Reviews of Stock Brokers


Veracity Finance

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 Veracity Finance, 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

Veracity Finance founded in 2012 by Kanaksinh Agarsinh Gohil is a Private company headquartered in Ahmedabad GJ India. As a Full Service Broker, Veracity Finance aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Veracity Finance operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewVeracity Finance
Broker TypeFull Service Broker
Type of companyPrivate
HeadquarterAhmedabad GJ
FoundersKanaksinh Agarsinh Gohil
Foundation Year2012
Supported ExchangesNA
Total branchesNil

Veracity Finance Account opening charges

To begin trading with Veracity Finance, you need to open a trading account and a Demat account. Veracity Finance charges Free for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.350 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesVeracity Finance
Trading Account Opening ChargesFree
Demat AMC (Annual Maintenance Charges)Rs.350 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyMinimum Rs.5,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Veracity Finance Brokerage Charges

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

Equity Brokerage Charges

Equity Brokerage ChargesVeracity Finance
Equity Delivery Brokerage0.35%
Equity Intraday Brokerage0.04%
Equity Futures Brokerage0.04%
Equity Options BrokerageRs.35 per lot

Currency Brokerage Charges

Currency Brokerage ChargesVeracity Finance
Currency Futures Brokerage0.04%
Currency Options BrokerageRs.35 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesVeracity Finance
Commodity Options Brokerage0.04%

Veracity Finance Other Charges

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

Other Brokerage ChargesVeracity Finance
Minimum Brokerage ChargesPercentage of Transaction
Transaction Brokerage Charges0.00315%
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

Veracity Finance Equity Leverage

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

Equity LeverageVeracity Finance
Equity DeliveryUpto 3x
Equity IntradayUpto 6x
Equity FuturesUpto 2x
Equity OptionsUpto 5x

Veracity Finance Currency Leverage

Currency LeverageVeracity Finance
Currency FuturesUpto 4x
Currency OptionsUpto 3x

Veracity Finance Commodity Leverage

Equity LeverageVeracity Finance
CommodityUpto 2x

Veracity Finance Offers

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

OffersVeracity Finance
Free Stock Trading AccountYes
Free Demat AccountYes
Flexible PlansYes
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanNo
Holiday OffersYes
Referral ProgramYes
Zero Brokerage on Loss TradesNo

Veracity Finance Features

FeaturesVeracity Finance
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 6x
Mutual FundsNo
SIP (Systematic Investment Plan)No
Forex TradingNo
BankingNo
InsuranceYes

Veracity Finance 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.

ServicesVeracity Finance
Fundamental ReportsNo
Research ReportsNo
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsYes
Top PicksNo
Daily Market ReviewNo
Monthly ReportsNo
Weekly reportsNo
Offline AdvisoryYes
Relationship ManagerYes

Veracity Finance Trading Platforms

The Veracity Finance 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.


Veracity Finance Trading Platforms

Desktop Trading PlatformsVeracity Finance
WindowsYes
MacYes
Desktop BrowserNo

Veracity Finance Mobile App

The Veracity Finance 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 AppVeracity Finance
Mobile BrowserNo
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Veracity Finance Web Trading

For web-based trading, Veracity Finance offers a powerful trading website known as Veracity Finance 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.


Veracity Finance Trade Terminal

Veracity Finance 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.


Veracity Finance Customer Support

Customer SupportVeracity Finance
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches920

Veracity Finance 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 Veracity Finance.

BSE ComplaintsVeracity Finance
BSE Complaints3
BSE Resolved Complaints3
Percentage of resolved BSE complaints100.00 %
NSE Complaints11
NSE Resolved Complaints11
Percentage of resolved NSE complaints100.00 %
BSE/NSE Complaint vs. Resolved Percentage100.00 %

Conclusion

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