Samco Securities (formerly known as Samruddhi Tradecom India Limited) is one of the leading discount brokers having a stronghold in the Indian capital market. It came into inception in March 2015 and headquartered in Mumbai. In the same year, it became execution broker for Indian Trading League, which is India’s only stocks and commodity investment and trading league. It is an online broker and has its active client base of over 38,000. Samco Securities allows its investors to trade across multiple financial segments including stocks, commodities, debentures, ETFs, listed bonds, etc. Samco’s non-banking financial segment also provides loan against shares, margin funding, and offers depository services through CDSL. It is a member of all leading stock exchanges in India including NSE, BSE, MCX, MCX-NX and NCDEX. In February 2016, Samco Securities launched its margin funding facility with its “Cashplus” products.
Why Samco Securities:
- Low brokerage charges of flat Rs 20 per trade.
- High margin exposure across segments.
- Key offerings including margin products such as CashPlus, StockPlus and IntraPlus.
- NRI trading provision.
- Free trading and Demat account opening.
Samco Trading Platforms:
Samco Securities provides many trading platforms for its users, but quality-wise there are few concerns and compromises, the biggest being irregular update frequency.
- Samco Nest Trader (Omnisys Nest): It is a desktop-based trading terminal, installable on the desktop. The NEST software is provided Omnisys and is offered by many other brokers. Best suited for heavy traders. Key features include:
- Snap Quote trading feature.
- Customized market watch list.
- Instant fund transfers.
- Stable and user-friendly with set alerts.
- Cover order, bracket order, aftermarket order.
- News and notifications.
- Samco StockNote: It is a free online mobile trading app from Samco powered by Giga Trading Engine. Best suited for beginners as well as professional users. It has encountered some concerns like irregular updates and slow speed during high traffic. Key features include:
- Customized market watch list.
- Real-time streaming quotes.
- Trade across all segments with a single sign-in.
- Highly secure, quick and fast.
- Advanced and intra-day charts, portfolio tracker.
- Samco Web Xpress: It is a browser-based trading platform, which can be accessed through any web browser from desktops and tablets. Best suited for the active trader. Key features include:
- Advanced order types like cover order and bracket order.
- Fast execution of order with real-time monitoring.
- Can trade in segments Equity, Derivatives, Currency across BSE, NSE exchanges.
- Advanced intraday and historic charts with 60+ indicators, buy/sell from charts directly.
- In and out fund transfers
- Samco Star (Back Office): It is a back-office website from Samco. It can be used for:
- Analysing trades.
- Check holding, pledge/unpledged holdings.
- Withdrawing and managing funds.
- Check account statements.
- Samco Call & Trade: Traders who do not prefer online trading and call on to the helpline desk and place orders for an additional cost of Rs 20 per executed order.
Samco Account Opening Charges:
- Trading Account Opening Charge (one time): 0
- Demat Account Opening Charge (one time): 0
- Trading Annual maintenance charge (AMC): 0
- Demat Account Annual Maintenance Charges (AMC): Rs 400
Samco Brokerage Charges:
|Equity Delivery||Rs 20 per trade or 0.2%, whichever is lower|
|Equity Intraday||Rs 20 per trade or 0.02%, whichever is lower|
|Equity Futures||Rs 20 per trade or 0.02%, whichever is lower|
|Equity Options||Rs 20 per trade or 0.02%, whichever is lower|
|Currency Futures||Rs 20 per trade or 0.02%, whichever is lower|
|Currency Options||Rs 20 per trade or 0.02%, whichever is lower|
|Commodity||Rs 20 per trade or 0.02%, whichever is lower|
Samco Leverage Charges:
|Margin Delivery (Cash)||1x|
|Margin Intraday||3x to 15x. For CO and BO, leverage is up to 33x|
|Margin Equity Future Intraday||MIS positions for the following|
|· Equity Futures||50% of the normal margin|
|· Index Futures||40% of the normal margin|
|· Cover Order||up to 33x|
|· Bracket Order||up to 33x|
|Margin Currency Future Intraday|
|· Currency Futures||50% of the normal margin|
|· Cover Order||Up to 100x|
|· Bracket Order||Up to 100x|
|Samco Margin Options||No margin for buying options|
Samco Leverage Products:
For extra margin, Samco offers the following products for its clients:
- CashPlus: By paying Rs 1000 yearly, clients can avail up to 4x extra leverage in Equity Delivery segment on 300+ stocks listed in the stock market. An interest rate of 0.05% per day is charged on the outstanding amount for delayed payment. Availing such financial leverages does magnify the client’s profits and losses, but at the same time does expose client’s capital to substantial risk.
- StockPlus: With this, clients can trade in shares even if the trading account balance is zero. They get margin against shares in Equity Derivatives and Currency derivatives segments (also in Cash Market via CO and BO) and it is best suited for intraday and positional trades. Clients can pledge against the value of their holdings and initiate a trade with margins, even if cash available is zero. To avail this product, clients have to pay Rs 1500 yearly and an additional Rs 60 for pledging and un-pledging shares.
- IntraPlus: It provides margin against shares for Intraday trading in Equities and Derivatives segments. Clients can trade in against their shareholdings even if the trading account balance is zero. Subscription charge for this is Rs 1000 yearly.
- It is one of the cheapest discount brokers charging flat Rs 20 per executed order.
- Exhaustive margin and leverage products offered in different trading segments.
- Equity intraday trading with 15x margin in over 500+ stocks.
- Cover order and bracket order get up to 33x margin and available to manage risk.
- No account opening charges (both trading and Demat).
- Paperless account opening.
- Trading platforms, especially the mobile app, needs improvisation.
- Security concerns raised.
- Mutual funds and IPOs investing not possible.
- Heavy traders go disappointed as no fixed monthly or yearly plans offered.
Samco is one of the cheapest discount broker firms, offering high leverage and an exhaustive list of margin products for its clients to choose from. Concerns have been raised in regard to low-performing trading platforms (especially the mobile app), irregular update frequency, below-average customer support and transparency. Samco is the best-suited stock broker for beginners as it provides an exhaustive treasury of tutorials (both basic and intermediate) for traders and investors. Beginners can also go for it as it offers low brokerage charges, hence low chances of risk. Traders who are looking for low brokerage charges with high exposures can consider Samco, of course depending on their preferences and risk appetite.