There are more than 250 registeredstockbrokers in India each offering a set of values to their potential clients. Some clients look for trading platforms, some for low brokerage, few for quick customer service and so on. However, when it comes to the ‘Trust‘ factor, the majority of the clients would want to have that as one of the top priorities.
Is Angel Broking Safe – Review
So how do you figure out whether the stockbroker is trustable or not?
Well, there are various factors that you can actually check first before opening a demat account and putting in your hard-earned money in it. Here are those listed:
Number of active clients with the broker
When was the broking company established?
Management experience and background of the company
Performance of trading platforms offered
There could be few other factors you may look at, however, the above-mentioned aspects cover the majority of the primary areas you must keep an eye on.
Coming to the point that Is Angel Broking Safe for your share market investments or not, let’s pass the stockbroker through these areas and see how the broker fares.
How many Active Clients does Angel Broking have?
If we see the list of the stockbrokers in India in terms of active clients, Angel Broking easily falls among the Top 10 stockbrokers (#7 to be precise). Figuratively speaking, here is a quick look at Angel Broking’s active client base in the last few months:
Month of 2018
No. of Active Clients
%age Increase/Decrease MoM
From the table above, it can be concluded that Angel Broking has been pretty active in terms of client acquisition. Although there has been a tad slide recently, still the number of active clients in excess of 3.75 Lakh easily puts them among the top names within the stockbroking space in India.
Thus, without a doubt, the broker gets a green tick on this aspect.
When was Angel Broking Established?
Angel Broking is one of the oldest names in the share market industry in India. It was established back in the year 1987 when trading used to happen through physical files and there was more than a decade to go before online trading got to be introduced.
The broker gained a decent momentum through its wide offline reach via its sub-broker and franchise offices. Even today, Angel Broking has an offline presence of around 10,000 offices across different parts of India.
Thus, from the experience in the industry perspective as well, calling Angel Broking safe won’t be incorrect.
Complaint Percentage of Angel Broking
In case there is some issue related to the demat account or trading account, fund transfers, unauthorized trading etc, a client has the right to file a complaint against the stockbroker at SEBI.
Before we talk about the complaints raised against Angel Broking, this needs to be known that lower the complaint percentage, better is the performance of the broker.
Let’s look at some of the stats released by the National Stock Exchange of India in terms of the average Industry complaint percentage along with the complaint percentage of Angel Broking in the last 5 years.
2014-15: Industry Average: 0.13%, Angel Broking: 0.12%
2015-16: Industry Average: 0.09%, Angel Broking: 0.16%
2016-17: Industry Average: 0.06%, Angel Broking: 0.14%
2017-18: Industry Average: 0.08%, Angel Broking: 0.09%
2018-19: Industry Average: 0.01%, Angel Broking: 0.01%
Out the last 5 instances, there have been 2 occasions when Angel Broking’s complaint percentage was equal to or less than the Industry average. This is not a good news for the broker and certainly, Angel Broking needs to work very closely on this aspect.
Although the broker was able to successfully close most of the complaints raised, nonetheless, getting a complaint in the first place is a certain turn-off. Thus, from the complaints perspective, Angel Broking does not leave a positive vibe.
Angel Broking Management and Experience
Like mentioned above, Angel Borking is one of the oldest stockbroking companies in India. It was founded by Dinesh Thakkar in 1987 and he still handles the Managing Director role of the company.
With a decent experience in the industry, Dinesh Thakkar with its executive team has taken the stockbroking company to various heights. Be it in terms of the number of franchise offices, active client base, employee base, technology innovation (through trading platforms) etc, the broker has definitely increased its brand equity in the last 3 decades or so.
Performance of Trading Platforms
Finally, if we talk about the performance of the trading platforms – there are multiple aspects that need to be seen. You must check the following:
Speed, especially at average internet connection speed
Definitely, the broker provides a variety of applications. As far as speed and the number of features are concerned, Angel Broking’s applications are high performance and are pretty exhaustive in its features.
The web-based trading application of the broker is responsive in nature and offers a decent user experience to all types of traders.
The mobile app, however, has room to improve in terms of its processing speed, especially in areas where the internet speed is not that high.
Still, on an overall basis, the trading applications from this stockbroking house are pretty neat and high performance.
In conclusion, looking at the different aspects that we mentioned at the start of this article, Angel Broking certainly seems to be a safe stockbroker. Having said that, you need to make sure that you are keeping a close eye on your transactions, your account information, your trading account balance on a regular basis.
This advice, however, is applicable for a trading account with any stockbroker.
Finally, in case you are looking to open a demat account now, just fill in the details below.
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