Top Stock Advisory
Compositedge vs. Modex Securities
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Compositedge and Modex Securities. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Compositedge and Modex Securities.
Overview
Compositedge are Modex Securities both private companies and Compositedge operates as a discount broker, while Modex Securities functions as a full service broker. Mukesh Patel, Satish Dutt & Brijesh Patel co-founded Compositedge in 1997. And Modex Securities was founded in the year 1995 by Dharmendra Kumar Arora. Compositedge's headquarters are in Bangalore, Karnataka and Modex Securities's headquarters are in New Delhi.
Compositedge operates as a discount broker, while Modex Securities functions as a full service broker. Compositedge is registered in NA, while Modex Securities is registered in NA. The total branches of Compositedge are Nil and the Modex Securities branches are Nil.
| Overview | Compositedge | Modex Securities |
|---|---|---|
| Broker Type | Discount Broker | Full Service Broker |
| Type of company | Private | Private |
| Headquarter | Bangalore, Karnataka | New Delhi |
| Founders | Mukesh Patel, Satish Dutt & Brijesh Patel | Dharmendra Kumar Arora |
| Foundation Year | 1997 | 1995 |
| Supported Exchanges | NA | NA |
| Total branches | Nil | Nil |
Compositedge and Modex Securities Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Compositedge charging Rs.400 and Modex Securities charging Rs.160.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Compositedge Demat account is Free and for the Modex Securities Demat account is Rs.160 per Annum. The Trading AMC for Compositedge and Modex Securities is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Compositedge and Modex Securities is CDSL.
| Account Opening and Demat Charges | Compositedge | Modex Securities |
|---|---|---|
| Trading Account Opening Charges | Rs.400 | Rs.160 |
| Demat AMC (Annual Maintenance Charges) | Free | Rs.160 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Zero Margin | Minimum Rs.15,000 |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Compositedge and Modex Securities Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Compositedge is Rs.15 per executed order, while Modex Securities charges you 0.16%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Compositedge is Rs.15 per executed order and for Modex Securities also, it is 0.02%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Compositedge charge Rs.15 per executed order and Modex Securities charge 0.02% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Compositedge charges Rs.15 per executed order, and Modex Securities charges Rs.16 per Lot.
| Equity Brokerage Charges | Compositedge | Modex Securities |
|---|---|---|
| Equity Delivery Brokerage | Rs.15 per executed order | 0.16% |
| Equity Intraday Brokerage | Rs.15 per executed order | 0.02% |
| Equity Futures Brokerage | Rs.15 per executed order | 0.02% |
| Equity Options Brokerage | Rs.15 per executed order | Rs.16 per Lot |
Compositedge and Modex Securities Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Compositedge is Rs.15 per executed order and for Modex Securities is 0.02%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Compositedge charges Rs.15 per executed order for currency options, whereas Compositedge charges Rs.10 per Lot.
| Currency Brokerage Charges | Compositedge | Modex Securities |
|---|---|---|
| Currency Futures Brokerage | Rs.15 per executed order | 0.02% |
| Currency Options Brokerage | Rs.15 per executed order | Rs.10 per Lot |
Compositedge and Modex Securities Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Compositedge charges Rs.15 per executed order for commodity trading, while Modex Securities charges NA.
| Commodity Brokerage Charges | Compositedge | Modex Securities |
|---|---|---|
| Commodity Options Brokerage | Rs.15 per executed order | NA |
Compositedge and Modex Securities Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Compositedge levies a minimum brokerage fee of Rs.15, while Modex Securities charges Percentage of Transaction brokerage fee.
Transaction Brokerage Charges: Compositedge levies a transaction brokerage charge of 0.00325% of Total Turnover, while Modex Securities charges 0.00316%.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Compositedge is 0.0006% of Total Turnover and for Compositedge is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Compositedge are 0.0116% of Total Turnover, while for Modex Securities, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Compositedge charges NA and Modex Securities charges NA.
| Other Brokerage Charges | Compositedge | Modex Securities |
|---|---|---|
| Minimum Brokerage Charges | Rs.15 | Percentage of Transaction | Transaction Brokerage Charges | 0.00325% of Total Turnover | 0.00316% | SEBI Turnover Charges | 0.0006% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0116% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | NA |
Compositedge and Modex Securities Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Compositedge is up to Upto 2x and by Modex Securities it is up to Upto 3x.
Equity Intraday: Leverage for equity intraday by Compositedge is up to Upto 5x and by Modex Securities it is up to Upto 5x.
Equity Futures: Leverage for Equity Futures by Compositedge is up to Upto 3x and by Modex Securities it is up to Upto 2x.
Equity Options: Leverage for Equity Options by Compositedge is up to Upto 3x and by Modex Securities also, it is up to Upto 4x.
| Equity Leverage | Compositedge | Modex Securities |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 3x | Equity Intraday | Upto 5x | Upto 5x | Equity Futures | Upto 3x | Upto 2x | Equity Options | Upto 3x | Upto 4x |
Compositedge and Modex Securities Currency Leverage
The currency futures leverage provided by Compositedge is up to Upto 2x, while for Modex Securities it is up to Upto 2x.
The currency options leverage provided by Compositedge is up to Upto 2x, while for Modex Securities it is up to Upto 2x.
| Currency Leverage | Compositedge | Modex Securities |
|---|---|---|
| Currency Futures | Upto 2x | Upto 2x | Currency Options | Upto 2x | Upto 2x |
Compositedge and Modex Securities Commodity Leverage
The commodity leverage provided by Compositedge is up to Upto 2x, while for Modex Securities it is up to Upto 3x.
| Commodity Leverage | Compositedge | Modex Securities |
|---|---|---|
| Commodity | Upto 2x | Upto 3x |
Compositedge and Modex Securities Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Compositedge | Modex Securities |
|---|---|---|
| Free Stock Trading Account | Yes | Yes | Free Demat Account | No | No | Flexible Plans | No | Yes | Brokerage Discounts | Yes | No | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | Yes | Referral Program | Yes | No | Zero Brokerage on Loss Trades | No | No |
Compositedge and Modex Securities Features
Equity Trading: Compositedge and Modex Securities brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Compositedge and Modex Securities also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Compositedge and Modex Securities broker is that you can also invest in IPOs. Compositedge also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Compositedge offers trading exposure of up to Upto 5x, while Modex Securities gives up to Upto 5x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Compositedge and Modex Securities, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Compositedge and Modex Securities also allow you to trade in forex trading.
| Features | Compositedge | Modex Securities |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | No | IPO (Initial public offering) | Yes | No | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | No | No |
| Trading Institution | No | No | Trading Exposure | Upto 5x | Upto 5x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | Yes | Yes |
Compositedge and Modex Securities Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Compositedge and Modex Securities offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Compositedge | Modex Securities |
|---|---|---|
| Fundamental Reports | No | No |
| Research Reports | No | Yes |
| Company Reports | No | No |
| Annual Reports | No | No |
| Company Stock Review | No | No |
| Free Stock Tips | No | Yes |
| IPO Reports | No | Yes |
| Top Picks | No | No |
| Daily Market Review | No | Yes |
| Monthly Reports | No | Yes |
| Weekly reports | No | Yes |
| Offline Advisory | No | Yes |
| Relationship Manager | No | Yes |
Compositedge and Modex Securities Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Compositedge and Modex Securities offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Compositedge | Modex Securities |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Compositedge and Modex Securities Mobile Trading Platforms
Compositedge and Modex Securities offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Compositedge | Modex Securities |
|---|---|---|
| Mobile Browser | Yes | No |
| Android App | No | Yes |
| iOS App | No | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Compositedge and Modex Securities Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Compositedge and Modex Securities give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Compositedge | Modex Securities |
|---|---|---|
| Relationship Manager | No | Yes |
| Offline Trading | No | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | 0 | 12 |
Compositedge and Modex Securities Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Compositedge and Modex Securities registered and resolved complaints.
For Compositedge, the Percentage of resolved BSE complaints is 93.33 % and the Percentage of resolved NSE complaints is 91.18 %.
For Modex Securities, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Compositedge is better than Modex Securities in case of resolving customer complaints.
| BSE Complaints | Compositedge | Modex Securities |
|---|---|---|
| BSE Complaints | 15 | 0 |
| BSE Resolved Complaints | 14 | 0 |
| Percentage of resolved BSE complaints | 93.33 % | NaN % |
| NSE Complaints | 34 | 7 |
| NSE Resolved Complaints | 31 | 7 |
| Percentage of resolved NSE complaints | 91.18 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 92.25 % | NaN % |
Frequently Asked Questions
Is Compositedge better than Modex Securities?
Compositedge is a discount broker and Modex Securities is a full service broker. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Modex Securities better than Compositedge?
Modex Securities is a full service broker and Compositedge is a discount broker. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Compositedge and Modex Securities?
The brokerage charges for Compositedge are on the cheaper side since it is a discount broker, while Modex Securities is a full-service broker. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Compositedge and Modex Securities?
To figure out which of the two stockbrokers, Compositedge and Modex Securities, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Compositedge with other stock brokers
Visit the following pages to see a detailed comparision report of Compositedge with other brokerage firms.
Compare Modex Securities with other stock brokers
Visit the following pages to see a detailed comparision report of Modex Securities with other brokerage firms.