Nirmal Bang Review
Launched in 1986, Nirmal Bang is one of the prominent full-service brokers in India. It has a membership with NSE (National Stock Exchange), BSE (Bombay Stock Exchange), MCX (Multi Commodity Exchange of India Limited), MCX-SX (Metropolitan Stock Exchange Of India) and NCDEX (National Commodity & Derivatives Exchange Limited) and allows its clients to trade in the following segments:
- Institutional Broking
- Depository services
- Mutual Funds
Nirmal Bang is also in Margin funding and PMS (Portfolio management services) along with the retail broking services in the segments mentioned above. Nirmal Bang is known for its customer service and high client retention rate as per the records. Based out of Mumbai, Nirmal Bang has a presence in 360 cities of the country with more than 2000 franchises.
It also has a monthly magazine called 'Beyond Market' available online for free for all. Users just need to browse this link and it can directly be downloaded from there.
Nirmal Bang provides a mix of in-house and out-sourced trading platforms to its clients. Although there is a reasonable range of these trading platforms offered, there is winner sort of a trading platform that has been able to gain any prominence. Thus, from the technology perspective, Nirmal Bang certainly needs to pull up its socks and come out as a higher technology-enabled stock broking company.
Nonetheless, let's talk about these trading applications:
ODIN Diet is the conventional trading terminal that users can download, install and connect directly with Nirmal Bang to start trading. Since its a lightweight application, the trading experience is pretty efficient and smooth. Some of the features the ODIN Diet software carries are:
- Data from multiple exchanges available on real-time basis
- Customizable UI themes with personalized views available
- Easy fund management with payment gateway, fund allocation and withdrawal features
- Real-time quotes with provision to directly place orders
Nirmal Bang trade is the web-based trading platform that users can access by browsing a link, entering valid login credentials and start trading without any downloads or installs. This application is obviously much less cumbersome and can be accessed from anywhere. Users can trade in any of the segments including Equity, Currency, Commodity or Derivatives.
Some of the features of this application include:
- Lightweight web trading application
- Watchlists with multiple scrips
- Heatmaps allowed for easier technical analysis
- Charts available for detailed understanding of the stock market momentum
However, if you are an intermediate to an expert level trader, you might find the application to be relatively basic in nature in terms of the number of features and trading experience.
Beyond is the mobile trading application from Nirmal Bang which has been developed and maintained internally by the full-service stockbrokers' technical team.
Some of the features of this mobile app are:
- Interactive design and navigation making life easy for traders
- Market watch feature with multi-exchange streaming
- Fund transfer provision with more than 25 prominent banks of the country
- Live market reports, intra-day charts and news & research section
Nirmal Bang BO (Back Office)
This mobile app is for the registered clients to check out the following information related to their account:
- Weekly, Monthly, Yearly or custom period snapshot
- Financial statements and reports
- Notional Cash and Derivative segment
Nirmal Bang Customer Service
As far as customer support is concerned, here are the communication channels provided to the clients of Nirmal Bang:
- Offline Branches
- Support Portal
With multiple channels to get in touch with the support staff of the full-service stockbroker here, Nirmal Bang has certainly taken care of the quantity part for certain. A dedicated portal just for customer support gives a reasonable idea of the kind of quality that look to bring in this aspect.
However, there is a lot that can be done in terms of turnaround time of the concerns raised by the clients. Overall, it can be rated slightly better than average.
Nirmal Bang Research
Research is one strong pillar when it comes to the propositions Nirmal bang offers via its service. Some of the different types of reports at both fundamental and technical level (across different trading segments) are shown below:
- Price Analysis
- Volume Analysis
- Index Analysis
- News Analysis
- Corporate Action
- India Market
- Market Updates
- Market Report
- IPO Issues
- News and Analysis
- Mutual Funds
- MF Updates
- MF Trends
- Markets Movers
- News Commentary
As far as the accuracy and consistency of these tips and recommendations are concerned, the overall quality is pretty good and can be trusted. It can be a good benchmark for you if you are a beginner level trader to use these tips with some bit of analysis on your own.
At the same time, if you are an expert level trader, these tips can work as a reference for the stock market momentum so that you can carry forward your analysis in the right direction.
Nirmal Bang Pricing
Nirmal Bang Account Opening Charges
Nirmal Bang Brokerage
Nirmal Bang has been reasonably nominal in terms of its brokerage as compared to other full-service stock brokers in India. Here are the details: