Without the slightest bit of doubt, Bansal Finstock is one of the best stock trading companies in Gujarat. About the highlights of the company; Bansal Finstock is a full-service stockbroking company since 2004.
The company charge ₹300 per annum for the AMC of the Demat account. We will learn more about Demat and Trading accounts later in this article. One of the compelling aspects of Bansal Finstock is the Trading Exposure they offer – up to 7x.
However, the margin money is on the higher side, which is ₹10,000. Now, about the fees structure; they are mostly reasonable. They charge a dynamic Intraday Brokerage fee between 0.02% – 0.035%, whereas, for Delivery Brokerage, they charge between 0.2% – 0.3%.
Find detailed Bansal Finstock Review below.
|Bansal Finstock Highlights|
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs.300 per Annum|
|Margin Required||Minimum Rs.10,000|
|Intraday Brokerage||0.02% – 0.035%|
|Delivery Brokerage||0.2% – 0.3%|
What do you know about Bansal Finstock?
Let us check out the origin story of Bansal Finstock Broker. First of all, it is a private limited company which was established in the year 2004. So, after 15 years of the successful stock trading operation, it is safe to say they are a full-service stockbroker.
Now, the company was first opened in the city of Bhavnagar, which is in Gujarat. Rashmin Relia, who is the company founder, marshalled his troops in the right direction to make it one of the best stock trading companies in Gujarat, if not in India.
There is a lot of discussions that we will do in this article to and pinpoint the pros and cons of the company. We will also argue whether you should open an account with them or not.
|About Bansal Finstock|
|Know few details about Bansal Finstock|
|Which type of Company is it? – Public / Private||Private|
|Which type of Broker is it? – Full Service / Discount||Full Service Broker|
|Where is the registered office of Company Located?||Bhavnagar, Gujarat|
|Who is the Founder of this Company?||Rashmin Relia|
|When did the company started?||2004|
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What are the various Demat Account Opening Charges levied by Bansal Finstock?
Before we jump into the account opening fees, you should know that the Depository participants involved in this are CDSL & NSDL. Also, the option of Dematerialization is available too. Now, the Bansal Finstock account opening fee ₹300.
Nowadays, most of the companies offer free account opening. Sadly, such is not the case here. Additionally, you will also pay for the AMC of the Demat account, which is ₹300 per annum.
However, in the case of Trading accounts, there is no cost involved while you open an account, neither there is an AMC fee for it. Meanwhile, as mentioned in the company highlights, the minimum margin money threshold is ₹10,000, which is slightly higher than what other companies typically charge.
|Bansal Finstock Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with Bansal Finstock|
|Which is the Depository Participant involved?||CDSL & NSDL|
|What are the Demat account opening charges?||Rs.300|
|How much is the Demat AMC?||Rs.300 per Annum|
|What is the Trading AMC?||Free|
|What is the initial Margin amount required?||Minimum Rs.10,000|
|Is dematerialization available?||Yes|
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Does Bansal Finstock provide any Offers to their Clients?
The Bansal Finstock offers should have been better than what they provide now. For starters, they provide free Trading account along with its AMC, whereas, there is a cost involved not only for opening the account but also for its AMC.
While they offer Discounts on Brokerage fees, they don’t have Happy Trading Hours deployed. So, the clients can’t take advantage to earn more. There are two more significant offers that they provide – the Flexible Brokerage plans and occasional Holiday offers to selected clients.
On the other hand, new clients won’t get much while they join. Several companies provide 1-month Brokerage free trading and Zero Brokerage while a loss in trades for a specific time.
Unfortunately, no such offers available with Bansal Finstock. More importantly, they don’t even have a Referral Program of their own that so many people actually take advantage to earn extra.
|Bansal Finstock Offers|
|Here are the various offers provided by Bansal Finstock|
|Does the broker provide Free Demat A/C offer?||No|
|Does the broker provide Free Trading A/C offer?||Yes|
|Is this broker offers Discount on Brokerage?||Yes|
|Does the broker offer Happy hour trading to their clients?||No|
|Is the broking house provides flexible brokerage plan?||Yes|
|Does the broker offer 1 month Free brokerage?||No|
|Is the Holiday offers provided by the broker?||Yes|
|Are there any referral offers shared by the broker?||No|
|Zero Brokerage for Loss Making Trades||No|
What are the Brokerage Charges levied by Bansal Finstock on various Segments?
It is also interesting to discuss Brokerage fees. The Bansal Finstock Brokerage charges for its two primary services, which are Equity Delivery and Equity Intraday, are between 0.2% – 0.3% and 0.02% – 0.035% respectively.
The dynamic price range of 0.02% – 0.035% is possibly very favourite of theirs. That is why they charge the same for three more services – Commodity Trading, Equity Futures, and Currency Futures. Now, we believe all these price ranges are reasonable and industry standard.
They follow the same traits for Equity Options, where they charge between ₹20 – ₹30 per lot, and Currency Options, for which they charge between ₹15 – ₹30 per lot. Please note that the percentage of total transactions determine the minimum brokerage fees which are required.
We already know that the Demat accounts have an AMC fee of ₹300 per annum, whereas it is free for the Trading accounts. And, the minimum margin money is ₹10,000.
|Bansal Finstock Brokerage Charges|
|Here you will find details of brokerage levied by Bansal Finstock on all segments|
|What are the Equity Delivery Charges?||0.2% – 0.3%|
|What are the Equity Intraday Charges?||0.02% – 0.035%|
|How much brokerage charged for Commodity Trading?||0.02% – 0.035%|
|What is the brokerage on Equity Futures?||0.02% – 0.035%|
|How much brokerage charged for Equity Options?||Rs.20 – Rs.30 per Lot|
|What is the brokerage on Currency Futures?||0.02% – 0.035%|
|What is the brokerage on Currency Options?||Rs.15 – Rs.30 per Lot|
|How much is the Minimum Brokerage requires?||Percentage of Transaction|
|What is the Demat AMC?||Rs.300 per Annum|
|How much is the Trading AMC?||Free|
|What is the Minimum Margin Required?||Minimum Rs.10,000|
Does Bansal Finstock levy any other charges apart from Brokerage?
In addition to Brokerage fees, there are some extra fees that you need to pay while you do stock trading. It starts with Transaction Charges, which is 0.00265%. Now, Bansal Finstock charges for the STT is 0.0126%, while for SEBI Turnover, they charge 0.0002%.
Both these two fees are charged over the total Turnover amount. Apart from that, there is a variable Stamp Duty fee that you need to pay as well, where the amount varies from one state of India to another.
Finally, there is the GST fee, which is flat 18% that you need to pay. For those who are unaware, GST is being calculated over the total Brokerage fee plus the Transaction fees.
|Bansal Finstock Charges|
|Get deep understanding of all other charges levied by Bansal Finstock|
|How much is the Transaction Charges levied?||0.00265%|
|What are the STT charges?||0.0126% of Total Turnover|
|What are the SEBI Turnover charges?||0.0002% of Total Turnover|
|How much is the Stamp Duty levied?||Depends on State (very minimal)|
|How are the GST charged?||18% of (Brokerage + Transaction Charges)|
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What is the Limit or Exposure offered by Bansal Finstock?
When it comes to Trading Exposure or Leverage, Bansal Finstock delivers unappealing services. Let us start with Equity Delivery, where they offer just up to 2x Trading Exposure. We believe it is way below average.
Next, it is Equity Intraday, which is up 7x Trading Exposure. Now, we will not say it is terrible, neither will we say it is fantastic. It is just ‘ok’ in our dictionary. Equity Futures and Currency Futures share the fate with only up to 3x Trading Exposure.
The same 3x Trading Exposure is applicable for Commodity Trading as well. The next best thing they offer after Equity Intraday is Equity Options, which is up to 5x Trading Exposure, while for Currency Options, they offer only up to 2x Leverage.
|Bansal Finstock Exposure or Leverage|
|Here you will find the exposure or limit provided by Bansal Finstock|
|How much is the limit on Equity Delivery?||Upto 2X|
|What is the limit on Equity Intraday?||Upto 7X|
|How much is the limit on Equity Futures?||Upto 3X|
|What is the limit on Equity Options?||Upto 5X|
|What is the exposure on Currency Futures?||Upto 3X|
|How much is the leverage on Currency Options?||Upto 2X|
|What is the limit on Commodity Trading?||Upto 3X|
How to open Bansal Finstock Demat & Trading Account?
When you decide to begin trading stocks, you should know that you need three kinds of accounts – a Demat account, a Trading account, and a Savings account. Now, you can simply open a Savings account with any of your nearest banks, but to open a Demat and Trading accounts online, follow the steps below:
- The first step to open Bansal Finstock Demat account typically starts by clicking on “Open Demat Account” button available below.
- Then it will show a pop-up where you need to fill-up a form. Provide correct information. Then click on “Submit”.
- You need to follow a link on your email to verify the email address and over there you need to upload all your relevant KYC documents.
- Simultaneously, they will guide you the steps to pay ₹300 as it is the account opening fee. Please note there is no additional fee to open Bansal Finstock Trading account.
- Once the payment is made and they verify your account, you are ready to access your Demat and Trading accounts.
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What are the various Trading Platforms provided by Bansal Finstock?
Here is the list of Trading Platforms that Bansal Finstock provides to their clients.
Bansal Finstock Trading Terminal
The Trading Terminal, which is actually a Desktop application, has all the featured services in-built for a seamless stock trading experience. We will learn more about the features later, but you should know the Application is available everybody, whether you are using a Windows or a Mac operating system.
Bansal Finstock Web Trading Platform
This is the last Trading Platform that they provide as they don’t have a mobile app to offer. So, the Web Trading Platform is a version where you can access your stock trading accounts using any popular web browser.
However, you can access your account from your mobile phone properly as the responsive option is missing. Meanwhile, it contains all those features that the other platform has.
Bansal Finstock Mobile App
|Bansal Finstock Trading Platforms|
|Here you will find all the important trading platforms available with Bansal Finstock|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platform?||Yes|
|Do they have Mobile Web Platform?||Yes|
|Does this broker provide Mobile Trading App for Android?||No|
|Does this broker provide Mobile Trading App for iOS?||No|
|Are they having Mobile App for Windows OS?||No|
|Do they have Mobile Trading App for Other OS?||No|
What are the features available in Bansal Finstock Trading Applications?
The various features available in these platforms are –
Bansal Finstock Trading Terminal Features
If we begin the discussion with the Bansal Finstock Trading Terminal; it lacks Online MF Buy option. However, the other two integral features are available – Real-time Updates and Portfolio Details.
This platform is a Desktop Application which comes with the Easy Installation option. While it has the News Flash option, it lacks the Research Reports option big time.
Bansal Finstock Web Trading Platform Features
The Bansal Finstock Web Trading Platform is equally competent and comes with all these features, including Global Indices and Stock Tips options.
While they miss out the Personalized Advisory option, they compensated well with options like Interactive Chartings, Live Markets data, SMS Alerts, and Email Alerts. However, both the platforms don’t have Multi-Account Management option in-built.
|Bansal Finstock Trading Application Features|
|Here you will find various features available in Trading Platforms provided by Bansal Finstock|
|Are these platforms capable of Real time Updates?||Yes|
|Do these Applications provide Portfolio Details?||Yes|
|Are this software’s providing Online MF Buy?||No|
|Do these platforms have News Flash?||Yes|
|Are these platforms providing Research Reports?||No|
|Are these platforms Easy to Install & use?||Yes|
|Do these Apps have Global Indices?||Yes|
|Are these platforms having Stock Tips?||Yes|
|Do this software’s provide Personalized Advisory?||No|
|Are these platforms capable of Interactive Chartings?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||Yes|
|Are they providing Email Alerts?||Yes|
|Do these platforms has Multi Account Management solution?||No|
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What are the various Products provided by Bansal Finstock?
The discussion of the Bansal Finstock products is always exciting. They mostly covered all the essential and preliminary stock trading products like Equity Trading, Commodity Trading, and Currency Trading.
Apart from that, they also offer two integral products – Options trading and Futures Trading. However, some of the products which are popular but slightly unconventional are not in their product list.
The likes of Mutual Funds and Forex are not in their product list, neither there are any Banking products or SIP products. They do offer Insurance products, though.
|Bansal Finstock Products|
|Here are the various products provided by it|
|Does the broker allow Equity Trading?||Yes|
|Does the broker allow Commodity Trading?||Yes|
|Do they have Currency Trading product available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as product?||No|
|Does the broker allow Forex trading?||No|
|Does the broker have Banking products?||No|
|Is SIP allowed by the broker?||No|
|Do they have Insurance as a Product?||Yes|
What are the various Services offered by Bansal Finstock?
The Bansal Finstock services are slightly on and off for the clients. On the one hand, they offer conventional services like Demat and Trading accounts; they don’t deal with 3-in1 accounts which typically consist of a Demat, a Trading, and a Savings account.
The offer the most critical Intraday services and also provide quality IPO services, but don’t bother to deliver Robo Advisory services to their clients. Similarly, they offer excellent Stock Recommendation services but failed to deliver PMS.
Bansal Finstock offers an impressing up to 7x Trading Exposure, which is always good news. However, some people may get shocked to know that they are not an official Trading Institution.
|Bansal Finstock Services|
|Check out the various services provided by it|
|Does the broking house provide Demat Services?||Yes|
|Does the broking house provide Trading Services?||Yes|
|Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C?||No|
|Do they provide Intraday Services?||Yes|
|Are they offering IPO Services to the client?||Yes|
|Do they have Stock Recommendations available?||Yes|
|Are they providing tools for Robo Advisory?||No|
|Does the broker provide PMS?||No|
|Do they have Trading Institution available?||No|
|What is the Trading Exposure this broker provides?||Upto 7X|
Does Bansal Finstock provide Research & Advisory to their clients?
If we start with the Bansal Finstock Research services, we have to say they have really disappointed their clients. They don’t share any fundamental Report, neither they share any Research Report.
The sad story continues as they don’t provide Company Reports to their respective clients, neither they are bothered to analyse Annual Reports of various companies. They don’t bother to share Company Stock Reviews too.
They share a few information like IPO Reports, Daily Market Review, Monthly Reports, and Weekly Reports. With the Bansal Finstock Stock Tips services, there are not many services apart from Free Stock Tips and Top Stock Picks.
Finally, the Bansal Finstock Advisory services are robust and efficient at the same time. They offer an elite Offline Advisory, and their dedicated Relationship Manager Support services are top-notch.
|Bansal Finstock Research, Advisory & Stock Tips|
|Here are the various research activities done by it|
|Does the broker shares Fundamental Reports?||No|
|Does the broker shares Research Reports?||No|
|Do they provide Company Reports to their clients?||No|
|Are they analysing Annual Reports of Companies?||No|
|Do they share Company Stock Review?||No|
|Are they sharing Free Stock Tips to their clients?||Yes|
|Do they analyze & share IPO Reports?||Yes|
|Does the broking company provide Top Picks?||Yes|
|Are they sharing Daily Market Review?||Yes|
|Do they have Monthly Reports?||Yes|
|Does the broker provide Weekly Reports?||Yes|
|Are they having Offline Advisory?||Yes|
|Do they provide Relationship Manager to clients?||Yes|
What are the Customer Care details of Bansal Finstock?
First off, let us just admire the fact that there are 380 branches spread all around the country to provide customer care support. However, there are some questions raised by the expert as they don’t offer services via Dedicated Dealer.
It just raised a lot of doubts on the service quality. The central aspect of the Bansal Finstock customer care service is 24×7 support. They deliver services, whether you prefer online stock trading or Offline stock trading.
Meanwhile, many of their clients are also not happy with the fact that they don’t provide Email or Chat support. This raises another question on resolving problems quickly.
|Bansal Finstock Customer Support|
|Let’s have a better understanding of Customer Care Service|
|Are they providing Dedicated Dealer to their clients?||No|
|Do they allow Offline Trading?||Yes|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||Yes|
|Does this broker provide Email Support?||No|
|Is this broker having Chat Support?||No|
|How many Branches the stock broker has?||380|
Are there any Complaints filed against Bansal Finstock by their clients?
It is time to talk about the Bansal Finstock complaints they have received over the years. Firstly, they are in the stock trading business for over 15 years. Secondly, it is impossible to keep everyone happy.
Now, when we see that they have received 13 complaints from the NSE, we should say that it is just about par. The good thing is all of them have been resolved successfully.
Meanwhile, when it comes to the number of complaints issued from the BSE, they have received only 1 complaint. That too has been resolved. So, overall, they did a great job by keeping the numbers to a minimum.
|Bansal Finstock Complaints|
|Here you will know about the Complaints lodged against it|
|What is the total number of Complaints Lodged in BSE?||1|
|How many of these complaints have been Resolved in BSE?||1|
|What is the total number of Complaints Lodged in NSE?||13|
|How many of these complaints have been Resolved in NSE?||13|
What are the advantages & benefits of Bansal Finstock Trading accounts?
Now, as we have gone through all the services what they are offering, you can choose whether or not you should join them. However, we advise you to review this list of advantages and disadvantage of being associated with Bansal Finstock.
- First off, they offer products and services which are just about ‘ok’ considering what other stock trading companies provide.
- The overall fees structure is something worth mentioning. They are mostly bang-on target and are essentially reasonable of what they are charging.
- We believe the research services are terrible, while the advisory services are worthy of appreciation.
- The Trading Platforms are decent enough; however, the lack of a mobile app asks a lot of question.
- The Trading Exposure & Leverage they offer are not professional enough, especially when other companies are offering lucrative stuff.
What are the Bansal Finstock Review & Ratings as per their Customer?
The Bansal Finstock review discussion should begin with the products and services they offer; for that the clients have rated 3.1 out of 5. Understandably so, as there are several products and services which they don’t provide.
For their overall fees structure, the clients have rated them 3.4 out of 5. They indeed deserve the appreciation for their well-curated pricing structure. Their research & advisory section have been rated poorly, which is 2.9 out of 5.
That is mainly because they have deserted the research services. In spite of not having a mobile app for trading, the clients have rated them 3.3 out of 5. This proves they have sufficed all the essential needs that a Trading Platform should have.
For their overall experience, the clients rated them 2.9 out of 5, which is pretty much unexpected, considering they are a 15-year-old company. So, the final rating that stands 3.2 out of 5, which is okay, but in parts, there are a lot of areas that then must improve.
|Bansal Finstock Ratings & Reviews|
|We are looking at Companies Ratings on various parameters|
|Stock Market Research & Broking Advisory||2.9/5|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||3.4/5|
|Types of Products & Services the Brand provides||3.1/5|
|Performance Mobile App, Trading Terminal & Web Trading Platform||3.3/5|
|Experience in the Broking Business||2.9/5|
|Total Avg. Rating of Broking House||3.2/5|
|Star Rating of given to Stock Broker||★★★☆☆|
|Number of People Contributed to these Ratings||117|
Bansal Finstock Conclusion
If we want you to suggest to you whether or not you open an account with Bansal Finstock, you must first understand your status.
If you have experience in the stock trading industry and you typically don’t rely on others’ verdict, then Bansal Finstock is the right choice. Meanwhile, there are some aspects which give the tone that they are not the ideal choice for you if you are new in this industry.
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