Canmoney is a decade-old stockbroker in the market which is providing some new and innovative products and services for the new-age investors.
The firm has earned its fair share of reputation with its dedicated services and in this Canmoney Review, you will read all about the various different services it offers, the trading platform it offers, its brokerage charges and other charges like account opening and others.
In this article, we are going to provide a comparative analysis of the aspects of the firm in respect to the market average so that it helps you to understand whether the firm is charging the clients reasonably or not and whether its products and services worth what it charges or not. So, let us start with a little bit of history of the company.
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs.500 per Annum|
|Margin Required||Minimum Rs.25,000|
What do you know about Canmoney?
So, to start the Canmoney Review, we have some facts about Canmoney like it got established in the year 2009 by P S Jayakumar in the city of Mumbai. The firm then started spreading its branches across the city and in other parts of the city.
firm is now having the headquarters in the city of Mumbai and servicing as a full-service broker. It is a public organization and it is an initiative of Canara Bank.
|Know few details about Canmoney|
|Which type of Company is it? – Public / Private||Public|
|Which type of Broker is it? – Full Service / Discount||Full Service Broker|
|Where is the registered office of Company Located?||Mumbai, Maharashtra|
|Who is the Founder of this Company?||P S Jayakumar|
|When did the company started?||2009|
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What are the various Demat Account Opening Charges levied by Canmoney?
The Canmoney Demat Account can be obtained for a fee of Rs. 350 which is a one-time fee and the fee is comparatively reasonable and average as per the market.
The maintenance of the Demat account is kind of expensive at Rs. 500 per year if you compare it with other brokerage house’s fee for the same. So, Canmoney Account Opening for a trading account has no charges attached to it which are mostly done by the brokers and they keep the trading account for free.
However, Canmoney charges a little more than the average minimum margin requirement of the other brokers in the industry as you can see in the table above, it charges around Rs. 25000.
|Canara Bank Securities Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with Canara Bank Securities|
|Which is the Depository Participant involved?||CDSL & NSDL|
|What are the Demat account opening charges?||Rs.350|
|How much is the Demat AMC?||Rs.500 per Annum|
|What is the Trading AMC?||Free|
|What is the initial Margin amount required?||Minimum Rs.25,000|
|Is dematerialization available?||Yes|
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|Icici Direct||IIFL||Hdfc Securities||Yes Securities|
Does Canmoney Securities provide any Offers to their Clients?
Canmoney Offers free trading account and its maintenance as you saw in the above section. Apart from this, there are some of the holiday offers which you can avail and reduce your brokerage charges in the holidays for your trading.
These are some special discounts offered on certain days when there is a trading holiday or any other holiday but you want to trade.
|Canara Bank Securities Offers|
|Here are the various offers provided by Canmoney|
|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?||No|
|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?||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 Canara Bank Securities on various Segments?
Canmoney Brokerage Charges are little above the average brokerages charged in the market by the brokerage houses. They charge 0.04% for the segments like commodity, futures and for cash or intraday segment.
For the delivery trades you have to pay 0.4% which is also little above the average. The charges for the options category areas you see above in the table are around the average in the market.
|Canara Bank Securities Brokerage Charges|
|Here you will find details of brokerage levied by Canara Bank Securities on all segments|
|What are the Equity Delivery Charges?||0.40%|
|What are the Equity Intraday Charges?||0.04%|
|How much brokerage charged for Commodity Trading?||0.04%|
|What is the brokerage on Equity Futures?||0.04%|
|How much brokerage charged for Equity Options?||Rs.60 per Lot|
|What is the brokerage on Currency Futures?||0.04%|
|What is the brokerage on Currency Options?||Rs.40 per Lot|
|How much is the Minimum Brokerage requires?||Percentage of Transaction|
|What is the Demat AMC?||Rs.500 per Annum|
|How much is the Trading AMC?||Free|
|What is the Minimum Margin Required?||Minimum Rs.25,000|
Does Canara Bank Securities levy any other charges apart from Brokerage?
Canmoney Charges are pretty much the same with other brokers and charges like STT and GST, SEBI turnover is completely same to other full-service brokers as these charges are decided by the SEBI and the government and are mandatory charges. These charges are required to be paid on every transaction.
|Canara Bank Securities Charges|
|Get deep understanding of all other charges levied by Canara Bank Securities|
|How much is the Transaction Charges levied?||0.00325%|
|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 Canara Bank Securities?
Canmoney Exposure for the Canmoney Margin trading service is quite average as you can see in the above table. It is maximum for the intraday segment where the firm provides an exposure level up to 6 times.
For the other segments, the firm provides mostly around 2 times of leverage except for the equity options segment where it is up to 5 times. So, you get pretty much of a good leverage level for your trades.
|Canara Bank Securities Exposure or Leverage|
|Here you will find the exposure or limit provided by Canara Bank Securities|
|How much is the limit on Equity Delivery?||Upto 2X|
|What is the limit on Equity Intraday?||Upto 6X|
|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 2X|
|How much is the leverage on Currency Options?||Upto 2X|
|What is the limit on Commodity Trading?||Upto 2X|
How To Open Canmoney Demat & Trading Account?
It is easy to Open Canmoney Demat Account and Open Canmoney Trading Account using this article as the starting point –
- You have to click on the button below. Here you will find one form which needs to be duly filled.
- Once you fill the form with the required details, submit it.
- Once you submit the form, then you will be redirected to another page where you have to upload some of the documents.
- These documents are for verification purpose and thus you have to scan the original documents and submit them
- Once you submit the documents required, you will receive a call from the Canmoney team and they will guide you about the remaining steps in the process
- They will verify your details and the documents and you will receive a notification if your application is approved or not.
- Once it is approved, then you will receive the login details and you are good to start trading.
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What are the various Trading Platforms provided by Canmoney?
The Canmoney Trading Platforms are quite different than the normal trading platforms offered by other brokers. They have an online or web-trading platform built in-house. The other two platforms Canmoney Mobile App, Canmoney Trading Terminal are also quite advanced.
Canmoney Trading Terminal
Canmoney Trading Terminal is a highly responsive platform and it is built for the traders who trade daily in huge volume. There are several tools and strategies you will find on this platform for your technical and fundamental analysis to make your trades more informed and according to the market trends.
Canmoney Mobile Trading App
The next is the mobile trading platform offered by the firm which is known as CanMoney Mobile App that helps you trades on the go. You can trade whenever and wherever you are and wants to trade. This platform has some really advanced features which you will read in the next section.
Canmoney Web Trading Platform: CanLoyal & CanRoyal
Now comes the most sought after trading platform offered by the firm that is the web-trading platforms.
There are two of them – CANLOYAL and CANROYAL. While the first one is for all the traders and the latter is for the HNIs and the active traders. Both the platforms offer huge range of features that will assist in your trading.
|Canara Bank Securities Trading Platforms|
|Here you will find all the important trading platforms available with it|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||No|
|Are they providing Web Trading Platform?||Yes|
|Do they have Mobile Web Platform?||No|
|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 Canara Bank Securities Trading Applications?
Canmoney Mobile App Features
- It has multiple watch list for tracking and keeping a watch on the different markets as in different segments of the markets – equities, commodities, and others
- You can personalize the watch list as many times as you want with the scrips you need and do not need to remove them
- There are live market calls that you can receive using this mobile trading platform from Canmoney
- There are various orders types which you can use
- Real-time data integrated with the charts for your analysis purpose.
Canmoney Trading Terminal Features
- It has an abundance of charts and historical data and obviously integrated real-time data as well which helps you analyze the market anytime
- There are multiple market watch list which you can customize as per your need
- There are real-time market updates, news and live streaming of the prices
- You can order and the highly responsive platform takes no time to accept the orders and execute them
Canmoney Web Trading Platform: CanLoyal & CanRoyal Features
- CANLOYAL has live streaming of prices of the stocks and other assets in the market
- It gives all the data in real-time and you also have access to the historical data as well
- There is the market watch for every segment and you can open all of them at once as well
- They are fully customizable and you can add and remove the scrips whenever you want
- There are a message window and trading window which helps you message the customer care for any help while trading and also for the recommendation and the trading calls
- You get all these features in one single screen in front of your eyes
- And you can access these platform from any device with a moderate internet connection
- You get the DP gateway from the Canara Bank on this platform
- There are back-end data available from the firm on this platform
- CANROYAL, as mentioned above, is for the HNIs and the regular bulk traders or the active traders.
- It has multiple numbers of charting facilities, there are different types of charts for technical analysis.
- There are also various resources for fundamental analysis like the previous/historical data and price references and reports and reviews
- It is a platform that has state-of-the-art technology and it is highly customizable with lots of features and add-ons and you can expect high performance out of this platform.
- The system configuration required to run the platform is –
- Internet bandwidth of minimum 128kbps and more
- The operating system which can integrate this platform are Windows 98/2000/XP/7/8.1 or Vista Basics
- The processor of the computer needs to be P3 or Pentium 3 at its minimum, the recent version would be better
- Browsers with which this platform can be compatible enough are Chrome, Safari, Opera, Internet Explorer 6.0 and Firefox.
|Canara Bank Securities 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?||Yes|
|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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|CanMoney||Reliance Securities||Profitmart Securities||Edelweiss|
What are the various Products provided by Canmoney?
The Canmoney Products ranges from the equities to the commodities and it includes the derivatives and the currencies as well.
So, you are getting all the required trading instruments under one roof and you do not have to go to another brokerage house to trade other instruments. There are no mutual funds or SIP investment products though, but that you can purchase from other firms who deal in mutual funds specifically.
|Canara Bank Securities Products|
|Here are the various products provided by Canara Bank Securities|
|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?||No|
What are the various Services offered by Canara Bank Securities?
Canmoney Services includes the basic brokerage house services like Demat and trading. However it has not restricted itself to those services, it offers IPO services, there are stock recommendation services, and then there are intraday services as we all know.
The firm is having an institution online for the traders to learn about the trading process, about the market and lots more. There is a knowledge bank all together which you can access when you open an account with Canmoney.
|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?||Yes|
|What is the Trading Exposure this broker provides?||Upto 6X|
Does Canara Bank Securities provide Research & Advisory to their clients?
The Canmoney Research and Canmoney Advisory offer all kind of research and advisory services. It provides company reports, fundamental review reports, and annual reports of the company and research reports.
Then they also provide daily, weekly and monthly market and stock reviews and because of their Canmoney Tips and free stock tips along with the top picks for the day service they are regarded as one of the best in the research services in the market.
For communicating with the clients, they have a prudent and highly qualified team of advisors as well.
|Canara Bank Securities Research, Advisory & Stock Tips|
|Here are the various research activities done by it|
|Does the broker shares Fundamental Reports?||Yes|
|Does the broker shares Research Reports?||Yes|
|Do they provide Company Reports to their clients?||Yes|
|Are they analysing Annual Reports of Companies?||Yes|
|Do they share Company Stock Review?||Yes|
|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 Canara Bank Securities?
Canmoney Customer Care service is spread across with their 762 branches in different parts of the country.
The firm has maintained a well-synchronized customer service with support for both offline and online trading. They are available servicing you all the time. You get a really warm welcome and genuine gesture from the executives.
|Canmoney 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?||762|
Are there any Complaints filed against Canara Bank Securities by their clients?
There are not a single Canmoney Complaints on NSE or BSE in the last year and that showcases the extremely well-maintained services, dedicated efforts towards the customers and also that they provide quality products and services and thus no clients got any issue with trading using their services.
|Canara Bank Securities 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 Canmoney Trading Account?
The benefits of trading with Canmoney Trading Account are –
- It is a full-service broker with all kind of investment-related services and all the necessary products that you would like to trade
- There is an ample amount of research services provided by the research team of the firm that helps you attain good profits in the market by taking position at the right time in the right stocks
- The brokerage plans are reasonable and it also offers certain discounts
- Free trading account and maintenance of the same is free as well
- The exposure level provided by the firm is pretty fair
- Trading platforms are highly advanced and they have different platforms for all kind of traders.
What are the Canara Bank Securities Review & Ratings as per their Customer?
According to the Canmoney Review and the Canmoney Ratings we see above, the firm is quite prudent in their services and all the products it offers.
The overall ratings of 3.2 out of 5 is a great rating as per the market and all the aspects of the firm whether it is trading products or the terminals and research services got good rating which suggests that this firm has a long way to go and for the client it can be a great brokerage house to trade.
Another thing we have to consider here that the firm is under Canara bank and thus it is more reliable than the private players.
|Canara Bank Securities Ratings & Reviews|
|We are looking at Companies Ratings on various parameters|
|Stock Market Research & Broking Advisory||3.4/5|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||3.1/5|
|Types of Products & Services the Brand provides||3.3/5|
|Performance Mobile App, Trading Terminal & Web Trading Platform||3.0/5|
|Experience in the Broking Business||3.2/5|
|Total Avg. Rating of Broking House||3.2/5|
|Star Rating of given to Stock Broker||★★★☆☆|
|Number of People Contributed to these Ratings||198|
As per the Canmoney Review above, you can rely on Canmoney for your trading needs and you get all kind of services and products for trading as well.
They have great trading platforms and excellent customer support which makes them stand out in the market.
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