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TradePlus Online has a unique model in terms of pricing for their Currency, Options and Commodity trading setups charging a fixed brokerage of ₹99 per month without any limit on the number of transactions done.
Let’s understand the overall value this discount broker may provide to you in case you are looking to open a demat account.
TradePlus Online Review
Its been a long journey for TradePlus Online in the Finance world. They started with investment services in the year 1983 and started as Equity Brokers with National Stock Exchange (NSE) in 1995 and then as a Depository Participant with NSDL in 1997. Then after a decade or so, they started as Commodity Brokers with MCX in 2009 and finally became an Equity Broker with BSE a few years back in 2010.
With the full-service stockbroking background of Navia Markets, TradePlus Online has more than 200 collection centres across the country.
“Registered with the Navia Markets brand, TradePlus Online serves 9,254 active clients by 2019-20.”
With this discount stockbroker, you can trade in the following segments:
- Currency Trading
- Commodity Trading
- Mutual Funds
- NRI Trading
” In this review, we are going to talk about multiple facets of TradePlus Online so that you get a detailed 360-degree view of this brokerage house.
If you want, you can check out the review video of TradePlus Online added at the top of this review page. Furthermore, you can find the review of TradePlus Online in Hindi as well.”
Here is the top management team:
From L-R: Jawahar Vadivelu (Founder & Chairman), S K Hozefa (CEO, TradePlus Online)
TradePlus Online Trading Platforms
Although there is a wide range of trading platforms, when it comes to performance, value-for-money or user experience, there is a lot that TradePlus Online can improve in the future. Let’s talk about the different softwares one by one:
TradePlus Online – Nest on Web or NOW
NOW is an exhaustive platform for accessing options through Laptop, Desktop, Web, Mobile through its different versions. It allows the clients to trade across all segments be it Equity, Futures, Currency or Options. It is directly integrated with BSE and NSE and is loaded with the following features:
- NOW can be used as an executable file and can be installed on a desktop or laptop. It becomes a trading terminal for users who are heavy traders.
- NOW has a web version that can be accessed through any browser from your office, business or home premises.
- It also has a LITE Mobile version that users can access through their mobile browsers and carry on with their trading activities on the move. It is available for Android, iOS, Blackberry, Java and Windows mobile platforms.
- It also has a touch-based version can ‘Now Touch‘ which is accessible on Windows 8 and touch-based screens. It is compatible with Chrome, Safari and Firefox versions.
- You can trade across segments, transfer funds online across multiple banks, access interactive charts to technical analysis
- Works on 2-factor authentication making sure you are trading in a secure online environment.
Here is the running demo video of NOW:
TradePlus Online Infini Trader
Infini Trader is an executable trading software that can be installed on a desktop or laptop to carry out trading. It is a sound trading platform with a unique variety of features such as Order Placement, Viewing Trades & Positions, Charting, Risk Management, Customisable Market Watch etc. Some of the main features of Infini Trader are:
- Cover orders with stop loss trigger
- Conditional market watch with all sorts of filters and criteria as per your preferences
“The only concern with Infini Trader is that its a paid trading platform and users cannot use it for free.”
- Order basketing in one go
- Easy customizations and personalizations of interfaces
- Intriguing features such as Price Ladder, Advanced charting, Model basket etc
Check out the demo of the application here:
TradePlus Online Mobile App
TradePlus mobile is the mobile app from the house of TradePlus Online. The app allows clients to access services, view statements and get queries resolved within itself. To access the app, you must have a Tradeplus Demat Account.
Some of the features the app carries are:
- The app provides access to back-office aspects such as ledger balances & statements, open positions, profile view etc. within a single login.
- Transfer funds from your bank to the trading account instantaneously. The app even has integration with PAYTM for simpler usage.
- Set alerts, modify existing and subscribe to newer ones to stay ahead in terms of market knowledge and trends
- Check out the latest market updates, research reports and blog articles within the app
Here is the demo of the mobile app from TradePlus:
Here are the stats from the Google Play store account of TradePlus Online Mobile App:
|Number of Installs||10,000-50,000|
|Mobile App Size||6.1 MB|
|Negative Ratings Percentage||15.5%|
|Update Frequency||1 Year (yes, Year!)|
As shown in the table, TradePlus Online certainly needs to improve and quicken up its update frequency cycle of the mobile app. With regular updates, users are able to access new features as well as get rid of the bugs or issues in the previous version of the mobile app.
TradePlus Online Customer Service
This is one area, I believe TradePlus Online is doing well as compared to many stockbrokers in the discount stockbroking space. Gaining client trust is one of the biggest challenges against discount stock brokers in India and I think, with its extensive focus, this broker is certainly making inroads in the service space.
“TradePlus Online has a Twitter-based customer resolution initiative wherein client’s twitter account can be integrated into the trading platforms.”
These are different communication channels, this discount broker allows its clients to reach back to it:
- Toll-Free Number
- Social Media
- Twitter Integration
- Web support through Knowledgebase
With this number of communication channels, the discount broker has certainly made sure to keep multiple gates and windows open for clients. Not only that, but the broker makes sure the turnaround time of the queries raised is also short. Thus, definitely customer service is one of the top points for the broker.
The discount broker offers research SMS services to its clients and the service is paid in nature. You can subscribe to a plan using the SMP (Subscription Management Portal) for the following charges:
|Pack Name||Pack Type||Cost|
|Infinite Commodity Plan||Base Pack||₹99|
|Infinite Options Plan||Base Pack||₹99|
|Infinite Futures Plan||Base Pack||₹799|
|Infinite Currency Plan||Base Pack||₹99|
|INFINI Power - Equity||Value Pack||₹499|
|INFINI Power - MCX||Value Pack||₹249|
|Research SMS - Equity||Value Pack||₹99|
|Research SMS - Futures||Value Pack||₹99|
|Research SMS - Options||Value Pack||₹99|
|Research SMS - Currency||Value Pack||₹99|
|Research SMS - Commodity||Value Pack||₹99|
|Instant Trade Confirmation||Value Pack||₹99|
|Call and Trade Pack||Value Pack||₹1000|
However, my view on this service is that you may try this for a month or two. The quality of the research tips is not that great and if you need tips, better check out some of the expert advisory services or you can use full-service stockbrokers.
TradePlus Online Pricing
Here are details on different pricing components of TradePlus Online:
TradePlus Online Account Opening Charges
Here are the account opening and annual maintenance charges listed:
|Demat Account Opening Charges||₹0|
|Trading Account Opening Charges||₹199, Service Tax as applicable|
|Demat Account Annual Maintenance Charges||₹900/- for 10 years OR ₹500 for 5 years. Service tax as applicable|
|Trading Account Annual Maintenance Charges||₹0|
Thus, you need to make a one-time AMC payment for a decent duration. By setting up pricing like this, TradePlus Online expects long-term commitment from its clients.
TradePlus Online Brokerage
As far as the brokerage is concerned, the broker has a unique model for Currency, Options, Commodity and Futures trading coming at a fixed monthly price for zero brokerage unlimited trading. Here are the details:
|Equity Futures||₹799 per month for Unlimited trading or 0.01% whichever is lower|
|Equity Options||₹99 per month for Unlimited trading or 0.01% whichever is lower|
|Currency Futures||₹99 per month for Unlimited trading or 0.01% whichever is lower|
|Currency Options||₹99 per month for Unlimited trading or 0.01% whichever is lower|
|Commodity||₹99 per month for Unlimited trading or 0.01% whichever is lower|
The best part of these Unlimited plans is that these are totally refundable in nature. In case there are no transactions done in a month, all charges depending on the segment subscribed for, will be reversed into your account.
Use this TradePlus Online Brokerage Calculator for complete charges and your profit
“TradePlus has a unique proposition where it has set up a Subscription Management Portal (SMP) for clients. This portal is integrated through Paytm and users can activate or deactivate services (such as research SMS pack, algo alerts etc) using it.
The payments are made through Paytm wallet.”
TradePlus Online Transaction Charges
Here are the details of the transaction charges levied by TradePlus Online across different segments:
Looking at the percentage here, it seems that TradePlus Online charges very high transaction charges as compared to some of the premium stockbrokers such as Sharekhan, ICICI Direct (especially when you compare the future and options transaction charges for equity and currency).
TradePlus Online Margin
Here are the exposure or intra-day leverage details for TradePlus Online:
|Equity Delivery||4 times for Delivery on Shares when VAR margin is less than 20%|
|Equity Intraday||10 times on Nifty and Midcap-100 stocks|
|Equity Options||2 times for Intraday|
|Currency Options||2 times for Intraday|
|Commodity||2 times for Intraday|
TradePlus Online Disadvantages
If you open an account with this discount broker, you might have a few concerns as listed below:
- Mac version of NOW not available
- 3-in-1 account not possible
- Being a discount broker, TradePlus Online provides no assistance around research reports or market tips
- Call and Trade facility is a little ambiguous and takes time
“TradePlus Online has received 1 complaint from its clients in 2019-20 for this financial year”
TradePlus Online Advantages
At the same time, here are some of the advantages of opening an account with this discount broking firm:
- Unique features such as SMP where clients can subscribe to value packs, check the status of referral clients etc
- The NEAT trading platform is one of the biggest USP for TradePlus online due to its flexibility and adaptability across devices.
- Varied brokerage plans across different segments.
- Twitter-based customer service is a unique feature and helps to resolve issues pretty quickly. Furthermore, overall customer service quality is also good.
- Unique PAYTM integration for easy accessibility.
TradePlus Online seems to be a decent stockbroker from multiple angles including Customer Service and Brokerage plans but they seem to be missing the trick when it comes to Trading Platforms, especially their mobile app that has got quite a bit of slacking from the users from different directions.
Thus, for now, they must be a focus on improving the overall trading experience for their clients. A happy client is a referring client and referring clients implies larger business value. You can do the math!
How to Open a Demat and Trading Account?
Enter Your details below and get a FREE call back right away.
Post this call, you need to provide a few documents to start your account opening process. The documents required are as follows:
- ID Proof
- An address proof
- Bank statement for the last 6 months, cancelled cheque
- Passport-sized photograph
- AMC fees (if applicable)
- Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
For more information, you can check this detailed review on documents required for demat account.
TradePlus Online Membership Information
Here is the membership information for this discount stockbroker with different exchanges and intermediate parties:
|Registered Address||Ganga Griha' 4th & 5 th Floor, No.9 (old No. 6D) ,Nungambakkam High Road, Nungambakkam , Chennai - 600 034, India|
The details can be verified from the corresponding websites of the exchanges.
TradePlus Online FAQs
Here are some of the most frequently asked questions about TradePlus Online for your reference:
What are the brokerage charges of TradePlus Online?
Depending on the segment you are looking to trade or invest in, corresponding brokerage charges are applied. TradePlus Online has a percentage based as well as monthly fixed-rate plans. Kindly refer the Brokerage plans section above for complete details.
Is Tradeplus Online reliable?
Unlike other discount stockbrokers, TradePlus online has been around for a while in the stockbroking space. Although the broker has been
How can I apply for IPO online through Tradeplus Online?
TradePlus Online is one of the few discount stock brokers that allows you to invest in IPOs as well. To do that, you need to follow few steps as listed:
- You need to hold both Demat and Trading account with TradePlus Online
- You need to hand over Power of Attorney of your account to the broker
- Log in to any in-house trading application of TradePlus Online
- Browse over to the IPOs menu item
- Select the issue you are interested to invest in, out of the ones shown
- Fill and submit your details in the form
- You will get notifications on your registered email and phone about your bidding.
- If allocated, you will again be provided with a confirmation notification on your registered email id and phone number.
It’s a pretty straightforward process and once you go through it, it becomes even easier.
What segments are offered under the ‘Infinite Trading Pack’?
Under this pack of unlimited trading, TradePlus Online allows you to trade across MCX commodities (non -agri), Equity Futures (Index & Stock), Equity Options (Index & Stock) and Currency Derivatives. All the trades are fixed price and no additional brokerage is applicable to the pack.
How does the client referral program work at TradePlus Online?
Once you refer a friend or known to TradePlus Online and if he/she becomes the client of the broker, then you get the following benefits:
- 100% of the Infinite Commodity Pack, Infinite Currency Pack, Infinite Options Pack amount
- 50% of Infinite Futures Pack amount
- 50% of all the Value pack amount
Further, you can earn up to Rs.1672/- per month per client.
What am I supposed to do once my account is opened at TradePlus Online?
Once you open the account with TradePlus Online, you will get a welcome email along with the activation link to the back office. Then you are supposed to:
- Download the trading application
- Add funds to your trading account
- Fund your SMP Ledger
- Check margins applicable to you
- Check the research services available
What are the value packs offered by TradePlus Online?
Here are the details of different value pack plans offered by TradePlus Online with their pricing details:
- Call and Trade – ₹1000 per month
- Infini power (Equity) – ₹499 per month
- Infini power (MCX) – ₹198 per month
- Instant trade confirmation – ₹198 per month
What is the validity period of Value packs from TradePlus Online?
All the packs are valid for 1 month period except the call and trade facility which can be renewed after a span of 15 days.
What is Infini-power?
Infini power is a research and analysis tool for both technical and fundamental analysis. To use this tool, clients are required to pay a subscription fee on a regular basis.
Are aftermarket orders (AMO) allowed at TradePlus Online?
Yes, aftermarket orders are allowed through this discount stockbroker.
How much intraday leverage is offered by TradePlus Online?
It depends on the trading segment you are looking to trade or invest in, corresponding leverage is provided to you. For instance in Equity Cash, you can use exposure up to 1o times under MIS and up to 30 to 40 times for Cover orders.
More on TradePlus Online:
In case you are looking to know more about TradePlus Online, here are a few reference links for you:
PLEASE DONT OPEN ACCOUNT IN tradeplusonline
BECOUSE CUSTMER PAYOUT INFERMATION WRONGLY FILL IN DEMATE ACCOUNT
WHEN YOU CALL HIS CUSTMER CARE HIS NAME ROHIT (9962017087)NOT PICKUP AVOID OR NOT ANSWER YOUR CALL
MY NAME IS VISHNU GADEKAR
AND MY NUMBER IS 9637662268
There mobile app is very slow to open and this is they are charging 3500. In option expiery day they are not allowing to trade, rejecting. Comparing to other discount brokers, this one waste. They offer some money back and all you never get it. If we call them no response for that. Better try with others.
It is the most hopeless broker that I have seen from 4-5 brokers. They have hidden charges. They do not respond or send something irrelevant. They also charge separately for software. The poa is the nightmare here where they take the effect of pledge but it is not pledge and you will be charged thousands of rupees as interest. Even for obvious incorrect debits, you have to complain to the NSE and SEBI for redressal. Except the low brokerage there is nothing positive about the company.