A Manual on What Angel Broking Offers, How much they Charge and Why You Should Trade with Angel Broking

One of the leading broking service providers, Angel Broking is the largest full-service retail broker of India. Covering over 1 million customer base, the full-service stockbroker recently changed its business model in November 2019 to offer a flat brokerage charge on all services and equity delivery as free of cost which is indeed an impressive move. Earlier they used to charge some percentage of the transaction amount on each trading. With over two decades of broking experience, Angel Broking has successfully managed to have a pan-India presence in over 1800 cities and towns. With modern and functional trading platforms, angel broking serves their best when it comes to investment and trading advisory services. It is also known for its transparent working policies and ethical practices. The firm has trading strategies that are considered best among all other retail brokers of the country. Their studies of economic and corporate parameters are so well-researched that the firm is considered as a synonym to the best service practices in the stock-broking industry serving investors interest to the fullest.  

The review article will highlight the history of the broking firm, brokerage and other charges they charge, what are their key features, what range of products and services they offer and what are the advantages and disadvantages of investing and trading with this firm.  

The History of Angel Broking

Angel Broking was incorporated in 1987 by Mr Dinesh Thakkar with a capital of Rs. five lakhs, half of which he lost in just eight months. Mr Dinesh comes from a textile business family in Mumbai with a very high reputation. Since he came from a family business background, he already had a flair of business ownership cum entrepreneurship running in his blood. He had his basic studies in Mumbai itself. He had a deep interest in technological innovations which is why he was able to bring innovations in his business – angel broking that boasts some of the best technological and digital advancements. Mr Dinesh took an opportunity when other stockbrokers of that time were not too much concerned about the customer services. And amongst all other brokers, Mr Dinesh’s stock recommendations were quite accurate and which is why he was able to grow more quickly as the best stockbroker. He considered his clients’ interests as a priority and focused on providing personalized services based on their specific needs. He believes trading as a zero-sum game and that is the reason he studied market volatility by reading books on fundamental and technical analysis. Today, the firm is very well-known for its straightforward advice and stock recommendations.

The company enjoys his memberships across BSE, NSE, NCDEX and MCX and registered with CDSL as a Depository Participant. The vast range of the services offered by Angel Broking includes stock and commodity broking, wealth management services, investment advisory and recommendation services, loans against shares, margin funding and financial products distribution. 

To stay competitive in the market, Angel Broking started providing discount broking services under which the delivery trading is free of cost and other trading segments such as Futures, Options, Commodities, Currencies and Intraday trading services are charged at a flat rate of Rs. 20 per trade. It is applicable for trading through all exchanges. They also provide investment advisory services that suggest which stocks to trade, where to invest and why you should invest or trade in a particular stock and this is the main reason why it has such a huge client base serving in more than 8500 cities and towns. The trading software launched by this firm are also quite comfortable to use for any investor as it is user friendly which is why it is famous. 

List of Charges: Brokerage and Transaction Charges, Account Opening Charges and Other Related Charges

Brokerage and Other Transaction Charges Segment Wise

SegmentNature Of Charges And TaxesRate
1) NSE Cash1) Transaction Charges0.00325% Of Turnover Value
2) Stamp Duty0.01% Of Delivery Turnover Value.0.002% Of Trading Turnover Value.
3) GST18% On Brokerage, Turnover Tax & SEBI Fees (W.E.F. 01/07/2017)
4) Securities Transaction Tax (STT)0.1% Of Delivery Turnover Value. (W.E.F. 01/07/2012)0.025% Of Selling Turnover Value.0.001% On Selling Value Only On ETF Scrip. (W.E.F. 01/06/2013)
5) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
2) BSE Cash1) Transaction ChargesScrip GroupRevised Transaction Charges W.E.F 01/08/2018A & B 0.003% On Turnover Value E,F,FC,G,GC,I,W & T If The Scrip Is Exclusive – 0.00275% On Turnover ValueIf The Scrip Is Non-Exclusive – Rs. 0.75 Per TradeM & MT 0.00275% On Turnover Value P, R & ZP,SS,ST 1% On Turnover Value X,XT & Z 0.1% On Turnover Value
2) Stamp Duty (Broker Note Stamp Charges)0.01% On Delivery Turnover Value.0.002% On Trading Turnover Value.
3) GST18% On Brokerage, Turnover Tax, SEBI Fees & Clearing Charges (W.E.F. 01/07/2017)
4) Securities Transaction Tax (STT)0.1% On Delivery Turnover Value. (W.E.F. 01/07/2012)0.025% On Selling Turnover Value.0.001% On Selling Value Only On ETF Scrip. (W.E.F. 01/06/2013)
5) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
6) Clearing ChargesRe. 0.02 Per Trade
3) NSEFO1) Transaction Charges.0.0019% On Total Futures Turnover Value0.05% On Premium Value In Case Of Option Segment. (W.E.F. 01/10/09)
2) Stamp Duty0.002% Of Trading Turnover Value.Note A) In Case Of Options Trade – Stamp Duty Are Levied On Premium (Buy/Sell)B) In Case Of Expiry Trade – Stamp Duty On Strike Price + Premium Value.
3) GST18% On Brokerage, Turnover Tax & SEBI Fees (W.E.F. 01/07/2017)
4) Securities Transaction Tax (STT)Future: 0.01% Of Sell-Side Turnover Value. (W.E.F. 01/06/2013).Option: 0.05% Of Sell-Side Premium Value.STT On Exercised Trade- @0.125% Of Settlement Value (Qty* Cash Mkt Closing Rate). (W.E.F. 01/06/2008).
5) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
4) NSE CDS1) GST18% On Brokerage, Turnover Tax & SEBI Fees (W.E.F. 01/07/2017)
2) Stamp Duty0.002% Of On Turnover Value
3) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)0.00005% Of On Turnover Value For IRF (W.E.F. 03/04/2017)
4) Turnover Tax0.0009% Of Total Futures Turnover Value. ( W.E.F. 09/08/2017)And 0.04% On Option ( W.E.F. 22/08/2011)0.00015% Of Total IRF Turnover Value (W.E.F. 01/04/2017
5) MCX-SX1) GST18% On Brokerage, Turnover Tax & SEBI Fees (W.E.F. 01/07/2017)
2) Stamp Duty0.002% Of On Turnover Value
3) ) SEBI Tax0.00015% On Turnover Value (W.E.F. 03/04/2017)
4) Turnover Tax0.00105% On Future Turnover Value (W.E.F. (01/04/16)0.01% On Option Premium Value (W.E.F. (15/02/2016)
6) BSE CURR1) Transaction Charges.0.00022% Of Total Futures Turnover Value0.001% Of Option Premium Value (W.E.F. 01/07/17)
2) Stamp Duty0.002% Of Trading Turnover Value.Note A) In Case Of Options Trade – Stamp Duty Are Levied On Premium (Buy/Sell)B) In Case Of Expiry Trade – Stamp Duty On Strike Price + Premium Value.
3) GST18% On Brokerage, Turnover Tax & SEBI Fees (W.E.F. 01/07/2017)
4) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
7) NCDEX1) Turnover Tax0.006% On Turnover For A Category (W.E.F. 01/08/2018)0.002% On Turnover For B Category0.0001% On Turnover For C Category
2) Commodity Trans.Tax (CTT)0.01% Of On Sell Turnover Value. (W.E.F – 01/07/2013)
3) Risk ManagementFee0.004% Of On Fresh Overnight Open Interest Position (W.E.F – 01/04/2015)
4) SEBI Tax0.00015% Of On Turnover Value (W.E.F -03/04/2017)
5) Stamp Duty0.001% On Turnover Value For Maharashtra State ( It May Vary From State To State)
6) GST18% On Brokerage, Turnover Tax, RMF Charges & SEBI Fees (W.E.F – 01/07/2017)
8) MCX1) Turnover Tax0.00210% On Turnover For A Category0.00175% On Turnover For B Category (W.E.F -01/10/2016)
2) Commodity Trans.Tax (CTT)0.01% Of On Sell Turnover Value. (W.E.F – 01/07/2013)
3) SEBI Tax0.00015% Of On Turnover Value (W.E.F -03/04/2017)
4) Stamp Duty0.001% On Turnover Value For Maharashtra State ( It May Vary From State To State)
5) GST18 % On Brokerage, Turnover Tax, & SEBI Fees (W.E.F – 01/07/2017)

Charges for Liquid Transactions

SegmentNature Of Charges, TaxRate
A) NSE Cash1) Transaction Charges.NILL
2) Stamp Duty0.01% Of Delivery Turnover Value.0.002% Of Trading Turnover Value.
3) GST18% Of SEBI Fees
4) Securities Transaction TaxNILL
5) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
B) BSE Cash1) Transaction Charges.0.00275 Total Turnover Value
2) Stamp Duty (Broker NoteStamp Chgs)0.01% Of Delivery Turnover Value.0.002% Of Trading Turnover Value.
3) GST18% Of Turnover Tax & SEBI Fees
4) Securities Transaction TaxNILL
5) SEBI Tax0.00015% Of On Turnover Value (W.E.F. 03/04/2017)
6) BrokerageNILL

Other Charges

Nature Of ChargesRate
AMC (Annual Maintenance Charges )Rs 450 + Tax / Year
Call & TradeAdditional Charges Of Rs 20/ Order
Franking, KRA, CKYC, ESignature ChargesFree
Email Statements / Contract NotesFree
Transaction Charges For Sell (Debit ) &Inter-Settlement (Debit) Per TransactionRs 20/-
Pledge Creation/ Closure / InvocationRs 25/-
Demat / Remat (Per Certificate )Physical Statements/ DIS Request/ PhysicalContract NotesRs 50/-
Cheque Bounce ChargesRs 350/-
Delay Payment Charges On Outstanding BillAmount If Not Paid Within Due Date1.5 % Per Month (Levied Every 15 Days)

Strengths of Angel Broking – Special Features

  • Implementation of advanced technology and digital platforms make the firm leading independent largest full-service retail broking house.
  • They have significant market share in the cash and the commodity sectors
  • Their huge sub-broker network and the presence in many cities have enabled them to provide quality services leading to client satisfaction.
  • They also share videos and podcasts to educate their customers and investors in terms of making the best investment and trading decision.
  • The personalized services to the clients based on their requirements make them stand out in the market.
  • The involvement of technological advancements into their trading platforms makes trading and investing activities very comfortable. 
  • The AI-based ARQ platform is considered a world-class Robo-assisted service.

Products, Services and Features

The Angel Broking provides a wide range of products and services details of which are provided as follows:

Products: The mainstays of all the products offered by Angel Broking are Equity Trading, Derivatives, Commodity, Currency, Mutual Funds and Insurance. The products not only enable customers to trade and invest but also provide news alert, advisory and a huge range of insurance plans. Investors are enabled commodity derivatives interface as well as various insurance products with term plans, endowment plans, money-back plans and so on. 

Services: The services provided by the Angel Broking include Demat Account, Trading Account, Intraday Trading, Advisory Services, Efficient Customer Support, Depository Service, Portfolio Health Score, ARQ – AI-Powered Robo Advisory, NRI Services and Loan against Shares. They also provide High Net Worth Individuals with best Portfolio Management Services. The technical assistance and detailed analytics services are also the foundation of the stock-broking firm. 

Research, Advisory and Stock Tips: The Full-Service broker presents regularly various research reports, advisory and recommendations and stock tips from experts to the clients so that they do not need to go out for such tips and services. The all-in-one stockbroker is equipped with advanced technologies that help investors make well-researched decisions. 

ARQ: The highly efficient Artificial Intelligence-based Robo Advisory platform provides stock and mutual fund suggestions to investors based on the future predictions of various stocks and not from the past records. The service does not involve any special fee or a charge from the investor and it provides personalized fund management suggestions and tips. It is an integrated trading software that has an inclusion of the latest technologies. 

Angel Broking App: The app serves as a multi-purpose platform where investors can trade online, receive news alerts and tips with real-time updates, reports and ledgers without any difficulty. Suitable for both regular investors and frequent traders, the app also includes easy and quick online fund transfer, charts and quotes, multi-asset trading, margin statements, limits, orders and much more. 

Angel Eye: This web-based training platform provides users with services to manage the portfolio, online trading and latest updates of the stock market.

Angel Speedpro: The desktop-based trading terminal enables investors with 30-day intraday and 20 years of historical data for the high-level analysis for better investment decisions.

Angle Swift: This is a mobile web-based trading platform that allows trading from your smartphones and tablets.

Angel Lite: This mobile browser-based trading platform is exclusively prepared for the users having slow GPRS connections and it does not require any download or installation procedure.

Pros and Cons

The unique selling price for Angel Broking can be their investment advisory service, stock tips, regular research reports and ledgers from the panel of highly talented experts in the field. Let us discuss what are other benefits and drawbacks the firm is having.

Pros:

  • Angel Broking is the largest full-service broker with flat brokerage charges while delivery trades are provided for free.
  • It is a one-stop solution for a wide range of trading and investment-related products and services.   
  • They use advanced technologies for investors to trade and invest on the go with the ease of access to many real-time updates and alerts.
  • AI-based Robo Advisory app – ARQ provides invaluable services.
  • The firm enjoys the pan-India presence in many cities with a great connection with sub-brokers.
  • They also provide the best research reports and stock tips to their customers which any other discount broker would barely provide at free of cost.

Cons: 

  • The firm does not provide the brokerage calculator to get an estimate of how much it may cost. 
  • They do not offer Trading, Demat and Bank accounts – a 3-in-1 account which is why many investors are reluctant to trade with them.
  • Their AMC charges are a bit higher than the other competitors.
  • Trades that need brokers assistance are charged extra Rs. 20 per executed order.