Choice Broking is a Mumbai based full-service stockbroker of India, established in the year 2010. This stockbroker is a member of NSE, BSE, MCX-SX, MCX, NCDEX along with registration of CDSL. They got their corporate office in 2011 and currently have an employee range of around 600 in total. Being a full-service stockbroker, Choice Broking provides regular research and tips to its clients for intraday as well as fundamental research.
The research quality, although, is just average and it is advised that clients perform their own analysis as well to validate the learnings from the research team of the full-service stockbroker.
Using its services, you can trade or invest in the following segments:
CA Kamal Poddar, Managing Director – Choice Broking
Choice Broking Trading Platforms
Choice Broking offers in-house developed browser-based application Investica and a mobile application Choice Index for its clients. In terms of the terminal based software, the full-service stockbroker does not have an in-house solution and rather offers ODIN terminal software.
Let’s discuss these trading platforms one by one in length:
Choice Index Mobile App
Choice Broking offers a decent performing mobile application to its clients across Android and iOS operating systems.
The app comes with the following features as mentioned below:
Real-time feed from the indices available across multiple data points of scrips
Charting with technical indicators for analysis
Payment integration with 27 banks
Provision to create multiple watchlists
Tips, research reports and recommendations available
After Market Orders (AMO) allowed.
Here are some of the screenshots of Choice Index for reference:
At the same time, there are few concerns raised by the clients about this mobile application, as listed below:
Overall user experience, especially for beginner level traders can be optimized
The app hangs and freezes at times, especially for users who perform multiple operations at once
No interface available for live market news, a basic feature a mobile app MUST have
Here are the stats from the Google Play store around the performance of Choice Index Mobile app:
Number of Installs
Mobile App Size
Negative Ratings Percentage
Choice Investica is another in-house developed trading application from Choice Broking which is basically a browser-based trading platform. This application can be used from any browser (be it Internet Explorer, Google Chrome, Mozilla Firefox or Safari) and any particular device (be it Laptop, Computer, Phone, Tab).
Choice Investica is a lightweight application which is responsive in nature. That means it gives a flexibility to clients that they can access it from anywhere and any device, for that matter.
Users need to browse a specific link, provide username and password and start trading. Some of the features of this application include:
Optimal user experience and decent design
Trade or invest across multiple segments using a single application
News and real-time charting available for analysis
Multiple types of orders allowed include After Market Orders (AMO) that can be placed after the market closes for the day.
This is how the application looks like:
From the outset, the application looks to be cleanly designed with optimal usage of colour coding, and thus, offering a decent look and feel to the overall layout.
Then comes the terminal based trading platform, ODIN (developed and maintained by Fintech or Financial Technologies) which has been there for a while and is used by multiple stockbrokers for their clients. ODIN Diet allows you to trade across multiple commodities such as Equity, Commodity, Currency, Derivatives etc. Here are some of the features of this terminal based application:
Allows users to develop and run multiple strategies for their technical and fundamental level trades.
This trading application is pretty exhaustive in terms of the number of features, especially for analysis.
Built-in features and intelligence that allows clients to look for market opportunities.
The only concern with the usage of out-sourced trading applications such as ODIN Diet is that the control of the addition of new features or facilitating of fixing bugs or issues raised by clients through comments and feedback do not get incorporated quickly. The whole process is a tad complicated and involves multiple parties before it finally happens if it happens.
This is how ODIN Diet dashboard looks like:
Choice Broking Branches
The full-service stockbroker has limited offline coverage with a presence in the following locations of India, including:
Choice Broking Pricing
As far as pricing is concerned, Choice Broking charges a reasonable brokerage across segments. As far as account opening is concerned, there are multiple plans in placed and users, depending on their commitment level, can pick a plan. Here are the complete details:
Choice Broking Account Opening Charges
Here are the details of the multiple account opening plans offered by the full-service stockbroker. There are 4 plans in total and these plans differ in terms of the number of years commitment a client can make with the broker.
Life Time Free AMC + Refundable Deposit
Life Time Free AMC
AMC Free for 3 Years
Per Year (₹500 Additional for PoA)
Choice Broking Brokerage Charges
As far as brokerage is concerned, here are the charges based on the trade value. The percentage shown in the plans below is used to calculate the brokerage. For instance, the delivery brokerage is 0.20% – that implies that if a client trades for ₹1,00,000 on the stock market then he/she is required to pay a brokerage of 0.20% of ₹1,00,000 i.e. ₹200. There are few transaction charges and taxes as well in addition to the brokerage rate but that is applicable to all the stock brokers in India.
Here are the complete details of multiple segments of trading offered by Choice:
These are the details on the transaction charges levied by Choice to its clients. The values are pretty standard in terms of the overall industry benchmarks:
Choice Broking Exposure or Leverage
Users looking for Exposure or Leverage from Choice Broking can expect an average range of values. The exposure values will be minimal at the same but by time, as the user gains some momentum and brings consistent growth in his/her portfolio, then these exposure values can be negotiated. Here is what Choice Broking offers:
Upto 10 times for Intraday, & 2 times for Delivery
Upto 3 times Intraday
Upto 2 times Intraday
Upto 2 times Intraday
Upto 2 times Intraday
Upto 3 times Intraday
Disadvantages of Choice Broking
There are few concerns as well when it comes to opening an account with the full-service stockbroker. Here are few listed below:
No in-house desktop based terminal application
Average Customer service
Not so high exposure values offered
Below average brand recall.
Okayish accuracy of research reports and recommendations
Advantages of Choice Broking
At the same time, here is what clients of Choice Broking enjoy using the services of this full services stock broker:
Decent range of trading and investment products
Good Trading platforms
Multiple account opening and maintenance charge plans
Looking to Open an account?
Provide your details in the form below and we will set up a callback for you, right away.
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.
You can check out the detailed comparison of Choice Broking Vs Other Stock Brokers here: