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Angel Broking review
Learn the ins and outs of trading with one of India's leading retail brokers.
Angel Broking is an Indian stockbroker offering a host of trading and advisory services. The technology-led company is headquartered in Mumbai has a wide network across India that stretches over more than 18,000 PIN codes.
In this review, we take you through Angel Broking’s key trading services for retail investors, including some of the fees and features you should be aware of.
What services does Angel Broking offer?
Being a full-service retail broker, Angel Broking’s products and services are wide-ranging and include:
- Currency trading
- Initial Public Offering (IPO) account
- Loans against shares
- Corporate bonds
- Gold bonds
- Insurances, such as life and medical cover
Angel Broking features
- Introductory offer. Set up a demat account and enjoy zero brokerage fees on all segments in your first 30 days. At the time of writing, this offer was due to end on 31 May 2021. T&C apply.
- Quick sign up process. It may take just an hour to start trading with Angel Broking and as little as five minutes to open an account.
- Make transfers with ease. With Angel Broking, you’ll get a virtual transfer facility that means you can effortlessly transfer funds from your bank. You can transfer funds from more than 40 banks across India (there’s a small fee if you use payment gateways to make fund transfers).
- Broking app. The Android- and iOS-friendly app works as a multi-purpose platform where you can trade on equity and commodity markets, receive news alerts, reports and other relevant updates in real-time.
- Expert advisory services. Take advantage of suggestions on where to invest and which stocks you may want to trade thanks to daily tips. Elsewhere, utilise a range of tutorials including videos and podcasts. Plus, there’s even an AI-based robo-advisory tool to help you with stock recommendations.
- Customer services. With Angel Broking, you have four support options to choose from: email, phone, a customer service hub online and branches you can visit in-person.
What are some of Angel Broking’s trading fees?
Trading fees are fees associated with buying and selling financial products. These fees often include commissions, spreads, and currency conversion fees.
Rather than charging on a percentage basis of total trade values, Angel Broking adopts a flat-fee brokerage model.
Here’s a general (but not exhaustive) list of Angel Broking’s typical fee structure:
- Equity delivery trades – zero fees (indefinitely)
- Currency futures – ₹20 per trade or 0.25% (whichever is lower)
- Equity futures – ₹20 per trade or 0.25% (whichever is lower)
- Equity options – ₹20 per trade or 0.25% (whichever is lower)
- Commodity futures – ₹20 per trade or 0.25% (whichever is lower)
- Commodity options – ₹20 per trade or 0.25% (whichever is lower)
- Intraday equity – ₹20 per trade or 0.25% (whichever is lower)
- Currency options – ₹20 per trade or 0.25% (whichever is lower)
We suggest you reach out directly to Angel Broking’s customer support team to understand how much you could end up paying depending on your account type and how you plan to trade or invest.
These fees are some of the costs linked to your account and/or its activities:
- Set-up fee: It’s free to open a trading account.
- Account maintenance charge: Zero in your first year. Thereafter, account charges of ₹100 (+GST) per year apply for basic services demat account (BSDA) clients with holding value between ₹50,000 to ₹2,00,000. This is waived if your holding value is less than ₹50,000. For holding value exceeding ₹2,00,000 or non-BSDA clients, account charges of ₹20 (+GST) per month apply.
Costs will vary depending on how you use your account. Examples of charges include credit charges, rejected instruction charges and delayed payment fees.
Pros and cons
- User-friendly, advanced trading platforms
- Simple and transparent fees structure
- Excellent research and advisory services
- There’s currently no linkable, 3-in-1 demat account
- Extra fees apply for trades that are made offline (₹20 per trade)
Is Angel Broking safe?
Angel Broking is a long-established Indian broker with more than two decades’ industry experience. The company is a depository participant with Central Depository Services Ltd (CDSL) and is a member of a number of India’s major stock exchanges including the National Stock Exchange of India (NSE) and the BSE (formerly known as Bombay Stock Exchange).
Note: Investing and trading itself always carries risks which you should be aware of, so read up before you start investing. Do your research and compare brokers in India before signing up with any trading platform.
How do I sign up for an account?
These are the general steps you’ll go through when signing up for a demat account with Angel Broking online:
- Visit Angel Broking’s website and fill out a lead form.
- A one-time password will be sent to your linked phone.
- You’ll have to complete an application form and personal details you must add will include your date of birth, PAN details, email address and bank account details.
- If you pass Angel Broking’s verification process, details of your demat account will be sent to your registered mail address. You will also be given the Unique Identification Number for your account.
You may also sign up for Angel Broking offline should you prefer.
Angel Broking makes it easy to open a broking account and the hassle-free and paperless process that may be completed within an hour, assuming you’ve got all the necessary documents to hand. It’s important to think carefully about your goals and individual preferences when it comes to investing and to clarify any queries with Angel Broking prior to signing up for an account.
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