Eureka Securities is one of the renowned stockbrokers in the country, especially having its presence in the eastern part of the country.
The Eureka Securities Review which you are going to read below is a comprehensive article about the firm’s brokerage charges, its products and services, trading platforms, the other charges, and the various other offerings of the firm that you would like to know and compare with other firms before investing with the firm in the stock market.
|Eureka Securities Highlights|
|Broker Type||Full-Service Broker|
|Demat Account AMC||Rs 330|
|Margin Required||75% Margin|
What do you know about Eureka Securities?
Eureka Securities is based out of Kolkata in the state of West Bengal. The firm has branches across the city and other parts of the country as well.
The firm is a private organization that was started in the year 1992 by Mr. Ramesh Kumar Somani and it is working as a full-service broker providing all kinds of solutions to clients which are going to be discussed in the later section of this Eureka Securities Review.
|About Eureka Securities|
|Know a few details about Eureka Securities|
|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 the Company Located?||Kolkata, West Bengal|
|Who is the Founder of this Company?||Ramesh Kumar Somani|
|When did the company start?||1992|
Open Demat Account Now – Fill up the Form Below
What are the various Demat Account Opening Charges levied by Eureka Securities?
The amount required to open Eureka Securities Demat Account is Rs. 0 as mentioned above and if you feel the amount is a little pinch on the pocket then you should compare it with the other brokerage houses and you will see that this amount is quite reasonable and affordable.
The Eureka Securities Account Opening is nominal as you can see and to ease you from yearly maintenance charges, the firm has been charging Rs 330 for the maintenance of the accounts Demat. There is no charge in the Trading accounts.
The Demat account of this firm is associated with both the depositories of the country which helps in trading and also provides more security and options.
The margin money requirement is at par with the market at present and most of the brokerage houses charge a 75% Margin only as the minimum margin to be kept in the trading account for trading the stocks and other instruments.
|Eureka Securities Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with Eureka Securities|
|Which is the Depository Participant involved?||CDSL & NSDL|
|What are the Demat account opening charges?||Rs 0|
|How much is the Demat AMC?||Rs 330|
|What is the Trading AMC?||Rs 0|
|What is the initial Margin amount required?||75% Margin|
|Is dematerialization available?||Yes|
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Does Eureka Securities provide any Offers to their Clients?
Eureka Securities Offers complete free maintenance of the trading and Demat account as you have read in the above section. On top of that, you can further reduce your brokerage charges for the trades you do with the flexible brokerage plans offered by the firm from time to time.
However, the firm has not been offering much of an offer, and very limited offers are there. In order to attract and retain more clients, needs to provide more offers as peers in the industry are offering various offers which are comparatively good.
|Eureka Securities Offers|
|Here are the various offers provided by Eureka Securities|
|Does the broker provide a Free Demat A/C offer?||No|
|Does the broker provide Free Trading A/C offer?||No|
|Is this broker offers a Discount on Brokerage?||No|
|Does the broker offer Happy hour trading to their clients?||No|
|Is the broking house provides a flexible brokerage plan?||Yes|
|Does the broker offer 1-month Free brokerage?||No|
|Are 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 Eureka Securities on various Segments?
Eureka Securities Brokerage Charges are very nominal and you can say that they are on the lower side of the spectrum. Being a full-service brokerage house and charging 0.03% for the trades in the segments like a commodity, intraday, currency, and futures is incredible and very affordable for the traders.
The charges for the delivery trades as well are not that high as you can see in the table above it is only 0.20%. The options are also traded for Rs. 20 for the equity options and Rs. 20 for the currency options which are quite nominal charges as per the market.
The brokerage charges are also minimal compared to the range of services and products it offers which we will discuss in the latter half of the article.
|Eureka Securities Brokerage Charges|
|Here you will find details of brokerage levied by Eureka Securities on all segments|
|What are the Equity Delivery Charges?||0.20%|
|What are the Equity Intraday Charges?||0.02%|
|How much brokerage charged for Commodity Trading?||0.03%0.02% / Rs 20 per lot|
|What is the brokerage on Equity Futures?||0.02%|
|How much brokerage charged for Equity Options?||Intraday: Rs 20 per lot | Carry Forward: Rs 20 per lot|
|What is the brokerage on Currency Futures?||0.02%|
|What is the brokerage on Currency Options?||Intraday: Rs 20 per lot | Carry Forward: Rs 20 per lot|
|How much is the Minimum Brokerage required?||Percentage of Transaction|
|What is the Demat AMC?||Rs 330|
|How much is the Trading AMC?||Rs 0|
|What is the Minimum Margin Required?||75% Margin|
Does Eureka Securities levy any other charges apart from Brokerage?
Eureka Securities Charges include statutory charges like the STT charges, SEBI charges, and GST along with the Stamp duty and all these charges are as per the regulations of the SEBI and government thus as you can see in the table above, the charges are the same for every brokerage house more or less.
The only charge in this category of charges that are levied on the transactions is transaction charge which is a little different from one brokerage house to another and here with Eureka Securities, it is 0.00300% which is close to the average in the market.
|Eureka Securities Charges|
|Get a deep understanding of all other charges levied by Eureka Securities|
|How much are the Transaction Charges levied?||0.00300% of Total Turnover|
|What are the STT charges?||0.0126% of Total TurnoverEquity Delivery: 0.1% on both Buy and Sell
Equity Intraday: 0.025% on the Sell Side
Equity Futures: 0.01% on Sell Side
Equity Options: 0.05% on Sell Side(on Premium)
Commodity Futures: 0.01% on sell side (Non-Agri)
Commodity Options: 0.05% on sell side
Currency F&O: No STT
On Exercise transaction: 0.125%
Right to entitlement: 0.05% on sell side
|What are the SEBI Turnover charges?||0.00005% (Rs.5/Crore)|
|How much is the Stamp Duty levied?||(On buy side only) Delivery: 0.015%, Intraday: 0.002%, Equity Futures: 0.002%, Equity Options: 0.002%, and Currency F&O: 0.0001%. Commodity Futures: 0.002%, Commodity Options: 0.002% (MCX)|
|How is the GST charged?||18% on (Brokerage + Transaction Charge + SEBI Fee)|
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What is the Limit or Exposure offered by Eureka Securities?
The Eureka Securities Margin requirement you have seen in the above sections is average and against that the Eureka Securities Exposure which is provided is very less because as you can see in the table above, the exposure for the intraday segment is only 5 times apart from that all the segments have around 1 time of leverage.
For the daily traders and the bulk traders, it is necessary to have a good amount of leverage from the brokerage house which is not provided by the brokerage house here.
However, if you compare the stockbrokers of its stature in the market, the firm provides more or less average exposure to the clients it has.
|Eureka Securities Exposure or Leverage|
|Here you will find the exposure or limit provided by it|
|How much is the limit on Equity Delivery?||1x|
|What is the limit on Equity Intraday?||Upto 5x|
|How much is the limit on Equity Futures?||1x|
|What is the limit on Equity Options?||1x|
|What is the exposure on Currency Futures?||1x|
|How much is the leverage on Currency Options?||1x|
|What is the limit on Commodity Trading?||1x|
How To Open Eureka Securities Demat & Trading Account?
To Open Eureka Securities Demat Account you need to –
- Click the button “Open Demat Account” you find here which will open a pop-up.
- On the pop-up, you will find a form that you need to fill
- Fill out the form duly and mentioned all the details which are asked in the form. Make sure to recheck it before submission
- The next step is to provide the documents which you have to scan and upload on the site itself.
- Once you upload the documents then you can just wait and let the Eureka Securities executives call you.
- They will further take care of the verification process and once your documents and the details are verified you will be allowed to log in to your account and start trading.
Once you Open your Eureka Securities Trading Account and Demat account, you will get the login details on the mail you registered with the firm and you can access all the resources and the platforms for trading.
Open Demat Account Now – Fill up the Form Below
What are the various Trading Platforms provided by Eureka Securities?
There are various Eureka Securities Trading Platforms and not only the regular Eureka Securities Mobile App, Eureka Securities Trading Terminal, and the web-based platform.
They also have other applications and technologies for seamless and advanced trading. Here we will mainly talk about the trading terminal, web-based platform, and mobile application.
Eureka Securities Trading Terminal: Eureka Securities NEST
Eureka Securities Trading Terminal is the NEST platform offered by the NSE which is the best in the industry as a desktop trading platform. The firm uses NEST directly and provide access to the clients also for trading purpose.
Eureka Securities Web Trading Platform: Eureka Securities EUTRADE
Eureka Securities Web-based trading platform is the EUTRADE which provides an unparalleled experience of trading. The platform has really advanced technologies and the features are in abundance.
Eureka Securities Mobile Trading App: Eureka Securities EUMOBILE App
Eureka Securities Mobile trading application is known as MOBILE. This is an application that you can use for Android and Blackberry devices. The mobile application is a simple application that takes less space on your mobile but provides all that you need for trading.
|Eureka 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?||Yes|
|Are they providing Web Trading Platforms?||Yes|
|Do they have a 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 Eureka Securities Trading Applications?
Let us now see the features each of the trading platforms has and how they are beneficial for your trading.
Eureka Securities Trading Terminal: Eureka Securities NEST Features
It is the most popular and at present one of the best and most advanced platforms for trading. This is mainly for the traders who trade regularly and in bulk that is for the heavy traders and the intraday traders. This doesn’t mean that other traders cannot use this platform, this is for all.
- It has features like technical indicators, research, and analytical tools that one can use for their own research. There is an abundance of historical data, charts, and many other resources.
- It is one of the fastest terminals that are present in the industry as present and well maintained.
- It provides alerts for different market updates whether you are online or offline, notifications keep coming on your mobile, email, or as SMS.
- There are newsflash and other updates about the market keep coming on the terminal itself to keep you updated
Eureka Securities Mobile Trading App: Eureka Securities EUMOBILE App Features
- EUMOBILE has one of the best interfaces and it is simple yet effective for trading purposes.
- It has interactive charts and technical indicators for technical analysis of the stocks that you want to trade
- It offers accuracy and order placing is super easy with the application
- With a strong internet connection, it provides seamless transactions and you can check the market data and scrips real-time information
Eureka Securities Web Trading Platform: Eureka Securities EUTRADE Features
- It is an online trading platform that has a very user-friendly interface
- You can customize the features like a watch list as you require.
- Market information is readily available and you can get a lot of analytical data and resources as well
- There are technical indicators and tools for your research purpose
- It also requires a high-speed internet connection for smooth working and trading
- You do not need to download anything to use this platform, all you need to do is to log in and start trading on EUTRADE.
|Eureka 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|
|Is this software providing Online MF Buy?||Yes|
|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?||No|
|Does this software provide Personalized Advisory?||No|
|Are these platforms capable of Interactive charting?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||No|
|Are they providing Email Alerts?||No|
|Do these platforms have a Multi-Account Management solution?||No|
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What are the various Products provided by Eureka Securities?
The range of Eureka Securities Products is vast and it comprises all the investment instruments that you would require for your investment and a good portfolio mix.
While it includes equities and currencies and derivatives as the basic investment products, it also includes Mutual funds which one can invest in if not interested in direct equity or derivatives investments.
The wide range of products allows the clients to choose as per their investment goals and accordingly invest in them.
|Eureka Securities 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 a product available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as the product?||Yes|
|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 Eureka Securities?
The Eureka Securities Services offered to the clients are more than just the regular brokerage house service. The Demat and trading services are obviously there but it has research and analysis services, IPO services, and intraday trading facilities.
However, the crucial services are portfolio management services which are not offered by all the stock brokerage houses and this firm offers the same. So, if you want financial professionals to take care of your portfolio then you do not have to look further.
The firm has not restricted itself to trading services but also has extended its reach to the trading institution and on its website, you will find a separate page where you can find extensive learning resources.
|Eureka Securities 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?||Yes|
|Do they have Trading Institution available?||Yes|
|What is the Trading Exposure this broker provides?||Upto 5x|
Does Eureka Securities provide Research & Advisory to their clients?
Though the Eureka Securities Research and Eureka Securities Advisory need to be better and offer more resources – research reports and other data as a full-service broker, it does restrict its research services to Eureka Securities Tips and top picks of the day.
It has no circulation of the company reports or the fundamental research reports and others. The advisory team though provides relationship manager’s services and offline advisory as well.
|Eureka Securities Research, Advisory & Stock Tips|
|Here are the various research activities are done by it|
|Does the broker share Fundamental Reports?||No|
|Does the broker share Research Reports?||No|
|Do they provide Company Reports to their clients?||No|
|Are they analyzing the Annual Reports of Companies?||No|
|Do they share Company Stock Reviews?||No|
|Are they sharing Free Stock Tips with their clients?||Yes|
|Do they analyze & share IPO Reports?||No|
|Does the broking company provide Top Picks?||Yes|
|Are they sharing Daily Market Review?||No|
|Do they have Monthly Reports?||No|
|Does the broker provide Weekly Reports?||No|
|Are they having Offline Advisory?||Yes|
|Do they provide Relationship Managers to clients?||Yes|
What are the Customer Care details of Eureka Securities?
Eureka Securities Customer Care branches are available in 35 different locations. The clients can reach the customer care executives for online and offline trading queries and issues.
They also provide dedicated dealer services which is one of the most important services of the customer care department. They are helpful and take care of the client’s issues seriously and try to solve them as soon as possible.
|Eureka Securities Customer Support|
|Let’s have a better understanding of Customer Care Service|
|Are they providing Dedicated dealers to their clients?||Yes|
|Do they allow Offline Trading?||Yes|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||No|
|Does this broker provide Email Support?||No|
|Is this broker having Chat Support?||No|
|How many Branches the stock broker has?||35|
Are there any Complaints filed against Eureka Securities by their clients?
Eureka Securities Complaints details from last year prove the last section that you have just read about the customer care services and their overall services and the products they offer.
In the last year, there had been only one complaint on NSE which was also solved in the same year only.
|Eureka 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?||1|
|How many of these complaints have been Resolved in NSE?||1|
What Are The Advantages / Benefits Of Eureka Securities Trading Account?
The various benefits of trading with Eureka Securities Trading Account are –
- You get various products and services to trade. There is a bigger investment horizon for you. You can trade as per your investment goal of yours and do not have to shuffle between brokerage houses to trade different instruments.
- There are trading platforms that are widely accepted and used and are well-developed with recent technologies and advanced features.
- There are no maintenance charges for the Demat and trading accounts – so no recurring charges for the accounts.
- The margin requirement is average
- They provide great customer support to the clients which is one of the biggest pluses for this firm
- Brokerage charges are at par with the market–average rates.
What are the Eureka Securities Review & Ratings as per their Customer?
From the Eureka Securities Ratings, you can understand that the firm is doing averagely fine but it needs improvement in all the segments.
you talk about the trading platforms or the brokerage plans or the products and services all are rated around 6 pointers according to the Eureka Securities Review by the customers which means it is just above the average mark.
|Eureka Securities Ratings & Reviews|
|We are looking at Company’s Ratings on various parameters|
|Stock Market Research & Broking Advisory||6.2/10|
|Brokerage & other Charges like – Turnover, Transaction Charges, etc.||6.4/10|
|Types of Products & Services the Brand provides||6.3/10|
|Performance Mobile App, Trading Terminal & Web Trading Platform||6.1/10|
|Experience in the Broking Business||6.0/10|
|Total Avg. Rating of Broking House||6.3/10|
|Star Rating given to Stock Broker||★★★☆☆|
|Number of People Contributed to These Ratings||312|
Eureka Securities Conclusion
As per the above Eureka Securities Review, we can suggest that the firm – Eureka Securities needs a little bit of betterment, especially in its research and analysis services, and also better its trading platforms especially.
The brokerage charges are more or less fine and at par with the market rates. So, for an investor, trader, or for a new trader, it can be one of the best firms to start investing with us you can pay less brokerage and enjoy lots of services with it.
Open Demat Account Now – Fill up the Form Below