iTrade Angel Broking is something which Angel Broking is using to enter into the foray of flat-brokerage charges. This stockbroker, since its inception in the year 1987, has capitalized on the full-service segment and is now from 1st April 2019 is experimenting with a flat-brokerage scheme for its clients.
The dynamics of the overall stockbroking space in India have been gradually shifting towards flat-brokerage charges over the last few years.
This momentum shift has been understood by the mainstream brokers such as Axis Direct and now Angel Broking.
The latter has come up with the iTrade Angel Broking plan where the client does not need to pay brokerage charges as a percentage of his/her trading turnover. Under this plan, there will be a flat brokerage rate charged irrespective of the trade value.
We talk to a lot of traders and investors regularly who would open a Demat account with a full-service broker and also with a discount broker.
With this arrangement, such traders will take the tips and research from the full-service broker and use those to place trades in the market through the discount broker.
With this, although, the full-service broker was successful in acquiring the client, the broker gets limited or no revenue from such traders.
Now, with a plan such as Angel iTrade, full-service stockbrokers bring a competitive edge too, especially at the intraday trading level.
Well, adding Prime to the Angel iTrade plan makes it look a bit premium, at least to us :).
On the contrary, Angel iTrade Prime plan is pretty light on the pocket. To position itself better, the broker has kept minimum entry hurdles while introducing this brokerage plan. There is no requirement of an initial deposit under iTrade Angel Broking and the AMC (Annual maintenance charge) is free for the first year.
From the second year, the AMC stands at ₹450 per year. However, with higher trading deposits, these Angel Broking charges can still be re-negotiated.
Angel iTrade Charges
As far as the brokerage is concerned under Angel iTrade plan or just Angel iTrade Prime (whatever you prefer to call it), here are a couple of slabs:
If the order size is ₹50,000 or less, then you need to pay a flat brokerage charge of ₹15.
If the order size is more than ₹50,000, then you need to pay a flat brokerage charge of ₹30.
No confusions, right?
Furthermore, these brokerage charges are applicable across trading segments including Equity Delivery/Intraday, Commodities, Derivatives, Currency trading, etc.
Another thing, when it comes to options trading, the overall order value is calculated by multiplying Strike Price + Premium with the lot size.
Here are the complete details:
Account Opening Charges
Annual Maintenance Charges (AMC)
₹0 First Year ₹450 from Second Year
Brokerage for Order Value <= ₹50,000
Brokerage for Order Value > ₹50,000
Call and Trade Trade
Online Fund Transfers (Net Banking/UPI)
Franking, KRA, eSignature Charges
Transaction Charges For Sell (Debit ) & Inter-Settlement Debit Per Transaction
Apart from the regular brokerage charges, there are account maintenance charges that you need to take care of as well. For the first year though, the broker takes the charge off for you but from the second year onwards, you need to shell out INR 450 on a yearly basis to maintain your account with the broker.
For more information, you can check this detailed Angel iTrade Brokerage Calculator to find out all sorts of charges levied along with the profit or loss you make in a trade.
For any other doubts, you can check the details here too.
Once your Angel iTrade account activation is done, the next thing you got to do is login into the corresponding trading application. The login process to iTrade Angel Broking is pretty straightforward too.
Remember to check your registered contact details for the credentials and if in case you have not received that crucial piece of information, it is highly recommended that you get in touch with the Angel Broking Customer care team.
Angel Broking iTrade Prime Plan Benefits
Well, as of now, it’s all beneficial for the client since they need to pay a flat brokerage charge and in lieu of that, they will get the services of a full-service stockbroker.
Since there are no pre-requisites of an initial deposit under iTrade Angel Broking, thus, a small beginner investor has almost nothing to lose while opening a trading account with Angel Broking.
In a sense, you are buying a Mercedes at a price of a Toyota. Oversaid it?
Well, yea, maybe we did. But you get the essence, right? The point here is you get to avail premium services of a full-service stockbroker at the price of a discount broking one.
Angel Broking iTrade Prime Plan Problems
The risk or concern is majorly at the broker level since this ‘experiment’ may or may not work for them. However, if it works, it’s a win-win for both the broker and its respective clients.
If in case it does not work for brokers such as Angel Broking, well, they still have a successful business model to go back to.
Update 2021: It has worked for both, the stockbroker, as well as the client base, and Angel Broking, which has seen a sky-rocket surge in its client base over the last few months.
Nonetheless, if you are looking to start trading in the stock market, let us assist you in taking the next steps forward:
More on Angel Broking
If you wish to learn more about this stockbroker, here are a few references for you: