Reviews of Stock Brokers


Indbank Online

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 Indbank Online, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Overview

Indbank Online founded in 1989 by P.A.Krishnan is a Private company headquartered in Chennai, Tamilnadu India. As a Full Service Broker, Indbank Online aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Indbank Online operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewIndbank Online
Broker TypeFull Service Broker
Type of companyPrivate
HeadquarterChennai, Tamilnadu
FoundersP.A.Krishnan
Foundation Year1989
Supported ExchangesNA
Total branchesNil

Indbank Online Account opening charges

To begin trading with Indbank Online, you need to open a trading account and a Demat account. Indbank Online charges Rs.219 for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.349 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesIndbank Online
Trading Account Opening ChargesRs.219
Demat AMC (Annual Maintenance Charges)Rs.349 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyMinimum Rs.5,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Indbank Online Brokerage Charges

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

Equity Brokerage Charges

Equity Brokerage ChargesIndbank Online
Equity Delivery Brokerage0.1% – 0.2%
Equity Intraday Brokerage0.01% – 0.02%
Equity Futures Brokerage0.01% – 0.02%
Equity Options BrokerageRs.10 – Rs.20 per Lot

Currency Brokerage Charges

Currency Brokerage ChargesIndbank Online
Currency Futures Brokerage0.01% – 0.02%
Currency Options BrokerageRs.10 – Rs.20 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesIndbank Online
Commodity Options Brokerage0.01% – 0.02%

Indbank Online Other Charges

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

Other Brokerage ChargesIndbank Online
Minimum Brokerage ChargesPercentage of Transacton
Transaction Brokerage Charges0.00305% 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

Indbank Online Equity Leverage

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

Equity LeverageIndbank Online
Equity DeliveryUpto 1x
Equity IntradayUpto 7x
Equity FuturesUpto 2x
Equity OptionsUpto 2x

Indbank Online Currency Leverage

Currency LeverageIndbank Online
Currency FuturesUpto 4x
Currency OptionsUpto 3x

Indbank Online Commodity Leverage

Equity LeverageIndbank Online
CommodityUpto 2x

Indbank Online Offers

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

OffersIndbank Online
Free Stock Trading AccountYes
Free Demat AccountNo
Flexible PlansYes
Brokerage DiscountsNo
Happy HoursNo
1 Month Free PlanNo
Holiday OffersYes
Referral ProgramNo
Zero Brokerage on Loss TradesNo

Indbank Online Features

FeaturesIndbank Online
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 InstitutionYes
Trading ExposureUpto 7x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo
BankingNo
InsuranceNo

Indbank Online 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.

ServicesIndbank Online
Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsYes
Company Stock ReviewYes
Free Stock TipsYes
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Indbank Online Trading Platforms

The Indbank Online 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.


Indbank Online Trading Platforms

Desktop Trading PlatformsIndbank Online
WindowsYes
MacNo
Desktop BrowserNo

Indbank Online Mobile App

The Indbank Online 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 AppIndbank Online
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Indbank Online Web Trading

For web-based trading, Indbank Online offers a powerful trading website known as Indbank Online 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.


Indbank Online Trade Terminal

Indbank Online 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.


Indbank Online Customer Support

Customer SupportIndbank Online
Relationship ManagerNo
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches76

Indbank Online 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 Indbank Online.

BSE ComplaintsIndbank Online
BSE Complaints0
BSE Resolved Complaints0
Percentage of resolved BSE complaintsNaN %
NSE Complaints6
NSE Resolved Complaints6
Percentage of resolved NSE complaints100.00 %
BSE/NSE Complaint vs. Resolved Percentage100.00 %

Conclusion

In conclusion, Indbank Online 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, Indbank Online can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.