An important step in investing in the stock market is deciding which stockbroker to use. It has the ability to significantly impact your investment returns, trading experience, and overall satisfaction. So, in today’s article, we will talk about a comprehensive review of Indbank Online, which is one of the leading stockbrokers in India. To help you make an informed decision, we will assess numerous factors such as brokerage fees, customer support, trading platform, and much more.
Overview
Indbank Online is a Private company headquartered in Chennai, Tamilnadu which is founded in 1989 by P.A.Krishnan. Indbank-Online is a Full Service Broker that strives to provide cost-effective buy/sell orders, helping investors to save money when in comparison with Discount Broker. However, it is vital to note that Indbank Online work as a Discount Broker because it offers thorough investment advice and complete stock analysis to its clients. Indbank Online is an NSE and BSE-listed company with over Nil branches in India.
Overview
Indbank Online
Broker Type
Full Service Broker
Type of company
Private
Headquarter
Chennai, Tamilnadu
Founders
P.A.Krishnan
Foundation Year
1989
Supported Exchanges
NA
Total branches
Nil
Indbank Online Account opening charges
You need to open a demat account and a trading account, to start trading with Indbank Online. So, to open a trading account with Indbank Online, you need to pay a fee of Rs.219. However, the trading annual maintenance charges of Indbank Online are free. And Demat annual maintenance charges are Rs.349 per Annum. There are also no fees for margin money or transfers from an offline to an online account. And Indbank Online is registered with CDSL i.e., Central Depository Services Limited as a Depository Participant (DP).
Account Opening and Demat Charges
Indbank Online
Trading Account Opening Charges
Rs.219
Demat AMC (Annual Maintenance Charges)
Rs.349 per Annum
Trading AMC (Annual Maintenance Charges)
Free
Margin Money
Minimum Rs.5,000
Offline to Online Charges
Yes
Depository
CDSL & NSDL
Indbank Online Brokerage Charges
Brokerage fees are an important factor to consider when choosing a stockbroker. Here are Indbank Online brokerage charges for various segments:
Equity delivery: There are no fees for equities delivery trades with Indbank Online This implies you can invest in equities without paying any brokerage charges.
Equity intraday: Indbank Online charges a brokerage fee of 0.01% – 0.02% per order.
Equity futures: The brokerage cost for equity futures is 0.01% – 0.02% as well.
Equity options: Indbank Online charges a brokerage fee of Rs.10 – Rs.20 per Lot for trading equity options.
Currency: Unleash your trading potential with Indbank Online’s dynamic 0.01% – 0.02% charges.
Commodity: For commodity options trading, Indbank Online charges a brokerage fee of 0.01% – 0.02%.
Equity Brokerage Charges
Equity Brokerage Charges
Indbank Online
Equity Delivery Brokerage
0.1% – 0.2%
Equity Intraday Brokerage
0.01% – 0.02%
Equity Futures Brokerage
0.01% – 0.02%
Equity Options Brokerage
Rs.10 – Rs.20 per Lot
Currency Brokerage Charges
Currency Brokerage Charges
Indbank Online
Currency Futures Brokerage
0.01% – 0.02%
Currency Options Brokerage
Rs.10 – Rs.20 per Lot
Commodity Brokerage Charges
Commodity Brokerage Charges
Indbank Online
Commodity Options Brokerage
0.01% – 0.02%
Indbank Online Other Charges
Minimum brokerage charges: At Indbank Online, we’ve revolutionized our fee structure by introducing a unique minimum brokerage charge based on a Percentage of Transacton.
Transaction brokerage charges: A transaction brokerage fee of 0.00305% of Total Turnover is to be paid by a customer.
SEBI turnover charges: The Securities and Exchange Board of India (SEBI) levies a 0.0002% of Total Turnover charge.
Stamp duty charges: The total amount of stamp duty charged is determined by the state and the type of asset.
GST charges: GST is charged at 18% of (Brokerage + Transaction Charges).
STT (Securities transaction tax): STT is levied at a rate of 0.0126% of Total Turnover by Indbank Online.
Call and trade charges: If you use call and trade service, the charges of Indbank Online are NA.
Other Brokerage Charges
Indbank Online
Minimum Brokerage Charges
Percentage of Transacton
Transaction Brokerage Charges
0.00305% of Total Turnover
SEBI Turnover Charges
0.0002% of Total Turnover
Stamp Duty Charges
As per the state
GST Charges
18% of (Brokerage + Transaction Charges)
STT Charges
0.0126% of Total Turnover
Call and Trade Charges
NA
Indbank Online Equity Leverage
Leverage allows traders to enhance their market exposure while using a smaller quantity of capital. Indbank Online offers Upto 1x times leverage on equity delivery, Upto 7x times leverage on equity intraday, Upto 2x times leverage on equity futures, and Upto 2x times leverage on equity options.
Here is the leverage provided by Indbank Online:
Equity Leverage
Indbank Online
Equity Delivery
Upto 1x
Equity Intraday
Upto 7x
Equity Futures
Upto 2x
Equity Options
Upto 2x
Indbank Online Currency Leverage
Indbank Online also offers currency trading leverage. Leverage is available for Currency Futures up to Upto 4x times and Currency Options Upto 3x times.
Currency Leverage
Indbank Online
Currency Futures
Upto 4x
Currency Options
Upto 3x
Indbank Online Commodity Leverage
Indbank Online offers Upto 2x leverage for commodity trading.
Equity Leverage
Indbank Online
Commodity
Upto 2x
Indbank Online Offers
Many stockbrokers are enticing customers with appealing deals in order to boost their client base. Here are some of the fantastic deals that Indbank Online gives to its consumers. They give you a free stock trading account, a free demat account, and various brokerage discounts.
Offers
Indbank Online
Free Stock Trading Account
Yes
Free Demat Account
No
Flexible Plans
Yes
Brokerage Discounts
No
Happy Hours
No
1 Month Free Plan
No
Holiday Offers
Yes
Referral Program
No
Zero Brokerage on Loss Trades
No
Indbank Online Features
Discount Broker:Indbank Online, a reputable online stock broker in India, offers regular investors low-cost brokerage services. It imposes a brokerage fee of Percentage of Transacton executed, regardless of trade category, size, or exchange. They also offer Upto 7x trading leverage.
Range of Investment Products: Indbank Online is a one-stop shop for all of your financial investment requirements. It allows you to trade stocks, commodities, and currencies on the BSE, NSE, and MCX. It also provides investment opportunities in mutual funds, SIPs, gold, peer-to-peer lending, initial public offerings (IPOs), and currency trading.
Subscription Plans: Indbank Online paves the way for a personalized trading experience with its exclusive selection of subscription plans: the Basic Pack, Power Investor Pack, and Ultra Trader Pack. These services include a variety of features and perks, such as lower brokerage fees, research advisory, free trades, and specialised customer support.
Research and Advisory Services: Indbank Online differentiates out by offering comprehensive research and advising services. It provides solutions for both short-term and long-term investment ideas, as well as derivative methods and portfolio-based investment ideas. The platform also includes a portfolio analyzer tool for evaluating the overall performance of all your investments.
Margin Funding: Indbank Online provides margin funding services. These can be used to make partial payments on cash segment transactions. Indbank Online lends the remaining balance at a low interest rate.
Mobile Trading App and Trading Platforms: Indbank Online provides an easy-to-use mobile trading app, as well as a web-based trading platform and an installable trading terminal. These platforms provide flawless trading experiences and are built with cutting-edge technology. The mobile app gives users access to trading, robo-advisory, and a variety of investment choices.
Demat Account Services: Indbank Online offers demat account services through its membership with CDSL. It has been designated as a top depository participant by the CDSL.
Low Charges: Indbank Online is recognised in the brokerage sector for having the lowest fees. Unleash your trading potential with Indbank Online’s 0.01% – 0.02% brokerage fee and exclusive value-add packs for enhanced benefits. 5Paisa also provides free account opening and no-brokerage mutual funds.
Algo Trading and Robo Advisory: Indbank Online provides robo-advisory and algo trading services to its clients. These services enable in the automation of trading strategies and provide tailored investment advice based on risk profiles and expected returns.
Customer Support: Indbank Online offers personally tailored customer service to its consumers. The power investor and ultra trader packs both feature free customer assistance.
Features
Indbank Online
Equity Delivery Trading
Yes
Equity Intraday Trading
Yes
Equity Futures Trading
Yes
Equity Options Trading
Yes
Currency Trading
Yes
Commodity Trading
Yes
IPO (Initial public offering)
Yes
Stocks Suggestions
No
Robo Advisory
No
PMS (Portfolio Management Services)
No
Trading Institution
Yes
Trading Exposure
Upto 7x
Mutual Funds
Yes
SIP (Systematic Investment Plan)
Yes
Forex Trading
No
Banking
No
Insurance
No
Indbank Online Advisory Services
The primary distinction between a full-service broker and a discount broker is the range of services given and the prices charged.Indbank Online offers research papers with the top recommendations, which are developed by industry specialists. On their website, Indbank Online also offers annual reports, as well as daily market reviews and weekly reports.
Services
Indbank Online
Fundamental Reports
Yes
Research Reports
Yes
Company Reports
Yes
Annual Reports
Yes
Company Stock Review
Yes
Free Stock Tips
Yes
IPO Reports
Yes
Top Picks
Yes
Daily Market Review
Yes
Monthly Reports
Yes
Weekly reports
Yes
Offline Advisory
Yes
Relationship Manager
Yes
Indbank Online Trading Platforms
To fulfil the various needs of its consumers, the Indbank Online trading software comprises a number of trading platforms. It was built on the IIFL trading platform, and clients have trusted it for more than two decades now. A web browser-based platform, mobile app and an installable desktop trading application are the three types of trading platforms.
Desktop Trading Platforms
Indbank Online
Windows
Yes
Mac
No
Desktop Browser
No
Indbank Online Mobile App
Indbank Online offers mobile trading through the Indbank Online app, including BSE/NSE trading and robo-advisory services. This app is compatible with iOS, Android, and mobile browsers. With the software, users are able to buy stocks, trade futures and options, and invest in mutual funds, exchange traded funds, bonds, and other investments.
Mobile App
Indbank Online
Mobile Browser
Yes
Android App
Yes
iOS App
Yes
Windows App
No
Other Mobile OS
No
Indbank Online Customer Support
Online trading support: Indbank Online can assist customers with online trading. A range of trading platforms are available for traders, including mobile apps, online browsers, and desktop programs.
24*7 support: Indbank Online offers its consumers 24-hour support. The customer service team is available and accessible 24/7, which means you can contact them at any time, even during non-business hours.
Email support: Customers can contact Indbank Online5Paisa’s customer support staff via email if they require assistance. Customers can send their queries and issues to the company’s email address.
Customer Support
Indbank Online
Relationship Manager
No
Offline Trading
Yes
Online Trading
Yes
24 * 7 Support
No
Email Support
Yes
Chat Support
No
Toll free number
No
Support Branches
76
Indbank Online Complaints
Brokerage firms can assess the quality and reliability of their services by evaluating how many complaints they receive. There are a total of 0 BSE complaints, of which 0 have been resolved, which amounts to NaN % in percentage terms. And, when it comes to NSE complaints, there are 6 of them, with 6 of them resolved, for a percentage of 100.00 %. And the percentage of BSE/NSE complaints resolved is 100.00 %
The table below highlights the complaints acquired by Indbank Online.
BSE Complaints
Indbank Online
BSE Complaints
0
BSE Resolved Complaints
0
Percentage of resolved BSE complaints
NaN %
NSE Complaints
6
NSE Resolved Complaints
6
Percentage of resolved NSE complaints
100.00 %
BSE/NSE Complaint vs. Resolved Percentage
100.00 %
Conclusion
In conclusion, Explore Indbank Online’s intuitive platforms for a diverse range of trading and investment opportunities, tailored to your needs. It is one of the best possibilities for investors, with low prices and a wide range of investment prospects. However, the absence of comprehensive customer support, as well as the number of consumer complaints, are cause for concern. In light of all the features and user experience, Indbank Online can be considered a good stock broker, but you must carefully evaluate the pros and cons before choosing it.
