Reviews of Stock Brokers


Bonanza Portfolio

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Bonanza Portfolio, one of India's prominent Discount Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Overview

Bonanza Portfolio founded in 1994 by Shiv Kumar Goel, Satya Prakash Goel is a Private company headquartered in Mumbai, India India. As a Discount Broker, Bonanza Portfolio aims to provide cost-effective buy/sell orders, enabling investors to save money compared to full-service brokers. However, it is crucial to note that Bonanza Portfolio operates as a full-service brokers. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewBonanza Portfolio
Broker TypeDiscount Broker
Type of companyPrivate
HeadquarterMumbai, India
FoundersShiv Kumar Goel, Satya Prakash Goel
Foundation Year1994
Supported ExchangesNA
Total branchesNil

Bonanza Portfolio Account opening charges

To begin trading with Bonanza Portfolio, you need to open a trading account and a Demat account. Bonanza Portfolio charges Free for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.250 per annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesBonanza Portfolio
Trading Account Opening ChargesFree
Demat AMC (Annual Maintenance Charges)Rs.250 per annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyZero
Offline to Online ChargesNot applicable
DepositoryCDSL

Bonanza Portfolio Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. Bonanza Portfolio brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesBonanza Portfolio
Equity Delivery Brokerage0.1% or Rs.18 per Trade
Equity Intraday Brokerage0.01% of Rs.18 per Trade
Equity Futures Brokerage0.01% of Rs.18 per Trade
Equity Options BrokerageRs.18 per lot

Currency Brokerage Charges

Currency Brokerage ChargesBonanza Portfolio
Currency Futures Brokerage0.01% of Rs.18 per Trade
Currency Options BrokerageRs.18 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesBonanza Portfolio
Commodity Options Brokerage0.01% of Rs.18 per Trade

Bonanza Portfolio Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesBonanza Portfolio
Minimum Brokerage ChargesAs per Transaction
Transaction Brokerage Charges0.00275% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNA

Bonanza Portfolio Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Bonanza Portfolio:

Equity LeverageBonanza Portfolio
Equity DeliveryUpto 8x
Equity IntradayUpto 12x
Equity FuturesUpto 6x
Equity OptionsUpto 5x

Bonanza Portfolio Currency Leverage

Currency LeverageBonanza Portfolio
Currency FuturesUpto 3x
Currency OptionsUpto 3x

Bonanza Portfolio Commodity Leverage

Equity LeverageBonanza Portfolio
CommodityUpto 5x

Bonanza Portfolio Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersBonanza Portfolio
Free Stock Trading AccountYes
Free Demat AccountYes
Flexible PlansYes
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramNo
Zero Brokerage on Loss TradesNo

Bonanza Portfolio Features

FeaturesBonanza Portfolio
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingYes
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)No
Trading InstitutionNo
Trading ExposureUpto 12x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo
BankingNo
InsuranceNo

Bonanza Portfolio Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesBonanza Portfolio
Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsNo
Company Stock ReviewYes
Free Stock TipsNo
IPO ReportsYes
Top PicksNo
Daily Market ReviewNo
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Bonanza Portfolio Trading Platforms

The Bonanza Portfolio trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.


Bonanza Portfolio Trading Platforms

Desktop Trading PlatformsBonanza Portfolio
WindowsYes
MacYes
Desktop BrowserYes

Bonanza Portfolio Mobile App

The Bonanza Portfolio mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppBonanza Portfolio
Mobile BrowserNo
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Bonanza Portfolio Web Trading

For web-based trading, Bonanza Portfolio offers a powerful trading website known as Bonanza Portfolio trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.


Bonanza Portfolio Trade Terminal

Bonanza Portfolio offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.


Bonanza Portfolio Customer Support

Customer SupportBonanza Portfolio
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support BranchesS

Bonanza Portfolio Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Bonanza Portfolio.

BSE ComplaintsBonanza Portfolio
BSE Complaints135
BSE Resolved Complaints106
Percentage of resolved BSE complaints78.52 %
NSE Complaints114
NSE Resolved Complaints89
Percentage of resolved NSE complaints78.07 %
BSE/NSE Complaint vs. Resolved Percentage78.29 %

Conclusion

In conclusion, Bonanza Portfolio offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Bonanza Portfolio can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.