Beeline Broking Review
Beeline is a Broker trained in offering services of Stock Broking, based out in Ahmedabad, Gujarat, and was established in 2015. The brand promoted by Mr.Vanesh Panchal, Mr.Pradeep Sandhir, and Mrs. Khushbu Shah.
You can find this company headquartered in Ahmedabad and Gandhinagar in Gujarat. The Former is an online Discount Broker offering services for the year 2019.
It also provides you with trading and investment services in BSE, NSE, MCX as well as NCDEX.
You can invest in services like equity, derivatives, currency, commodity as well as insurance. So having this broker can offer you services you are looking forward to in terms of investment.
With them, you not just get a traditional plan, but you also get a discount brokerage plan too.
You get ideas in various segments like – equity, F&O, currency as well as MCX. The company charges a brokerage of Rs. 18 on every executed order in discount brokerage plan. The broker is a registered member with SEBI and Stock Exchange.
This broker is a member of MCX as well as NCDEX, so you get the commodity trading opportunity with Beeline Commodities Pvt Ltd.
You get trading platforms like- NSE Now, ODIN to gain access to the platform for the best understanding of returns.
It has also offered an installable trading terminal and trading website, as well as a mobile application, to provide you with the best trading experience.
Beeline Broking Pricing & Charges
#1 Account Opening Charges & Annual Charges
If we talk about “annual charge” you need to know that you need to pay opening fees for starting an account. You need to pay the account opening fees as follows-
- Concerning this broker, you need to pay the “Zero” trading cost if you choose to open an account with Beeline.
- AMC charge on trading and DEMAT account is “NIL“
- There is a zero charge on Beeline AMC for the DEMAT account, while Rs.876 is payable as a one-time cost.
DEMAT Account Opening Charges = Rs.0 Free
Trading Account Opening Charges = Rs. 0 Free
DEMAT Account Annual Maintenance Charges (AMC) = Rs. 0 Free
Trading Account Annual Maintenance Charges (AMC) = Rs. 0
#2 Beeline Broking Brokerage Charges
This broker has different sets of plans that offer brokerage charges. Concerning the creation of a Trading account, DEMAT account, you come across these changes.
You don’t need to pay for the Trading account, but if you wish to create a Demat Account opening charge for Rs. Eight hundred seventy-six will be payable as one-time fees.
But there is no trading AMC, but you can get DEMAT Annual maintenance charge with Rs. 876 as one-time fees.
But you can get a brokerage of Rs. 18/trade as a brokerage for equity delivery while you need to pay a brokerage of Rs. 18/trade for equity intraday.
|MCX Commodity Futures||18/trade|
|NCDEX Commodity Futures||18/trade|
#3 Transaction & GST Charges
“Beeline” offers you the opportunity to make investment decisions. So, to have a choice, it’s essential to have a segment based decision.
When you invest in the sector like- equity delivery, you need to pay a transaction fee of 0.00325% for NSE and 0.00275% for BSE both sides.
For equity futures, you need to pay a transaction fee of 0.00215% whereas, for equity options, you need to pay a transaction fee of 0.056%.
The currency futures charges 0.00135%, and for currency option, it’s 0.046%. Whereas if you trade in the commodity, you need to pay 0.0026% for MCX while you are bound to pay 0.004% as NCDEX.
|Charges||Equity Delivery||Equity Intraday|
|Brokerage||Rs. 18/trade||Rs. 18/trade|
|STT Charges||0.1% on both Buy and Sell||0.1% on both Buy and Sell|
|Turnover charge||NSE: 0.00325% | BSE: 0.00275%||NSE: 0.00325% | BSE: 0.00275%|
|GST||18% on (Brokerage + Transaction Charge)||18% on (Brokerage + Transaction Charge)|
#4 Other Charges
|1||Demat Account Opening Charge||nil|
|2||Stamp charges||Not applicable|
|3||AMC For individual||Lifetime Free with a one-time payment of 876/-|
|4||AMC for corporate||1800 (Payable upfront every year)|
|5||Transaction in Indian market w.r.t to selling||35/transaction|
|6||Transaction in Indian market w.r.t to buying||nil|
|7||Inter Depository Transfer buying||nil|
|8||Inter Depository Transfer selling||35/transaction|
|9||DEMAT||10 per Certificates + ₹40 postage charges|
|10||REMAT||40 per certificate|
|11||Courier charges||40 per certificate|
|12||Pledge creation/closure/invocation||35 per transaction type|
|13||Non- periodic statement||7/request|
|14||Every additional booklet||15/ DIS request|
|15||Cheque bounce per transaction||30/ request|
|16||Failed Transaction||30/ transaction|
|17||Modification of CML||7/ request|
|18||Freeze/unfreeze request||30/ request|
Leverage, Exposure, Beeline Margin Limit
|Equity Delivery||Upto 3X margin|
|Equity Intraday||Upto 10X exposure|
|Equity Future||Upto 5X leverage|
|Equity option||Upto 5X intraday|
|Currency Future||Upto 4X intrady|
|Currency option||Upto 4X|
|Commodities Future||Upto 4X|
With Beeline, you get to understand that exposure is needed for various offerings.
And it allows you to invest in equity delivery, equity intraday, equity future, equity option, currency future, currency option, and commodities.
Here are the listed exposure limits on the following offerings aforesaid by Beeline.
Which allows you to earn 10 times leverage on intraday, 5 times on equity option and future while you earn 4 times exposure on currency and commodity trading?
Beeline Trading Platform
NSE NOW- It’s a web platform that is given to the investor to invest and interact in the stock market. And be benefitted via investing in the stock market and you get features like- Market Watch exchange, real-time data, and live market analysis.
And you also get the chance to see indicators predicting the market about its variations. So using this you get the alerts about the market change.
Mobile Trading – You need to use this mobile trading platform to get results and ensure your needs are fulfilled.
But the company is yet to offer this service so with Beeline mobile trading is yet to introduce this feature for their traders.
Beeline Customer Rating
If we talk about services offered, it’s essential to know that the beeline has its set of charges that it imposes.
So basis, the services it provides let’s evaluate and rate the performance of the broker.
Branches in INDIA
Beeline is an online broker providing you with reasonably priced services to their customers. Beeline is keen on offering cost-effective services via trading platforms.
You can get the trading platforms for your trade like- Trading Terminal, Mobile Application, and Website. And this company has its office at Ahmedabad, Gujarat.
For franchise and sub-broker service, this broker has a dedicated office in Punjab as well as Gujarat. Beeline’s office is located at- Beeline broking ltd. B 307, Ganesh Plaza, Beside Navrangpura Post Office, Navrangpura, Ahmedabad 380009 Gujarat.
Advantages And Disadvantages – Beeline Broker
So if we talk about the benefits as well as the disadvantages of this broker you will come to know what is the downfall of choosing this broker, let’s learn about the same in detail-
|Get the benefit of loyalty reward points. This broker also offers you with the relationship manager.||If you are using the installable ODIN, then you need to pay the software charges that amount worth Rs. 150.|
|You need to pay Rs. Eight hundred seventy-six as one time fees and get a demat account free from AMC.||And You need to pay Rs.150 if you are using NSE now for trading in BSE.|
|You get to earn 10% revenue on the first layer referral while you get to make a reference of 5% on the second layer.||Every call and trade is chargeable at Rs.20. You don’t get access to mutual Funds, as well as online trading in IPO.|
|Get access to platforms like NSE NOW and ODIN trading platform.||It doesn’t offer you with 3 in 1 account as it’s not a banking institute.|
|You can open free trading and DEMAT account with Beeline. While call and trade options are available at an additional fee of Rs. 20.||Nor it has any branch office, franchise, sub-broker service except one office in Ahmedabad.|
How to Open Beeline Demat Account
Opening a DEMAT account with Beeline is easy and can allow you to make wise decisions w.r.t investments. They are stock and commodity brokers based in Ahmedabad.
Being a registered broker with BSE, NSE, and MCX it helps you trade in the commodity, currency as well as equity.
From 2015 November, It is also a DP- depository participant with NSDL. Its NSDL registration number is – IN-DP-162-2015 (17th Nov 2015) and SEBI Registration Number is INZ000000638 (13th Nov 2014).
This broker allows you to make the long term investment in shares, IPO, mutual funds, bonds, etc.
- This broker offers you with 2 in 1 account, which means you can perform seamless transactions without worrying about so many accounts and its management.
- For opening a Demat account of an individual resident, there are particular schemes to be considered. When you enroll for lifetime AMC after a one-time payment of Rs. 876, you don’t need to pay AMC any further. It’s a nominal charge charged against the broker unique while other brokers charge Rs. 1000.
- Features of Beeline Demat Account broadly speak about easy account management of the DEMAT account after payment of one-time fee worth 876 and get an AMC free account for lifetime.
- It comes with a depository participant of NSDL since 2015 and also offers the facility of having an NRI Demat account.
- Opening a Beeline DP account is free from any charge, and DP account AMC is available for use after making a one-time payment of Rs. 876.
Contact Support Customer Care
With Beeline, you get the following services- online trading and email support. Whereas you don’t get the opportunity to trade offline, 24*7 support, chat support, toll-free number and branch support.
But for resolution of the grievance, you can reach the broker at their email Id- [email protected]
Reasons to Open an Account with Beeline
- There is no opening charge
- Real-time fund transfer is possible
- You get dedicated RM
- Analyze investor behavior
- Get access to a two-layer referral plan
- Lifetime earning plan
Beeline NRI Account
For opening the NRI account, you need to have the prerequisites in place. And it includes the following details like- PAN Card, NRI bank account details with either HDFC or axis bank.
And for opening such an account you also need PIS permission from RBI. For doing so, all you need to do is download the form from the website, print, fill, sign, and self attests all documents and send it to authorities.
You can send the same to the Ahmedabad office, and on scrutiny of materials, a one to one call will arrange for IVR representative.
On successful check-up, you will be offered the login and password to access the Beeline. Ensure your document is attested by notable authorities like- Indian Embassy/ Consulate General, Magistrate, Local Banker, Judge, Any Court, Notary Public of the residing country is allowed.
You need to submit an Indian passport, valid VISA, copy of PAN card, foreign passport, copy of PIO/OCI, PIS letter, photo of investor and proof of band, and depository account.
Beeline Comparison with Full-Service Broker
|Service Type||Discount Broker||Full-Service Broker|
|Brokerage Range||Rs.18||0.1 to 0.5%|
|Account Type||2 in 1||2 in 1|
|Equity Delivery||Flat fee Rs. 18||0.5% or 50 paisa|
|Equity Intraday||Flat fee Rs. 18||0.1% or ten paisa|
|Equity Future||Flat fee Rs. 18||With Sharekhan you get 0.1% or ten paisa|
|Equity Option||Pay a Flat fee Rs. 18||2.5% of premium or Rs. 250 per lot whichever is |
|Commodity||Flat fee Rs. 18||0.1% or ten paisa|
|Currency Future||Flat fee Rs. 18||0.1% or ten paisa|
|Currency Option||Flat fee Rs. 18||2.5% of premium or Rs. 30 per lot whichever is |
Beeline Comparison with Discount Broker
|Service Type||Discount Broker||Discount Broker|
|Brokerage Range||Rs.18||Rs. 20|
|Account Type||2 in 1||2 in 1|
|Equity Delivery||Flat fee Rs. 18||Free|
|Equity Intraday||Flat fee Rs. 18||0.01% or Rs. 20 |
whichever is lower
|Equity Future||Flat fee Rs. 18||0.01% or Rs. 20 |
whichever is lower
|Equity Option||Flat fee Rs. 18||A flat fee of Rs. 20|
|Commodity||Flat fee Rs. 18||A flat fee of Rs. 20|
|Currency Future||Flat fee Rs. 18||0.01% or Rs. 20 |
whichever is lower
|Currency Option||Flat fee Rs. 18||A flat fee of Rs. 20|
Beeline Customer Complaints
For the financial year, 2015-16 BSE has a total of clients 14,472 out of which only five complain has been reported. While for NSE in the aforesaid financial year, a total of clients 30,544 out of which only Twenty-nine complain was reported.
|S.No.||Securities Exchange||Complaints Received / Total Clients|
|1||BSE- Bombay Stock Exchange||5 / 14472|
|2||NSE- National Stock Exchange||29 / 30544|
To make things easy for a newbie in the field of trading. It’s essential to understand that trading is “not everyone’s cup of tea,” as fewer people are aware of the stock market and trading.
So choosing Beeline, you will not regret it. It’s essential to know the pricing model and prevent hidden charges from being charged. So take a wise decision by taking steps that cater to your investment needs.
Having a broker like “Beeline” makes life easy with trading. So get used to it and enjoy life with trading and investment.
Closing your Demat Account with Beeline
For Account closure of the Demat Account, Trading account, or even both, all you need to do is submit the Account closure request signed. You can download the form from the Beeline website under a dedicated head called DOWNLOAD.
And the transfer of shares and money is possible with Beeline before you initiate with the closure of the account. Using off-market slips, you can also transfer your DEMAT account.
On receiving the account closure form, you will be contacted by the customer care representative to confirm your intention of closing the account.
Please note- beeline doesn’t close any account until all dues cleared, so it will not happen over call or email. Here are the easy steps to close your DEMAT account with Beeline-
- Go and visit the website and click on the Download section and get started with your journey.
- Soon after downloading the account closure form, submit a printout to take this ahead.
- Ensure you submit and fill – DP ID, client ID, name, as well as address duly signed form.
- Before initiating the closure, it’s crucial to fill the DIS- delivery instruction slip.
- Your account will close within 7 to 10 working days on submitting the form at the branch office.
Can a DEMAT Account be Opened at Beeline for minor Son/Daughter?
Ans- Yes, opening a DEMAT account is easy and can be opened in a minor child’s name quickly. But the report should be opened by a guardian like- parents or immediate grandparents/ guardians of the child. The person opening the story should also provide supporting documents concerning their identity. Traders trading in equity delivery are eligible for opening an account on the minor’s name while customers trading in future or option restrained for opening a DEMAT account in the name of the child.
What is the maximum number of joint holders for one Demat account?
Ans- There can be a maximum of three joint holders for one DEMAT. So at max. You can only have three joint shareholders against one DEMAT Account.
Can we open a DEMAT account in the name of a limited liability partnership?
Ans- Yes you can open a DEMAT account in the name of LLP or a registered company.
Is Pan Card Compulsory To Open Beeline Account?
Ans- PAN Card is a mandatory Detail that needs to be shared while opening an account with Beeline. So you can start with the same.
What are the Trading platforms and Trading Software Beeline uses?
Ans- Trading platforms offered by Beeline are as follows- NSE Now and ODIN. The former software used as the installable trading terminal can link with the website as well as a mobile application. Whereas if we talk about them later, it’s only a trading terminal, not for a website or mobile app.