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Samco Review by A Digital Blogger

 

 

Samco Review

Samco (formerly called Samruddhi Tradecom India Limited) is one of the leading discount brokers in India with the membership of BSE, NSE, MCX-SX, MCX and NCDEX. Furthermore, it is known to be one of the cheapest stock brokers charging a flat amount as brokerage (more on that later). Based out of Mumbai, Samco allows its clients to trade across multiple financial segments including:

  • Equity
  • Currency
  • Commodity
  • Listed Bonds
  • ETFs

"Be End of 2017, Samco has an active client base of 25,305"


Samco is known to be a suitable stock broker for beginners since it provides an exhaustive repository of basic and intermediate tutorials on trading and investing. At the same time, with low brokerage charges, Samco leaves a low chance of risk for beginners as compared to other stockbrokers

 

Samco Trading Platforms

Samco Trader

Samco trader is a terminal based trading platform by the stockbroker. The clients need to download and install the software to go ahead with trading. Suitable for heavy traders, Samco trader comes with the following features:

  • Market watch
  • Snap Quote trading feature explains the movements of a particular stock along with current buyers and sellers' current price and number of stocks offered
  • Funds transfer
  • Cover orders, View RMS margin, capital or limits

Samco Web 5

Samco Web 5 is a responsive web trading platform that can be accessed directly through a browser and does not need any installs or downloads. Clients can just enter valid username and password and start trading from anywhere.

Samco web 5 comes loaded with all kinds of usable features and looks like as shown below:

 


Samco seems to have a quantitative approach when it comes to trading platforms. Although they have been able to provide multiple trading platforms, quality wise there are quite a few compromises that can be observed.

The Bigger concern is, there are minimal updates done on these trading platforms.


Samco Mobile App

Samco Mobile is a comprehensive mobile trading app from Samco. It is known to be highly secure and authenticates the logged in user with numerous algorithms.

Some of the features of the application include:

  • Real-time market information
  • Provision to add market watch lists
  • Multiple data points for stock analysis

"Samco provides one of the worst performing mobile apps in India with super low update frequency cycle, slow speed and limited features."


At the same time, some of the top concerns with this mobile application from Samco are:

  • App update frequency cycle has no regularity with the last update was done in July 2016. To give you a perspective, generally, mobile apps in trading space get updated in a frequency range of 3-5  weeks.
  • App crashes and hangs most of the times, especially when the market has high traffic.
  • Below par design with the sub-optimal user experience.

Customer Service

Samco is available to its clients through the following communication channels:

  • Email
  • Phone
  • Social Media

The thing with Samco when it comes to customer service is that they are very salesy in their mode of discussion. However, customer service is primarily aimed at helping out existing client base when they get stuck in any specific aspect.

If Samco is looking to provide any sort of value to its clients through Customer Service, it needs to look at the following aspects very closely:

  • Train its customer executives team and make them skilful enough to deal with clients coming with different types of queries.
  • Quicken up the turnaround time for the resolution provided to the client.

Once these basic areas get figured out at Samco, then the outlook of clients may change as well.


"Samco introduced ITL (Indian Trading League), in lines to Zerodha's 60-day challenge, with Kapil Dev to bring in organic popularity. But what actually matters to clients is transparency, value for money service and decent trading platforms."


Funds Transfer

There are 3 ways to transfer funds to your trading account in Samco:

  • Payment Gateway integrated within Samco's trading platforms or Backoffice
  • NEFT/RTGS
  • Cheque

For payouts, Samco requires the clients to either use the back-office or submit a payout request through the trading platforms. The funds transfer actually happen in 2-3 days (although it is told it happens the same day).

Samco Pricing

In pricing, a client needs to pay the following charges during trading:

  • Account Opening Charges
  • Brokerage of the stockbroker
  • Transaction Charges of the exchange
  • Govt. taxes

"The minimum initial deposit you need to provide for account opening is ₹25,000."


For Samco, charges are explained below:

Samco Account Opening Charges 

Samco Brokerage

 

For info on Pricing and rest of the review, you can check out this detailed SAMCO Review

 

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