Angel Broking Review
Whenever it comes to choose one of the top full-service brokers in India, Angel Broking comes at the top. Earlier known as Angel Broking, today it is known by the name of Angel Broking Limited.
The broking company was founded in 1987, Angel Broking offers an extended array of trading and investment products including stock and commodity broking, investment advisory services, margin funding, loans against shares, and financial products distribution.
In today’s flat brokerage landscape, the full-service broker has managed to secure a promising position in the market. It offers excellent value for money to its clients through its diverse offerings. Along with low brokerage rates, other benefits with Angel Broking are free research tips, and excellent offline support to traders and investors etc.
In the month of April year, Angel Broking relaunched its brokerage plans to gain a competitive edge against the discount stock brokers like Zerodha and Upstox. Angel Broking now boasts of flat rate brokerage plan ‘Angel iTrade’. This plan offers to trade at flat Rs 15 per trade for order size less than Rs 50,000 and Rs 30 per trade for order size higher than Rs 50,000. The same easy charge pattern is applicable across exchanges and segments.
Angel Broking is an active participant with CDSL and is a member of Bombay Stock Exchange (BSE), National Stock Exchange (NSE), National Commodity & Derivatives Exchange Limited (NCDEX) and Multi Commodity Exchange of India Limited (MCX).
The leading broking house is known to have more than 11,500 sub-brokers and franchise touchpoints across 900+ locations in India. It claims to have over 1 million clients till date. If you’re living Tire 1, 2 or 3 cities, finding Angel Broking outlet is quite common.
The most beneficial part of Angel Broking is its awesome investment advisory. In fact, it is the first full-service broking firm that offers discount brokerage services to its clients.
Angel ARQ is the firm’s flagship investment advisory tool. It is basically a rule-based investment engine (robot) that suggests investment idea to the customers. ARQ offers commendations for Equity Stocks and Mutual Funds. It makes the use of advanced technologies such as Expert Insights, Machine Learning, Cognitive Algorithms and Teraflops of processing power.
ARQ is integrated into the trading software provided by Angel. ARQ is just an advisory tool. It doesn’t feature any charges or minimum investment promises. It is up to the customer to follow ARQ advice.
Angel Broking’s major financial services include:
- Commodity Trading
- Currency Trading
- Life Insurance
- Portfolio Management Services (PMS)
- Mutual Funds
- Loan Against Shares
The broking firm always tends to leverage technology to ensure a smoother and faster trading experience for its clients. Its diverse range of trading platforms like Angel Broking Trade and Angel Speed Pro is a testament to it.
Note: Angel Broking has recently announced that the firm is planning to bring an Initial Public Offering (IPO) with a range of Rs. 600 crore in next few months.
Its membership details are given below.
Process to Open an account at Angel Broking
Opening an account with Angel Broking is the step to bring trading or investment. If you are planning to invest or trade in stocks, commodities or currency, all you need is a trading account. If you are planning to invest in equity (hold the shares you are buying for few days or month), IPO or Mutual, you should open an Angel Broking Demat Account.
There are primarily two ways to open an account at Angel Broking.
- Online Account Opening (through Digital KYC)
Angel Broking provides 1-hour account opening process though its online DKYC (Digital Know your Customer) process. This is the quickest way to open trading and demat account.
You just need to visit Angel Broking website and click on ‘Open an Account’ button to open an online trading account.
- Visit Angel Branch Office or Sub-broker
Another option to open an account with Angel Broking is to visit their branch office or office of a sub-broker, visit them or give them a phone call. They will fix a personal visit to open an account for you. This is simplest way to open an account with Angel Broking. As they has largest network of offices across the country, it won’t take long to get ready for trading
Angel Broking Account Opening Status
To check the account opening status, you can choose to call your sales representative who assisted you with filling the form or visit local Angel Broking branch.
Angel Broking Account Opening Forms
Angel Broking demat account opening form pdfs are not available online. Please contact the sales advisor of Angel Broking or visit local branch to receive the account opening forms.
Following supporting documents are required to open individual trading & demat account with Angel Broking:
- Proof of Identity (POI) (Driving license)
- Proof of Address (POA) (Passport)
- Proof of Income (For trading in derivatives such as F&O) (Copy of ITR Acknowledgement)
- Proof of Bank Account (Cancelled cheque)
- PAN Card
- 1 to 3 passport size photographs
Angel Broking Trading Platforms
As it is already mentioned that the broking firm leverages technology to enhance the trading experience of its clients, it offers a range of trading platforms for Desktop, Browser and Mobile to meet the diverse trading needs of clients. Let’s get to know the firm’s leading trading platforms.
Angel Broking Trade
Basically, an extension of the previous browser-based trading platform ‘Angel Eye’, Angel Broking Trade has been in the market for a while now. For users, there is no need for installation as they can easily perform trade on their browser. Some of the major benefits of this platform are:
- Monitor investments across all asset categories and for your entire family under one place
- Get access to the latest market statistics, news
- Easy to use & smart navigation with custom authentication for enhanced security
- Multiple exchanges, hi-speed trading platform with streaming quotes
- Manage your investments, create watch lists, track stocks with technical chart indicators, and make scheduled investments
- Invest in Equities, Commodities, Currency, Mutual Funds, Bonds, and in Initial Public offerings (IPO) using this single platform
- Analyze stocks like an expert with state-of-the-art stock screener and interactive charts
Angel Speed Pro
Angel Speed Pro is a terminal-based trading software provided by the full-service broker. A user needs to download and install the software on his laptop or desktop. The software provides the clients with a single window trading experience along with trade monitoring capabilities. Some of its major features are:
- Keep the market on your finger-tips with live streaming rates. Get the power and speed of instant trade execution and reports
- View Scrip-wise buy price, day’s gain / loss and overall profit / loss to check your holding portfolio at a glance
- Invest or redeem Mutual Funds anytime with ease & use this trading software feasibly
- Integrated news flash and research reports
- 30-day intraday and 20 years historical data with over 70 studies for next-level technical analysis
Angel Broking Mobile App
The Angel Broking mobile application enables a platform for its clients’ trading and investment needs and is powered by ARQ, a rule-based investment engine. It is a comprehensive mobile trading app that provides latest news, reports, and real time updates now at fingertips.
The app has some of the most innovative features that guarantee high-speed trading without any glitches. The app has been awarded the ‘Best Mobile Trading App’ award at the Global Marketing Excellence Awards in 2016.
“ARQ” was awarded the ‘Launch of the Year’ award and the ‘Award for Technology Effectiveness’ award at the Global Marketing Excellence Awards in 2016.
Its major features include:
- Live streaming prices
- Intraday charts with indicators
- ARQ – Customized advisory services
- Payment integration with 40+ banks
- Personalized alerts for trades and ideas
Some concerns with the app are:
- Connectivity lags in smaller cities
- Scope for user experience improvement
- Limited number of features
Angel Bee is actually an investment management mobile app. The app allows users to define their investment goals, suggests you equity and MF based on ARQ – the advisory engine provided by Angle Broking.
Some of the features of Angel Bee are:
- Display your current holdings and placements across diverse financial products
- Enables users to open a Big Savings Account which possibly delivers higher returns in comparison to a Standard Savings Account
- Features a sleek look, the app is best for beginners too
Angel Broking Customer Care
Angel Broking offers customer services to its clients through following communication channels:
- Online Customer Service Center
- Offline Branches (Sub-brokers and Franchise offices)
The customer service provided by Angel Broking is below far. Be it customer resolution, communication flow, service quality, the full-service broker lacks the edge. This is one section that needs lots of improvement on all fronts.
It is very necessary for Angel Broking customer service team to make sure their offerings live up to the brand they want to create for their clients.
Angel Broking Pricing
As Angel Broking is a full-service broker, it levies a percentage-based commission to its clients. This essentially refers that basis the specific percentage of the trade value, the actual brokerage is decided for the clients to pay.
Angel Broking primarily boasts of 4 different brokerage plans. A client can choose a plan basis the initial capital he or she is expected to bring in.
Angel Broking iTrade
Launched in April 2019, Angel Broking has a flat-rate brokerage plan for its clients. Under this plan, a trader or investor can choose to receive all the benefits including customer support, research, offline support while depositing a fixed broking cost.
Contrary to other brokerage plans, Angel Broking iTrade has no percentage-based commission charges.
However, there are two points that fix the brokerage:
- If order size is Rs. 50,000 or less, there will be a flat brokerage charge of Rs. 15
- If order size is above Rs. 50,000, the brokerage charges will be Rs. 30
There is no limited on the initial deposit. Even, you can open a 0-deposit demat account under this scheme.
Angel Broking Transaction Charges
Demat Account Charges
Angel Broking Margins
The exposure or margin details of Beeline is given below.
|Trading Segment||Margin Angel Broking|
|Equity Delivery||Upto 3x with 24% interest per year|
|Equity Intraday||Upto 10x|
|Equity Future||Upto 4x|
|Equity Options||3x for shorting|
|Currency Future||Upto 2x|
|Currency Options||Upto 5x for shorting|
Online IPO is one of the biggest features of Angel Broking. Online IPO provides clients the option to easily apply for the IPO shares without any documentation. Combined with over 20 banks, the online IPO offers ability to apply, modify and cancel IPO anytime when the IPO shares available for bidding.
Angel Broking clients can submit their application for IPO shares in 2 ways:
- Online IPO Application (Website or Mobile App)
Angel Broking customers can apply for IPO shares online though its trading website or its mobile trading app. Online IPO Application is simple, easy and quick way of applying in IPO’s at BSE and NSE. It takes not more than 1 minute to apply in IPO online. The online IPO application can be changed or cancelled (when the IPO bidding is open) in just 1 click.
- Offline IPO Application (Visit Angel Broking Branch)
The broker’s clients can choose to visit any branch office and apply in an IPO. Customer applying offline in the branch has to submit a ASBA application form and provide information like Bank Account Information, PAN Number and Demat account information.
After successfully applying in an IPO, customer receives an recognition slip with a reference number.
Angel Broking Fund Transfer
There are 4 ways for Angel Broking’s clients to transfer funds from their bank accounts to their trading accounts. These options are:
There is an option to transfer funds to your trading account using any of the trading platforms such as Angel Broking Web, Angel Broking Mobile App or Angel Speed Pro. Using these softwares, it is possible to transfer funds from more than 40 banks in India using the given payment gateways.
Keep in mind, there is a small fee linked when you use payment gateways for fund transfer.
Angel Broking Back Office
Apart from the trading platforms, the back office can also be contacted to transfer your funds into your trading account with the broker.
There are numerous options to choose from such as NEFT, RTGS and IMPS. While the first two options are free to use, IMPS may come up with some charges when you transfer funds.
Clients can also prepare a Demand draft along with the necessary documents to complete funds’ transfer process. This option is free to use.
You can drop a cheque from any of your associated bank accounts with the broker. However, this process takes few business days for the funds to get transferred. Certainly, cheque deposit carries no transfer fee associated.
In the field of full-fledged broking, Angel Broking is certainly a leader. Since its inception, the full-service broker has showed its strong inclination towards technology and brokerage, still there are various areas where it needs to pay more focus especially the customer care department. This is one area that demands urgent attention of the broking firm.
Apart from this, Angel Broking is pretty much good for its clients when it comes to get all-inclusive broking services under one roof.