Welcome to the Lemonn app, your one-stop shop for stress-free trading and investment! With no account opening or maintenance charges, you can purchase shares in stocks, mutual funds and later on IPOs with little financial burden. Get zero brokerage on equity delivery, intraday trading, futures & options.
This SEBI-registered platform ensures your investments are safe with 4.3 app rating. Dive into a seamless trading experience with Lemonn and make your money work smarter!
First of all, let’s take the issue of investments. What types of investments can you make through this app? You can invest in securities like stocks, futures contracts and options. The app provides access to over 2200 stocks.
There is no extra charge for mutual funds. This application allows you to manage your own portfolio professionally through an additional advantage of adding more funds and investing for long term in mutual funds.
Open an account with Angel One– Click here
Direct Charges
|
Charge Type |
Details |
|
Demat Account Opening |
Free |
|
AMC (Annual Maintenance Charge) |
Free |
Brokerage Charges
|
Trading Segment |
Brokerage Charges |
|
Equity Delivery |
Free |
|
Equity Intraday |
Free |
|
Futures and Options |
Free |
|
Currency Futures and Options |
Free |
|
Commodity Futures and Options |
Free |
Open an account with Upstox– Click here
Other Charges
|
Type of Charge |
Details |
|
Transaction Charges (Sell) |
₹10 per transaction (CDSL fee) |
|
Remat Charges |
₹1 + ₹99 |
|
Demat Charges |
₹1 + ₹99 |
|
Pledge Creation |
₹25 |
|
Turnover Charges |
0.001% per ₹10 crore |
Impact on Brokerage Charges due to SEBI New Rule
In the past, stock exchanges used to provide brokers with volume discounts. This encouraged brokers to go for no brokerage Demat accounts and thus more traders were attracted and trading volumes increased. Nevertheless, SEBI has currently insisted that exchanges can no longer give discounts on the basis of trade volumes. This will significantly hit the bottom line for brokers.
Therefore, to protect their profit margins, brokers will have to change their pricing strategies. An end is in sight for Zero Brokerage Accounts! Many brokerage firms have already started aligning themselves with this trend.
For instance, Kotak Securities’ Trade Free Youth Plan that once had zero brokerage is now charging 0.1 paisa per order. To sum up SEBI’s new regulation implies that zero-brokerage accounts are going out of style compelling brokerages firms to introduce minimum fees just enough to make them continue running.
Conclusion
The Lemonn app does not charge customers for the first year, regardless of whether they are doing intraday, delivery futures and options, currency or commodity trades. Furthermore, there are no fees for creating and keeping an account open. Still, it remains undisclosed what will be charged after one year on brokerage.
If you desire a demat account with zero brokerage charges for one year, then the Lemonn app is your best bet; however, beware of possible unforeseen costs in the coming years.
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