Canmoney Review, Brokerage Charges, Demat a/c, Platforms & more

Canmoney is famous stockbroking and trade advisory service offering, having a pan India presence. The stock-broking firm has enormous expertise in offering trade services to the company’s partners as well as general clients. The article very well covers all the relevant information about Canara Bank Securities, its brokerage plans, and trading platforms.

Canmoney- An overview

Canmoney is one of India’s largest full-service brokerage firm that boasts of the pan Indian client base. The company is a public enterprise, headquartered in Mumbai, founded back in the year 2009 by Mr. PS Jayakumar. The company offers phenomenal broking services, at minimum possible charges to its clients.

Canmoney Brokerage Charges

Canmoney’s brokerage plans are flexible and have been designed keeping in mind the needs of low-capital investors. The company’s tailormade brokerage plans provide a sense of satisfaction and relief to its customers.

Below is a table having the list of brokerages levied for the company’s services.

Equity Delivery Trading Charges 0.40%
Equity Intraday Trading Charges 0.04%
Commodity Options Trading Charges 0.04%
Equity Futures Trading Charges 0.04%
Equity Options Trading Charges  Rs.60 per Lot
Currency Futures Trading Charges 0.04%
Currency Options Trading Charges Rs.40 per Lot
Minimum Brokerage Charges Depending on percentage of transaction
AMC Demat Charges Rs.500 per Annum
AMC Trading Charges Free
Minimum Margin Money Limit Rs.25,000 (Minimum)

 

Canmoney levies a brokerage of 0.40% for equity delivery services. A brokerage of 0.04% is charged against the services of commodity options trading, equity intraday trading, currency futures trading, and equity futures trading.

The brokerage house charges a brokerage of Rs. 40 per lot for currency options trading and Rs. 60 for trading in equity futures. The maintenance charges for the Demat account are fixed at Rs.500 per annum, while there are no such charges for trading accounts. Besides this, the brokerage firm charges a minimum amount of Rs. 25,000 as margin money that acts as a guarantee.

Canara Bank Securities Other Type of Charges

Transaction Charges levied 0.00325%
STT Charges 0.0126% of Total Turnover
SEBI Turnover Dependent Charges 0.0002% of Total Turnover
Stamp Duty Charges Varies from state to state (very minimal)
GST Charges 18% of (Brokerage + Transaction Charges)

 

Canmoney, apart from straight brokerages levies certain other charges including transaction, STT, SEBI Turnover, GST, and stamp duty charges. Transaction charges are fixed at 0.0325% whereas the STT charges are levied as 0.0126% of the total turnover. Canmoney’s SEBI turnover charges are 0.0002% of the total turnover. The stamp duty charges are minimal in nature and vary from state to state.

These charges have been figured such that they don’t reduce the entire earnings of the trader.

Canmoney Demat Account Opening Charges

Canmoney Depository Sources CDSL & NSDL
Account Opening Costs Rs.350
AMC Demat Charges Rs.500 per Annum
AMC Trading Charges Free
Margin Money Limit Rs.25,000 Minimum
Offline to Online Service Yes

 

Traders can open their Demat account with the brokerage firm without facing any difficulty. Canmoney charges an amount of Rs. 350 as Demat account opening fees whereas traders can open their trading account for free with the company. The broker has an AMC of Rs. 500 for Demat accounts, with absolutely zero AMC for trading accounts. Canmoney has a minimum of Rs. 25,000 as margin for its traders. Traders also get flexibility in offline to online trading services.

Canmoney Customer Offers-

Canmoney provides some awesome and lucrative offers to traders.

  • Canmoney provides its traders a free trading account facility.
  • The company from time to time brings exciting holiday offers to its traders.
  • Customers can choose from a wide variety of flexible brokerage plans available.

Canmoney Demat account opening procedure

The Demat account opening procedure for Canmoney is extremely easy and involves minimum possible procedural works. The account opening procedure is as follows-

  • First, you need to fill the Demat account opening form available on the website with relevant information.
  • After you’ve filled the form, you need to submit the form by tapping the submit button.
  • Sometime after form submission, you’ll receive a call from Canmoney’s customer care executives for confirmation.
  • You’ll then have to submit the necessary documents for completing the KYC procedure.
  • After the document verification, traders will be handed over their trading account, allowing seamless trade facility and other awesome features.

Exclusive features of Canara Bank Securities Trading Account

Demat account is necessary for trading money, shares, and other commodities. A Demat account acts as a safe repository for all your shares. Traders will have the following advantages after opening a Canmoney trading account-

  • A free trading account facility for users.
  • Zero annual maintenance charges levied for trading accounts.
  • The brokerage firm provides customers a flexible trading experience.

Canmoney Platform presence

Canmoney takes care of its clients and provides them with an awesome multi-platform presence. The diverse platform presence ensures that traders can trade seamlessly without worrying about the time place.

Canmoney Web-based trading platform

Canmoney provides a flexible and convenient trading platform for the trader’s smooth trading experience. Their web-based trading platform is accessible from Firefox, Chrome, and all other prominent web browsers. Traders simply need to visit the website, log in with their credentials, and begin trading. Some awesome features of the web trading platform are-

  • Traders get customized stock recommendations and quality research services with the platform.
  • The trading platform works well even with basic internet speed.

Canmoney Mobile Trading App

Canmoney mobile trading application provides an awesome interface to traders. It provides a convenient way for traders by offering the facility of trading currencies, shares, and money. The application offers amazing charting and suggestions facility based on the trader’s past records. Some awesome features of the application are-

  • The app has a section that helps you keep a track record of stocks and trades.
  • Users have the luxury of calling the manager directly for the resolution of an issue.
  • The application also makes available to users’ various type of trade-related reports such as ledge, derivatives, and other trade-related details.
  • The mobile application publishes the price-related details of various commodities under the sections of index watch, metal watch, stock news, etc.

Canmoney Trading Terminal

Canmoney also provides traders with an awesome exe-based trading terminal. The trading terminal can be installed, downloaded on mobile, laptops, and computers. The terminal runs smoothly on all the aforementioned platforms. Some features of the trading terminal are-

  • Asset transfer facility across various banks.
  • Consolidated information of all the stock exchanges in a single window.
  • The trading platform also offers considerable speed and trading performance to traders.

Canmoney Bank Conclusion

Canmoney provides the best possible trading services to its clients at minimum possible brokerage charges. Traders looking for the best services, stock recommendations, and proper trade assistance, can surely enroll with Canmoney.

FAQs

Ques- Does Canmoney offer an installable trading terminal facility?

Answer- Yes, Canmoney offers its traders with the installable trading terminal facility.

Ques-Does Canmoney offer 3 in 1 trading account facility?

Answer- Yes Canmoney offers its traders 3 in 1 trading account facility.

Ques-What are some salient features of Canmoney’s trading account?

Answer- Zero AMC and free of cost trading facility are some salient features of Canmoney’s trading account.

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