Angel Broking is an Indian Full Service Stock Broking company founded in the year 1987 and is headquartered in Mumbai.It is a depository participant with CDSL and is a member of the Bombay Stock Exchange (BSE),National Stock Exchange (NSE), National Commodity & Derivatives Exchange Limited (NCDEX) and Multi Commodity Exchange of India Limited (MCX).
When it comes to offline presence, the company has more than 8500 sub-brokers and franchise outlets in 900+ cities across India. As of now, it boasts of more than 1 Million clients in its lifetime till now. Thus, there are reasonable chances of you finding its office around your area, especially if you are living in 1st, 2nd or 3rd tier city.
“Angel Broking is known for the wide offline presence that it has been able to capture in last three decades of its establishment.
Started as a small broker, Dinesh Thakkar has been a remarkable personality in taking this full-service stockbroking house to multiple levels of growth.”
Angel Broking Trading Platforms
In this Review, we will talk about different trading platforms such as the mobile App/Web and Angel SpeedProfor online trading. Where Angel Broking App is a recently launched mobile app for online trading, this web-based application is an extension of their previous browser trading platform Angel Eye.
SpeedPro, at the same time, is a conventional trading platform software that you can download on your desktop or laptop for online trading. Here are the details:
This mobile app has been recently launched and is powered by ARQ – a Hi-tech auto advisory engine. ARQ helps users to stay invested in the top performing stocks and mutual funds, while the smarter trading platform makes online trading pretty simple.
There are few innovative features such as faster stock-tracking with multiple watch lists, auto news updates & real-time fund transfer-ability through multiple banks.
Angel Broking Web is an extension to the earlier browser trading platform ‘Angel Eye’. This browser-based trading platform has been there for a while now. The user does not need to install anything while using this platform and can trade directly through a web browser. Some of the features of this Web application include:
Track investments across all asset classes and for your entire family from single place
Access latest market data, News as well as Angel research
Easy to use & intuitive navigation with custom authentication for added security.
Multiple exchanges, hi-speed trading platform with streaming quotes.
Angel Wealth is basically an investment management mobile app from Angel Broking. The app allows you to plan out your investment goals, recommends you equity and MF investments based on ARQ – the recommendations engine from this full-service stockbroker.
Some of the features of Angel Wealth are:
Shows your current holdings and positionings across different financial products
Allows you to open a Big savings account which gives potentially higher returns as compared to a standard savings account.
The mobile app is sleekly designed and is optimal for beginner users as well.
Angel Broking, being a full-service stockbroker, has higher expectations from its client base when it comes to quality and speed of resolutions. The broker provides the following communication channels for clients in order to reach out to it:
Online Customer Service Centre
Offline Branches (Sub-brokers and Franchise offices)
When it comes to the ground reality though, Customer Service is one of the biggest concern for this full-service stockbroker. Be it any aspect such as Quality of Service, Communication Protocol, Time taken for issue resolution – the service level is below average. Thus, it becomes super-important for this full-service stockbroker to make sure their service lives up to the brand they are looking to create for their clients.
Angel Broking Funds Transfer
There are 4 different ways through which clients can transfer funds from their bank account to their trading account. Below are those listed:
You can transfer funds to your trading account using any of the trading platforms such as Angel Broking Web, Angel Broking Mobile App or Angel Speed Pro. Using these softwares, you can transfer funds from more than 40 banks in India.
Angel Back Office
Apart from the trading platforms, the back office can also be used to transfer your funds into your trading account with the broker.
Clients can also use Demand draft along with the requisite documents for the funds’ transfer process.
You can drop a cheque from any of your linked bank accounts with the broker. However, this process takes few business days for the funds to get transferred.
Angel Broking Pricing
Here are the details of different account opening charges:
Trading Account Opening Charges
Demat Account Opening Charges
Trading Account Annual Maintenance Charges
Demat Account Annual Maintenance Charges
Get Free Lifetime Demat and Trading Account with AMC
Pay ₹1500 subscription and get Annual maintenance charge (AMC) free forever as long as your account stays active with Angel Broking.
Trading Brokerage depends on the kind of trading plan a customer chooses.
Being a full-service stockbroker, it charges its clients a percentage based commission. This basically implies that depending on your trade value a specific percentage will decide the actual brokerage you are going to pay for that particular trade.
For instance, if you are trading for ₹1,00,000 at the delivery level and your brokerage percentage is 0.40%, that would mean you are going to pay ₹1,00,000 X 0.40% or ₹400 as the brokerage for that particular trade.
Angel Broking Brokerage Plans
There are 4 different brokerage plans to choose from Angel Broking. A user depending on the initial capital he or she is looking to put in can pick a plan:
This is a beginner’s plan for people who are looking to test the waters in the stock market. The customer needs to pay an amount (margin money) of ₹10,000 at the time of opening the account. This amount is used by the customer for trading once the account gets activated. AMC of ₹450 starts from the first year itself.
Get Flat 20% discount on brokerage for all online trading and Free SMS advisory services for 3 months from Angel Broking by filling the form at the end of this page.
This plan requires the customer to pay a margin money of ₹25,000 and since the initial amount paid is higher than paid in Angel Classic plan, the commission or brokerage charges are relatively less. AMC of ₹450 starts from the second year with first-year AMC free.
Any customer who pays margin money of anywhere between ₹50,000 to ₹99,999 – he or she qualifies for Angel Premier plan. AMC of ₹450 starts from the third year with first two years AMC free.
“There is a minimum brokerage clause of ₹30 when you trade through Angel Broking. Whatever be your trade value, you will be required to pay ₹30 as minimum brokerage rate.”
Least brokerage is paid by the customers who put in initial margin money of ₹1,00,000 or more. AMC of ₹450 starts from the fourth year with first three AMC free.
The below table details out brokerage charges as per the amount deposited in the trading account:
Furthermore, you can certainly negotiate on the brokerage charges you pay to the broker. This depends on a couple of factors:
Your initial deposit
Your negotiation skills
If you are starting with ₹50,000 or more, then certainly you can get much lesser brokerage charges post a round or two of negotiations with the executive.
Angel Broking Transaction Charges
Apart from the brokerage charges, you, as a client are also required to pay few taxes and transaction charges. These charges are at percentage level and depending on your trade value, the actual monetary value gets calculated.
Please refer the below table to find details on the Leverage or Exposure provided:
Upto 10 times for Intraday Upto 3 times for Delivery
Upto 4 times for Intraday
Upto 3 times for Intraday Selling No Margin for Buying
Upto 2 times for Intraday
Upto 2 times for Intraday Selling No Margin for Buying
Upto 3 times for Intraday
How can You invest in IPO through Angel Broking?
There are a couple of ways in which you can invest in IPO (Initial Public Offerings) using Angel Broking services. Here are those listed:
The online process is pretty easy using the desktop trading application or the mobile app when it comes to IPO applications. You can also edit or modify your application using these trading platforms.
Then, there is the offline way in which you can visit the sub-broker or franchise office of this full-service stockbroker, fill in the ASBA form, provide information such as Bank account information, PAN number and Demat account.
Angel Broking Branches
Here are the different locations across states where the full-service stockbroker has the presence in:
Finally, in this Review, we will talk about Pros and Cons of Angel Broking. Here are those listed:
Angel Broking Disadvantages:
Well, there have been few concerns raised by different customers with their experiences. We have listed some of those here:
No brokerage calculator in place for customers to understand the total brokerage to be paid
Cases reported of few hidden charges
Customer service has a relatively higher turnaround time
Minimum Brokerage is ₹30 irrespective of your trade value.
Funds transfer from your trading account to a bank account is a cumbersome process and is not directly available through online platforms.
“Angel Broking has received around 337 complaints for the financial year 2016-17 at BSE and NSE. This is the highest number of complaints among all the stock brokers in India.”
Angel Broking Advantages:
Here are some of the benefits you will get if you open your demat and trading account through this full-service stockbroker:
Ever evolving trading platforms.
Introduction of new investment engine, ARQ that helps clients with stock predictions
A wide range of trading and investment products offered to clients.
Funds transfer provision available to more than 40 banks in India.
Huge offline presence with its sub-broker and franchise offices.
A prominent team of research experts providing market research reports, recommendations and tips.
“Angel Broking is a better than average full-service stockbroker of India. Although, it has shown a good amount of growth as far as technology is concerned, however, there is a lot that it can work upon when it comes to Customer Service. This particular area definitely needs an immediate attention from the broker.
Furthermore, from the positioning perspective, the broker does not seem to be sure about its positioning. Are they looking for medium to heavy scale traders only? And if they are open to beginners, then they certainly need to work on their pricing plans.”
How to open a Trading Account?
Enter Your details here:
Post this call, there are 2 ways to get started.
If you have an Aadhar card, then the account opening process can be completed in a few minutes.
Otherwise, you need to provide few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
Passport sized photograph
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Angel Broking Membership Information:
Here is the membership information of the broker with different exchanges and intermediate parties:
The details can be verified from corresponding websites of the exchanges.
Some Frequently Asked Questions About Angel Broking (FAQ):
How easy is it to open an Angel Broking account?
Its pretty easy to open an account with this full-service stockbroker, especially if you have Aadhar card. The account with this full-service stock broker can be opened within 4 hours, ideally.
Can students open a demat account in angel broking?
Yes, students can certainly open a demat account. At the same time, an income statement is a mandate to activate your demat account. If you do not have any income then there are other alternatives. Please fill in the form above to know more.
Can I invest in IPOs with Angel Broking?
Yes, IPO investment is possible.
Is there any Angel broking windows phone app?
No, as of now the broker provides only android and iOs version of mobile apps.
What is Angel Broking Eye?
It is the web-based trading platform from the full-service stockbroker. It can be accessed from any device and any browser. This web app is now known as Angel Broking Web.
What is Angel Broking ARQ?
ARQ is an automated recommendations engine introduced in 2016 by the full-service stockbroker. The broker claims that this engine runs on millions of data points and recommends stocks and investment products to clients based on their risk appetite, investment preferences, demographic information and more.
What is the employee strength of Angel Broking?
More than 7000. However, in the recent past, the broker has seen a lot of changes in its top management to go along with high attrition in the last 1 year or so.
How is Angel Broking Research?
The broker has been known for high-quality research with their expert team in the past. Recently, the broker has seen 2 heavy exits with two major research heads leaving the company (one each in technical and fundamental research). Thus, with the new team, the broker needs to prove its mettle in the coming time.
What kind of brokerage plans are offered by Angel Broking?
There are four plans offered by the full-service stockbroker – Classic, Preferred, Premier, and Elite. Your brokerage percentage is decided based on the plan you pick, which is further based on your initial trading amount deposit.
What are Angel Broking Demat Account Opening Charges?
0, based on the initial trading deposit you provide to the broker.
What are Angel Broking Demat Account Annual Maintenance Charges?
₹450. The amount can be further levied if you start with a reasonable trading account balance (at least ₹50k).
How is Angel Broking Customer Care Quality?
Although, this is a full-service stockbroker but it falls very short when it comes to delivering quality through its customer service. It has multiple communication channels such as Email, Toll-free number and support by the call but on the ground, the quality of communications, skill set of executives and turn around time can be improved.
How many branches does Angel Broking have?
The full-service stockbroker has a presence in around 900 cities of India with more than 8500 sub-broker and franchise locations.
Also, check out these detailed comparisons of Angel Broking Vs other stockbrokers: