SAMCO, is pouplar among investors because of its new ITL or Indian Trading League. Overall average discount broker, switching from traditional brokerage to discount broker, should improve more on customer support and customer management.
ITL, the trading League; Leverage for trading in equity intraday using MIS is highest in the industry ranging from 3X to 15X depending on the stocks; Referral Credit; Cover Order, Bracket Order and Trailing Stop Loss order are available.
Margin required for Nifty and Bank Nifty is high; no margin in equity delivery; average customer Service.
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SAMCO is the online discount brokerage firm that has been just launched by SAMCO Securities. The company has a strong hold in capital market as full service Broker from last 20 years formal brand name Samruddhi Stock Brokers Limited. SAMCO offers trading across all leading stock and commodity exchanges in India including BSE, NSE, MCX-SX, MCX and NCDEX.
Their brokerage charges are quite in line with other major discount brokers in India. It is 0.02% or Rs 20 per executed order, whichever is lower, for intra-day, F&O, currency and commodity trading. For equity Delivery, the brokerage is Rs 20 or 0.2% per executed order whichever is lower.
With Samco, you can invest in Stocks, debentures, commodity, currency, bonds and ETFs.
You can also earn by referring your friends and relatives to Samco And become Samco referral associate. The distinguishing feature of the Broker includes Margin limits provided for intraday trades. Samco Rating Tool is the first and only Stock Rating tools in India. It evaluate and rate companies on a variety of different parameters including market analysis, earnings, balance sheet analysis, corporate governance and others.
Samco provides customer support through their phone line, query resolution on website and email.
The broker also provides Demat Account DP services. Samco offers 3 easy ways for funds transfer to Samco trading account i.e.
SAMCO CashPlus: Fist discount broker in India providing delivery leverage in equity segment to purchase share on NSE and BSE. You can get leverage of upto 4x on the shares bought.i.e if you have 1,00,000 Rs you can buy share up to Rs 4,00,000. You need to pay 0.05% charges on outstanding amount. You can use this facility for 300+ stocks listed in this category.
SAMCO Data bank: This can be a handy company performance tool for investor. You can get company's financial position/results in single page view from last few years for better decision making.
SAMCO Ratings Monitor: Depend on company's fundamentals, SAMCO is providing a AAA rating for decision making.
SAMCO Margin: Investor can use upto 15X Intraday equity segment leverage (MIS) ranges depend on stock. List of stocks and there corrosponding leverage is refreshed every day on SAMCO's site, It can be between 3X to 15X. Intraday derivatives segment (MIS) trades are allowed at almost half the normal margins. Intraday cover order (CO) trades which have built in compulsory stop loss order can have far higher leverage than the normal.All open MIS positions with SAMCO get squared off at 3:15 PM.All open CO positions with SAMCO gets auto squared off before end of the day (Equity & F&O: 3.15pm, Currency: 4.30PM, Commodity: 30 mins before close).
SAMCO announced the launch of the Indian Trading League Season 2. They introduced ITL last year. It was concluded in March. The new ITL begins from May 1, 2016 and will end on March 31, 2017. The basic rules and regulations and pre-requisites are same as last year. Different amount of prize money will be distributed to participants participating in different formats of league.
The League has added two new formats- the Royale League and the Students League along with the existing four formats viz the Traders league, the Commodities League, the Investors League and the Womens League.
The Royale League is for traders and investors investing with capital greater than Rs 5 Lakhs and Students League is for student participants below the age of 27. Participants in the Investors League can't invest in derivatives of any kind, and the Commodity League participants can only invest in commodity derivatives. Participants in the Investors League automatically qualify for the Traders League, and all women participants will qualify for the Womens League. You can participate in more than one league, separately.
The winners will be determined on the basis highest percentage net returns. All type of market participants like intraday and short term traders, positional traders, investors, system traders can participate in league.
The segments allowed to trade in are equities, equity derivatives, currency derivatives, interest rate futures. Participants can enter at any time during the year from 1st May, 2016 to 31st March 2017. Minimum initial capital deposit of Rs 25,000 is required in your trading account. Samco's fixed brokerage of Rs 20 per transaction will be applicable on every trade. There is no account opening charges as of now.
Different amount of prize money from 1.5 crore will be distributed to winners across different formats of league and time period. The winner of ITL Royale League will get a fund management contract of USD 1 million. First, second and third prizes are awarded in each category on annual, quarterly, monthly, weekly and daily basis. The first prize for annual winner in Royale league is Rs 10 lakh, for trader league 5 lakh, investor league 5 lakh, commodity league 5 lakh, women league 100 gm of gold and students league Rs 1 lakh.
You can check your ranking in the contest on Samco's website. Winners are announced periodically on the website. All winners receive prize money in their account accept for annual winners.
Samco is also rewarding gold, silver and bronze medals for different criteria and for trading and investing achievements. The program also penalizes users with Red cards and Yellow cards for mistakes made in their trading or investment portfolio.Points to consider before entering this league:
|Service Type||Discount Broker||Discount Broker||Full Service Broker||Full Service Broker||Discount Broker|
|Brokerage||20 Rs||Rs 20||0.05 to .55%||0.1 to 0.5%||Rs 15|
|Account Type||2 in 1||2 in 1||3 in 1||2 in 1||2 in 1|
SAMCO charges the flat Rs 20/ executed order for all segments. If your trading volume is low, you can avail benefit of lower of Rs 20 or .2% (for delivery) and .02%( for derivatives) . Samco doesn't have any hidden charges like software usage charges and there is no Trading account AMC which is pretty much standard with all discount Brokers.
SAMCO's Rs 20 flat-rate share trade is equal to Zerodha (Rs 20),RKSV (Rs 20),Tradejini (Rs 20) but slightly expensive than my Value Trade(10 Rs), SASOnline(Rs 9) & RK Global (Rs 9),Trade Smart Online(15 Rs), Compositedge (18 Rs) plans.
Call and Trade facility is available at RS 20 / executed order with first 20 CALL N TRADE Free. SAMCO clears with the exchanges on T day so overnight exchange margins are the lowest in the Industry.Account Opening Charges
|Brokerage Plan||Fix Brokerage Plan|
|Equity Delivery||20 or .2% whichever is lower|
|Equity Intraday||20 or .02% whichever is lower|
|Equity Futures||20 or .02% whichever is lower|
|Currency Futures||20 or .02% whichever is lower|
|Commodity||20 or .02% whichever is lower|
For online trading with SAMCO, investor has to open 2-in-1 account(Trading and Demat). Following are the ways to open an account with SAMCO:
With Samco, you can trade using either of the trading platforms available:
Brokerage Calculator, SPAN Calculator, Margin Calculator, SAMCO Stock Ratings are some of the innovative tools offered by SAMCO to its clients.
SAMCO is entering the discount brokerage industry with big advertising strategy of initiating an investment league and promoting it with big celebrity of India Kapil Dev though it may only attract new entrants in stock market. For exisiting traders what matters the most is the transparency, track record, customer support, trading tools, decent margin which if SAMCO is successful to provide, can sustain with champions in discount brokerage space.
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Flat 20% discount on online transaction