Trading Bells Review & Brokerage Charges

Trading Bells Review

tradingbells

 

Backed by Swastika Investmart Ltd., Trading Bells is a prominent discount broker that aspires to take discount broking to a new level. Based out of Indore, Trading Bells is the result of an a Rs. 2 Cr investment made by the leading full-service stockbroker in December 2016.

Trading Bells offers stock, commodity and currency trading services to traders and investors. TradingBells is built on the foundation of delivering transparent, quicker and lo- cost brokerage service to customers who would like to trade online on their own.

The discount broking firm was launched in the July of 2016 and at a later stage it became a part of Swastika Investmart Ltd, which is a leading conventional stock broker and financial service provider since 1992.

One thing about Trading Bells is that it is now listed as a separate identity at NSE and operates as Swastika Investmart listing. Though the firm’s headquarters is in Indore, the broker also has a registered office in Mumbai. All business operations of the firm are carried out from its Indore office.

Trading Bells is one of the few stockbrokers that enable free demat and trading accounts with zero maintenance charges.

Being an active member of BSE, NSE, MCX, MCX-SX and NXDEX, Trading Bells offers trading services to its clients across various segments including:

  • Equity
  • Derivative
  • Currency
  • Commodity
  • Depository
  • NRI

Trading Bells claims to have nearly 60000 clients, 700+ sub-brokers and a great presence in over 80 cities.

Its brokerage pattern is pretty much simple and straight. There is a brokerage of 0.01% or Rs. 20 per executed order, whichever is lower, regardless to the quantity and value of shares. This is except equity delivery trades which comes at free of cost.

Since its inception, Trading Bells has carved a niche in the stock broking industry by taking low-cost broking to a new level.

The broker’s strong exposure to technology enable it to offer attractive brokerage plans to its clients.

Membership Information

Brokerage Plans

There are typically two trading plans offered by Trading Bells – Standard Plan and Premium Plan.

Its standard plan is pretty simple and easy understandable. It offers free equity delivery trade like Zerodha and Upstox. For all other trades, there is a charge of .01% or Rs. 20 per executed order.

Premium plan is best suited for high frequency traders.

Under the premium plans, the investors can get almost double the leverage than the regular plan.

Brokerage:

  • Delivery Trading – 30P or .30%
  • Intraday & Future Trading – 3p or .03%
  • Options – Rs. 80 per lot
Brokerage Plan Standard Plan Premium Plan
Order Type Intraday Order Margin Plus/CO Order Intraday Order Margin Plus/CO Order
Equity Delivery 1x NA 2x NA
Equity Intraday 10x 22x 20x 40x
Index/Stock Futures 3x 7x 5x 10x
NSE Currency 3x 7x 5x  10x
MCX/NCDEX Futures 3x 7x 5x  10x
Options Buy/Sell 1x 1x 1x 1x

Process to Open an account at Trading Bells

An investor needs to open a trading as well as demat account with Trading Bells to carry out trading. There are various options to open an account.

  1. Fill and submit an online account opening form
  2. Web-based paper account opening. E-KYC with Aadhaar card. This method is quite simpler and faster.
  1. Visit any local branch of branch of ‘Swastika Investmart Ltd’ in over 80 cities across India.

Account Opening Charges

  • 750/- one-time charge (including taxes) for Equity + Commodity
  • Above charges include free AMC for lifetime

Documents Required

Your need to have following documents to open an account with TradingBells.

  1. AADHAR Card
  2. PAN Card with photo
  1. Address Proof- Driving License, Passport, Ration card, Latest Telephone or Electricity Bill, Aadhar Card, Government issued ID card etc.
  2. Latest 6 Months Bank Statement (For F&O/Currency/Commodity A/C)
  3. A Cancelled Cheque with MICR no. & IFSC code mentioned on it
  4. Passport Size Photo

Trading Bells Trading Platforms

Trading Bells offers a range of trading platforms to meet the varied trading needs of its clients. As it is backed by full-time broker Swastika Investmart, it offers its own trading platforms along with NSE-sponsored trading application. For more information, read below.

ODIN

This terminal-based trading software needs to be downloaded and installed on any laptop or desktop. Developed by Financial technologies or FinTech, it is a preferred choice of several stockbrokers in the country. ODIN features in-built intelligence that looks for smart opportunities in the market basis the output and other user-set preferences.

With ODIN, you can choose to trade in multiple segments such as Equity, Commodity, Currency Etc. Though the software application is exhaustive, there are lots of features. However, it a bit bulky in size. It clearly means that you need to have a good laptop or desktop configuration to enjoy smoother trading experience on ODIN.

NSE NOW

NSE NOW refer to a web-based trading application developed by NSE. NOW is backed by NSE itself and Trading Bells has been given a license for its clients to use the same. Again, clients can get into trading by directly login through their laptops or desktops without any need for installation or downloading. As it is a third-party software, Trading Bells has no control over it. So, there is no option to provide feedback or suggestion regarding NSE NOW.

The are lots of features available on NSE NOW.

  • Real-time streaming quotes available instantaneously
  • Extremely user-friendly experience with top usable features

NETNETLITE

This is basically a browser-based trading application which is from Swastika Investmart but can also be used for Trading Bells. There is no need to download and installed the same as it can be opened on any  browser on a laptop or desktop.

The application is pretty basic in terms of looks and features. This is why it is best suited for beginners and not for experience or high frequency traders.

Trading Bells – Mobile Trade

Mobile Trade is actually a smartphone application by Swastika Investmart Ltd. Due to its close association with the full-service broker, Trading Bells enables its clients to access the mobile app to perform trading on the go. Some main features of the app are:

  • Option to trade in Equity, Currency, Commodity, and Derivate segments
  • Customization of market watch as per user preferences
  • Aftermarket orders placement permitted
  • Intraday charts, research reports for clients

Trading Bells Customer Care

The discount broker offers customer services to its clients through following communication channels:

  • Phone
  • Email
  • Web Form
  • Branches of Swastika Investmart

Despite being launched not long before, the discount broker is striving to delight its customers in every possible way. However, alike any other new players, there are various areas in customer service that need to be dealt in a professional and effective manner. Trading Bells should try every possible way to enhance the customer service experience against its services.

Trading Bells Depository Services

The broker is registered DP with both CDSL and NSDL. Having Demat account with Trading bells is not compulsory. This means you can associate your previous demat account with Trading Bells trading account and perform the trade.

The company has its presence in more than 80 cities with around 60,000 clients, 700+ sub-brokers.

Trading Bells brokerage structure is extremely simple and very easy to comprehend. At present, they are charging brokerage of 0.01% or Rs20/- per executed order (whichever is lower), irrespective of the number of shares or their amounts (except equity delivery trades which is free. Yes. FREE!).

Trading Bells Pricing

Being a discount broker, the brokerage charged by Trading Bells is pretty low. And it is not just the brokerage, but other charges are pretty low such as account opening charges, maintenance, transaction charges etc. Let’s get to know more about the same below.

Account Opening Charges

Demat Account Opening – Rs. 0

Trading Account Opening – Rs. 0

Demat Account Annual Maintenance – Rs. 0

Trading Account Annual Maintenance – Rs. 0

This clearly means that you need to pay anything to get your account opened at Trading Bells.

Online brokerage

The broker charges a flat rate across all segments:

Equity Delivery ₹0
Equity Intraday 0.01% or ₹20 per executed order whichever is lower
Equity Futures 0.01% or ₹20 per executed order whichever is lower
Equity Options flat ₹20 per executed order
Currency Futures 0.01% or ₹20 per executed order whichever is lower
Currency Options flat ₹20 per executed order
Commodity 0.01% or ₹20 per executed order whichever is lower

From the above table, you’ll get to know that brokerage is very much similar to Zerodha.

 

Transaction Charges

Besides account opening, AMC and brokerage, a customer needs to pay transaction charges as well.

Equity (Cash & Delivery) NSE:0.00325% | BSE: 0.00075%
Equity Future NSE:0.0021% | BSE: 0.0007%
Equity Options NSE:0.060% | BSE: 0.030%
Currency Future NSE:0.00135%
Currency Options NSE:0.044
Commoditties:MCX Non-Agri:0.0031% | Agri:0.004%(NCDEX)

The transaction charges levied by the broker is a bit high in comparison to the permissible percentages defined by trading authorities. This is quite evident as  most of the discount brokers attracts investors by showing up lowers account opening and maintenance charges but recover it by applying higher transaction charges.

Hence, it is strongly advised to make everything clear about the charges with the executive you’ve contacted for account opening. Make sure you receive price quotes over email so as to avoid any confusion at a later stage.

Trading Bells Exposure or Margins

Trading Bells offers following margins to its clients.

Within the margin segment, the discount broker’s position is pretty much similar to other brokers. Therefore, if you’re not expecting high exposure, Trading Bells is a great choice.

Knowledgebase

When it comes to educate its client base about various trading elements, Trading Bells has a dedication section – TB Blog. Though the layout is pretty much similar to a typical blog page, it provides insightful information to investors about everything that is going to help them gain more.

From basic trading techniques to advanced tips & tricks, you’ll get to know several details about stock market and its functioning.

Referral Program

If you’re looking to earn more apart from typical trading, Trading Bells referral program is truly great. The discount broker considers its clients as valuable assets and determined to act in the best interest of same. Under this plan, you can choose to make extra bucks even haven’t placed any trades or when the markets have turned against your favor.

Trading Bells referral program allows its investors to earn 10% of brokerage generated by their first 10 referrals and 20% on more than 10 referrals. Trading bells also offers free trades on client’s birthday.

The Conclusion

In the field of discount broking India, Trading Bells is one discount broker that is still aspiring to secure its place in the market. Though its trading plans are on the lines of leading players like Zerodha and Upstox, there is high competition prevailing in the market. In terms of margin and customer service, Trading Bells has a long way to go.

If the discount broker really wants to take a leader in the segment, it should pay careful heed to enhancing trading experience of its users across all segements.