799
Annual
Maintenance
Charge (AMC):
1st year free. Rs 500
2nd year onwards.
Brokerage:
Higher of Rs 25 or
0.5% of transaction
value (delivery).
Higher of Rs 25 or
0.1% of transaction
value (intra-day).
Browsers:
IE 5.0+, NN 8.1+
and FF 1.5+
Enquiry: 1-
800-209-9700
ICICI Direct
Account
Opening Charge
(AOC): Rs 975
Annual
Maintenance
Charge (AMC):
1st year free;
Second year on Rs
500 (paper
statements), Rs 450
(email statements)
Brokerage:
Higher of Rs 25 or
0.75% (delivery).
Higher of Rs 15 or
0.05% of transaction
value (intra-day).
IDBI Paisabuilder
Account
Opening Charge
(AOC): Rs 499
(basic plan), Rs
700+ (turnover
based plan)
Annual
Maintenance
Charge (AMC):
1st year free;
Second year on Rs
350
Brokerage:
0.65% (delivery),
0.06% (intra-day).
Browsers:
IE 6.0+
Enquiry: 1-
800-223-366
Indiabulls
Account
Opening Charge
(AOC): Rs 900
Annual
Maintenance
Charge (AMC): Nil
Brokerage:
0.35% (delivery).
0.05% (intra-day).
India Infoline
Account
Opening Charge
(AOC): Rs 555
(waived off for
employees of
MNCs†)
Annual
Maintenance
Charge (AMC): Nil
Brokerage:
25p (delivery). 5p
(intra-day).
Kotak Securities
Account
Opening Charge
(AOC): Rs 750 (Rs
250 credited in new
account) (waived off
for employees of
MNCs†)
Annual
Maintenance
Charge (AMC): Rs
360
Brokerage:
0.59% (delivery).
0.6% (intra-day).
Browsers:
IE 6.0+
Enquiry: 1-
800-209-9191, 1-
800-222-299
Motilal Oswal
Account
Opening Charge
(AOC): Nil.
Annual
Maintenance
Charge (AMC):
1st year free. Rs 100
2nd year on.
Brokerage:
0.3% (delivery). Buy
- Nil, Sell - 0.05%
(intra-day).
Networth Direct
Account
Opening Charge
(AOC): Rs 250.
Annual
Maintenance
Charge (AMC): Rs
400.
Brokerage:
0.5% (delivery).
0.05% (intra-day).
Browsers:
IE 6.0+
Enquiry: 1-
800-220-223
Reliance Money
Account
Opening Charge
(AOC): Rs 750
(waived off for
employees of
MNCs†)
Annual
Maintenance
Charge (AMC): Rs
200
Brokerage:
1p (delivery and
intra-day‡).
Religare
Account
Opening Charge
(AOC): Rs 500
Annual
Maintenance
Charge (AMC): Rs
250
Brokerage:
0.3% (delivery‡).
0.06% (intra-day)
0.06% (futures).
Browsers:
IE 5.5+
Enquiry: 1-
860-258-8888
SBI
Account
Opening Charge
(AOC): Rs 400
Annual
Maintenance
Charge (AMC): Rs
400
Brokerage:
0.5% (delivery).
0.15% (intra-day).
Browsers:
IE 6.0+ and FF 1.5+
Enquiry: 1-
800-223-345
Sharekhan
Account
Opening Charge
(AOC): Rs 750
Online, (Rs 500
Offline, plus Rs 160
franking charge)
Annual
Maintenance
Charge (AMC):
1st year free. Rs 300
2nd year onwards.
Brokerage:
Higher of 0.5% or
10 paise/share
(delivery). Higher of
0.1% or 5
paise/share (intra-
day).
SMC India
Account
Opening Charge
(AOC): Rs 499.
Annual
Maintenance
Charge (AMC): Nil
(till March 2010).
Brokerage:
0.3% (delivery).
0.03% (intra-day).
Ventura
Account
Opening Charge
(AOC): Rs 3500•
Annual
Maintenance
Charge (AMC):
1st year free;
2nd year on Rs 400
Brokerage:
0.2% (delivery).
0.03%(intra-day).
Way2Wealth
Account
Opening Charge
(AOC): Rs 350.
Annual
Maintenance
Charge (AMC): Rs
300.
Brokerage:
0.5% (delivery).
0.05% (intra-day).
Browsers:
IE 6.0+
Enquiry: 1-
800-425-3690
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
http://www.theequitymarkets.com/broker_comparison.htmBrokerage firms are the business entities that deal with stock trading. India, with an increasing capital
market and a growing number of investors, has a number of brokerage firms. In Indian retail brokerage
industry, the brokerage firms primarily work as agents for buying and selling of securities like shares, stocks
and other financial instruments and earn commission for each of the transactions. There are plenty of
brokerage firms in India. Let's have a look at the top 10 brokerage firms in India.
Before talking anything about top brokerage firmsin India, let's have a glance at the Indian retail
brokerage market, which is going through a wonderful phase with high growth rate. The total trading volume
of the Indian brokerage companies stood at US$ 1239.1 billion in the year 2004, which increased to US$
1492.1 billion in 2005. It is further expected to reach US$ 6535.7 billion by the year 2015.
List of Top 10 Brokerage Firms in India
Among all the Indian brokerage companies, the top 10 Brokerage Firms in India can be listed as below:
Name Kotak Securities Limited
Terminals 4320
Sub Brokers 910
No. of Employees 4008
No. of Branches 350
Name Karvy Stock Broking Limited
Terminals 1700
Sub Brokers 19000
No. of Employees 3910
No. of Branches 581
Name Indiabulls
Terminals 2876
Sub Brokers NA
No. of Employees 5873
No. of Branches 522
Name IL&FS Investmart Limited
Terminals 1644
Sub Brokers NA
No. of Employees 1900
No. of Branches 294
Name Motilal Oswal Securities
Terminals 7923
Sub Brokers 890
No. of Employees 2193
No. of Branches 63
Name Reliance Money
Terminals 2428
Sub Brokers 1494
No. of Employees 2037
No. of Branches 142
Name India Infoline
Terminals 173
Sub Brokers 173
No. of Employees NA
No. of Branches 605
Name Angel Broking Limited
Terminals 5715
Sub Brokers NA
No. of Employees 284
No. of Branches NA
Name Anand Rathi Securities Limited
Terminals 1527
Sub Brokers 320
No. of Employees 4566
No. of Branches 220
Name Geojit
Terminals 627
Sub Brokers 247
No. of Employees 343
No. of Branches 314
Alphabetical list of Companies
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Broking Insights
The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalisation period, the industry has found its way towards sustainable growth. With the purpose of gaining a deeper understanding about the role of the Indian stock broking industry in the country’s economy, we present in this section some of the industry insights gleaned from analysis of data received through primary research.
For the broking industry, we started with an initial database of over 1,800 broking firms that were contacted, from which 464 responses were received. The list was further short listed based on the number of terminals and the top 210 were selected for profiling. 394 responses, that provided more than 85% of the information sought have been included for this analysis presented here as insights. All the data for the study was collected through responses received directly from the broking firms. The insights have been arrived at through an analysis on various parameters, pertinent to the equity broking industry, such as region, terminal, market, branches, sub brokers, products and growth areas.
Some key characteristics of the sample 394 firms are:
On the basis of geographical concentration, the West region has the maximum representation of 52%. Around 24% firms are located in the North, 13% in the South and 10% in the East
3% firms started broking operations before 1950, 65% between 1950-1995 and 32% post1995
On the basis of terminals, 40% are located at Mumbai, 12% in Delhi, 8% in Ahmedabad, 7% in Kolkata, 4% in Chennai and 29% are from other cities
From this study, we find that almost 36% firms trade in cash and derivatives and 27% are into cash markets alone. Around 20% trade in cash, derivatives and commodities
In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the derivative segment, 48% trade at NSE, 7% at BSE and 45% at both, whereas in the debt market, 31% trade at NSE, 26% at BSE and 43% at both exchanges
Majority of branches are located in the North, i.e. around 40%. West has 31%, 24% are located in South and 5% in East
In terms of sub-brokers, around 55% are located in the South, 29% in West, 11% in North and 4% in East
Trading, IPOs and Mututal Funds are the top three products offered with 90% firms offering trading, 67% IPOs and 53% firms offering mutual fund transactions
In terms of various areas of growth, 84% firms have expressed interest in expanding their institutional clients, 66% firms intend to increase FII clients and 43% are interested in setting up JV in India and abroad
In terms of IT penetration, 62% firms have provided their website and around 94% firms have email facility
Terminals
Almost 52% of the terminals in the sample are based in the Western region of India, followed by 25% in the North, 13% in the South and 10% in the East. Mumbai has got the maximum representation from the West, Chennai from the South, New Delhi from the North and Kolkata from the East.
Mumbai also has got the maximum representation in having the highest number of terminals. 40% terminals are located in Mumbai while 12% are from Delhi, 8% from Ahmedabad, 7% from Kolkata, 4% from Chennai and 29% are from other cities in India.
Branches & Sub-Brokers
The maximum concentration of branches is in the North, with as many as 40% of all branches located there, followed by the Western region, with 31% branches. Around 24% branches are located in the South and East constitutes for 5% of the total branches of the total sample.
In case of sub-brokers, almost 55% of them are based in the South. West and North follow, with 30% and 11% sub-brokers respectively, whereas East has around 4% of total sub-brokers.
Financial Markets
The financial markets have been classified as cash market, derivatives market, debt market and commodities market. Cash market, also known as spot market, is the most sought after amongst investors. Majority of the sample broking firms are dealing in the cash market, followed by derivative and commodities. 27% firms are dealing only in the cash market, whereas 35% are into cash and derivatives. Almost 20% firms trade in cash, derivatives and commodities market. Firms that are into cash, derivatives and debt are 7%. On the other hand, firms into cash and
commodities are 3%, cash & debt market and commodities alone are 2%. 4% firms trade in all the markets.
In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the equity derivative market, 48% of the sampled broking houses are members of NSE and 7% trade at BSE, while 45% of the sample operate in both stock exchanges. Around 43% of the broking houses operating in the debt market, trade at both exchanges with 31% and 26% firms uniquely at NSE and BSE respectively.
Of the brokers operating in the commodities market, 57% firms operate at NCDEX and MCX. Around 20% and 21% firms are solely in NCDEX and MCX respectively, whereas 2% firms trade in NCDEX, MCX and NMCE.
Products
The survey also revealed that in the past couple of years, apart from trading, the firms have started offering various investment related value added services. The sustained growth of the economy in the past couple of years has resulted in broking firms offering many diversified services related to IPOs, mutual funds, company research etc. However, the core trading activity is still the predominant form of business, forming 90% of the firms in the sample. 67% firms are engaged in offering IPO related services. The broking industry seems to have capitalised on the growth of the mutual fund industry, which was pegged at 40% in 2006. More than 50% of the sample broking houses deal in mutual fund investment services. The average growth in assets under management in the last two years is almost 48%. Company research is another lucrative area where the broking firms offer their services; more than 33% of the firms are engaged in providing company research services. Additionally, a host of other value added services such as fundamental and technical analysis, investment banking, arbitrage etc are offered by the firms at different levels.
Of the total sample of broking houses providing trading services, 52% are based in the West, followed by 25% from North, 13% from South and 10% from the East. Around 50% of the firms offering IPO related services are based in the West as compared to 27% in North, 13% in South and 10% in East. In providing mutual funds services, the Western region was dominant amounting to 49% followed by 27% from North; The South and the East are almost at par with 13% and 11% respectively.
Future Plans
68% of the firms from the sample have envisaged strategies for future growth. With the middle class Indian investor as well as foreign investor willing to invest in the stock market, majority of the firms preferred expansion of institutional and the Foreign Institutional Investor clients in their areas of growth. Around 84% have shown interest in expanding their institutional client base. Nearly 51% of such firms are located in the West, 25% in North, 15% are from South and 9% from East. Since the past couple of years, India, along with Korea and Taiwan, has been one of the preferred destinations for the FIIs. With corporate restructuring, rising market capitalisation and sectoral friendly policies helping the FIIs, more than two thirds of the firms are interested in increasing their FII client base. Amongst these firms, West again has maximum representation of 53%, followed by North with 22%. South has 15% firms and East makes up for 9%.
Company NameTotal
Terminals
Sub Brokers
No.of Employee
s
Number of
Branches
City
Karvy Stock Broking Limited 477 15000 4500 550 Hyderabad
Angel Broking Limited 5081 2408 1800 66 Mumbai
Peerless Securities Limited 36 1000 73 18 Kolkata
Anagram Securities Limited 999 964 1183 139 Mumbai
SMC Global Securities Limited 3231 800 1000 800 New Delhi
UAE Exchange & Finance Limited 40 700 1890 210 Kochi
Motilal Oswal Securities Limited 4179 638 2000 60 Mumbai
ICICI Securities Limited 1051 587 1833 270 Mumbai
Bonanza Portfolio Limited 2177 536 1200 380 Delhi
Asit C. Mehta Investment Interrmediates Limited
713 320 350 18 Mumbai
Sykes & Ray Equities (India) Limited 18 300 50 250 Mumbai
ASE Capital Markets Limited 471 200 50 1 Ahmedabad
Kantilal Chhaganlal Securities Private Limited 412 200 150 20 Mumbai
Hem Securities Limited 114 180 70 180 Jaipur
BgSE Financials Limited 320 167 100 10 Bangalore
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