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Geojit Review | Brokerage Charges, Account Opening

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Geojit Financial Services Limited Review | Brokerage Charges, Account Opening

Investment is the key of prosperous life but investing is not easy as it depends on experience and perception. Investing in the stock market can be right or wrong, it doesn’t matter but the only thing matters how much you earned when you were right and how much you lost when you were wrong. A broker is a mediator between the exchanges and investors and it plays a key role in the investing part of any trader so it is quite important to choose a diverse and technical-driven platform. Geojit Financial Services Limited is one of the oldest stockbrokers of India, incorporated on 1987 as financial services firm and further known as full-service broker of India. Geojit Financial Services Limited provides the facility to invest in NSE, BSE, MCX and NCDEX. Geojit is the depositary member of CDSL and NSDL and it provides the flexibility to choose between both the exchanges. Geojit provides online facility to open demat and trading account from any corner of the world. Any person can also visit nearby branch to open an offline account. Geojit Financial Services Limited offers many types of financial services to invest in such as equity, derivative, mutual funds, currency, commodity, IPO, insurance and portfolio management services.
Customer-centric philosophy of the company proves as a game changer for the company. Geojit Financial Services Limited has its presence in more than 500+ Indian places and overseas such as Dubai, Bahrain, Muscat, Abu Dhabi, Kuwait, Al Ain and Sharjah. According to the SEBI guidelines, Geojit Financial Services Limited offers a leverage facility in almost all the segments except in equity delivery segment. Geojit has a client base of 8.4 lakhs customers and about 30,000 Cr. assets are under management.

Geojit Financial Services Limited Account Opening Charges:

Geojit Financial Services Limited offers online and offline method to open an account and charges are as follows:

Account

Charges

Trading Account Opening Charges

Rs 425

Trading Account AMC

Nil

Demat Account Opening Charges

Nil

Demat AMC

Rs 700 annually


Geojit Financial Services Limited Brokerage:

While trading in the stock market on Geojit Financial Services Limited, you need to pay brokerage which is different for all the segment.

Cash Market:

Delivery-based trading – 0.3%
Intraday trading – 0.03%

Futures & Options:

Futures – 0.03%
Options Index – Rs 50 per lot
Options Stock – Rs 75 per lot

Geojit Financial Services Limited Other Charges:

Taxes

Rates

Securities Transaction Tax (STT)

  • Equity Delivery- 0.1% on both buy & sell
  • Equity Intraday- 0.025% on sell side
  • Equity Futures- 0.01% on sell side
  • Equity Options- 0.05% on sell side (premium)
  • Commodity Futures- 0.01% on sell side (Non-Agri)
  • Commodity Options- 0.05% on sell side
  • Currency F&O- No STT
  • On exercise transaction- 0.125%
  • Right to entitlement- 0.05% on sell side

GST

18% on (Brokerage + Transaction + SEBI fee)

SEBI Charges

0.00005% (Rs.5/crore)

Stamp Duty

(On buy side only) Delivery- 0.015%, Intraday- 0.003%, Equity Futures- 0.002%, Equity Options- 0.003% and Currency F&O- 0.0001%

Commodity Futures- 0.002%, Commodity Options- 0.003%


Geojit Financial Services Limited Trading Software:

Geojit Financial Services Limited offers free trading software to the clients which are as follows:
Selfie Web Version: It is a browser-based website offers you to trade in share market through its platform.
Selfie Mobile: It is a smartphone-based application available for download from Google Play Store and App Store.
FundsGenie: This is a mutual fund application available only for android device in Google Play Store.

Geojit Financial Services Limited Margin:

Segment

Margin

Equity Delivery

No margin

Equity Intraday

Up to 6x (Based on the stock)

Equity Future

Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

Equity Option

Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

Currency Futures

Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

Currency Option

Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

Commodity Futures

Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

 

Geojit Financial Services Limited Advantages & Disadvantages:

Geojit is a very old, diverse and popular broker. We must read advantages and disadvantages before choosing Geojit Financial Services Limited.

Advantages:

• Full-secure and diversified platform.
• 100% paperless account opening facility.
• Margin facility.
• Online & offline facility to open demat and trading account.
• Offers research and recommendation services.
• Call & trade facility.
• After market order (AMO) facility.
• Daily market reports, change of platform, research reports etc.
• 24/7/365 customer support.
• Presence in more than 500 location across India and abroad.
• Hassle-free, easy-to-use and ultra-fast trading software.

Disadvantages:

• Does not offer 3-in-1 account.



Frequently Asked Question

Yes, Geojit offers you to invest in Sovereign Gold Bond which is far better than investing in physical gold bond.
Exploitation of the price discrepancies seen in different exchanges or in the spot market result is the making profit by entering with the opposite positions of the same contract.
• Form A2 is required along with a declaration form: As per the FEMA rules and regulations, form A2 is required every time to declare the amount that is to be transfer abroad. Within the LRS fillings, your bank will file this for you and Stockal automatically fills this for you, only you need to check that all the information is correct or not after that download the filled-in-form, sign and upload it again for your bank to file. • PAN card, address proof.
Currently, Geojit Financial Services Limited does not provide the facility of Algo Trading on its platform but we will update you once the broker will start the algo trading facility on its platform.
Yes, Geojit Financial Services Limited offers free research and recommendation services to their clients.
Yes, Portfolio Management Services (PMS) are available in Geojit Financial Services Limited platform.
Yes, Geojit offers After Market Order (AMO) facility on its platform.
Yes, you can apply for any IPO by using Geojit platform and you will get the information about upcoming IPOs, IPO opening & closing date, allotment date, face value, equity share price, company’s background & financial assets etc. on this platform.
Hedging is considered as a risk management strategy in which trader used to take equal and opposite position in futures market to avoid the risk of loss due to fluctuation in prices in the share market.
You can invest in US market by using Geojit platform, you need to open ab account on Geojit, powered by ‘Stockkal’. Your brokerage account will be created with Geojit’s US partner for clearing services ‘DriveWealth’. After document verification, it will take 2 business days to open your account. After opening your account, you need to transfer money into your brokerage account from your domestic account and now you can invest in US stocks. You can also take the extensive research and support available on the platform.
Yes, NRIs are allowed to trade in share market by using Geojit platform. You need to open NRI demat & trading account on Geojit which is a very easy process.
No, short selling is not permitted under Margin Trading Funding (MTF) whereas you can buy in MTF and sell on the same day itself.
No, Geojit Financial Services Limited only offers 2-in-1 account to resident Indians and NRIs i.e. Geojit demat & trading account and Geojit NRI demat & trading account.
Debenture is a kind of bond issued by a company with no collateral. It is a type of debt instrument which has a term usually greater than 10 years and backed only by creditworthiness and reputation of the issuer.

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