Lemonn provides a modern stock trading experience with no brokerage charges and no annual maintenance fees. Lemonn’s user-friendly software simplifies stock trading for beginners and expert traders alike, including crucial information, live market movements, extensive stock analysis, advanced tools and charts, smooth UPI payments, and a paperless account opening process.
Lemonn, which is registered with SEBI for safety, also provides play-to-learn features, expert analysis, and advice for making informed trading decisions, making it a go-to platform for hassle-free, secure, and informative stock trading. The founders of Lemonn is Ashish Singhal, Vimal Sagar Tiwari and Govind Soni. Lemonn is currently offering the following features:
- Zero brokerage fee for three months and zero fees for account opening
- Curated industry-based stock offering
- A detailed glossary explaining all financial and market-related terms
Lemonn does not have an advisory licence currently and hence will not offer stock suggestions. On the other hand, Lemonn app has 4.1/5 rating with fewer reviews of 107 along with more than 10k downloads.
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Founders of Lemonn
Lemonn, a stock investment platform established under PeepalCo, was founded by Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni. Prior to Lemonn, they established CoinSwitch, a prominent cryptocurrency exchange. Lemonn provides stock broking services through Nu Investors Technologies Pvt Ltd and is PeepalCo’s second separate company, after CoinSwitch. Their combined knowledge in cryptocurrency and traditional stock trading complements Lemonn’s creative approach to providing customers with accessible and efficient investment alternatives.
Features of Lemonn
- Zero Brokerage & Zero Annual Maintenance Fees:
Lemonn offers a refreshing trading experience with no brokerage charges or annual maintenance fees, making it cost-effective for investors. Zero-trading brokerage for 3 months.
- Free Demat & Trading Account
Lemonn offers free demat and trading accounts with zero fees for account opening making it easier to trade in equities.
- Stock Trading and Investment Simplified
Lemonn simplifies stock trading and investment by providing crucial information in an easy-to-understand format, allowing for intraday trading with live price movements of stocks such as the NSE Nifty 50 and BSE Sensex. Users have access to full stock analysis, which includes financials such as profit and loss, balance sheet, cash flow, and more. Advanced tools and charts are now available to help make informed investment and trading decisions.
- Fast and Secure UPI Payments and Net Banking:
Lemonn’s UPI payments are fast and safe, thanks to BHIM UPI, and users can easily set up their UPI PIN and monitor transactions right from the app.
- Advanced Trading Tools and Charts:
The app displays live share prices for over 3000 equities listed on the Nifty 50 and Sensex, as well as technical charts and indicators. Users can access research and analysis tools, stock market updates, company financials, and expert recommendations.
- 100% Paperless & Smooth Process:
Lemonn provides a hassle-free experience with 100% paperless online demat and trading account opening. The one-time KYC process is streamlined, allowing consumers to buy and sell shares with ease.
- Safe & Secure:
Lemonn is registered with SEBI, which ensures users’ safety and regulatory compliance. This lends a sense of trust and security to the trading process.
- Play-to-Learn:
Users can learn about stocks by discovering amusing facts and insights, which will help them trade more effectively.
- Effortless Withdrawals:
Lemonn makes withdrawals simple and fast, allowing users to handle their funds more efficiently.
- Expert Analysis and Tips:
The app offers high-quality stock research and advice to assist users make sound trading decisions.
Pros of Lemonn
- The elimination of brokerage fees and expenses for opening a demat account is a significant benefit, particularly for budget-conscious investors.
- Lemonn’s seamless integration of UPI payments and net banking simplifies and speeds up transactions.
- The app provides unique insights, individualized financial insights, live stock prices, and essential stock research tools, making it useful to investors.
- Users have praised the app’s ability to execute transactions quickly and efficiently, including UPI payments and net banking transfers.
- Lemonn’s categorization of companies into several market groups, as well as expert suggestions, are useful in making investment decisions.
Cons of Lemonn
- Some users have reported that after the initial free period, brokerage fees might become relatively high, raising questions regarding long-term cost-effectiveness.
- A few users have noted issues with the user interface, glitches, and the absence of specific features such as candlestick charts, all of which can have a detrimental impact on the overall user experience.
- Users have complained about delays in processing withdrawals, which is generating irritation.
- Some users have voiced displeasure with referral benefits that are not credited swiftly or as promised.
- A few users have complained about a lack of thorough information regarding brokerage rates, fees, and other critical elements on the app or website.
- Chat support is not available for this platform
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Customer Care
Mail- support@lemonn.co.in
Telephone- +91 8035769929
Address- 601, Heritage Plaza, 6th Floor, JP Road Opp. Indian Oil Colony, Andheri (West), Mumbai-400058, Maharashtra, India.
Conclusion
In conclusion, Lemonn provides a refreshing stock trading experience with no brokerage costs and an easy-to-use interface. Its creators, Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni, have extensive expertise with their cryptocurrency startup, CoinSwitch. Lemonn’s key features include no annual maintenance fees, extensive trading tools, quick UPI payments, and professional analysis. However, consumers have reported possible downsides such as hefty brokerage fees after the initial term, user interface difficulties, withdrawal delays, and concerns regarding referral incentives. So you should take any decision carefully.
Though upstox and Angelone too offers Free Account opening and ZERO Annual maintenance charges. So you can consider Upstox or Angelone for account opening.
