Samco

SAMCO (formerly called Samruddhi Tradecom India Limited) is one of the Best discount brokers in India with the membership of BSE, NSE, MCX-SX, MCX, MSEI, and NCDEX. It is a registered brokerage firm with SEBI and CDSL.

Today, we present a SAMCO review to help you select the best broker for you.

So, let’s try to answer a fundamental question – What SAMCO is.

SAMCO REVIEW

SAMCO broker is one of the cheapest stock brokers charging a flat amount as brokerage (more on that later). Based out of Mumbai, SAMCO Securities allows its clients to trade across multiple financial segments, including:

• Equity
• Currency Trading
• Commodity Trading
• Listed Bonds
• ETFs

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The number of active clients is a critical aspect of SAMCO Review.

“By 2020, SAMCO has an active client base of 66,419.”

SAMCO is known to be a suitable stockbroker for beginners since it provides an exhaustive repository of introductory and intermediate tutorials on trading and investing.

Simultaneously, with low brokerage charges, this discount broker leaves a low chance of risk for beginners compared to other stockbrokers.

 

As it is a discount broker, it does not have an offline presence, but you have the option to become a referrer and get a percentage brokerage share for your referrals. Check this review on SAMCO Franchise for more information.

“Having said that, you’d realize by the end of the SAMCO review, that low brokerage is most probably the ONLY positive point about this stockbroker. Other than that, it fails to deliver much of value to its clients.”

                                                                 Jimeet Modi, CEO – SAMCO Securities

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SAMCO TRADING PLATFORM 

The discount broker offers SAMCO best trading platforms India necessary for SAMCO Review, across devices like desktop, mobile, or web application.  Let’s discuss each of these applications one by one:

SAMCO NEST TRADER 

SAMCO NEST trader is a terminal-based trading platform by the stockbroker. NEST is the short form of Next-generation Electronic Securities Trading.

The clients need to download and install the trading platform to go ahead with trading.

NEST trader software is highly popular among the traders. It facilitates trading in the prominent stock exchanges like BSE (Bombay Stock Exchange), NSE (National Stock Exchange), and MCX (Multi Commodity Exchange).

The trader can use the SAMCO trading login to commence the process of using the platform. Suitable for heavy traders, this terminal platform comes with the following features:

• Regular Market watch
• Segregated market watchlists.
• Snap Quote trading feature explains the movements of a particular stock and current buyers’ and sellers’ current price and several stocks offered.
• Funds transfer
• Cover orders, View RMS margin, Capital, or Limits.

Also, know about the SAMCO Bracket Order, and SAMCO Sub Broker.

More on these features can be viewed here in a few of the demo videos:

 

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SAMCO STOCK BASKET

SAMCO Stock Basket is a responsive SAMCO trading platform that can be accessed directly through a mobile application. It is available on Android and iOS devices.

Clients have to enter a valid username and password and start trading from anywhere, anytime.

It comes loaded with all kinds of attractive features and looks. It has a fantastic feature of getting suggestions about a basket of stocks recommended by the experts.

These stock baskets are to be chosen by the trader as per his investment goals. The login page is as shown below:

 

Although this mobile-application adds many brownie points to the SAMCO review based on the idea behind the trading platform, it fails in the implementation aspect.

SAMCO seems to have a quantitative approach when it comes to trading platforms. Although they have provided multiple trading platforms, quality-wise, there are quite a few compromises that can be observed.

The Bigger concern is, there are minimal updates done on these trading platforms. These small problems add up to bringing the ratings in the SAMCO review down.

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SAMCO STOCK NOTE 

This platform is one of the latest additions in the discount broker’s trading platforms’ list to its clients. It is accessible on mobile phones (Stock Note App) and web browsers (Stock Note Web).

They can access the portal by entering the SAMCO Stock Note Login credentials.

The application has been acknowledged well in the initial phase and claims to be based on a proprietary technology called Giga Trading Engine.

The overall user experience of the application is pretty smooth. However, the number of features can still be increased. The App also offers a primary features-based guest login. This is how the app looks like:

 

 

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SAMCO APP 

SAMCO Mobile App is a specific category of trading platforms from this discount stockbroker. It is known to be highly secure and authenticates the logged-in user with numerous algorithms.

The SAMCO trading app is known as Stock Note and Stock Basket.

Here is a detailed tutorial on how to download, log in, and use the mobile app:

Some of the features of the application include:

• Real-time market information.
• Provision to add market watch lists.
• Multiple data points for stock analysis.

Want to know more about SAMCO Trading? Read about it here.

This is how it’s easy to do SAMCO Software trading in SAMCO Login and do trading hassle-free.

“SAMCO provides one of the worst-performing mobile apps in India with super low update frequency cycle, slow speed, and limited features.”

This is why SAMCO Review is necessary for a beginner as it helps him learn about a stockbroker before he joins the list of subscribers.

At the same time, some of the top concerns with this mobile application are:

• The app update frequency cycle has no regularity with the last update that was done in July 2020. Generally, mobile apps in the trading space get updated in 3-5 weeks to give you a perspective.
• Apps crash and get hung most of the time, especially when the market has high traffic.
• Below par design with the sub-optimal user experience.

Here are some of the actual mobile app reviews from Samco users:

 

 

 

 

 

 

Here are some statistics on the Mobile app from the Google Play Store:

 

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SAMCO Mutual Fund 

SAMCO Rank MF is the portal for investing in the mutual fund segment. It is accessible in both formats – Mobile (Rank MF App) and Web (Rank MF Web).

The portal extends qualitative research on the mutual funds available in the market.

It assists the trader or investor in choosing the most suitable mutual fund from the sea of choices. The preferability score of the mutual funds is decided by judging them on multiple parameters.

The portal is programmed to rate mutual funds out of 5 stars. These ratings are Rank MFs proprietary and are subject to change without any intimation. In-house experts provide suggestions and ratings.

The account opening page and the login page look like this: 

 

 

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SAMCO BACK OFFICE 

SAMCO Star is the discount broker’s back-office system where most of the administrative tasks related to your trading are conducted. The accessibility to a back-office increases the way a customer provides the SAMCO Review.

The trader has to enter the SAMCO back office login credentials to access the portal. This system allows you to take care of:

• Current funds
• Holdings and positions
• Ledger balances
• Profit/Loss in your trade book reports
• Equity Assets Valuation
• Commodity Assets Valuation

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SAMCO CUSTOMER CARE 

The discount broker can be reached out to by the clients through various communication channels. They are as follows:

• SAMCO Helpline – 022-2222-7777, 022-4503-0450
• Raise a Ticket on the website.
• Social Media (Facebook, Twitter, Youtube, LinkedIn, and Instagram)

When it comes to customer service, the thing with SAMCO is that they are very sales-like in their discussion mode. However, customer service primarily aims to help out an existing client base when they get stuck in any specific aspect.

If the broker is looking to provide any value to its clients through SAMCO support, it needs to look at some aspects very closely as they matter a lot in the SAMCO review. These aspects are:

• Train its customer executives team and make them skillful enough to deal with clients coming with different queries.
• Quicken up the turnaround time for the resolution provided to the client.

Once these primary areas get figured out by this discount broker, clients’ outlook may change.

“SAMCO introduced ITL (Indian Trading League), in lines to Zerodha‘s 60-day challenge, with Kapil Dev to bring in organic popularity. But what matters to clients is transparency, value for money service, and decent trading platforms.”

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SAMCO FUND TRANSFER 

There are three ways to transfer funds to your trading account in SAMCO. The more options they extend, the better ratings are received in the SAMCO review.

The fund transfer methods are:

• Payment Gateway
• NEFT/RTGS
• Cheque
• UPI (Unified Payments Interface)
• Through Stock Note Web

The broker requires the clients to either use the back-office or submit a payout request through the trading platforms. The fund’s transfer happens in 2-3 days (although it is claimed that it happens the same day).

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SAMCO CHARGES 

In pricing, a client needs to pay the following charges during trading:

• Account Opening Charges
• The brokerage of the stockbroker
• Transaction Charges of the exchange
• Goods and Services Tax
• SEBI Charges
• STT
• CM Charges
• Stamp Duty Charge (varies from state to state)

“The minimum initial deposit you need to provide for account opening is ₹25,000.”

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SAMCO ACCOUNT OPENING CHARGES

The process of the SAMCO account opening is just as easy as the charges levied on the client. Here are the SAMCO trading account and demat account opening charges :

 

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SAMCO BROKERAGE 

Since SAMCO is a discount stock broker, it charges you a flat rate brokerage across segments. These charges are low and thus pull the SAMCO review together. The charges are as shown:

Use this SAMCO Brokerage Calculator to calculate the charges and your profit. 

“To avail Call and Trade facility at SAMCO, You need to pay ₹20 brokerages for each order execution.”

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SAMCO CHARGES LIST

Apart from account opening and brokerage charges, here are the SAMCO transaction charges levied on the client:

You can calculate these charges by using the SAMCO calculator.

Here is a sample trade for you with the data to give you an idea of how much you will take away and how much you will be required to pay to SAMCO.

The following image depicts the various charges, including brokerage, levied on you:

 

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SAMCO MARGIN

The margin facility is a significant service in the process of the SAMCO review. Clients get the following leverage across different trading segments:

Use this exhaustive SAMCO Margin Calculator for further reference in SAMCO Commodity Margin. 

If you are interested in commodity trading and new to it, read SAMCO Commodity.

Also, read about the SAMCO Equity Margin, and SAMCO Option Calculator.

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SAMCO LEVERAGE

If you are looking for high exposure, then the discount broker provides a couple of options to its clients. These leverage plans add to the valuation in the SAMCO review. The leverage is offered using these plans:

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SAMCO CashPlus 

SAMCO Cashplus is one of the SAMCO Products. By paying ₹1000 yearly, you can avail of this service where you can be entitled to get up to 4 times exposure or leverage in Equity Delivery Segment.

The product offers leverage on more than 300 stocks listed on the stock market.

Further, it depends on the kind of stock you are looking to purchase, and then the corresponding exposure value is offered to you.

The only catch in this plan is that you are required to pay an interest of 0.05% per day on the outstanding amount of delay payment. So make sure you pay back the money quickly to avoid any such charges.

You need to understand one thing clearly before using such plans, and that is, although it certainly enhances the buying power of the client, it also exposes the capital to much high risk.

Unless you understand the way it works, what its implications are, etc. Thus, you are advised not to use the product with half or incomplete knowledge about the terms and conditions.

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SAMCO IntraPlus

Suitable for Intraday traders, this is another leverage-based product where clients can get access to margin against their shares. With this margin value, clients can trade at the intraday level. Clients are supposed to pledge their holdings in the demat account and based on the assets’ value. A corresponding value is opened up for the client for intraday trading on the stock market.

The plan costs ₹1000 + GST yearly to the clients of the stockbroker with an additional charge of ₹60 for each scrip that gets pledged or unpledged. In this plan, clients can get a margin against 801 stocks and ETFs.

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SAMCO OptionPlus

SAMCO OptionPlus is a SAMCO Product in the leverage segment. As the name suggests, it provides leverage for trading in the options.

After a trader subscribes to this plan, he can receive leverage up to 20x to sell or write option positions. For buying option positions, he can get up to 3x leverage.

The yearly subscription is for ₹999 + 18% GST, and the monthly installment plan costs ₹149 + 18% GST. The plan can be activated using the SAMCO Star login.

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SAMCO BTPT

BTPT stands for Buy Today and Pay in Two Days. SAMCO BTPT is an unconventional way of delivery trading. How?

Have you waited for the shares to get credited to your demat account for two days? Have you experienced the Transaction + 2 days (T + 2) plan?

Well, you have the option to say a big NO to that wait.

Under this plan, you can instantly receive the shares and pay the shares’ price within two days. This unique plan stands out in the market, especially against the trading free brokerage model.

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SAMCO StockPlus 

With this product, you can avail of margins with the ZERO cash balance in your trading account. Thus, it is generally suitable for Intraday and positional traders.

This product’s concept depends on the value of your holdings in the SAMCO demat account, which will decide a corresponding amount to be opened up by the broker for you to trade in other segments.

The way it works is based on the value of your holdings. Let’s say the value of your holdings post haircut is ₹10,00,000. Then you can get to trade up to ₹10,00,000 across multiple segments ONCE you pledge your holdings with SAMCO.

The service is available across 820 stocks and ETFs for the clients of the broker.

The subscription charge for this plan is ₹1500 (yearly), with an additional charge of ₹60 for pledging or un-pledging shares (irrespective of the number of shares.)

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SAMCO ADVANTAGES

Some of the positives of using the services of this discount broker are:

• NRI Demat Account allowed for NRI trading.
• Comprehensive education material for beginner and intermediate trading clients.
• Exhaustive margins for different trading segments based on the order type.
• Low brokerage plans.

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SAMCO DISADVANTAGES

You must be aware of the following concerns before you make up your mind on opening your demat account with this discount broker:

• No monthly or yearly fixed price plans for heavy traders.
• Traders have raised security concerns in the case of trading platforms.
• Concerns regarding mobile apps have been raised regularly.

“0.05% is the complaint percentage of active clients of SAMCO, as per the latest numbers in this financial year. Further, no client has filed an arbitration against the broker.”

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Conclusion

SAMCO Securities is a discount broker founded by Mr. Jimeet Modi. It is based in Mumbai and is famous for charging one of the industry’s lowest brokerage charges.

It extends the service of unique margin products and multiple trading platforms. They present the highest percentage of leverage.

Moreover, India’s first capital league – ITL (Indian Trading League), was launched by SAMCO Securities.

They aim to extend the various trading services at the lowest cost possible and facilitate them with multiple trading platforms. However, their attempts have seen lesser successes in the case of trading platforms.

According to reviews on multiple fora, the platforms have regularly disappointed the customers and even led to huge losses.

Not only this, customer support has been less of a support to the users and more of a business dealing. To achieve the best of their capabilities, SAMCO needs to focus on multiple things and make itself reliable in the customers’ eyes.

The above statements do not mean that there are no advantages or good sides to the story. The broker extends the facility of learning about the share market using videos for beginners and intermediate learners.

Further, it also has the option for NRIs to have an NRI demat account.

“SAMCO did well initially, but there have been a lot of concerns raised by its client base. These concerns are in low performing trading platforms, below quality customer service, hidden charges, etc.

So, if you want to have a word with SAMCO executives, you may go ahead. Still, we are sure about the realization that many grey areas need immediate attention from the broker, including their trading platforms, customer service, and transparency.”

This information was all about the SAMCO Securities review. We hope that this was helpful to you. For further details, you could comment below.

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HOW TO OPEN A DEMAT AND TRADING ACCOUNT?

Enter Your Details below and get a Free call back right away to guide you more about the broker.

 

 

Next Steps:

Post this call. You need to provide a few documents to start your account opening process. The documents required are as follows:

1. ID Proof
2. An address proof
3. Bank statement for the last six months, canceled cheque
4. Passport-sized photograph
5. AMC fees (if applicable)
6. Trading Account cheque

Once you are done with this, your account gets opened within 2-3 business days.

Also, know SAMCO AMC Charges after having an interest in SAMCO.

For more information in this regard, you can check our article on documents required for opening demat account.

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SAMCO REGISTRATION

Here are the details on the different membership details of the discount stockbroker:

 

The details can be verified from the corresponding entity websites.

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SAMCO FREQUENTLY ASKED QUESTIONS

Here are some of the most commonly asked questions about SAMCO:

1. Is SAMCO Safe?

SAMCO is a discount stockbroker from the house of Samruddhi Tradecom India Limited. So from the background perspective, the broker looks safe.

However, there have been quite a few complaints raised by the clients recently. The biggest concern is the kind of exposure they offer to their clients.

Well, this feature has its positives and negatives. And thus, the inclination towards risk becomes a tad bigger.

You can check this review on SAMCO Complaints for further reference.

     2. What is the minimum amount to maintain with SAMCO?

There is no such condition set up by the broker, and you don’t need to maintain a minimum balance in your trading account with the broker.

But you are required to pay ₹25,000 as the minimum trading account balance when you open the account with the broker.

     3. What happens if the client fails to pay off the margin call while using the leveraged product – CashPlus?

When the client cannot pay off the margin call within the stipulated time, the client’s open positions are squared off, and the accounts are settled accordingly post square-off.

    4. Is the leverage product CashPlus available for derivatives trading?

No, it is only available in the Equities segment.

    5. How can I close my account with SAMCO?

You need to follow a few necessary steps if you are looking to close your demat account with SAMCO. Please follow this link on How to Close Demat Account for complete details.

   6. Is SAMCO offering the lowest brokerage charges in India?

SAMCO, by no means, is offering the lowest brokerage charges in India. If you look closely, it is even more expensive than Zerodha or 5Paisa. There are a lot of other stockbrokers that offer competitive and affordable brokerage services.

    7. What are the account opening Charges?

There are no account opening charges, but the broker charges you ₹400 for your demat account’s annual maintenance.

   8. How to login to the SAMCO back office?

You have to enter the SAMCO star login credentials to access the back office portal.

   9. What are the brokerage charges with SAMCO?

For Equity Intraday or Delivery, the maximum brokerage you are charged is ₹20 per executed order. They don’t have any fixed brokerage plans for their clients.

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You can check out the detailed comparison of Samco Vs Other Stockbrokers here

 

More on Samco:

If you are looking to know more about Samco, here are a few reference links for you