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Full Service Broker Depository: CDSL & NSDL
14

Choice Broking is a full-service stockbroker in India that offers a wide range of services, including trading in stocks, mutual funds, derivatives, and commodities. It offers a variety of trading platforms, including a web-based platform, a mobile app, and a desktop platform. The company also offers a variety of research and advisory services. Choice has an active client base of 2,00,440 as of May 2024.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Equity
Commodity
Currency
Futures
Options
Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charges

Free

Account Maintenance Charges

₹ 200

Plan Charges

Free

Call & Trade Charges

Free
Brokerage

Equity Delivery Brokerage

0.20%

Equity Intraday Brokerage

0.02%

Equity Futures Brokerage

0.02%

Equity Options Brokerage

₹ 25

Currency Futures Brokerage

0.02%

Currency Options Brokerage

₹ 20

Commodity Futures Brokerage

0.02%

Commodity Options Brokerage

₹ 50
Margins

Equity Delivery Margin

2x

Equity Intraday Margin

6x

Equity Futures Margin

1.3x

Equity Options Margin

1.3x

Currency Futures Margin

1.3x

Currency Options Margin

1.3x

Commodity Futures Margin

1.3x

Commodity Options Margin

1.3x
Trading Platforms Learn More

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.

Choice FinX Jiffy Web Application Investica
Pros

Advantages and Strengths of this broker.

  1. Dedicated relationship managers for personalised support.
  2. Margin trading facilities for better trading.
  3. All technical charts along with advance orders like Bracket, GTC and GTD orders are available.
  4. You can trade in all 3 segments Equity, Commodity and Currency through single application.
  5. Expert Research advisory along with Free Call and Trade facility and lowest DP charges.
  6. They provide AI based automated calls through Signal feature.
Cons

Disadvantages of this broker that it needs to improve upon.

  1. Does not offer 3-in-1 account services.
  2. No email support or chat support for query resolution.
  3. Complex interface of the application.
  4. Cover Orders are not available here.
  5. Sometimes login issues in their mobile apps faced by users due to heavy traffic.
Additional Features

Extra features provided by the broker at little or no extra cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Trading Calls
Free Research Reports
SMS Alerts
Margin Funding
Margin Against Share
Other Investment Options

Services provided by the broker for investing in other financial assets such as Mutual funds, Insurance, Bonds etc.

Mutual Funds
IPO Platform
Bonds & Debt
Exchange Traded Funds
Insurance
Finology Ratings & Reviews for Choice

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(3.5)

Usability

(3.7)

Customer Service

(3)

Charges Review

  • 0.02% percent brokerage for Intraday and 0.2% Percent brokerage on delivery trades.
  • Free call & trade, and Zero Account opening charges.
  • Zero Auto Square Off charges (if the position is squared off by Choice) etc.
  • AMC(Account Maintenance Charges) of Rs 200 every year ( 1st year AMC free).

Customer Service Review

  • Email & call support are available and as per customer reviews the support is satisfactory.
  • Expert Research capabilities as per customers were satisfactory.
  • They have physical branches present in most of the cities for local support.

Ease of Use Review

  • Their trading platforms are user friendly and provide single margin facility to trade in different segments. But, they offer numerous separate platforms based on investment instruments, and that makes it complicated for users.
  • Unavailability of a 3-in-1 account facility makes the trading process slow.
  • Order execution pace may be slow sometime during the peak trading hours.
  • Research Advisory with advance order options on application help in easy trade execution.

Account Opening Procedure Review

  • The online account opening process (for individual accounts) is easy & convenient.
  • The offline procedure, however, is very time consuming (even for individual accounts).

Why Choose Choice? Know Everything about Choice here.

Verdict

Choice is a full-service stockbroker that offers an array of trading products and research teams to promote convenient and informed investing and trading choices. Choice also provides customized services under wealth management, tax advisory, etc., while enabling trade-in equity commodity trading, IPOs, mutual funds, and more.

If you are a trader, the broker provides you with

  • An ultrafast & user-friendly trading platform that can help reduce the risk of errors when placing trades.

  • Expert research on apps for cash, intraday, and derivatives trading.

  • Advanced order categories like cover order, good till canceled order, etc.

  • Research-backed advisory and regular news alerts.

  • Thorough technical charts and daily stock pick ideas to discover new opportunities.

If you are an investor, the broker provides you with

  • Low depository charges (Rs 10 only) and low brokerage for users

  • Expert Fundamental research advisory on the app for long-term and short-term investors

  • Zero Account opening charges and Free AMC for the First year

  • Highly skilled Relationship managers who help in solving all queries of the investors and make their investing journey fruitful.

  • Investment options are available across almost all asset classes.

Trading Tools

With an array of services under wealth management, tax advisory, etc., customized as per the users, Choice also offers multiple technically advanced trading tools to make the trading experience efficient. Some of them are:

Choice FinX (Formerly Jiffy)

Designed to ease day-to-day finance, Choice FinX offers its clientele with solutions in the domains of the Stock market, Insurance, FD, etc. Its technologically advanced features vary based on the different investment categories, with the amenity of multiple finance instruments and ease of tracking them. Some major features of Choice FinX are as follows:

  • Technical, fundamental, and IPO Reports via expert research advisory,
  • Signal feature for trading calls with customizable strategies,
  • Stratezy tool for automated trading, making strategies, and backtesting,
  • Basket feature comprising lists of top stocks analyzed by experts.

Jiffy Web Trading Application

This online trading website can be accessed from any device using a web browser. It offers many key features, including the following:

  • Seamless navigation, making it convenient for beginners,
  • Customisable watchlists of stocks,
  • Access to a user-friendly online brokerage calculator,
  • Current insights into various exchanges and indices,
  • Dedicated research section for a better experience,
  • Convenient options for easy transfer of funds.

Investica - Mutual Fund Investment App

One of the oldest Mutual Fund Investment platforms in India, Investica’s Mutual Fund Investment App is designed by Choice Broking to ease investments and tracking. With multiple categories of mutual funds to invest in, Investica offers the following features: 

  • User-friendly interface and account security via user-explicit IDs,
  • Secure client transactions,
  • Regular updates and notifications for hassle-free and timely investment,
  • Recommendations based on goal-based mutual fund schemes,
  • Expert analysts’ support for calculating returns and choosing suitable mutual funds.

Charges Details

For Equity

CHARGES

DELIVERY

INTRADAY

FUTURES

OPTIONS

Transaction Charges

0.00345% - NSE

0.00345% - BSE

0.00345% - NSE

0.00345% - BSE

0.002% - NSE

0.053% - NSE

Demat Transaction Charges 

Sell-side, ₹ 10 per scrip 

-

-

-

Clearing Charges

₹ 0.01 per trade

₹ 0.01 per trade

0.0005% - NSE

0.05% - NSE

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

STT

0.1% on buy & sell

0.025% Sell-side

0.01% Sell-side

0.05% Sell-side

Options Exercise 0.125% on (Settlement Price * Quantity)

SEBI Charges

₹ 10 per crore

₹ 10 per crore

₹ 10 per crore

₹ 10 per crore

For Commodity

CHARGES

FUTURES

OPTIONS

Transaction Charges

0.0026% Non-Agri

0.00175% Agri Commodity

-

Clearing Charges 0.0003%  

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

CTT

Sell-side, 0.01% - Non Agri 

Sell-side, 0.05%

Options Exercise 0.125% on (Settlement Price * Quantity)

SEBI Charges

₹ 10 per crore (Non-Agri Commodity)

₹ 1 per crore (Agri Commodity)

₹ 10 per crore (Non-Agri Commodity)

₹ 1 per crore (Agri Commodity)

For Currency

CHARGES

FUTURES

OPTIONS

Transaction Charges

0.0009% - NSE
 

0.04% - NSE
 

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

STT

-

-

SEBI Charges

₹ 10 per crore

₹ 10 per crore

Choice Complaints & Stats

Company name:

Choice Equity Broking Private Limited

Contact:

8824242424

Email:

customercare@choiceindia.com

Active Users:

2,00,440
Choice Customer Reviews

Overall Rating

5

Based on 1 reviews

Rating Summary

5
100%
4
0%
3
0%
2
0%
1
0%

Review Analytics

Platform 0 votes

Charges 0 votes

Transparency 0 votes

Features 0 votes

Customer Support 0 votes

avijit saha

(5)

Posted on 12 Jun 2022

very helpfull broker