Table of Contents
Choice Broking Margin Exposure
Choice Broking Trading Platforms
Looking for a comprehensive Choice Broking review? Choice Equity Broking Pvt. Ltd, established in 2010, is a Mumbai-based full-service stockbroking firm and a subsidiary of ‘Choice International Limited.’ It offers online trading and a wide range of financial services, including Derivatives, Equity, Currency, Mutual Funds, Commodities, wealth management, Insurance, Portfolio management, and Loan against share. With depository memberships with CDSL and NSDL and memberships of major exchanges, it provides brokerage services with competitive rates.
Additionally, it offers NRI trading, Margin Trading services, and investment services. The company recently launched mobile and web-based trading apps for stock markets and mutual fund investments. It also has a Refer and Earn program for clients to earn a lifetime income through referrals. Read and know all about Choice Broking review, including the pros, cons and charges of the broker.
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Choice Broking Review: Choice Broking Charges
Choice Broking provides a lucrative opportunity for investors by offering a cost-effective and user-friendly solution to open an online Trading and Demat account, absolutely free of charge for the initial year. There are no account opening fees, making it an attractive proposition for those looking to begin their investment journey.
Also, for the Demat account, an Annual Plan is available at just Rs 200 per year, ensuring hassle-free management of securities. Investors also have the option to opt for a Lifetime AMC Plan, requiring a one-time non-refundable fee of Rs 1500, or the Refundable AMC Plan with a one-time refundable deposit of Rs 3000.
The latter plan guarantees the return of the deposit upon closure of the Demat account. This transparent fee structure makes Choice Broking an excellent choice for investors seeking an affordable and reliable platform for their trading and investment needs.
Take a break from our Choice Broking review to read and know – Stocks, IPO or Mutual Funds: Which is the Better Investment Option for You?
Choice Broking Review: Choice Broking Brokerage Charges
Choice Broking offers a transparent and straightforward brokerage structure tailored to suit various trading segments.
For Equity Delivery, Intra-day, and Futures, the brokerage charges are calculated as a percentage of the trade value, with rates set at 0.20%, 0.02%, and 0.02%, respectively.
As for Equity Options, clients are charged a flat fee of Rs 25 per lot. Similarly, in the Currency Futures segment, the brokerage stands at 0.02%, while for Currency Options, the flat fee is Rs 20 per lot.
Lastly, in the Commodity Futures and Options categories, the brokerage remains consistent at 0.02% and Rs 50 per lot, respectively.
With this comprehensive and competitive fee structure, Choice Broking ensures its clients can make informed choices and optimize their trading experience.
Choice Broking Review: Choice Broking Pros
Choice Broking is a distinguished brokerage firm that excels in providing a multitude of advantages to its clients.
- With a diverse range of investment products, customers can explore various avenues to build their portfolios. The simplicity of their Trading Platforms makes trading a hassle-free experience.
- Moreover, their flexibility is evident in the multiple AMC plan options available, including refundable AMC and lifetime AMC choices.
- It has a proactive and prompt Customer Service – ensuring clients receive support whenever they need it. Additionally, the convenience of instant and paperless online Demat Account Opening simplifies the onboarding process.
- The provision of Margin Trading Facility (MTF) Services empowers traders to leverage their positions for potential gains.
- Choice Broking’s research calls boast an impressive 78% success ratio, as stated on their website.
- Furthermore, clients benefit from a Zero Account opening fee, and the platform facilitates online IPO application services.
- The inclusion of Free Call and Trade Facility fosters seamless communication for users.
- Choice Broking also goes the extra mile with a Dedicated Relationship Manager, providing personalized assistance to cater to individual needs. The brokerage firm stands out by offering advanced order types, such as Cover order (CO), Bracket Order (BO), and Good Till Cancelled (GTC), catering to the diverse trading requirements of its clientele.
Choice Broking Review: Choice Broking Cons
Choice Broking also has several drawbacks when it comes to their services.
- Firstly, it does not provide 3-in-1 account services, which can be inconvenient for customers who prefer an integrated approach for their trading, banking, and demat accounts.
- The absence of Flexi brokerage plans might limit the flexibility and cost-effectiveness of their brokerage options.
- Its lack of a margin calculator can be a significant drawback for traders who rely on such tools to make informed investment decisions.
- The unavailability of an in-house trading terminal may hinder the seamless and efficient execution of trades.
Choice Broking Review: Choice Broking Margin Exposure
Choice Broking offers margin exposure for different trading segments.
- For intraday trading in equity, traders can get up to 20% of the trade value, allowing for a maximum leverage of 5 times.
- For intraday trading in F&O (Equity, Currency, and Commodities) at BSE, NSE, and MCX, the margin is set at 1.3 times the required margin for normal (NRML) positions. This means that for F&O intraday trades, you can trade with 1.3 times the margin required.
- However, for equity delivery trades and F&O carry forward positions, no additional margin is provided, and the margin required is 100% of the trade value, with a leverage of 1x.
- It is essential to be aware of the specific margin policies for each trading segment to make well-informed investment decisions.
Once you finish reading on Choice Broking review, read and know about Best Bonus Shares: Top Companies in H1 of 2023 in India.
Choice Broking Review: Choice Broking Trading Platforms
Choice Broking offers two proprietary trading and investment platforms to its clients: Jiffy and Investica.
Jiffy
Jiffy is an intuitive online trading app designed to simplify and expedite trading in Equity, Derivatives, Currency, and Commodity markets, as well as facilitating IPO applications. Available on Android, iOS, and web, Jiffy boasts price alerts, insightful research reports, real-time market data, a user-friendly interface, and secure trading.
Investica
On the other hand, Investica serves as an online platform for mutual fund investments and monitoring. With a swift and paperless account setup, Investica supports iOS, Android, tablet, and web, providing features like comparisons, fund tracking, and goal-based baskets, ensuring hassle-free and seamless mutual fund investments.
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Conclusion
Overall, as you can find out from our Choice Broking review, Choice Broking’s array of features and commitment to customer satisfaction make it an excellent choice for investors and traders alike. It emerges as a commendable financial partner, garnering trust through its robust platform and diverse investment options. With customer-centric services, expert guidance, and competitive pricing, the broker caters to the needs of both seasoned traders and beginners. It can be a reliable choice if you are seeking a seamless trading experience.
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