The Lemonn trading app is quickly gaining popularity among traders and investors due to its flawless platform and cost-effective solutions. Lemonn provides a unique combination of accessibility and financial efficiency, with no brokerage fees even the transactions are high. In the following article, I will discuss all the possible brokerage charges related to the Lemonn trading app.
Lemonn Trading App
Lemonn is a trading app that aims to provide a simple and cost-effective trading experience. It offers a diverse range of investment opportunities, including stocks, mutual funds, futures and options, and commodities. The app is well-known for its easy-to-use layout, and extensive market data.
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Features
Before we dive into the charges, let’s look at some of the features that make Lemonn stand out:
- Comprehensive Market Data: This app gives charts & indicators, regularity of gains/losses, market leaders and trailing, trends and more; IPOs & mutual funds.
- Diverse Investment Options: Some of the products that the user can trade include stocks, F&O, IPOs, mutual funds, and many more within the same platform.
- User-Friendly Interface: The trading process is absolutely free of stress due to unification of all the features grouped in the navigation panel.
- Free Account Opening and Maintenance: Demate account with Lemonn is easy to open and free of charge implying that it is very cheap to join Lemonn.
Investment Options
Lemonn offers a wide array of investment opportunities:
Stocks: There are more than 2200 stocks listed for trading, meaning that you are free to invest in varied share for 1 year.
Mutual Funds: There are no commissions and other charges on fulfilling the investment on the mutual funds. The platform provides an efficient means for the professional management of your investment in order to reap good returns in the long run.
IPOs: The IPO feature it seems is still to be rolled out, which will enable users to stake in an Initial Public Offering simply by using the application. (zero brokerage for 1 year)
Currency commodity: Lemonn app seems lacking information regarding currency commodities in their official website. (please let us know in comment section if we missed any information about currency commodities)
Direct Charges
Charge Type | Cost |
Account Opening | Rs. 0 |
Account Maintenance (AMC) | Rs. 0 |
Brokerage Charges
Segment | Brokerage (free only for 1 year) |
Equity Delivery | free |
Intraday Trading | free |
Futures & Options | free |
Currency Futures & Options | free |
Commodity Futures & Options | free |
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Other Charges
Charge Type | Cost |
Transaction Sell Charges | ₹13 (CDSL Fee) |
Re-materialization Charges | ₹1 + ₹99 per certificate |
Pledge Creation Charges | ₹25 per transaction |
Demat Transaction Charges | 0.001% of turnover (₹10 per crore) |
Advanced Order Types:
While the application supports basic order types, it lacks Advanced options such as cover orders, bracket orders, and GTT orders, which may be a disadvantage for professional traders.
Customer Care
Mail– support@lemonn.co.in
Telephone- +91 8035769929
Terms and Conditions
Here are the main points related to the terms and conditions associated with Lemonn’s free brokerage offer:
Zero-trading brokerage will be applicable for a period of one year to all users. Any changes in these charges will be mentioned 7 days prior in official website.
(I have tried to find information about charges applicable after free brokerage season ends but unfortunately couldn’t find anywhere in the website. However, the number is given in the article so please contact with sales executive before opening demat account)
Obligation to Pay: You have to bear brokerage fees, GST charges and any other related transaction charges. These charges may vary and you will receive communication via email, sms or whatsapp 7 calendar days in advance.
Charge Display: All charges regarding the services or any transaction are stated at the time during the transaction on Lemonn Platform.
Regulatory Limits: Brokerage as well as charges which are charged can neither exceed the limits set by SEBI or any other regulatory authority not in any manner .
Schedule of Charges: Current charges tariff sheet of all charges, brokerage and fees plus taxes are available website.
Delayed Payment Charges: This includes amounts charged for interest, brokerage’s, taxes as well as penalties for delayed payments..
Refusal of Transactions: Lemonn has the discretion of declining any transaction or closing any position where payment terms are not fulfilled. Any expenses or losses which may be involved will be for your account.
Disclaimers: Lemonn also excludes all the warranties of accuracy, timeliness and fitness for purpose in Connection with the Information and Services.
- Where is the head office of lemonn app ?
Head office of lemonn app is located in Mumbai, Maharashtra
- Who is the founder of lemonn app ?
Lemonn is the latest product by PeepalCo, the house of fintech products founded by Ashish Singhal, Vimal Sagar Tiwari and Govind Soni.
Conclusion
The Lemonn trading app provides a cost-effective option for traders and investors, with no brokerage charges on stock delivery, intraday trading, futures, options, and commodities for the first year. However, it lacks complex order types, which could be a disadvantage for experienced traders.
Overall, Lemonn is an excellent alternative for people looking for a straightforward, low-cost trading experience. However, you should be mindful of potential charges after first year time.
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