SAMCO Review 2020 – Trading Platforms, Brokerage Plans, Customer Service

SAMCO Review 2020 & Best Brokerage Charges

 SAMCO Review

samco review 2020

Conceptualized in the year 2015, 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.

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.

The best thing with SAMCO is its SAMCO Rating Tool which is the first and only stock rating tool in India. It examines and rates businesses on a range of parameters such as market analysis, income, balance sheet evaluation, corporate governance, and others.

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.

  1. 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.
  2. 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.
  3. 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

 

EntityMembership ID
SEBIINZ0000013932
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
NCDEXNCDEX/TM/CORP/1123
CDSLIN-DP-CDSL-443-2008
CINU67120MH2004PLC146183
Registered Address1004 – 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

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 Equity 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:

  1. Open only “Trading Account” if:  To trade only Futures & Options and/or Currencies, whether Intraday or Positional. Demat account is not needed.
  2. Open “Trading and Demat” if: To take transfer of Stocks (buy and hold stocks overnight) along with trading in Futures & Options and/or Currencies.
  3. 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

  • Email
  • 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 2019

  • 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)

Trading Brokerages

  • 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
SAMCO ChargesEQUITY DeliveryEQUITY Intraday
Brokerage₹20 per executed order or 0.2% whichever is lower₹20 per executed order or 0.02% of gross turnover whichever is lower
Securities Transaction Tax (STT)0.1% on both Buy and Sell0.025% on the Sell Side
Transaction / Turnover ChargesNSE ₹325 per crore | BSE ₹1 per trade (each side)NSE ₹325 per crore | BSE ₹1 per trade (each side)
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)
SEBI Charges₹15/Crore₹15/Crore
Stamp Charges*State wiseState wise

 

SAMCO F&O BrokerageFuturesOptions
Brokerage₹20 per executed order or 0.02% of gross turnover whichever is lower₹20 per executed order or 0.02% of notional turnover whichever is lower
Securities Transaction Tax (STT)0.01% on Sell Side0.05% on Sell Side(on Premium)
Transaction / Turnover ChargesNSE ₹190 per crore | BSE ₹1 per trade (each side)NSE ₹7500 per crore | BSE ₹1 per trade (each side) (on premium)
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)
SEBI Charges₹15/Crore₹15/Crore
Stamp Charges*State wiseState wise

 

SAMCO ChargesCurrency FuturesCurrency OptionsCommodity
Brokerage₹20 per executed order or 0.02% of gross turnover whichever is lower₹20 per executed order or 0.02% of notional turnover whichever is lower₹20 per executed order or 0.02% of gross turnover whichever is lower
Securities Transaction Tax (STT)No STTNo STT0.01% on Sell Side (Non-Agri)
Transaction / Turnover ChargesNSE ₹110 per crore (0.0011%)NSE ₹4000 (on premium) per crore (0.04%)Non-Agri ₹260 (0.0026%) | Agri ₹175 per Crore (0.00175%)
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)
SEBI Charges₹15/Crore₹15/Crore₹15/Crore
Stamp Charges*State wiseState wiseState wise

 

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.

 

Demat Account Charges

IDTransactionCharges
1Demat Account Opening Charges₹0
2Stamp Charges payable upfront (at actual)₹50
3Annual Maintenance Charges (AMC):
a. Individuals₹400 Per Year + GST (Payable upfront every year)
b. Corporates₹800 + GST (Payable upfront every year)
4Transaction Charges per ISIN (Market Trades):
a. Buy (Receive)₹0
b. Sell (Debit)₹10 (including CDSL Fee)
5Inter Depository Transfer (Off-Market Trades):
a. Buy (Receive)NIL
b. Sell(Debit)0.02% or ₹25 whichever is higher (including CDSL Fee)
6Demat (Per certificate)₹10 + ₹50 Courier charges
7Remat (Per ISIN)CDSL Charges + ₹50 Courier charges
8Courier charges per Demat/ Remat request₹50
9Pledge per ISIN₹60 (Including CDSL Charges)
10Unpledge per ISIN₹60 (Including CDSL Charges)
11Pledge Invocation per ISIN₹60 (Including CDSL 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:

  1. Payment gateway combined with Samco’s back office
  2. NEFT/RTGS
  3. Cheque

The Conclusion

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.

 

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