SMC Global is a leading full-service stockbroker based out of New Delhi, India. Established in the year 1994, the full-service broker enjoys presence with more than 50 branches across the country and 2400 sub-broker network. (Find more on SMC Global Sub broker here).
SMC Global Review
Apart from retail stock broking, SMC Global also provides Wealth Management, DP and Research services. SMC Global also has an international presence across Dubai.
The broker has recently come up with a discount broking arm called Stoxkart that charges a flat rate brokerage. The interesting part is that you are charged brokerage only when you make profit in your trade.
Within stock broking, SMC Global has memberships with NSE, BSE, MCX, NCDEX, MCX-SX and allows its clients to trade across segments such as:
“SMC Global Online has a total of 1,05,038 active clients for the financial year 2020″.
Chairman & Managing Director, SMC Group
SMC Global Trading Platforms
SMC Global Online has a range of trading platforms across the web, desktop, mobile and tablet.
Thus, quantity-wise there are no concerns, but when it comes to quality there are few hiccups that need to be addressed especially around user experience and usability of applications.
Here are the details:
This trading software is an executable file that can be downloaded and installed on a user’s laptop or desktop. Mostly suitable for heavy traders, SMC Privilege comes with the following features as listed below:
Real-time streaming quotes
Intraday charting with indicators
Hotkey functions for faster execution of orders and other features
Online funds transfer allowed
Having said that, the app is relatively bulky and users must maintain a decent configuration of their laptop and/or desktop to keep consistent user experience.
SMC Global Easy Trader
Easy Trader is a web-based responsive trading platform that can be accessed across devices. It is relatively lighter in performance and does not need any installation or downloads.
Easy trader comes with the following features:
Accessible across devices and even at relatively lower internet bandwidth
Access to back-office reports for analysis
Personalized Workspace feature with customization of UI widgets
Trading across segments and exchanges possible
SMC Global MobiTrade Mobile App
Mobitrade is the mobile application for trading by SMC Global which is secure and user-friendly at the same time. Some of the features of Mobitrade are:
Trading across multiple segments and exchanges allowed
Multiple market watch provision
Users get complete access to different reports like order book, trade book, net position etc
The full-service stockbroker offers the following communication channels to its clients as listed:
As you can see that the communication channels are limited to the full-service stockbroker, which basically limits the way a client can reach out to SMC Global. At the same time, the quality of resolutions provided by the stockbroker is also pretty mediocre in nature.
The broker needs to work on the training of the support executives and make sure the user queries get addressed professionally and in quick time.
As far as the current feedback is concerned, users get a very generic form of communication and specific queries do not get addressed in a personalized manner.
SMC Global Pricing
Pricing at SMC Global Online is just reasonable, both at the brokerage as well as account level. Transaction charges definitely are an area where the broker seems relatively expensive than the industry benchmarks. Users are advised to use their discretion while choosing a stockbroker.
At the same time, users MUST negotiate well with the executive before opening the account. There is always a room to get the charges of all types lowered to an extent.
SMC Global Account Opening Charges
To open an account with SMC Global, the following charges are levied to clients along with the specified annual maintenance charges (AMC):
Trading Account Opening Charges
Trading Account Annual Maintenance Charges
Demat Account Opening Charges
Demat Account Annual Maintenance Charges
SMC Global Brokerage
Being a full-service stockbroker, SMC Global charges a specific percentage of your trade value as brokerage charge.
₹70 per lot
₹20 per lot
Furthermore, as long as you can provide a higher initial deposit value of up to INR 50,000- Brokerage of SMC Global can go as low as 0.1% for delivery and 0.01% for intraday (although it all depends on your negotiation skills).
This is one grey area in the overall pricing mechanism of SMC Global. The transaction charges are standard values set by SEBI and exchanges, however, brokers such as SMC charge additional percentages on top of the values specified.
SMC Global Margin
Upto 10 times
This is one of the weakest links in case of this full-service stockbroker. SMC Global provides minimal exposure values to its clients thus, giving them almost no opportunity to make a profit(s) on top of their trading capital. Leverage is a mainstream concept and is used by a lot of users on a regular basis (it has its risks at the same time).
By providing minimal values of exposure, SMC Global creates a sense of disappointment for medium to heavy traders.
SMC Global Disadvantages
Here are some of the concerns of using the services of this full-service stockbroker:
They might ask for extra charges for using a few of their trading products
Mobile trading on NSE not allowed (yet)
SMC Global Advantages
At the same time, here are some of the benefits of using the services of this full-service stockbroker:
Aftermarket orders placement allowed
Trading across multiple financial segments possible
Here is the membership information of the broker with different exchanges and intermediate parties:
MCX - SX
SMC Global Securities Ltd. 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005
The details can be verified from the corresponding websites of the exchanges.
SMC Global FAQs:
Here are some of the most frequently asked questions about this full-service stockbroker:
What is the account opening charge at SMC Global Online?
To open a Demat account with SMC Global, you need to shell out one time cost of ₹499 while to maintain your trading account with the broker, you will be charged ₹300 every year. Overall charges stay normal and around the industry average.
How is the brokerage calculated at SMC Global Online?
Since SMC Global is a full-service stockbroker, thus, they charge a percentage based brokerage rate. For instance, for delivery trades in Equity segment, you will be charged 0.3% of your trade value.
That implies, if you trade for ₹1,00,000 in delivery then you are supposed to pay ₹300 as brokerage charge.
Again from a full-service stockbroking industry standpoint, the brokerage stands at par with the average and can be further negotiated depending upon the initial trading account deposit and your negotiation skills.
What is the quality of customer service at SMC Global Online?
Customer support is one area where SMC Global falls flat with its generic messaging and communication to go along with a lack of skill set among the customer support executives.
The broker certainly has a lot to improve in this area; to know more, refer to ‘Customer Service’ section above.
Is SMC Global Online a trustable stockbroker? Is it reliable?
SMC Global is one of the oldest names in the full-service stockbroking space in India. It was established in the year 1994 and has had a long history of keeping a low customer complaint percentage.
For 2017, it is still somewhere around 0.07% of its around 75k active clients (marginally high than the industry average of 0.06%). Furthermore, the trading platforms offered by the broker are good in performance too. All and all, it can be termed as a trustable name.
Is SMC Global Online suitable for beginners?
The brokerage is low, it’s a trustable brand, research is good and so are the trading platforms. In a sense, most of the pre-conditions for a beginner user have been taken care of by the broker.
One thing that is equally important for new traders and investors is smooth customer service. This is where the broker falls flat on the face, for now.
Nonetheless, it’s up to the end-user and based on one’s requirements, the stockbroker can be used for trading services.
What exposure is offered by SMC Global Online to its clients?
Clients of SMC Global are not offered much exposure across segments. In fact for Equity Intraday, users get 10 times leverage of their trading account balance but in other segments, there is almost no exposure. Thus, users are advised to make their choice accordingly.
You can check out the comparisons of SMC Global online vs other stockbrokers here: