Samco is one of the newest stock brokers in India, and it was launched in 2015. This Mumbai-based discount brokerage firm provides its customers to invest or trade in stocks, derivatives, equity, currency, commodity, mutual funds, and even in an initial public offering. The key USPs of this discount broker are its low broking charges, interesting margin products, and multiple resource-rich trading platforms.
It is also known for its unique StockBasket tool that will help you invest your money in experts’ selected stocks that they select after comparing more than 25 stock rating parameters. The great thing about Samco is that it offers about 60% savings on commission if the customers are directly coming from traditional stock brokers like ICICI Direct and Sharekhan.
Samco is a SEBI-registered stock brokerage firm and a member of various exchanges, including NSE, BSE, NCDEX, and MCX. It has CDSL membership and provides NBFC facilities like margin funding and long-against shares. This stock broker has a simple and unique brokerage model that we will discuss in this article. We will also discuss a comprehensive Samco review to understand its benefits, stock trading platform, and other aspects.
What are the USPs of Samco?
Samco is one of the newest stock brokers in India and has gained a significant customer base within a few years just because of its following USPs.
- It offers a free Demat and trading account opening facility.
- The brokerage firm provides a margin against equity without requiring a cash balance.
- There is no Demat account maintenance fee for the first year.
- The firm gives 100% cash back on the brokerage you pay in the first month.
- The platform has launched the StockBasket tool for retail investors.
Samco Account Opening Charges
- It does not charge any fee or additional charges for opening Demat and trading accounts.
- The platform does not charge any Demat account maintenance charge in the first year.
- There are no trading AMC charges, but you need to pay the Demat AMC charge from the second year, and it’s Rs 400+18% GST per annum.
Samco Brokerage Charges
- Samco charges Rs 20 for each executed trade or 0.50% on equity delivery trades.
- The platform charges Rs 20 for every trade or 0.05% on equity intraday, equity future, and equity options.
- It levies Rs 20 for every conducted trade or 0.05% on currency futures, currency options, commodity futures, and commodity option trades.
Samco Stock Trading Platforms
Samco has developed many trading tools and platforms for its customers. Below we have given brief details about its stock trading platforms that you can use for trading and investing purposes.
1. Samco Trader
This terminal-based stock trading platform is developed by Samco to help its investors perform high-frequency trades. It’s an installable tool and works on desktop computers and laptops. You can use this trading terminal for the market watch, fund transfer, cover orders, and snap quotes.
2. Samco Web Express
It’s a browser-based trading platform that doesn’t require downloads or installs. You can create your account and access its stock trading or investing features. The platform works efficiently and delivers a super fast trading experience.
3. Samco App
Samco App is a mobile app available for mobile investors to have fast and safe trading or investing experience in the Indian stock market. It allows its users to participate in BSE, NSE, and MCX. The app also provides real-time market insights, news, and charting features.
4. Nest Trader
It’s an installable trading terminal that ensures a high-speed, safe, and user-friendly trading experience for Samco users. This platform is ideal for those investors willing to conduct high-volume trades.
5. Rank MF
This platform is designed and developed by Samco for mutual fund investors. The platform is available in mobile and web versions and gives data and feature-rich mutual fund investing experience. You can easily find promising mutual funds, compare them, and invest your money to attain financial goals.
It’s another platform provided by Samco to help investors and traders understand where they should invest their money. You can use this platform to get real-time trading ideas and compare them based on their risk factors and possible returns.
How to Open a Demat Account with Samco?
If you want to open your Demat account with Samco, follow the below-mentioned steps.
- Visit the official website of Samco and click on the “Open an Account” option.
- You will be asked to complete account registration with the Samco stock trading platform.
- Add basic details asked in the form and complete the registration process.
- During the registration process, you will also get an OTP to verify the details.
- Now, upload the required documents to complete the KYC process.
- Once you upload asked documents in digitally scanned copies, cross-check the details.
- You will be required to digitally sign the application form with this discount broker.
- So, click on the link and get redirected to the UIDAI Aadhaar portal to verify your account details with mobile OTP.
If you have filled out the form correctly and finished all the required steps, your account will get opened within 24 hours.
Advantages of Samco
There are many reasons and benefits to using Samco’s broking services. We have mentioned some primary benefits you may see if you use its stock trading and investing services.
- It charges Rs 20 flat brokerage on all segment trades for NSE, BSE, and MCX.
- Samco provides its customers with interesting margin products.
- The account opening process is 100% digital and paperless.
- It does not charge any Demat account maintenance charge in the first year.
- The research and recommendation feature is free and very useful.
- It also has offered many stock trading tools for its customers.
Disadvantages of Samco
There are some disadvantages of Samco that are mentioned below. Before using this stock trading platform, know some cons of the Samco trading platform.
- It charges Rs 20 per trade on equity delivery, free on other discount brokerage platforms.
- The annual Demat account maintenance charge is high as you need to pay Rs 400+18% GST per year.
- You don’t get any unlimited trading plan with this stock trading platform.
- It charges Rs 20 for each trade extra on call & trade facility.
- You can access only one Samco platform at a time.
- It only has regular plans for mutual fund investment.
- The pledge, closure, and invocation Demat charges are very high.
- There is no trading plan or facility for NRI investors.
Samco is one of the newest discount brokerage firms in India and offers its top-quality stock trading and investing facilities at low brokerage charges. This discount broker is suitable for new and experienced traders willing to invest their money in the Indian stock market at low brokerage charges.