Veracity Finance Review

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 Veracity Finance, 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

Veracity Finance is a Private company headquartered in Ahmedabad GJ which is founded in 2012 by Kanaksinh Agarsinh Gohil. Veracity-Finance 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 Veracity Finance work as a Discount Broker because it offers thorough investment advice and complete stock analysis to its clients. Veracity Finance is an NSE and BSE-listed company with over Nil branches in India.

Veracity Finance Account opening charges

You need to open a demat account and a trading account, to start trading with Veracity Finance. So, to open a trading account with Veracity Finance, you need to pay a fee of Free. However, the trading annual maintenance charges of Veracity Finance are free. And Demat annual maintenance charges are Rs.350 per Annum. There are also no fees for margin money or transfers from an offline to an online account. And Veracity Finance is registered with CDSL i.e., Central Depository Services Limited as a Depository Participant (DP).

Veracity Finance Brokerage Charges

Brokerage fees are an important factor to consider when choosing a stockbroker. Here are Veracity Finance brokerage charges for various segments:

• Equity delivery: There are no fees for equities delivery trades with Veracity Finance This implies you can invest in equities without paying any brokerage charges.
• Equity intraday: Veracity Finance charges a brokerage fee of 0.04% per order.
• Equity futures: The brokerage cost for equity futures is 0.04% as well.
• Equity options: Veracity Finance charges a brokerage fee of Rs.35 per lot for trading equity options.
• Currency: Unleash your trading potential with Veracity Finance’s dynamic 0.04% charges.
• Commodity: For commodity options trading, Veracity Finance charges a brokerage fee of 0.04%.

Equity Brokerage Charges

Currency Brokerage Charges

Commodity Brokerage Charges

Veracity Finance Other Charges

• Minimum brokerage charges: At Veracity Finance, we’ve revolutionized our fee structure by introducing a unique minimum brokerage charge based on a Percentage of Transaction.
• Transaction brokerage charges: A transaction brokerage fee of 0.00315% 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 Veracity Finance.
• Call and trade charges: If you use call and trade service, the charges of Veracity Finance are NA.

Veracity Finance Equity Leverage

Leverage allows traders to enhance their market exposure while using a smaller quantity of capital. Veracity Finance offers Upto 3x times leverage on equity delivery, Upto 6x times leverage on equity intraday, Upto 2x times leverage on equity futures, and Upto 5x times leverage on equity options.

Here is the leverage provided by Veracity Finance:

Veracity Finance Currency Leverage

Veracity Finance also offers currency trading leverage. Leverage is available for Currency Futures up to Upto 4x times and Currency Options Upto 3x times.

Veracity Finance Commodity Leverage

Veracity Finance offers Upto 2x leverage for commodity trading.

Veracity Finance Offers

Many stockbrokers are enticing customers with appealing deals in order to boost their client base. Here are some of the fantastic deals that Veracity Finance gives to its consumers. They give you a free stock trading account, a free demat account, and various brokerage discounts.

Veracity Finance Features

• Discount Broker:Veracity Finance, a reputable online stock broker in India, offers regular investors low-cost brokerage services. It imposes a brokerage fee of Percentage of Transaction executed, regardless of trade category, size, or exchange. They also offer Upto 6x trading leverage.
• Range of Investment Products: Veracity Finance 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: Veracity Finance 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: Veracity Finance 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: Veracity Finance provides margin funding services. These can be used to make partial payments on cash segment transactions. Veracity Finance lends the remaining balance at a low interest rate.
• Mobile Trading App and Trading Platforms: Veracity Finance 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: Veracity Finance offers demat account services through its membership with CDSL. It has been designated as a top depository participant by the CDSL.
• Low Charges: Veracity Finance is recognised in the brokerage sector for having the lowest fees. Unleash your trading potential with Veracity Finance’s 0.04% 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: Veracity Finance 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: Veracity Finance offers personally tailored customer service to its consumers. The power investor and ultra trader packs both feature free customer assistance.

Veracity Finance Advisory Services

The primary distinction between a full-service broker and a discount broker is the range of services given and the prices charged.Veracity Finance offers research papers with the top recommendations, which are developed by industry specialists. On their website, Veracity Finance also offers annual reports, as well as daily market reviews and weekly reports.

Veracity Finance Trading Platforms

To fulfil the various needs of its consumers, the Veracity Finance 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.

Veracity Finance Mobile App

Veracity Finance offers mobile trading through the Veracity Finance 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.

Veracity Finance Customer Support

• Online trading support: Veracity Finance 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: Veracity Finance 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 Veracity Finance5Paisa’s customer support staff via email if they require assistance. Customers can send their queries and issues to the company’s email address.

Veracity Finance Complaints

Brokerage firms can assess the quality and reliability of their services by evaluating how many complaints they receive. There are a total of 3 BSE complaints, of which 3 have been resolved, which amounts to 100.00 % in percentage terms. And, when it comes to NSE complaints, there are 11 of them, with 11 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 Veracity Finance.

Conclusion

In conclusion, Explore Veracity Finance’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, Veracity Finance can be considered a good stock broker, but you must carefully evaluate the pros and cons before choosing it.