Geojit BNP Paribas Review & Brokerage Charges

Very few of you might know that Geojit was the first name who came up with online trading in the country back in 2000 along with mobile trading.

Established way back in the year 1987, Geojit BNP Paribas (Geojit) is considered one of the leading stock brokers based in India. Headquartered in Kochi, Kerala, the stock broker is known to have a great presence in the gulf too.

The country’s top-rated stock broker is supported by none other than banking giant BNP Paribas and offers a wide range of services including qualified research, a number of trading platforms, over 14,000 fund schemes and satisfactory customer service.

With Geojit BNP Paribas, you can choose to trade across BSE and NSE. With a strong network of over 500 branches across the country, stock trading was never so easy. In April 2009, the name of the stock broking firm was transformed from Geojit Securities Limited to Geojit Financial Services Ltd. (GFSL) and eventually to Geojit BNP Paribas Financial Services Limited.

The major trading services offered by Geojit BNP Paribas including:

  • Equity
  • Currency
  • IPO
  • Derivative
  • Portfolio Management
  • Mutual Funds
  • NRI Trading
  • Geojit PMS

At present, the full-service stock broker has an active presence through its 500+ offices across the country. And its client base stands at around 8,00,000+ clients. The stock broker is also actively present in several Middle Eastern countries including Saudi Arabia, Bahrain, Oman, UAE, and Kuwait.

The best thing about the stock broker is that it allows investors to open a 2-in-1 account in association with a few leading banks which means they can easily transfer funds without any hassle.

So, what you get is to Geojit Demat Account which boasts of trading benefits in a single package.

In regard to mutual funds, the stock broker allows investors to choose from over 1000 mutual fund schemes offered by over 35 Asset Management Companies.

In July 2015, Geojit acquired Sharekhan at a price of around 2200 crore. After that in 2016, Geojit continued to be a partner with Geojit Paribas.

Geojit Pricing

The charges levied by Geojit are as follow:

Trading Account Opening Charges (One Time) ₹0
Trading Annual maintenance charges (AMC) ₹0
Demat Account Opening Charges (One Time) ₹100 (for Agreement Stamp Paper)
Demat Account Annual Maintenance Charges (AMC) ₹400

 

Geojit Brokerage

The brokerage details are given below:

  1. Cash Market Brokerage
    • Delivery-based Trading: 0.30%
    • Intraday Trading: 0.03%
  2. Futures & Options Brokerage
    • Futures: 0.03%
    • Options Intraday: ₹125 per agreement
    • Options carry forward positions: ₹150 per pact

Other Brokerage Charges

Minimum Brokerage Geojit: Geojit levies ₹20 per Contract or 1 paisa per share whichever is higher with a maximum cap of 2.5% per share.

Depository Service Charges

For Resident Retail Customers and Corporates
Particulars Charges
Account Opening Charges 0
First Year AMC Charge 0
Annual Maintenance Charges (AMC) ₹600 (₹450 for customers opting for e-mail statements)
Transaction Charges – Buy – Market and Off-Market 0
Transaction Charges – Sell – For transaction through Geojit 0.02 % subject to a lower limit of ₹15 and maximum of ₹40 per transaction
Transaction Charges – Sell – For transaction through other brokers 0.02% subject to a low limit of ₹50 and maximum of ₹100 per Transaction
Transaction Charges – Sell – Off Market Trades 0.02 % subject to a minimum of ₹20 and maximum of ₹40 per transaction
Pledge Creation ₹50 per contract
Pledge closure ₹50 per contract
Pledge invocation ₹50 per contract
Dematerialisation Charges 0 + Courier charges @ Rs.35/- per request
Rematerialization Charges Rs.10 for every hundred securities or part therefrom or Rs.10 per certificate
Custody Charges 0

Geojit Trading Platforms

In order to make trading easy and seamless, Geojit BNP Paribas offers a wide array of trading platforms to cater to different types of clients.

The details are given below.

Geojit Selfie Platinum

Selfie Platinum is a trading terminal that needs to be downloaded and installed by the user on a desktop or laptop. This platform is quite effective for traders who are very much involved in stock trading and don’t want to miss even a slight change in the stock prices.

Its salient features are:

  • Option to customize screen layouts accordingly
  • Same market watch displays Currency, Cash, and F&O quotes at one point of time
  • Easy transfer of funds across multiple banks
  • Aftermarket Hours Order (AMO) is permitted via system

Geojit Selfie Gold

In comparison to Selfie Platinum, Selfie Gold is a web-based stock trading system that can be opened on any browser. There is no need to download or install it. Its major features include:

  • Insightful research and market tips
  • Customized dashboard and layouts
  • Integrated security view with interactive charts, market quotes, market info at one place with an option to order right away
  • One-click trade facility
  • Over 90 market indicators for easy and seamless technical analysis

Interested users just need to open a link on their web browser to access the portal, enter the login credentials, and start trading.

Geojit Selfie Mobile App

As its name indicates, this is a mobile app developed by Geojit BNP Paribas for stock trading. It is known to have an amazing user experience. Some of its impressive features are:

  • Option Calculator/Chain and F&O Margin Calculator
  • Multiple watchlists as per the given preferences
  • Leading gainers and losers shown through color-coding
  • Real-time charts featuring various styles such as Bar, Candle-stick, and Mountain, etc.
  • Research reports
  • Market tips
  • Daily recommendations right within the app

However, there are some issues found with the app including:

  • The app gets hanged at times, particularly when using for quick intraday trades
  • Slow app response at times
  • Login related issues reported by many users but still no firm resolution by Geojit

Geojit Research

Geojit BNP Paribas also offers research and suggestions on a daily basis to its clients. The research is divided into several categories on the basis of the trading segment as displayed below:

  • Equity
    • Daily Market tracker – keeps you informed of market index movements (Sensex & Nifty), Specific stock index movers, gainers/losers, sector movement.
    • Market Analysis
    • Company Information
    • Corporate announcements
    • News Analysis
  • Mutual Funds
    • Top-performing stocks
    • Category returns
    • New fund offer
    • Fund performance tracking
  • Currency
    • Currency tips
    • Charting
  • IPO Analysis

The clients get daily research insights, reports, and tips through email, SMS, and within the trading platforms in the form of notifications. There is an option to choose multiple categories in regard to tips and orders chosen.

Now when it comes to determining the quality of tips and calls provided by Geojit, it is recommended to do your own analysis before making an investment. This is because the quality of the calls is not at par. It is recommended to verify and confirm the tips and suggestions provided by Geojit.

Geojit Customer Care

The customer service of Geojit is delivered through multiple channels including:

  • Physical branches
  • Webform
  • Email support
  • Phone support
  • Toll-Free number
  • Customer support portal

In terms of customer service, Geojit is known to boast of high quality along with the quantity. The broker has a separate portal to help its clients. This portal allows users to register issues, fetch information about turnaround time, eventually a firm solution regarding the raised concern. They also client notification about the raised query at regular intervals.

In addition, there is an option to receive updates on phone, toll-free number and physical branches located in various parts of the country. This clearly indicates that that broker offers awesome quality customer service to its clients.

Benefits of Geojit BNP Paribas

  • Availability of 3-in-1 account which makes fund transfer quite easy
  • Best-in-class trading platforms with time advancements and updates
  • A brand carrying a legacy of more than 3 decades into stock broking which is a big plus for investors

Demerits of Geojit BNP Paribas

  • Comparatively high brokerage
  • Trading across the commodity segment now available
  • Unavailability of desktop and mobile app for iOS
  • Zero exposure offered across segments other than equity intraday

Conclusion

Being one of the oldest stock brokers in the country, Geojit definitely has outstanding experience in the Indian stock broking market which clearly reflects in their products. However, despite this, the broker is still not able to carve a niche in the market.

Despite having nominal charges, outstanding customer services, and a strong legacy, the brand didn’t manage to stand on one strong pillar in the eyes of its clients.

For those looking to open an account with Geojit BNP Paribas, it is strongly recommended to gain true insights about each & every aspect of their offerings from price to products, and services. This is especially true in case of hidden charges that may arise at a later stage.