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Alankit Assignments Limited is a part of a conglomerate with eight companies under the umbrella. Alankit Assignments, as a full-service stockbroker, specifically deals in financial and share broking services. It is the flagship company which was incorporated in 1995 with its head office in Delhi.
In the last 24-25 years, the financial house has come a long way and widened its products & service base along with the overall clientele.
Apart from the investment space, the firm has been one of the top choices of the government for public projects, siting itself as a trustable brand in the industry.
Alankit Assignments Review
The services range from offline and online trading in equity, futures and options, commodities, currency, debt market, interest rate futures, institutional broking and portfolio management services.
The equity broking services are across NSE, BSE, USE and MCX-SX and commodity broking is across NCDEX, MCX, NMCE, DGCX, ICEX, IEX, NSEL and ACE. The company also provides provisions for electronic trading in silver and gold. It is also a depository participant on NSDL and CDSL.
In the wealth management segment, the company provides investment advisory services and products like mutual funds, bonds, IPOs and fixed deposits.
Alankit Assignments Active Clients
The active clients of Alankit Assignments are 21,237 as of 2019. The clients are mostly long-term client and the relationships are well maintained.
The company has a sizeable volume of retail, HNI and corporate clients.
Alankit Assignments Products & Services
Alankit Assignments provides a wide array of products and services. In terms of Equity, the company and its staff ensure risk management and safe returns for its clients. Alankit has a membership of all major stock exchanges and deals in cash, futures, options and derivatives.
As per the broker, the present turnover is around ₹30,000 crores and an average daily turnover of ₹200 crores.
In the Derivatives segment, Alankit provides a platform to enter the derivative trading market in stock futures, commodity futures and currency futures.
For Currency Trading, Alankit provides investment opportunities across 4 currencies and enjoy a portfolio with a new asset class as Forex.
Alankit Assignments also provides Arbitrage services and provides training, infrastructure and assistance to the clients and associates. Alongside, the company also provides risk-free and prompt depository services. For hassle-free delivery, NSDL Speed-e and CDSL Easiest services are also provided to the clients.
Other products and services include mutual funds, life and general insurance, institutional equity research services and wealth management services.
Alankit Assignments Trading Platforms
The various platforms provided by Alankit Assignments include:
iNetnetlite- the web platform
iNetnetlite is a robust platform with a sophisticated infrastructure, and it runs on Microsoft platforms. It provides the comprehensive infrastructure required by the traders for internet commerce, with an option to integrate existing websites.
The platform also provides investors with real-time market data and trade reports.
Odin Diet is a trading application for active retail traders. It has a lot of excellent features that are used by active traders, like anytime trading facility, speedy performance and very low bandwidth requirement.
The quotes are accessible on a real-time basis and the platforms can directly be used for buying and selling orders on the exchanges.
Alankit Easy Trade
Easy Trade is the mobile trading app of Alankit Assignments. It is a good app with various features, being light and smooth. The market can be accessed on the go and all transactions can be done with the touch of a finger.
Here are a few stats of this mobile app from the Google Play Store:
Alankit Assignments Customer Care
Alankit Assignments is very dedicated to its customers. The customers are provided with excellent services and they are taken care of in all ways possible. It has a sound reputation in the industry and has attracted and retained a lot of clients.
The clients can connect with the advisors and brokers through emails, phone calls and online Help Desk services. The company has dedicated Customer Help Desks and Relationship Managers.
Alankit Assignments Pricing
Let’s now talk about the different charges you will end up paying to the stockbroker across your trading journey:
- The account can be opened with a ₹100 bond.
- There are 2 options for maintaining the account, either by paying ₹420 each year or by taking a plan for ₹1180 which has no annual charges.
Alankit Assignments Brokerage
Here are the details of the brokerage charges you will be paying on your trades. Understand this – the slang/language the stockbroker executives use is “paisa”. Something like 10 paise, 1 paisa and so on. What they actually imply from that is 10 paisa equals 0.10% of your trade value and 0.01% of your trade value respectively.
Don’t imagine you will be charged 10 paise or 1 paisa literally on your trades.
In the case of Alankit Assignments, here are the brokerage values you will end up paying:
- Brokerage charged by Alankit Assignment is 0.04% for intraday and 0.4% for delivery trading.
- The brokerage percentage can be lowered to 0.03% and 0.3% if the client maintains the trading well for some time.
Here is a quick summary of brokerage charges levied by this stockbroker across the segments:
Check this Alankit Brokerage Calculator for more information on brokerage, taxes, GST, Stamp duty etc.
Alankit Assignments Margin
When it comes to exposure, these are the limit values you will get when you choose Alankit Assignments as your stockbroker:
- The exposure provided is quite less.
- It is about 2 times the credit balance for intraday trading with no exposure for delivery trades.
- If you are looking to invest in the futures segment, you may get 4 to 5 times of limit on your trades.
Here is a quick summary of the margin provided by Alankit Assignments to its clients:
This also needs to be understood that exposure or limit, as a provision, can be risky and must only be used if you understand the implications around its usage.
Alankit Assignments Advantages
Here are some of the benefits of using Alankit Assignments as your stockbroker:
- The company is known for its trusted and ethical business practices.
- It provides both online and offline trading facility, with the latest technology.
- The platforms are easy, seamless and fast. The platforms also have comprehensive coverage for a variety of transactions and activities.
- The online trading platforms provide real-time quotes, data and hassle-free and secure transactions.
Alankit Assignments Disadvantages
At the same time, here are some of the concerns you must be aware that this stockbroker brings along:
- The location of offline offices is restricted to a few states only.
- The mobile application does not have good customer reviews. It can be improved to a large extent.
- The brokerage charged is quite high in comparison with the competitors.
- The leverage provided is low, according to the industry standards.
Alankit Assignments Membership Information
Here are the details of Alankit Assignment’s membership with different regulatory bodies in the stockbroking space:
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Alankit Assignments Branches
Alankit Assignments has three branches in Punjab in Amritsar, Chandigarh and Ludhiana, two branches in Haryana in Gurgaon and Faridabad, two branches in Delhi, four branches in Uttar Pradesh in Bareilly, Ghaziabad, Lucknow and Noida and one branch in Rajasthan in Jaipur.
The company also has one branch in Gujarat in Ahmedabad, one in Madhya Pradesh in Indore, one in Bihar in Patna, one in Jharkhand in Ranchi, one in West Bengal in Kolkata, two branches in Maharashtra in Mumbai and Pune, one in Karnataka in Bangalore.
Finally, the stockbroker has a presence as one in Orissa in Bhubaneswar, one in Assam in Guwahati, two in Andhra Pradesh in Hyderabad and Visakhapatnam, one in Kerala in Cochin and one in Tamil Nadu in Chennai.
Alankit Assignments also has branch offices in Dubai, London and Singapore.
More on Alankit Assignments
If you wish to learn more about this full-service stockbroker, here are a few references: