Angel Broking Overview
What is the real story?
Angel Broking is an Indian Full Service Stock Broking company founded in the year 1987 and is headquartered in Mumbai. It is a depository participant with CDSL and is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), National Commodity & Derivatives Exchange Limited (NCDEX) and Multi Commodity Exchange of India Limited (MCX).
When it comes to offline presence, the company has more than 8500 sub-brokers and franchise outlets in 900+ cities across India. As of now, it boasts of more than 1 Million clients in its lifetime till now. Thus, there are reasonable chances of you finding its office around your area, especially if you are living in 1st, 2nd or 3rd tier city.
"Angel Broking boasted of 2,30,194 active clients for June 2017 this financial year."
It primarily provides financial services to retail clients. Their services include:
- Equity Trading
- Commodity Trading
- Currency Trading
- Portfolio Management Services (PMS)
- Life Insurance
- Mutual Funds
"Angel Broking is known for the wide offline presence that it has been able to capture in last three decades of its establishment.
Started as a small broker, Dinesh Thakkar has been a remarkable personality in taking this full-service stockbroking house to multiple levels of growth."
Angel Broking Trading Platforms
In this Review, we will talk about different trading platforms such as the mobile App/Web and Angel SpeedPro for online trading. Where Angel Broking App is a recently launched mobile app for online trading, this web-based application is an extension to their previous browser trading platform Angel Eye.
SpeedPro, at the same time, is a conventional trading platform software that you can download on your desktop or laptop for online trading. Here are the details:
This mobile app has been recently launched and is powered by ARQ - a Hi-tech auto advisory engine. ARQ helps users to stay invested in the top performing stocks and mutual funds, while the smarter trading platform makes online trading pretty simple. There are few innovative features such as faster stock-tracking with multiple watch lists, auto news updates & real-time fund transfer-ability through multiple banks.
Detailed Review of ARQ can be found here.
Here are some of the features of the app:
- Live streaming prices
- ARQ - Personalized advisory offering index-beating returns
- Intraday charts with Indicators
- Online Payment via 40+ Banks
- 40 technical chart indicators and overlays to analyze each and every aspect of the stocks.
- Personalized notifications for trades and ideas.
Here are some of the screenshots of the app:
Some of the concerns in the mobile app include:
- Connectivity issues in smaller cities
- User experience can be improved
- Limited number of features as compared to other mature mobile apps for trading
Angel Broking Web is an extension to the earlier browser trading platform 'Angel Eye'. This browser-based trading platform has been there for a while now. The user does not need to install anything while using this platform and can trade directly through a web browser. Some of the features of this Web application include:
- Track investments across all asset classes and for your entire family from single place
- Access latest market data, News as well as Angel research
- Easy to use & intuitive navigation with custom authentication for added security.
- Multiple exchanges, hi-speed trading platform with streaming quotes.
Here is a screenshot of the platform:
Angel SpeedPro is a trading software that you can download on your desktop or laptop to carry on online trading. Some of the features of the tool include:
- 30 days intraday and 20 years historical data with 70 + studies for advanced technical analysis
- Real-Time rate updates
- Scrip-wise buy price, day's gain/loss and overall profit/loss to view your holding portfolio at a glance
- Integrated news flash and research reports
Here is a screenshot of the trading platform:
Also Read: BEST ONLINE TRADING PLATFORMS IN INDIA 2016
Angel Wealth is basically an investment management mobile app from Angel Broking. The app allows you to plan out your investment goals, recommends you equity and MF investments based on ARQ - the recommendations engine from this full-service stockbroker.
Some of the features of Angel Wealth are:
- Shows your current holdings and positionings across different financial products
- Allows you to open a Big savings account which gives potentially higher returns as compared to a standard savings account.
- The mobile app is sleekly designed and is optimal for beginner users as well.
This is how the app looks like:
Angel Broking Customer Service
Angel Broking, being a full-service stockbroker, has higher expectations from its client base when it comes to quality and speed of resolutions. The broker provides the following communication channels for clients in order to reach out to it:
- Online Customer Service Centre
- Offline Branches (Sub-brokers and Franchise offices)
When it comes to the ground reality though, Customer Service is one of the biggest concern for this full-service stockbroker. Be it any aspect such as Quality of Service, Communication Protocol, Time taken for issue resolution - the service level is below average. Thus, it becomes super-important for this full-service stockbroker to make sure their service lives up to the brand they are looking to create for their clients.
Angel Broking Funds Transfer
There are 4 different ways through which clients can transfer funds from their bank account to their trading account. Below are those listed:
- Trading Platform
You can transfer funds to your trading account using any of the trading platforms such as Angel Broking Web, Angel Broking Mobile App or Angel Speed Pro. Using these softwares, you can transfer funds from more than 40 banks in India.
- Angel Back Office
Apart from the trading platforms, the back office can also be used to transfer your funds into your trading account with the broker.
- Demand Draft
Clients can also use Demand draft along with the requisite documents for the funds' transfer process.
- Cheque Deposit
You can drop a cheque from any of your linked bank accounts with the broker. However, this process takes few business days for the funds to get transferred.
Angel Broking Pricing
Get Free Lifetime Demat and Trading Account with AMC
Pay ₹1500 subscription and get Annual maintenance charge (AMC) free forever as long as your account stays active with Angel Broking.
Trading Brokerage depends on the kind of trading plan a customer chooses.
Angel Broking Brokerage Charges
Being a full-service stockbroker, it charges its clients a percentage based commission. This basically implies that depending on your trade value a specific percentage will decide the actual brokerage you are going to pay for that particular trade.
For instance, if you are trading for ₹1,00,000 at the delivery level and your brokerage percentage is 0.40%, that would mean you are going to pay ₹1,00,000 X 0.40% or ₹400 as the brokerage for that particular trade.
Angel Broking Brokerage Plans
There are 4 different brokerage plans to choose from Angel Broking. A user depending on the initial capital he or she is looking to put in can pick a plan:
This is a beginner's plan for people who are looking to test the waters in the stock market. The customer needs to pay an amount (margin money) of ₹10,000 at the time of opening the account. This amount is used by the customer for trading once the account gets activated. AMC of ₹450 starts from the first year itself.
Get Flat 20% discount on brokerage for all online trading and Free SMS advisory services for 3 months from Angel Broking by filling the form at the end of this page.
This plan requires the customer to pay a margin money of ₹25,000 and since the initial amount paid is higher than paid in Angel Classic plan, the commission or brokerage charges are relatively less. AMC of ₹450 starts from the second year with first-year AMC free.
Any customer who pays margin money of anywhere between ₹50,000 to ₹99,999 - he or she qualifies for Angel Premier plan. AMC of ₹450 starts from the third year with first two years AMC free.
"There is a minimum brokerage clause of ₹30 when you trade through Angel Broking. Whatever be your trade value, you will be required to pay ₹30 as minimum brokerage rate."
Least brokerage is paid by the customers who put in initial margin money of ₹1,00,000 or more. AMC of ₹450 starts from the fourth year with first three AMC free.
Click here to check the complete Angel Broking Review.