Basan Equity Broking is a preeminent stock trading company located in Hyderabad, Andhra Pradesh. To begin with, as the company is in the stock trading fraternity since 2007, it has earned respect as a full-service stockbroking company.
Before refining the company, let us know what the company highlights are. Basan Equity charge ₹299 per annum for the AMC of the Demat accounts; we will address it later. The company offers a maximum of 5x Trading Exposure, which is clearly below par.
The overall fees structure is just about par with their most essential services – Intraday Brokerage and Delivery Brokerage. They charge 0.03% and 0.30% respectively. The last thing to mention here is the margin money threshold – minimum ₹5,000, which we will discuss later.
|Basan Equity Broking Highlights|
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs.299 per Annum|
|Margin Required||Minimum Rs.5,000|
What do you know about Basan Equity Broking?
What we know about Basan Equity Broking is they are, first of all, a private limited company which was established in the year 2007. Mr. Basanth Agarwal is the company founder and a firm believer of his business strategies.
Eventually, the company has become a full-service stockbroker, and unsurprisingly, Mr. Agarwar is their driving force. The company headquarter is located in Hyderabad, Andhra Pradesh. With time, the company has gone through a lot of evolutions.
So, in this article, we will discuss the current state of the company. We will explain what they are offering and what their clients think about their products and services.
|About Basan Equity Broking|
|Know few details about Basan Equity Broking|
|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?||Hyderabad, A.P|
|Who is the Founder of this Company?||Basanth Agarwal|
|When did the company started?||2007|
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What are the various Demat Account Opening Charges levied by Basan Equity Broking?
The cost to open a Basan Equity Broking Demat account is ₹100, while the Depository participants involved are CDSL & NSDL. They also charge ₹300 per annum for the AMC of the Demat accounts, while dematerialization is available.
It is no surprise that they also deal with Trading account, which is free along with is AMC. Now, the minimum margin money which Basan Equity Broking has set is decent and reasonable. They are charging ₹5,000 upfront to initiate stock trading for you.
Now, we understand many people expect that to be free, and some companies do provide it for free. Sad, such is not the case here.
|Basan Equity Broking Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with Basan Equity|
|Which is the Depository Participant involved?||CDSL & NSDL|
|What are the Demat account opening charges?||Rs.100|
|How much is the Demat AMC?||Rs.299 per Annum|
|What is the Trading AMC?||Free|
|What is the initial Margin amount required?||Minimum Rs.5,000|
|Is dematerialization available?||Yes|
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Does Basan Equity Broking provide any Offers to their Clients?
There is nothing significant to discuss when it comes to the Basan Equity Broking offers. Most of their clients are disappointed with the current state of events. We have talked about that they provide free Trading accounts, while the Demat accounts have an account opening fee and an AMC fee.
Also, they offer a few Discounts on Brokerage fees. But other than that, there isn’t anything else to conclude. They don’t have any Referral Program or Holiday Offers to share. Neither they offer Happy Trading Hours to their clients.
If you are a new client, you will be disappointed to know that there are no lucrative offers for you. There are no such offers like 1-month Brokerage free trading or Zero Brokerage fee on unsuccessful trading. Moreover, at least they should have offered Flexible Brokerage plans, which is sadly not available.
|Basan Equity Broking Offers|
|Here are the various offers provided by Basan Equity|
|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?||No|
|Does the broker offer 1 month Free brokerage?||No|
|Is the Holiday offers provided by the broker?||No|
|Are there any referral offers shared by the broker?||No|
|Zero Brokerage for Loss Making Trades||No|
What are the Brokerage Charges levied by Basan Equity Broking on various Segments?
It is always better to know the fees structure before we learn about the products and services. So, for their two most important services, which is Equity Delivery and Equity Intraday, they charge 0.30% and 0.03% respectively.
Now, the rates seem just about ‘ok’ as per industry standard. Moving on to Equity Futures and Currency Futures; they charge 0.03% for both the services. Similarly, they charge ₹30 per lot for both Equity Options and Currency Options.
Now, one disclaimer; the percentage of Transactions determine the minimum brokerage fees that are required. As mentioned earlier a few times now; for the Demat accounts’ AMC, they charge ₹299 per annum, while the Trading accounts are free. Also, they charge a minimum of ₹5,000 as the margin money.
|Basan Equity Broking Brokerage Charges|
|Here you will find details of brokerage levied by Basan Equity on all segments|
|What are the Equity Delivery Charges?||0.30%|
|What are the Equity Intraday Charges?||0.03%|
|How much brokerage charged for Commodity Trading?||NA|
|What is the brokerage on Equity Futures?||0.03%|
|How much brokerage charged for Equity Options?||Rs.30 per Lot|
|What is the brokerage on Currency Futures?||0.03%|
|What is the brokerage on Currency Options?||Rs.30 per Lot|
|How much is the Minimum Brokerage requires?||Percentage of Transaction|
|What is the Demat AMC?||Rs.299 per Annum|
|How much is the Trading AMC?||Free|
|What is the Minimum Margin Required?||Minimum Rs.5,000|
Does Basan Equity Broking levy any other charges apart from Brokerage?
The additional Basan Equity Broking charge starts with the Transaction fees, which is 0.00320%. It follows by the STT fee of 0.0126%, which is calculated over the total Turnover value.
Similarly, they also charge 0.0002%, calculated over the total Turnover value, for the SEBI Turnover fee. Now, there are two more fees which don’t go to the company’s pocket; instead, these are the fees which are deployed by the government.
First among them is the Stamp Duty fee, which varies from one state in India to another. The second and final fee that the clients have to pay is the GST fee.
Now, to calculate the exact amount, one must add the amount incurred as Brokerage fees with the total Transaction fees. GST will be charged over the aggregate amount.
|Basan Equity Broking Charges|
|Get deep understanding of all other charges levied by it|
|How much is the Transaction Charges levied?||0.00320%|
|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 Basan Equity Broking?
It safe to say that Basan Equity Broking offers a terrible set of Trading Exposure or Leverage. For one of the most important services, Equity Delivery, they offer just up to 2x Trading Exposure. This is incredibly poor compared to other stock trading companies.
They tried to pick up some pace with up to 5x Trading Exposure for Equity Intraday and Equity Options, but everything else looks exceptionally bleak.
They offer up to 2x Trading Exposure for Equity Futures and offer the same for a couple of more services – Currency Futures and Commodity Trading. Finally, for Currency Options, they offer up to 3x Leverage, which is again nowhere near what other companies are offering.
|Basan Equity Broking Exposure or Leverage|
|Here you will find the exposure or limit provided by Basan Equity|
|How much is the limit on Equity Delivery?||Upto 2X|
|What is the limit on Equity Intraday?||Upto 5X|
|How much is the limit on Equity Futures?||Upto 2X|
|What is the limit on Equity Options?||Upto 5X|
|What is the exposure on Currency Futures?||Upto 2X|
|How much is the leverage on Currency Options?||Upto 3X|
|What is the limit on Commodity Trading?||Upto 2X|
How to open Basan Equity Broking Demat & Trading Account?
We, as a whole, know the Basan Equity Broking manage both Demat and Trading accounts. In any case, to start the stock trading, you must have a Savings account also. You can open a Saving account in any bank close by. Presently, for the other two accounts, you have to pursue the means beneath:
- To open a Basan Equity Broking Demat account, you need to click on the “Open Demat Account” button below. After that, you will get a pop-up with a form.
- You will find a form that contains your name, phone number, and city, which you need to provide correctly.
- After that, you will get a call from one of the representatives. Along with all the information they ask for, you need to tell them that you would also like to open the Basan Equity Broking Trading account.
- Then, they will ask for the relevant documents from you to process the KYC. Along with that, you have to pay ₹100 as the account opening fees.
- Once they complete the KYC and confirm the payment that you have made, they will provide you the login credentials required to access your Demat and Trading account. After that, you can start trading using your accounts.
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What are the various Trading Platforms provided by Basan Equity Broking?
Let us now discuss the Trading Platforms that Basan Equity Broking is offering to their clients.
Basan Equity Broking Trading Terminal
This platform means a Desktop Application explicitly. The Application comes for both Windows and Mac users to satisfy every demand. The Application has some useful features and lacks a few as well. We will discuss this later.
Basan Equity Broking Web Trading Platform
Unlike the Desktop version platform, the Web Trading Platform means a platform where you can use any popular web browser to access your account. You can do pretty much everything that you can do on the Desktop Application.
Subsequently, this version also lacks the same features that are missing in the Application too. Meanwhile, as this version is not mobile responsive, you will not get a seamless browsing experience on mobile phones using a web browser there.
Basan Equity Broking Mobile App
Basan Equity Broking also offers a Mobile App to deliver the best stock trading experience. It comes in both Android and iOS, however, not available in Windows and other backdated operating systems.
The features are identically similar to the other two Trading Platforms, so are the features which are missing.
|Basan Equity Broking Trading Platforms|
|Here you will find all the important trading platforms available with Basan Equity|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platform?||No|
|Do they have Mobile Web Platform?||Yes|
|Does this broker provide Mobile Trading App for Android?||Yes|
|Does this broker provide Mobile Trading App for iOS?||Yes|
|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 Basan Equity Broking Trading Applications?
The various features of Basan Equity Trading Platforms are –
Basan Equity Broking Trading Terminal Features
The basic conversations start with the Basan Equity Broking Trading Terminal. They offer two fundamental features – Real-time Updates and Portfolio Details, while they miss the Online MF Buy feature.
It is a shame that the Desktop Application doesn’t come with the Easy Installation option, which is always useful for the users.
Basan Equity Broking Web Trading Platform
Now, Basan Equity Broking Web Trading Platform also comes with these features pre-installed. Along with that, you will also get News Flash, Stock Tips, and Global Indices features.
However, critical features like Research Reports, Personalized Advisory, and Interactive Chartings are missing too.
Basan Equity Broking Mobile App
Finally, the Basan Equity Broking Mobile App also has all these previously mentioned features and lacks the features which are missing in other platforms. All the Trading Platforms has Live Markets data features in them.
Also, while the Email Alert feature is available, the SMS Alert feature isn’t. There is no mention of the Multi-Account Management solution feature as well in any of their Trading Platforms.
|Basan Equity Broking Trading Application Features|
|Here you will find various features available in Trading Platforms provided by it|
|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?||No|
|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?||No|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||No|
|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 Basan Equity Broking?
The Basan Equity Broking products are well thought out. First off, they provide Equity Trading, which is an obvious one, so is Commodity Trading. They offer Currency Trading, which many stock trading companies like to skip nowadays.
They also provide the Options trading as well as the Futures trading. Now, as we are analysing the range of their products, we figured out the most of the products they offer are traditional stock trading products.
Now, they have outcasted three popular products – Mutual Funds, SIP, and Banking, all of which are not categorized as conventional stock trading products. Meanwhile, they do offer Forex and Insurance products.
|Basan Equity Broking Products|
|Here are the various products provided by Basan Equity|
|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?||Yes|
|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 Basan Equity Broking?
The Basan Equity Broking services are mostly acceptable, except the Trading Exposure ratio, which is up to 5x. Today, some companies offer 10x – 15x Trading Exposure on average. So, you should understand that they are way below par.
However, they are not an official Trading Institution. Therefore, 5x Trading Exposure is decent enough. They offer regular services like Demat and Trading accounts, however, doesn’t provide 3-in-1 accounts.
It also provide three essential services, too – Intraday Services, IPO, and Stock Recommendations. But at the same time failed to deliver some crucial ones as well – Robo Advisory and PMS.
|Basan Equity Broking Services|
|Check out the various services provided by Basan Equity|
|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 5X|
Does Basan Equity Broking provide Research & Advisory to their clients?
The Basan Equity Broking Research services are the first topic of discussion. However, the services are mostly flat. They don’t share Fundamental Reports or Research Reports, nor do they provide Company Reports or Annual Reports to their clients.
That said, there are some areas that they are competent. For instance, they are good at sharing Company Stock Reviews. They are even better in providing quality Daily Market Reviews, Monthly Reports, and Weekly Reports.
Moving on to the Basan Equity Broking Tips services; they are excellent in sharing Free Stock Tips and providing Top Picks for stock trading. Finally, Basan Equity Broking Advisory services are efficient and cover most areas related to advisory services.
They offer top-notch Offline Advisory service, which most of the new traders seek. Along with that, they offer dedicated Relationship Manager Services.
|Basan Equity Broking 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 Basan Equity Broking?
The Basan Equity Broking customer care service is often criticised mainly because of the fact they don’t provide service using Dedicated Dealers. Even though they have 203 branches scattered all across the country, people still want that extra leap of faith.
Clearly, that is missing while they don’t provide services via Dedicated Dealers. Meanwhile, they offer 24×7 service, which is always an accomplishment as the clients crave for such services.
However, not having a dedicated Chat or Email support is really a question mark here. Although one good thing amidst this is they offer services to both Online and Offline clients.
|Basan Equity Broking 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?||203|
Are there any Complaints filed against Basan Equity Broking by their clients?
Usually, we consider a stockbroking company to evolve in approximately 10 years. Basan Equity Broking, however, is a 12-year-old company. Another aspect we should keep in mind is the fact that no company is perfect.
So, every now and then, a client supposed to have some grudges against the company. So, if you consider both these arguments, we should appreciate that fact that the number of Basan Equity Broking complaints is Zero.
It is unbelievably true that no complaints have been issued against them from either BSE or NSE.
|Basan Equity Broking Complaints|
|Here you will know about the Complaints lodged against it|
|What is the total number of Complaints Lodged in BSE?||0|
|How many of these complaints have been Resolved in BSE?||0|
|What is the total number of Complaints Lodged in NSE?||0|
|How many of these complaints have been Resolved in NSE?||0|
What are the advantages & benefits of Basan Equity Broking Trading accounts?
We understand that it is a big decision whether or not you open the Basan Equity Broking Trading account. We, however, want to make it easier for you to take your decision promptly. So, we will discuss the pros and cons of the company.
Let us start with the pros; they offer quality products and services. Yes, variety can be an issue, but if you are looking for the core stock trading services, they have all covered. The Trading Platforms are mostly okay as they provide all sorts of platforms with essential feature in-built in it.
Overall fees structure is also reasonable and mostly acceptable. The most compelling factor is Zero complaints. Now, about cons; the Trading Exposure and Leverages they offer should be better if we compare them with other service providers.
They should integrate more offers to the clients as there has been a serious shortage of quality offers. There has been a shortage of overall user experience as well.
What are the Basan Equity Broking Review & Ratings as per their Customer?
The Basan Equity Broking review starts with Research and Advisory services, where they have got 2.5 out of 5. Next, is the overall Fees Structure, where they have reached their highest rating – 3.4 out of 5.
They have got 3.3 out of 5 for their quality products and services, whereas for their Trading Platforms, they have got a weak rating of 2.6 out of 5.
Subsequently, they have got just 2.4 out of 5 for their overall Experience. 2.7 out of 5 is their final score, which we believe is not a satisfactory score, and they should really work hard to make it more viable for their clients. Meanwhile, 152 clients have rated their service.
|Basan Equity Broking Ratings & Reviews|
|We are looking at Companies Ratings on various parameters|
|Stock Market Research & Broking Advisory||2.5/5|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||3.4/5|
|Types of Products & Services the Brand provides||3.3/5|
|Performance Mobile App, Trading Terminal & Web Trading Platform||2.6/5|
|Experience in the Broking Business||2.4/5|
|Total Avg. Rating of Broking House||2.7/5|
|Star Rating of given to Stock Broker||★★★☆☆|
|Number of People Contributed to these Ratings||152|
Basan Equity Broking Conclusion
All things considered and we would like to conclude that if you are new to the stock trading industry and will need assistance, then Basan Equity Broking might not be the ideal choice for you.
However, if you have a decent experience and you have enough confidence to deal with stock affairs, then they can be the right choice for you.
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