Reviews of Stock Brokers
Shri Parasram Holdings
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 Shri Parasram Holdings, 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
Shri Parasram Holdings founded in 2007 by Late Shri Subhash Chander is a Public company headquartered in New Delhi, Delhi India. As a Full Service Broker, Shri Parasram Holdings aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Shri Parasram Holdings operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.
| Overview | Shri Parasram Holdings |
|---|---|
| Broker Type | Full Service Broker |
| Type of company | Public |
| Headquarter | New Delhi, Delhi |
| Founders | Late Shri Subhash Chander |
| Foundation Year | 2007 |
| Supported Exchanges | NA |
| Total branches | Nil |
Shri Parasram Holdings Account opening charges
To begin trading with Shri Parasram Holdings, you need to open a trading account and a Demat account. Shri Parasram Holdings charges 0 for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs 385 per Annum or lifetime Rs 885 for the Demat account. However, it's worth mentioning that trading AMC is free.
| Account Opening and Demat Charges | Shri Parasram Holdings |
|---|---|
| Trading Account Opening Charges | 0 |
| Demat AMC (Annual Maintenance Charges) | Rs 385 per Annum or lifetime Rs 885 |
| Trading AMC (Annual Maintenance Charges) | Rs 350 + GST 18% |
| Margin Money | Minimum Rs.10,000 |
| Offline to Online Charges | Yes |
| Depository | CDSL |
Shri Parasram Holdings Brokerage Charges
One of the main factors to consider when choosing a stockbroker is the brokerage charges. Shri Parasram Holdings brokerage charges for various segments are as follows:
- Equity delivery: Shri Parasram Holdings offers free brokerage for equity delivery trades. This means you can buy and hold stocks without incurring any brokerage charges.
- Equity intraday: For equity intraday trades, Shri Parasram Holdings charges a flat rate of 0.02% – 0.04% per order.
- Equity futures: The brokerage charge for equity futures is also 0.02% – 0.04% or Rs. 50 minimum per order.
- Equity options: Shri Parasram Holdings charges 0.02% – 0.04% or Rs. 50 minimum per order for equity options trading.
- Currency: For currency futures and options trading, Shri Parasram Holdings charges 0.02% – 0.04% or Rs. 50 minimum per order.
- Commodity: The brokerage charge for commodity trading is 0.05% or Rs. 50 per Lot per order.
Equity Brokerage Charges
| Equity Brokerage Charges | Shri Parasram Holdings |
|---|---|
| Equity Delivery Brokerage | 0.20% |
| Equity Intraday Brokerage | 0.02% – 0.04% |
| Equity Futures Brokerage | 0.02% – 0.04% or Rs. 50 minimum |
| Equity Options Brokerage | 0.02% – 0.04% or Rs. 50 minimum |
Currency Brokerage Charges
| Currency Brokerage Charges | Shri Parasram Holdings |
|---|---|
| Currency Futures Brokerage | 0.02% – 0.04% or Rs. 50 minimum |
| Currency Options Brokerage | 0.02% – 0.04% or Rs. 50 minimum |
Commodity Brokerage Charges
| Commodity Brokerage Charges | Shri Parasram Holdings |
|---|---|
| Commodity Options Brokerage | 0.05% or Rs. 50 per Lot |
Shri Parasram Holdings Other Charges
In addition to brokerage charges, there are other charges to consider:
- Minimum brokerage charges: Shri Parasram Holdings imposes a minimum brokerage charge of Customizable.
- Transaction brokerage charges: A customer incurs transaction brokerage charges, which amount to 0.00325% of Total Turnover of the total turnover.
- SEBI turnover charges: Securities and Exchange Board of India (SEBI) levies turnover charges, which are 0.0002% of Total Turnover.
- Stamp duty charges: Stamp duty charges differ based on the state and the specific category of asset.
- GST charges: A GST of 18% of (Brokerage + Transaction Charges) is applied to brokerage and transaction charges.
- STT (Securities transaction tax): Shri Parasram Holdings charges 0.0126% of Total Turnover of the total turnover as STT.
- Call and trade charges: If you place orders through call and trade, Shri Parasram Holdings charges NA.
| Other Brokerage Charges | Shri Parasram Holdings |
|---|---|
| Minimum Brokerage Charges | Customizable | Transaction Brokerage Charges | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | Call and Trade Charges | NA |
Shri Parasram Holdings Equity Leverage
Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Shri Parasram Holdings:
| Equity Leverage | Shri Parasram Holdings |
|---|---|
| Equity Delivery | Upto 2x | Equity Intraday | Upto 6x | Equity Futures | Upto 3x | Equity Options | Upto 4x |
Shri Parasram Holdings Currency Leverage
| Currency Leverage | Shri Parasram Holdings |
|---|---|
| Currency Futures | Upto 2x | Currency Options | Upto 2x |
Shri Parasram Holdings Commodity Leverage
| Equity Leverage | Shri Parasram Holdings |
|---|---|
| Commodity | Upto 2x |
Shri Parasram Holdings Offers
Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:
| Offers | Shri Parasram Holdings |
|---|---|
| Free Stock Trading Account | Yes | Free Demat Account | Yes | Flexible Plans | Yes | Brokerage Discounts | Yes | Happy Hours | No | 1 Month Free Plan | No | Holiday Offers | Yes | Referral Program | Yes | Zero Brokerage on Loss Trades | No |
Shri Parasram Holdings Features
- Discount Broker:
Shri Parasram Holdings is a leading online stock broker in India that offers discount brokerage services to retail investors. It charges a flat rate of Customizable per order executed, regardless of the trade size, segment, or exchange.
- Range of Investment Products:
Shri Parasram Holdings is a one-stop shop for various financial investment products. It allows investors to trade in equity, commodity, and currency at BSE, NSE, and MCX. Additionally, it offers investment options in mutual funds, gold, peer-to-peer lending, insurance, and US investments.
- Subscription Plans:
Shri Parasram Holdings provides three subscription plans: Basic pack, power investor pack, and ultra trader pack. These plans offer different benefits, including reduced brokerage fees, free trades, research advisory, and dedicated customer support.
- Research and Advisory Services:
Shri Parasram Holdings stands out by offering exhaustive research and advisory services. It provides short-term and long-term investment ideas, derivative strategies, and portfolio-based investment ideas. The platform also offers a portfolio analyzer tool to analyze the performance of your investments.
- Margin Funding:
Shri Parasram Holdings provides margin funding services. These enable you to make partial payments for your purchases in the cash segment. The balance is funded by Shri Parasram Holdings at a nominal rate.
- Mobile Trading App and Trading Platforms:
Shri Parasram Holdings provides a user-friendly mobile trading app, a web-based trading website, and an installable trading terminal. These platforms are built on the latest technology and offer seamless trading experiences. The mobile app allows trading, robo-advisory, and access to various investment options.
- Demat Account Services:
Shri Parasram Holdings offers demat account services through its membership with CDSL. It has been recognized as a premier depository participant by CDSL.
- Low Charges:
Shri Parasram Holdings is known for its lowest charges in the industry. It charges a flat fee of 0.02% – 0.04% per order executed, and the platform also offers value-add packs for additional benefits. Additionally, 5Paisa provides free account opening and brokerage-free mutual funds.
- Algo Trading and Robo Advisory:
Shri Parasram Holdings provides algo trading services and robo-advisory to its customers. These services help automate trading strategies and offer personalized investment advice based on risk profiles and return expectations.
- Customer Support:
Shri Parasram Holdings offers dedicated customer support for its subscribers. The power investor pack and ultra trader pack include free customer support services.
| Features | Shri Parasram Holdings |
|---|---|
| Equity Delivery Trading | Yes | Equity Intraday Trading | Yes | Equity Futures Trading | Yes | Equity Options Trading | Yes | Currency Trading | Yes |
| Commodity Trading | Yes | IPO (Initial public offering) | Yes | Stocks Suggestions | No | Robo Advisory | Yes | PMS (Portfolio Management Services) | No |
| Trading Institution | No | Trading Exposure | Upto 20x | Mutual Funds | Yes | SIP (Systematic Investment Plan) | No | Forex Trading | No | Banking | No | Insurance | No |
Shri Parasram Holdings 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.
| Services | Shri Parasram Holdings |
|---|---|
| Fundamental Reports | Yes |
| Research Reports | Yes |
| Company Reports | Yes |
| Annual Reports | Yes |
| Company Stock Review | Yes |
| Free Stock Tips | Yes |
| IPO Reports | Yes |
| Top Picks | Yes |
| Daily Market Review | Yes |
| Monthly Reports | Yes |
| Weekly reports | Yes |
| Offline Advisory | Yes |
| Relationship Manager | Yes |
Shri Parasram Holdings Trading Platforms
The Shri Parasram Holdings 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.
Shri Parasram Holdings Trading Platforms
| Desktop Trading Platforms | Shri Parasram Holdings |
|---|---|
| Windows | Yes |
| Mac | Yes |
| Desktop Browser | Yes |
Shri Parasram Holdings Mobile App
The Shri Parasram Holdings 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 App | Shri Parasram Holdings |
|---|---|
| Mobile Browser | No |
| Android App | Yes |
| iOS App | Yes |
| Windows App | No |
| Other mobile os | No |
Shri Parasram Holdings Web Trading
For web-based trading, Shri Parasram Holdings offers a powerful trading website known as Shri Parasram Holdings 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.
Shri Parasram Holdings Trade Terminal
Shri Parasram Holdings 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.
Shri Parasram Holdings Customer Support
- Relationship manager: Yes, Shri Parasram Holdings does offer a dedicated relationship manager for customers. However, they provide other channels for support.
- Offline trading support: Yes, Shri Parasram Holdings does offer offline trading support. All trading activities are conducted online.
- Online trading support: Shri Parasram Holdings provides online trading support to customers. Their trading platform is accessible via mobile app, web browser, and desktop application, allowing customers to trade conveniently.
- 24*7 support: Shri Parasram Holdings provides extensive customer support to assist customers during regular business hours. You can easily connect with their dedicated support team for any assistance you may need.
- Email support: No, customers cannot contact Shri Parasram Holdings’s customer support team via email for assistance. They do not provide an email address for customers to send their queries and concerns.
- Chat support: Shri Parasram Holdings does not currently offer chat support as a customer service channel. However, customers can reach out through other available channels.
- Toll-free number: Shri Parasram Holdings does not provide a toll-free number for customer support. However, they may have a regular helpline number that customers can use to seek assistance.
- Support branches: Yes, Shri Parasram Holdings has physical support branches where customers can visit for assistance. In addition, customer support is also provided through remote channels.
| Customer Support | Shri Parasram Holdings |
|---|---|
| Relationship Manager | Yes |
| Offline Trading | Yes |
| Online Trading | Yes |
| 24 * 7 Support | No |
| Email Support | No |
| Chat Support | No |
| Toll free number | No |
| Support Branches | 350 |
Shri Parasram Holdings 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 Shri Parasram Holdings.
| BSE Complaints | Shri Parasram Holdings |
|---|---|
| BSE Complaints | 5 |
| BSE Resolved Complaints | 5 |
| Percentage of resolved BSE complaints | 100.00 % |
| NSE Complaints | 12 |
| NSE Resolved Complaints | 12 |
| Percentage of resolved NSE complaints | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % |
Conclusion
In conclusion, Shri Parasram Holdings 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, Shri Parasram Holdings can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.