GCL Securities Review & Brokerage Charges

GCL Securities is a financial service provider. It was incorporated in 2004 and is a Jaipur, Rajasthan-based full-service stockbroker. It is famous for its commodity trading services in Northern India. It offers a wide range of financial services that include online trading and investment in:

  • Equity,
  • Derivatives,
  • Currency,
  • Commodities
  • and Mutual Funds.

The firm also offers wealth management and Portfolio management services, has a depository membership with CDSL and is a member of NSE, BSE, MCX and NCDEX.

With over seven branch offices, around 100 employees and multiple franchises across the country, the firm offers customer support through Whatsapp. The exclusivity of the company is:

  • It has vast experience in providing commodity solutions.
  • Free fundamental research on commodities.
  • Providing hedge solutions.
  • Availability of physical delivery and commodity procurement.
  •  ODIN online trading platform.
  • One-month brokerage free trading with new account opening.

Account opening fees –

Since the firm is a full-service Stock broking company, it has to provide Demat account services too. Hence, besides CDSL (Central Depository Services Ltd), they have also tied up with NSDL (National Securities Depository Limited) besides their depository services.

They provide a free account opening facility for – the trading accounts and the Demat account. However, to begin trading, the investor must keep Rs. 10,000 as the margin money or the minimum security deposit.

Apart from this, account opening does not require any charges. The annual maintenance charge for the Demat account stands at Rs. 300 per annum. But in the trading account, there is no maintenance charge.

Brokerage Charges –

The company offers two brokerage plans:

1.Premium Plan (Full-service plan) –

In this Plan, the company charges a percentage-basis brokerage for – Intraday, Delivery, and F&O.

2.The premium brokerage plan offers a full-service trading account –

  • in-person assistance through a relationship manager (RM),
  • free research and advisory,
  • free call & trade
  • Other add-ons.

This plan is suitable for investors or traders who need assistance from the broker for their trading needs. However, customers can also trade by using the online trading platform.

Segment Brokerage Charges
Equity Delivery 0.20%
Equity Intra-day 0.02%
Equity Futures 0.02%
Equity Options Rs 25 (per lot)
Currency Futures 0.01%
Currency Options Rs 15 (per lot)
Commodity Futures 0.01%
Commodity Options Rs 50 (per lot)

 

3.Discount Plan –

The discount brokerage plan is for customers who can trade online by themselves with little or no assistance from the broker. This plan does not offer many add-ons like free call & trade and in-person assistance through an RM.

 

Segment Brokerage Charges
Equity Delivery Rs 25 per trade
Equity Intra-day Rs 25 per trade
Equity Futures Rs 25 per trade
Equity Options Rs 25 per trade
Currency Futures Rs 25 per trade
Currency Options Rs 25 per trade
Commodity Futures Rs 25 per trade
Commodity Options Rs 25 per trade

 

Trading Platforms –

The company offers its customers an ODIN-based trading platform for online trading. ODIN is considered to be one of the most stable and popular Indian trading platforms used by many other full-service and discount brokers.

The trading platforms are available on the web, in mobile applications, and as an installable trading terminal and these applications are available for free to all clients. The platforms are built by 63 moons technologies for its clients to make trading easy, fast, and efficient.

1.GCL Pro web (Web-based browser) –

It is a high-end trading application which is internet-based and provides investors with a seamless and advanced trading experience. This trading platform by GCL Securities can be accessed from any computer or phone with a web browser installed on it. It allows the investor or trader to invest in IPO and mutual funds along with Stocks, Derivatives, Currency, and Commodities. The website is intuitive with a wide range of features that includes :

  • Easy navigation.
  • All-in-one trading platform for Equities, Commodities, and Mutual Funds.
  • Real-time market information.
  • E-IPO Application.
  • The single-screen display of all derivative contracts for a particular underlying.
  • Net Position Report that can assist users with proper order placement.
  • Overall Portfolio Report.
  • Mailbox feature for daily query resolution.
  • Stock Screener across various parameters (like price, volume, buyer, seller, open interest, etc.)
  • Advanced charting tools.
  • Easy fund transfer.

2.GCL On Time (Mobile trading application) –

It is a mobile app by GCL Securities and is one of the highly-rated apps (with a 4+ rating) supported on both – Android and iOS devices. The investor or trader can trade in Equities, Derivatives, Currency, and Commodities at their fingertips using GCL On Time. The app claims to be a financial fitness platform for customers that allows them to trade on the go and provide an advanced user experience. It is also a feedback-oriented platform aimed to make the trading experience seamless for its customers.
The app offers many essential trading features which can be stated as :

  • Clean and simple UI
  • Real-time Portfolio tracking.
  • One-stop shop with access to all the stock markets.
  • Advanced and vibrant charting tools.
  • Personalized and Customized watchlists.
  • Find a transfer facility.
  • Live streaming of market data
  • Secured app with two-factor authentication

3.Trading Terminal (ODIN) –

It is one of the most powerful, advanced, simple, secure, and stable trading platforms available in India for trading Equities, Derivatives, Currency, and Commodities at BSE, NSE, and MCX. This trading terminal holds the ability to place multiple order types with complex processing capabilities.
Some of the Key features that ODIN provides are :

  • Access to multiple assets, segments & international exchanges.
  • Extensive Cross-asset Market Watch.
  • Data-driven decision-making.
  • Various market depth windows.
  • Charting across different periods and asset classes with 100+ indicators.
  • Extensive back-testing and optimization.
  • Instant updates on order status, open positions, etc.
  • Facility to place orders from the available watchlist.
  • Shortcut keys for fast trading.

Conclusion

GCL Securities has many advantages that suit the investment needs of the traders. Having a strong experience in commodity trading, the firm provides instant and paperless online account opening, the trading terminal ODIN offers a simple and powerful online platform and a dedicated Relationship Manager in the Premium plan. The software is feedback oriented and aims to make the trading and investment journey hassle-free, and seamless for the customers.

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