Choice Broking Trading / Online Trading – Review, Process, Benefits, Charges & moreLast Updated Date: Aug 30, 2023
Choice Broking is a Mumbai, Maharashtra based full service broker. The company came into existence in the year 1992. They’ve been on a growing streak ever since, providing Choice Broking Trading services.
The company has more than 400 branches across the nation. Moreover, they even have a network of over 1100 franchises. They recently acquired the brokerage giants like NG Rathi and Indiatrade. We’ll closely review Choice Broking Online Trading service.
At first, we’ll establish all the taxes included in their brokerage. Then we’ll explain the service charges they levy. We’ll even help you understand the process through which you may begin trading.
Choice Broking Trading and Benefits
Choice Broking is one of the biggest trading and analytical giants in the country. Using Choice Broking Trading services comes with many benefits like:
- The fact that they have over 400 official branches is a great deal, along with more than 1100 franchises. This makes their offline services extremely accessible.
- They do not incur a huge charge in terms of account opening. As a matter of fact, they only charge Rs.250 for this. Moreover, their Demat Accounts come without any sort of AMC requirements. This means that these accounts can be used without any sort of maintenance.
- They provide huge discounts on overall brokerage charges. This is one of the biggest benefits they grant.
- They even have a ton of flexible referral offers to provide.
Open Trading Account with Choice Broking – Fill up the Form Now!
Choice Broking Trading Charges
|Choice Broking Charges|
|Transaction Charges||0.00285% of Total Turnover|
|STT Charges||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty Charges||Depends on State (very minimal)|
|GST Charges||18% of (Brokerage + Transaction Charges)|
Choice Broking is definitely one of the biggest full service brokers in India. However, that does not make them different in terms of levying service charges.
This means that Choice Broking trading charges come bound with various taxes.
- At first, they levy 0.00285% on total turnover as Transaction Charge.
- The next set of taxes is levied in terms of STT charges. This is even known by the name of Securities Transaction Tax. And, this is charged at 0.0126% on total turnover.
- There is yet another tax that’s levied upon the total turnover i.e. the SEBI Turnover Charges. This is levied at 0.0002% on total turnover value.
- The customers must even pay GST worth 18%. However, this is levied on the sum of brokerage and transaction charges.
- At last the company levies a certain amount as Stamp Duty. This amount varies from state to state.
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Choice Broking Delivery Trading
|Choice Broking Delivery Charges|
Delivery Trading makes the most common form of trading in India. The customers may use Choice Broking Deliver Trading services with ease. These services come with proper analysis and research as well.
These services even allow the customers to buy, store and then sell certain shares. The bought shares are stored within the Demat Account of the customers. The entire set of services can be availed at a rate of 0.2%.
Choice Broking Intraday Trading
|Choice Broking Intraday Charges|
There is yet another trading domain similar to Delivery Trading and it is Intraday Trading. The customers may use all of Choice Broking Intraday Trading services with ease as well.
However, there is a mild difference between Delivery and Intraday Trading. In Intraday Trading, the customers must deal in all the shares they buy within the same day. These services may be availed at a rate of 0.02%.
Choice Broking Option Trading
|Choice Broking Option Charges|
|Equity Options||Rs.25 per Lot|
Another domain of trading is the Options Trading. This one refers to when the trade is done at a preset price point. In simple words, the unit price of shares is determined in this format.
The determination of price is done through analysing the performance of the companies in the past years. Traders may avail all services related to Choice Broking Options Trading at a brokerage rate of Rs.25 per lot.
Choice Broking Futures Trading
|Choice Broking Futures Charges|
Choice Broking Futures Trading services are available at a brokerage charge of 0.02% for Equity Futures and Currency Futures. These services are somewhat similar to Options Trading services.
However, the main difference lies in the trading date. In this case, the date is decided before the stocks are bought.
Choice Broking Currency Trading
|Choice Broking Currency Charges|
|Currency Option||Rs.20 per Lot|
Choice Broking Currency Trading services are a great match to the world’s best Forex Trading services. These services may easily be availed by paying a certain service charge. The traders are required to pay Rs.20 per lot in this scenario.
Choice Broking Commodity Trading
|Choice Broking Commodity Charges|
Last, but not the least comes Choice Broking Commodity Trading services. These services refer to the trading across certain industrial metals and agricultural products.
The services are available with a payment of certain charge. 0.02% is the required amount for this situation.
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Choice Broking Online Trading Process
In case you think using Choice Broking Online Trading services can be a complicated, you’re wrong. That’s why we’ve garnered the entire process in steps for you. So, here’s all you need to do:
- Registering for a Demat Account counts as the first step in the process. This can easily be achieved. All you must do is click on a button at the end of this section. The button we’re referring to contains ‘Open Demat Account’ written on it.
- Once you click on that button, you’ll be led to a new page. This page will consist of a form with several blank spaces. Fill the form up with correct details and submit it. You must even submit a couple of documents along with the form.
- You’ll receive a call from the company after the 3rd This’ll get access to a specific login credentials. You must use these credentials to log into the company’s Demat Account.
- Once logged in, it’s preferable to change the default password for security purposes. Then you may create a watchlist with all your favorite stocks. This’ll help you to easily monitor the stocks’ performance and determine the right time for trading. This’ll even keep you notified of the market fluctuations.
- The last step in the entire process is to start trading. For this you may go to the ‘Buy / Sell’ section in your profile”.
Choice Broking Online Trading Platforms
Choice Broking Online Trading Platforms are of utmost importance to the company. They provide the traders and investors with a winning edge. They even showcase the company’s ability towards consistent growth.
Choice Broking provides access to two of such Platforms. And, here’s the detail about them both:
- Choice Broking Desktop Based Trading Platform: Odin Diet, a third party software developed for desktop based trading by Financial Technologies, used by the stock broker. However, in all these years, this Platform has underwent a great deal of upgrades.
- Choice Broking Web Browser Based Trading Platform: Choice Broking went out of the usual way for this. They’ve developed an in-house trading Platform for this purpose. It includes all the premium features of the desktop based trading Platforms.
- Choice Broking Mobile App: The App is known as Choice Broking Jiffy. The App grants access to several trading research to the traders and investors. The best part about this is that it provides all of these features on the go.
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Choice Broking Trading – Conclusion
Choice Broking Trading formulates one of the biggest firms in India. It particularly has one of the largest networks of associates. Its trading Platforms provide more than sufficient services.
In short, we totally recommend using their services for all sorts of financial trading.
Open Demat Account with Choice Broking – Fill up the Form Now!
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