Competent Finman Review, Brokerage Charges, Demat Account & More

Competent Finman is the forefront organization dealing with equity and derivative based trading to the people across the nation throughout all the major Indian Stock Trading Exchanges for the Competent Group.

The prime motive of this article here is to vivisect the ways in which the company operates as a whole and to also determine if the company is worth joining for the people interested in trading across the Indian subcontinent.

We will review every aspect of the company like their products, services, offers, exposure on trading certain assets classes, brokerage and other relevant charges and most importantly the trading platforms they have to offer.


Competent Finman Customer Ratings & Review

Products & Services3.4/5
Brokerage Charges & Fees3.3/5
Stock Research & Advisory2.6/5
Trading Platforms2.4/5
Overall Ratings2.7/5
Star Ratings★★★☆☆
Total Client Reviews156

Competent Finman offers

About Competent Finman

Company TypePrivate
Broker TypeFull Service Broker
FounderRanjan Chawla
Established Year2000

Competent Finman

As per the details provided within the table of contents above, Competent Finman was founded in the year 2000 within Chandigarh by the company’s founder Mr. Ranjan Chawla.

Nevertheless, the company had already made it’s entry into the market as a sub-broker in the year 1992.

Ever since the conceptualization of this fully integrated financial services provider, they have stayed firm on their business ideals that is honesty, integrity and competence.

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Competent Finman Brokerage Charges

Equity Delivery Trading0.35%
Equity Intraday Trading0.04%
Commodity Options TradingNA
Equity Futures Trading0.04%
Equity Options TradingRs.75 per Lot
Currency Futures Trading0.04%
Currency Options TradingRs.50 per Lot
Minimum BrokeragePercentage of Transaction
Demat AMC ChargesRs.250 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.20,000
Brokerage CalculatorCompetent Finman Brokerage Calculator

If you look into the above mentioned table, you will easily notice that Competent Finman typically charges an amount of Rs.250 per year with regards to the annual maintenance charges of having a Demat Account.

Their brokerage charges are Rs. 50 per lot as brokerage over Currency Options Trading, Rs. 75 per lot as brokerage on Equity Options Trading, 0.004 % brokerage on Currency Futures Trading & Equity Delivery & 0.35 % on Equity Delivery Trading.

Moreover the company also seeks their clients to have a Margin Money of Rs. 20,000 for continuing to trade.

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Competent Finman Other Charges

Transaction Charges0.00250%
STT0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)

Competent Finman also charges a certain amount in terms of added taxes which can be understood by looking at the table above this section.

As you can see from the table of contents above, you will find that they charge 0.0126 % of the overall turnover volume as Securities Transaction Tax, 0.00250 % on the overall turnover value as Transaction Charges, 0.0002 % as SEBI Turnover Charges on the overall value of turnover and 18 % GST on the sum of the total brokerage and Transaction Charges cumulatively.

They also seek a certain variable amount as Stamp Duty depending up on the state norms.


Competent Finman Demat Account Opening Fees

Depository SourceCDSL & NSDL
Account Opening ChargesRs.250
Demat AMC ChargesRs.250 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.20,000
Offline to OnlineYes

As you must be able to understand after taking a look at the aforementioned table, Competent Finman allows anybody from across the nation to join them as a trader or as an investor by merely paying a basic charge of Rs.250.

Furthermore, they also impose a charge of Rs.250 every year from their respective customers in terms of annual maintenance charges for having a Demat Account and seek all their customers to maintain a minimum balance of Rs.20,000 as Margin Money.

However, they do not require the clients to pay any sort of annual maintenance charge for having a Trading Account.

Competent Finman Offers

Free Demat AccountNo
Free Trading AccountYes
Discount on BrokerageNo
Trading Happy HoursNo
Flexible Brokerage PlansNo
1 Month Brokerage FreeNo
Holiday OffersYes
Referral OffersNo
Zero Brokerage for Loss Making TradesNo

As must be clear to you from the table of contents mentioned just above this section, Competent Finman do not have a lot to give when it comes to distributing offers. They merely have offers related to Free Trading Account and Holiday Offers.

Nevertheless, you must not expect them to give you any offers in terms of Free Demat Account, Discount On Brokerage, Trading Happy Hours, Flexible Trading Plans or even Referral offers.

To know about offers of other stock brokers check below

CIL SecuritiesK R ChokseyAshika StockBhansali Value
Coimbatore CapitalKunvarji FinstockAshlar SecuritiesBhumika Consultancy
Comfort SecuritiesNarnolia SecuritiesB N Rathi SecuritiesBP Equities

How to Open a Demat Account with Competent Finman?

Just follow the steps mentioned here to register yourself as a trader or an investor with Competent Finman:-

  1. Click on the green button reading ‘Open Demat Account’, that you may find below this segment.
  2. Read the form that pops up on your computer screen thoroughly.
  3. Carefully fill up all the mandatory details required within the form with the correct information.
  4. Submit the form and proceed to the nest section for the sake of KYC Verification.
  5. Upload a copy of your Adhar Card, PAN Card and a photograph so as to verify your age, address and identity respectively on the website.
  6. You may expect a call from one of the authorized representatives of Competent Finman as soon as you complete all the aforementioned steps. This particular representative will help you to get through the final few verification procedures.
  7. Once you are done with all the above mentioned steps, you will be granted full access to your new account.

Why Open Competent Finman Trading Account?

Here are some of the major reasons why you should consider joining Competent Finaman as an investor or as a trader to kick off your trading career:-

  1. They have more than two hundred branches that you can access as a registered client and gain access to all sorts of financial services.
  2. They happen to be a part of a group of companies where the other sister companies have their own distinct areas of expertise. This may come in handy and give you an edge technologically.

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Competent Finman Products & Services

The various products & services provided by the stock broker are –

Products Offered by Competent Finman

Equity TradingYes
Commodity TradingYes
Currency TradingYes
Mutual FundsNo

Just a few glimpses at the chart drafted above this particular section will help you to understand all about the products that Competent Finman has to offer.

So, you must be able to see that the company has exclusive products with regards to Commodity Trading, Currency Trading, Equity Trading, Options Trading and Futures Trading.

Competent Finman Service Offerings

Demat ServicesYes
Trading ServicesYes
3 in 1 AccountNo
Intraday ServicesYes
IPO ServicesNo
Stock RecommendationsYes
Robo AdvisoryNo
Trading InstitutionNo
Trading ExposureUpto 6X

As you must be able to conclude from the above mentioned chart of contents, Competent Finman provides extensive financial services to all their respective clients with regards to Demat Services, Trading Services, Stock Recommendations and Intraday Services with up to six times the trading exposure on the asset classes.


Competent Finman Research, Advisory and Stock Tips

Fundamental ReportsNo
Research ReportsNo
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsNo
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly ReportsYes
Offline AdvisoryYes
Relationship ManagerYes

The above mentioned table of contents has been drafted in a manner so as to make you understand in details about all the support you may expect from in terms of Research and Advisory from Competent Finman.

You might be able to tell from the above table that the company provides exclusive Research and Advisory with respect to a Relationship Manager, Weekly Reports, Offline Advisory, Monthly Reports, Daily Market Reviews, Top Picks as well as Free Stock Tips.

Competent Finman Exposure or Leverage

Equity DeliveryUpto 3X
Equity IntradayUpto 6X
Equity FuturesUpto 2X
Equity OptionsUpto 5X
Currency FuturesUpto 3X
Currency OptionsUpto 6X
CommoditiesUpto 3X
Margin CalculatorCompetent Finman Margin Calculator

If you merely take one look at the table of contents as presented above this particular section, you might as well be able to figure out that Competent Finman offers an additional exposure of upto 3X on Equity Delivery Trading, Currency Futures Trading & Commodity Trading.

They provide leverage of upto 6X on Currency Options Trading & Equity Intraday Trading, up to 2X on Equity Futures Trading and upto 5X on Equity Options Trading.

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Competent Finman Trading Platforms

Desktop Platform – WindowsYes
Desktop Platform – MacNo
Desktop Browser PlatformYes
Mobile Site PlatformNo
Android App PlatformYes
iOS App PlatformYes
Windows App PlatformNo
Other Mobile OS PlatformNo
Real time UpdatesYes
Portfolio DetailsYes
Online MF BuyNo
News FlashYes
Research ReportsNo
Easy InstallationYes
Global IndicesYes
Stock TipsYes
Personalized AdvisoryNo
Interactive ChartsYes
Live MarketsYes
SMS AlertsYes
Email AlertsYes
Multi Account ManagementNo

Competent Finman has many remote based trading platform to offer to their respective clients including platform that have been developed for computers, web browsers as well as smart phones.

Here is the proper list of all:-

Competent Finman Trading Terminal

For this the company uses NSE’s NEST with the following features:-

  • Ability for real time execution of data.
  • It has the ability to transfer data to Excel for analysis.
  • Trading platform allows adding multiple watch lists.
  • Ability to commence many different technical and basic analyses.
  • It allows to showcase in-depth information on placed orders related to buying and selling.
  • This provides access to ‘Net Positions’ window and get a detailed snap of respective user’s market positions in real time.

Competent Finman Mobile Trading App

The dedicated mobile based app for Competent Finman can be found on both Google’s Play Store and Apple’s App Store by the name of my Finman.

The application on App Store has merely two reviews, both 5 stars, however the one on the Play Store has more than 100 downloads and eighteen reviews with an average of 4.3 stars.

Competent Finman Customer Care

Dedicated DealerNo
Offline TradingYes
Online TradingYes
24*7 SupportNo
Support Number
Email SupportYes
Chat SupportNo
Toll Free NumberNo

Competent Finman provides exclusive customer care support with regards to Offline Trading, Email Support and Online Trading through the network of 9 branches located across the nation.

Competent Finman Complaints and Feedback

Lodged in BSE0
Resolved in BSE0
Lodged in NSE1
Resolved in NSE1

Competent Finman received only one complaint in the National Stock Exchange last year which have also been resolved.

However, the fact that they did not receive even one complaint in the Bombay Stock Exchange is nothing less than commendable.

Competent Finman Disadvantages:

Although a great financial services provider and definitely a good brokerage firm, Competent Finman still has a few flaws that needs to be taken care of:-

  1. They lack a lot of customer care support provisions such as a toll free number or a dedicated dealer.
  2. Their mobile app is not that popular within the market, thus it is hard to tell if the reviews are genuine.

Competent Finman Conclusion

Competent Finman is good to be joined for the new people getting interested in trading and broking. However, they re definitely not great for the experts.

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