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Choice Broking Review | Brokerage Charges, Account Opening
Choice Broking Track Record Of Best Online Stock Broker In India
Choice Broking Review | Brokerage Charges, Account Opening
Choice Equity Broking Private Limited is a Mumbai-based full-service stock broking firm and was incorporated in 2010. This is a subsidiary of a publicly listed financial service provider organisation named as Choice International Limited. It was formerly providing tis financial services since 1993.
Choice Broking offers its online trading and the premium financial service for the complete range of financial products such as Equity, Derivatives, Currency, Commodities, Mutual Funds, wealth management, Insurance and the Loan against share. It is a depository membership with the CDSL and NSDL. Choice Broking is a member of NSE, BSE, MCX, NCDEX, and ICEX. The Choice Broking avails their customers with several margin trading services to its customers. It allows the customers to allow the clients to purchase the shares by funding the smaller portion with its funds and use the broker funds for the remaining amount.
Choice Broking provides NRI Trading and investment services to the customers. The company has more than 50 offices, more than 500 employees, more than 1100 franchises that are spread across the country. The stock broker focus on providing the best mobile and web-based trading application to make investments in stock markets and mutual fund investments.
Choice Broker also avails its customers to provide the refer and earn program for the clients that further gives the customer an opportunity to gain a lifetime income by way of sharing the certain percentage of the Choice Broking brokerage received from the referrals.
Choice Broking Account Opening
The stock broker provides online as well as offline modes of account opening to its customers. The Choice Broking demat account can be opened easily by visiting the home page of company and then selecting the “Open free account” option. An individual needs to submit all the necessary details and documents. The trading account can either be opened through Jiffy by using the application or website.
Choice Broking Trading Software
Choice Broking stock broker provides two proprietary trading and investment platforms named as Jiffy and Investica. It makes the transaction smooth in the stock markets and mutual funds investment respectively. Let’s go in brief of these trading applications:
1. Jiffy (Trading App)- It is an online trading application that focuses on making the trading process easy, quick and simple. This software is offered to the Choice Broking customers for free of cost to allow trading in Equity, Derivatives, Currency and Commodity. The customers can apply in IPO through Jiffy. This trading platform is available on the Android, iOS, and web. It is built by using the unique technology and has the unique features such as real-time market data, insightful research reports, clean and simple user interface, price alerts and more.
2. Investica (Mutual Funds App)- It is an online mutual fund platform for making investments and tracking. It allows the other customers to open their account within just 5 minutes with a 100% paperless sign-up procedure. The application is made available on tablet, web and the smartphone that supports Android and iOS. It allows to make the mutual fund investment procedure quick, easy and hassle-free.
Advantages of Choice Broking
1. It offers a broad range of investment products.
2. It has a simple trading platform and offers it to the customers.
3. It offers various multiple AMC plans to its customers that provides lifetime AMC and refundable AMC options.
4. It has a proactive and prompt customer service.
5. It has an instant and paperless demat account opening process.
6. Choice broking has an excellent margin trading facility service to its customers.
7. The research call provided by the brokers has 78% accuracy ratio.
Disadvantages of Choice Broking
1. The Choice Broker does not allow to open a three-in-one account services to its customers.
2. It has no flexible brokerage plans.
3. The broker does not provide Margin Calculator.
4. It does not provide an in-house trading terminal.
Frequently Asked Question
No, an individual cannot buy mutual funds by using the Choice Broking mobile application. The company offers a separate trading platform Investica for mutual funds investments. Investica can be easily accessed from the mobile phones or computers through the web browser or mobile app supported on Android and iOS devices.
The Choice Broking charge 0.02% for currency futures trading and Rs.20 per lot for currency in options trading.
The Choice Broking Jiffy application supports the Android and iOS platforms. This mobile application can be further accessed on an Android Smartphone or iPhone but it is not compatible with laptops.
Choice Broking Charge 0.02% for equity, currency and commodity.
NFO (New Fund Offer) is a subscription offer for a new fund launched by the asset management company or mutual fund house to raise the capital. Choice Broking offers its investors the facility to apply for the NFO services through Investica.
Choice Broking auto square- off all the open intraday positions at 3:15 PM.
Yes, Choice Broking stock broker provides its customer to offer the trade and depository services. The company focus and provide the research-based tips and recommendations.
Choice Broking Jiffy is a very secured and trusted application that has a secure retrieval and data storage by using the modern encryption technique (256- bit SSL encryption).
Choice Broking charges 0.20% for equity delivery trade. These trades are known as cash & carry trades.
Choice Broking avails its customers with Investica as a trading platform.
Yes, Choice Broking trading software are safe and secure to use.
Yes, Choice Broking provides the margin funding facility to its customers.
Yes, Choice Broking offers online IPO applications to its customers. IPO offers an early opportunity to buy the shares of the companies that are not previously traded publicly.
Some Key features of Jiffy app are: • Quick Order placement. • Live Market Depth. • Best Stock Screener • Easy Navigation. • Insightful Research Reports. • Live Market Data. • Customised Charts and Watchlists.
Choice Broking will charge ₹0 annual maintenance charge for trading account and ₹200 for demat account.
Yes, the customer can buy or sell mutual funds if they already hold an account with choice Broking.
Yes, Choice Broking allows its customers to enjoy the facility of margin trading to its customers. The investors can further enhance their buying or selling their power through the MTF Services that is provided by the broker. It is done to utilize the broker funds to a consider the extent to execute the transaction.
Yes, Choice Broking stock broker allows to place the BTST order to its customers. This order enables the customer to sell the stocks before an individual gets its delivery in the demat account.