TradePlus Online Review
Its been a long journey for TradePlus Online in the Finance world. They started with investment services in the year 1983 and started as Equity Brokers with National Stock Exchange (NSE) in 1995 and then as a Depository Participant with NSDL in 1997. Then after a decade or so, they started as Commodity Brokers with MCX in 2009 and finally became an Equity Broker with BSE a few years back in 2010.
With the full-service stockbroking background of Navia Markets, TradePlus Online has more than 200 collection centres across the country.
As a Discount broker, TradePlus Online has a unique model in terms of pricing for their Currency, Options and Commodity trading setups charging a fixed brokerage of ₹99 per month without any limit on the number of transactions done.
"Registered with the Navia Markets brand, TradePlus Online serves 5,752 active clients until May 2017."
With this discount stock broker, you can trade in the following segments:
- Mutual Funds
- NRI Trading
"In this review, I am going to talk about multiple facets of TradePlus Online so that you get a detailed 360-degree view about this brokerage house. If you want, you can check out the review video of TradePlus Online added at the top of this review page. Furthermore, You can find the review of TradePlus Online in Hindi as well."
TradePlus Online Trading Platforms
Although there is a wide range of trading platforms, when it comes to performance, value-for-money or user experience, there is a lot that TradePlus Online can improve in the future. Let's talk about the different softwares one by one:
TradePlus Online - Nest on Web or NOW
NOW is an exhaustive platform for accessing options through Laptop, Desktop, Web, Mobile through its different versions. It allows the clients to trade across all segments be it Equity, Futures, Currency or Options. It is directly integrated with BSE and NSE and is loaded with the following features:
- NOW can be used as an executable file and can be installed on a desktop or laptop. It becomes a trading terminal for users who are heavy traders.
- NOW has a web version that can be accessed through any browser from your office, business or home premises.
- It also has a LITE Mobile version that users can access through their mobile browsers and carry on with their trading activities on the move. It is available on Android, iOS, Blackberry, Java and windows mobile platforms.
- It also has a touch-based version can 'Now Touch' which is accessible on Windows 8 and touch-based screens. It is compatible with Chrome, Safari and Firefox versions.
- You can trade across segments, transfer funds online across multiple banks, access interactive charts to technical analysis
- Works on 2-factor authentication making sure you are trading in a secure online environment.
TradePlus Online Infini Trader
Infini Trader is an executable trading software that can be installed on a desktop or laptop to carry out trading. It is a sound trading platform with a unique variety of features such as Order Placement, Viewing Trades & Positions, Charting, Risk Management, Customisable Market Watch etc. Some of the main features of Infini Trader are:
- Cover orders with stop loss trigger
- Conditional market watch with all sorts of filters and criteria as per your preferences
"The only concern with Infini Trader is that its a paid trading platform and users cannot use it for free."
- Order basketing in one go
- Easy customizations and personalizations of interfaces
- Intriguing features such as Price Ladder, Advanced charting, Model basket etc
TradePlus mobile is the mobile app from the house of TradePlus Online. The app allows clients to access services, view statements and get queries resolved within itself. Some of the features the app carries are:
- The app provides access to back office aspects such as ledger balances & statements, open positions, profile view etc. within a single login.
- Transfer funds from your bank to the trading account instantaneously. The app even has integration with PAYTM for simpler usage.
- Set alerts, modify existing and subscribe to newer ones to stay ahead in terms of market knowledge and trends
- Check out latest market updates, research reports and blog articles within the app
As shown in the table, TradePlus Online certainly needs to improve and quicken up its update frequency cycle of the mobile app. With regular updates, users are able to access new features as well as get rid of the bugs or issues in the previous version of the mobile app.
TradePlus Online Customer Service
This is one area, I believe TradePlus Online is doing well as compared to many stockbrokers in the discount stockbroking space. Gaining client trust is one of the biggest challenges against discount stock brokers in India and I think, with its extensive focus, this broker is certainly making inroads in the service space.
"TradePlus Online has a Twitter-based customer resolution initiative wherein client's twitter account can be integrated into the trading platforms."
These are different communication channels, this discount broker allows its clients to reach back to it:
- Toll-Free Number
- Social Media
- Twitter Integration
- Web support through Knowledgebase
With these number of communication channels, the discount broker has certainly made sure to keep multiple gates and windows open for clients. Not only that, the broker makes sure the turnaround time of the queries raised is also short. Thus, definitely customer service is one of the top points for the broker.
However, my view on this service is that you may try this for a month or two. The quality of the research tips is not that great and if you need tips, better check out some of the expert advisory services or you can use full-service stockbrokers.
TradePlus Online Pricing
Here are details on different pricing components of TradePlus Online:
TradePlus Online Account Opening Charges
Thus, you need to make a one-time AMC payment for a decent duration. By setting up pricing like this, TradePlus Online expects long-term commitment from its clients.
TradePlus Online Brokerage
As far as the brokerage is concerned, TradePlus Online has a unique model for Currency, Options, Commodity and Futures trading coming at a fixed monthly price for UNLIMITED trading.
For more information, You can check this detailed TradePlus Online Review