Choice Broking Intraday Trading – Benefits, Process, Charges, Margin & more
Choice Broking is a full service broker based out of Mumbai, and this article focuses on the company and Choice Broking Intraday Trading facility.
The company came into existence in 1992. And, the real idea of initiating such a firm occurred to Kamal Poddar. Kamal initiated the company with only one aim. To help traders and investors across the nation get better facilities and generate more profit.
In fact, it has memberships across the BSE, NSE, MCX-SX and NCDEX. Moreover, it even has the DP rights to CDSL. And, this makes all the transactions required for trading purpose rather easy. The company even has 18 branches located across the nation.
Therefore, it makes offline accessibility great for the company. The company has a lot to praise about. Anyway, we’ll focus on very specific service it grants.
We’ll mention all the benefits associated with this service, the charges involved on this process, how to get registered for it and commence day trades through Choice Broking Intraday.
Choice Broking Intraday Trading & Benefits
Intraday Trading is considered typically tough as compared to normal stock trading. The risks involved are obviously greater and, the analytical skills required to commence these trades may take years to form.
However, with proper guidance and caution, these trades may result in amazing profits. That’s why, Choice Broking Intraday Trading grants many benefits to aid the traders.
We’ve enlisted all the major benefits they grant right below:
- Choice Broking Intraday Trading can be tapped for better trade margin. The company follows in the industry trend of letting certain exposure on trade margin. In fact, it typically allows its traders to access a trade margin worth 5 times the account value.
- Choice Broking is known for their exceptional industry insights. They have a team of experts who regularly commence trade research. Furthermore, the company even allows the customers to access Choice Broking Trading tips including Monthly, Weekly, Online and IPO reports.
- The customers may even access Free Stock Tips and Offline Advisory. And, at times of certain issues, the clients may refer to the dedicated Relationship Manager provided by the company.
- Choice Broking is one of the few companies to have introduced more than one mobile app. In fact, they present 3 distinct mobile app to the customers. And, each one of them caters to a different need.
- Moreover, they even provide access to Desktop based trading terminal compatible with both Mac and Windows. The trading account can be easily accessed through any of these platforms.
- They often provide massive discount on the brokerage charges. In fact, this is one of the best things about Choice Broking. Furthermore, they even grant customized brokerage plans on certain occasions.
Open Choice Broking Trading Account Now! – Fill up the Form
How to do Intraday Trading in Choice Broking?
Intraday Trading activities include a lot of pre and post trade analysis. It is required to stay updated with even the minute fluctuations of the shares. However, commencing a trade is not that complex. In fact, Intrady Trading in Choice Broking is rather simple. And, all you need is follow the steps as we’ve enlisted them:
- You must have a Choice Broking trading account in order to commence the trade. However, you need not worry in case you do not have a trading account yet. All you need to do is check out some of other articles. In fact, we’ve provided specific guidelines in another article about Choice Broking that can help you to get your hands on one of their Trading Accounts.
- Nonetheless, if you already have a trading account, then most of your work is done. The next step in this condition will be to access your account. You can choose to do so through any of the platforms provided by the company.
- For the next thing, you must first select the trade class you want. We’re referring to the industry, sector and capital bracket. You must then create a watchlist of the selected shares. And, the last step is to keep an eye on the real time market fluctuations for the selected shares.
- The last step in this process is to commence the trade. For this, you must go to the ‘Buy / Sell’ section within your profile. You must then select the option ‘Intraday / Day Trade’ before proceeding.
Know more about other Intraday Trading Brokers
Choice Broking Intraday Charges
Choice Broking Intraday brokerage is a matter of pride for the broker. This is because they like to keep things transparent. And, that’s why a typical Choice Broking Intraday charges list will consist the following:
- SEBI Turnover Charge. This is imposed as per SEBI’s requirements.
- Transaction charge.This is a charge incurred over the amount of transaction made.
- Securities Transaction Tax also known as STT. A government regulated tax amount incurred over the transaction value.
- Brokerage charge. The commission earned by the broker in simple terms.
- Stamp A state dependent tax of minimum concern.
- GST imposed as per the government policies.
|Choice Broking Intraday Charges|
|Intraday Brokerage Charge||0.02%|
|Intraday Brokerage Calculator||Choice Broking Brokerage Calculator|
In this manner, you now know that you have to pay a fixed brokerage of 0.02% on the overall turnover. Also, this is not the end or final charge you will be paying, as they are inclusive of a lot of charges such as transaction cost, STT charge, SEBI Turnover charge and more.
The list of all the charges are already given in the list above, alongside the brokerage amount you need to pay for the same.
Choice Broking Intraday Margin
Granting leverage on Intraday trades is an active trend in the Indian brokers. And, Choice Broking is not an exception. In fact, Choice Broking Intraday Margin is fixed at 20x.
This means, with the help of Choice Broking Intraday limits, customers can buy up to 20 times their actual spend.
|Choice Broking Intraday Exposure|
|Intraday Margin Funding||Upto 20X|
|Intraday Margin Calculator||Choice Broking Margin Calculator|
The additional amount required for a purchase of that stature is immediately paid by the company. You may consider it as a loan. And, you must pay it back to the brokerage firm with proper interest.
We’d suggest you to go through the norms of the company before availing this facility nonetheless. This will basically help you in taking an informed decision.
Find out Intraday Trading Details of other Stock Brokers
Choice Broking Trading – Types
Choice Broking Trading provides the traders with many facilities. However, most important of them is the mode of trading they provide.
Their customers can choose to go for Choice Broking online trading or online trading facilities. You can typically choose to operate using any of their mobile apps.
On the contrary, you may visit them at one of their branches and use a trading terminal they have installed there, instead.Both the ways are effective depending up on your convenience.
Choice Broking Intraday Trading – Conclusion
We highly recommend Choice Broking Intraday Trading. And, we’re not at all biased towards the company. They have some of the best trading platforms. Even their brokerage charges are fixed which clears the air for any confusion.
However, the trade exposure they provide is not that competitive. In fact, there are other full service brokers in the industry with an even higher trade exposure.
Open Choice Broking Trading Account Now! – Fill up the Form
Know in detail about Intraday Trading of other brokers
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