SAMCO Review
Samco Ventures Private Limited is counted among the best low-cost brokers in India. The discount broker allows its customers to invest in stock and commodities across NSE, BSE and MCX, MCS-SX and NCDEX. SAMCO’s NBFC domain provides the margin funding, loan against shares and other financial products. It also offers depository services (demat account) via CDSL.
Through this SAMCO Review we focused on its all related terms like Samco Brokerage Charges, Demat account, Trading platforms & more.
The firm was founded by Jimeet Modi, who currently serves as the CEO of the company. Samco took over Samruddhi Stock Brokers Limited and renamed it to SAMCO Securities. In May 2015, SAMCO launched the country’s first capital market league, Indian Trading League (ITL).
The most prevalent USPs of SAMCO are ultra-low brokerage, margin products, heavy exposure and free trading software. According to a study, investors who shifted from conventional brokers like ICICI Direct and Sharekhan are known to save over 60% in commission and taxes. As of 2019, SAMCO is reported to have a client base of 38,243 by thr genuine Samco Review.
SAMCO is a Pay Per Order Brokerage offering simple flat rate trading at ₹20 per executed order. The brokerage charged is regardless of the amount of the trade, exchange or segment. SAMCO doesn’t charge any Minimum Brokerage.
SAMCO is largely considered as a discount broker primarily meant for beginners as it provides an extended list of basic and intermediary tutorials on investing and trading. Besides this, the low brokerage model puts investors are lesser risk of losing money.
SAMCO broking firm’s major products are its Margin Products including CashPlus, StockPlus, and InstaPlus.
- CashPlus delivers customers up to 4X equity delivery leverage on 300+ stocks at an interest charge of 0.05% per day. Put simply, with ₹1 lakh in your trading account, you could buy shares of worth ₹4 lakhs. You could also avert square-off of your placement due to margin shortness.
- StockPlus gives customers margin against shares for intra-day or delivery trades. You could really use the holdings in your demat account to win the margin. Contrary to other brokers, customers do not need to keep 50-50 cash collateral ratio. A trader can even choose to trade with ₹0 balance in his trading account by vowing shares.
- InstaPlus gives customers margin against shares they own to trade intraday.
Some salient features of SAMCO are:
- Delivery Funding: Get up to 4x Delivery Leverage in the Cash Markets
- Margin Against Shares: Trade with ZERO Cash Balance
- Lowest Margin Requirement: Get up to 80x Leverage for Nifty, 33x leverage for stocks 60x for commodity
SAMCO offers following products:
- Equity
- Derivatives
- Debentures
- Commodity
- Currency
- Bonds
- ETFs
Indian Trading League (ITL)
SAMCO Securities, a leading discount broking firm in India has organized Indian Trading League (ITL), the country’s first capital market league. ITL was launched by none other than Kapil Dev, the former Indian cricketer in Mumbai.
The League is poised to trading and investing to a completely new level of experience, which encompasses true money, true markets, true people and true returns. This annual championship is open to all sorts of people, be it investors, intraday traders, positional traders, commodity traders, system traders and women. Winner would be one who gives the highest percentage net return or what is also known as the Absolute Return on Net Funds (ARONF), a practice orated by Deloitte as an accepted method of determination of winners.
The first edition of the league was organized from the 19th of May, 2015 and was extended to the 31st of March, 2016 with 4 formats in the first edition – The Indian Trading League, The Indian Investors League, The Indian Commodities League and the Indian Women League.
SAMCO Membership Details
| Entity | Membership ID |
| SEBI | INZ0000013932 |
| SAMCO NSE Member ID | |
| Capital Market (CM) | INB2312135307 |
| Future & Options (F&O) | INF2312135307 |
| Currency Derivatives (CDS) | INE2312135307 |
| SAMCO BSE Member ID | |
| Capital Market (CM) | INB011213536 |
| Future & Options (F&O) | INF011213536 |
| SAMCO Commodities MCX Member Code: 55190 | |
| MCX | MCX/TCM/CORP/1326 |
| NCDEX | NCDEX/TM/CORP/1123 |
| CDSL | IN-DP-CDSL-443-2008 |
| CIN | U67120MH2004PLC146183 |
| Registered Address | 1004 – A, 10th Floor, Naman Midtown – A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra, India |
Active Client base of SAMCO
- 40+ Thousand clients
- Average daily trading turnover of over ₹4,000 crores
Types of Accounts – SAMCO
At SAMCO, one can choose to open an Equity & Derivatives Trading account, Demat account and Commodity Trading account.
Samco Equity & Derivatives Trading Account
SAMCO offers an online trading account that can be operated with desktop-based platform, a web based or via SAMCO smartphone application. There is also an option of call and trade which may levy some charges i.e. Rs. 20 + GST per order which can be changed at any point of time.
Samco doesn’t feature any kind of Annual Maintenance charges (AMC) for trading account. The trading account of the SAMCO offers investors to trade with Stock market trade, Future and options of stock, Indices and currencies.
Samco Demat Account
A demat account or dematerialization is basically an account which carries the entries of the physical stocks that one possesses, which are interlinked with the trading account and the bought shares will get shifted to the demat account from trading account. Annual maintenance charge (AMC) is RS. 400 is applicable at the end of the financial year on pro-rata basis.
Samco Commodity Trading Account
An account that can opened with a trading member of the commodity exchange market of India such as MCX, NCDX, etc. and with SMACO no AMC will get charged on your commodity ensures smoother trade at MCX. Future cash get rested at the end of the contract, or the customer can also demand for physical delivery.
Things to Kept in your mind before opening a demat account with SAMCO:
- Open only “Trading Account” if: To trade only Futures & Options and/or Currencies, whether Intraday or Positional. Demat account is not needed.
- Open “Trading and Demat” if: To take transfer of Stocks (buy and hold stocks overnight) along with trading in Futures & Options and/or Currencies.
- Open “Commodity Trading Account” if: To trade only Commodities.
Process to Open an account at SAMCO
Opening your Demat with SAMCO doesn’t cost at all. No extra charges are levied against the maintenance of the demat account. All Samco need is some physical paperwork as a piece of evidence with that Rs.400 for the AMC. To trade with SAMCO, an investor needs to open two Accounts i.e. (trading + Demat.)
For web-based trading with SAMCO, an investor needs to open 2-in-1 account (Trading and Demat). Following are the options to open an account with SAMCO, online & offline:
- Fill an online application form.
- Website: https://www.samco.in
- Contact Phone Number/helpline: +91-22-2222-7777/+91-22-6169-9000
- Contact email: [email protected]
- Registered Office:1004-A,10th Floor, Naman Midtown-A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai-400013
Required documents for opening the account
Opening a demat account is Aadhaar-based. You just have to keep these documents handy to fast-track your application: Aadhaar Card, PAN Card, Canceled Cheque and the Latest Bank Statement with IFSC/MICR code.
- Photograph
- PAN Card
- Bank Details – Cancelled cheque or Bank Statement/Passbook copy
- Aadhar Card (or alternative address proof such as Driving license, Voter ID, etc.)
- Proof of Income (6 months bank statement or ITR Return or 3 months– salary slip)
SAMCO Trading Platforms
The country’s leading discount broking firm offers a range of trading platforms to allows its customers to trade seamlessly and trouble-free. These trading platforms are desktop-based, browse-based and smartphone-based. Let’s get to know more about them.
SAMCO Trader
It is actually a terminal-based trading platform by SAMCO. An investor needs to download and install the software on its desktop or laptop to trade. Meant primarily for high frequency traders, the trading platform comes with several features like:
- Market Watch
- Funds Transfer
- Cover orders, View RMS Margin, capitals or limits
- Snap Quote Trading feature that shows the movements of a specific stock along with buyers and seller’s current price and quantity of stocks offered
SAMCO WEB EXPRESS
SACMO Web 5 is a browser-based trading platform that can be easily accessed without the needs of any downloads or installs. The investors just need to enter a valid username and password to being trading.
The web application comes with a host of features that make trading a smoother affair.
SAMCO StockNote
StockNote is one of the easiest and fastest apps to trade in the stock and commodity market in the country. It gives the investors with a seamless and smoother trading experience. In the app, one doesn’t need to place order only after including the respective script to the watchlist.
The application has been accepted well, at least in the primary phase and is appealed to be based on an exclusive technology known as Giga Trading Engine. The general user experience of the application is quite easy, however, the number of features can still be augmented
SAMCO Mobile App
“SAMCO Mobile” Trading system is one of its kind of smartphone application featuring detailed trading and market monitoring platform. If offers real time streaming quotes, with simple and user friendly interface for all type of users.
Its features include:
- Real-time market details
- Option to add market watch lists
- Multiple data points for stock trading analysis
However, there are various issues with this smartphone application such as:
- Frequent app crashes
- Low standard user interface
- Low update frequency cycle
Number of app installs – 50,000 – 1,00,000
App size – 14.6 MB
Update frequency – 6 months
Samco Customer Care
The discount broker’s customer care is readily available at
- Phone
- Social Media
According to several reviews available online, it has been found that their customer care execute are very sales-oriented in nature. Apart from this, their lousy approach to serving customers is something that needs to be improved.
There is a strong need for their customer service team to get some professional training in regard to customer care.
Investor Education & Security
Whether you’re a new investor or an advanced trader, SAMCO provides insightful education for each section of investors. Form their website to mobile app and trading platform, there is a dedicated section where you can get to know everything related to trading and investment.
Samco Pricing
The broking firm charge a flat Rs 20/ executed order for all trading segments. If your trading volume is low, you can get the benefit of lower of Rs 20 or .2% (for delivery) and .02% (for derivatives). It has no hidden charges such as software usage charges and there is no Trading account AMC which is pretty much standard with most of the other discount Brokers.
SAMCO Brokerage Charges
- SAMCO Trading Account Opening Fee: ₹0 (Free)
- Demat account Opening Fee: ₹0 (Free)
- Trading Account AMC: ₹0
- Demat Account AMC: ₹400 per year (payable upfront)
SAMCO Trading Brokerages & Charges
- Equity Delivery: 0.20% or ₹20 per trade whichever is lower
- Equity Intraday: 0.02% or ₹20 per trade whichever is lower
- Equity Future: 0.02% or ₹20 per trade whichever is lower
- Equity Options: 0.02% or ₹20 per trade whichever is lower (on Turnover)
- Currency Futures: 0.02% or ₹20 per trade whichever is lower
- Currency Options: 0.02% or ₹20 per trade whichever is lower
- Commodity: 0.02% or ₹20 per trade whichever is lower
Securities Transaction Tax (STT): This is charged only on the sell part for intraday and F&O trades. It is levied on both sides for Delivery trades in Equity.
Stamp Duty for all states in India and NRIs: *: Charged based on the state where customer lives.
Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus transaction charges.
SEBI Charges: This is charged at ₹15 per Crore.
Other Charges (SAMCO Hidden Fees):
- Call & Trade charges: additional ₹20 per executed order.
- Physical contact note: ₹20 per contact (Email contract notes are free)
- DP charges for delivery-based equity selling – ₹10 per transaction.
SAMCO Demat Account Charges
Samco Leverage Charges
Segment Exposure
Margin Delivery (Cash) 1x
Margin Intraday 3x to 15x. For CO and BO, leverage is up to 33x
Margin Equity Future Intraday MIS positions for the following
- Equity Futures 50% of normal margin
- Index Futures 40% of normal margin
- Cover Order up to 33x
- Bracket Order up to 33x
Margin Currency Future Intraday
- Currency Futures 50% of normal margin
- Cover Order Up to 100x
- Bracket Order Up to 100x
Samco Margin Options No margin for buying options
Samco Referral Program
SAMCO offers a distinctive Refer and Earn program to its existing clients under which they get rewarded on referring their friends and family to open an account with Samco.
Clients are just supposed to refer a friend or a family to SAMCO securities who are willing to open a DEMAT and a TRADING account. If they have friends or family who still trade with a traditional broker who charges a percentage brokerage and end up paying high brokerages, let them know of the benefits with SAMCO’s Flat Brokerage plan of RS.20/ executed order irrespective of the transaction size.
Samco Funds Transfer
Primarily, there are three options to transfer funds to a trading account with Samco:
- Payment gateway combined with Samco’s back office
- NEFT/RTGS
- Cheque
The Conclusion – SAMCO Review
There was an impressive start by Samco in its initial days but in recent times, the discount broking firm has witnessed a lot of complaints by its existing customers. Most of these complaints are related to low performing trading platforms, below par customer service, extra charges and so on.
Customer service is truly a grey area with Samco and demands higher levels of improvement at all levels from communication to service delivery. However, for beginners, Samco is a nice discount broker to get associated with.