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Upstox Vs Nirmal Bang – Broker Comparison | Find Best Broker

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Upstox Vs Nirmal Bang an Overview:

A table-wise segmented analysis, comparing Upstox vs Nirmal Bang is discussed below. The study will help any investor to understand and get highlighted about the pros and cons of Upsotx and Nirmal Bang which in turn will help them to decide and make the right decision whether they want to opt for Upstox or Nirmal Bang.

A Brief:

Upstox is a stock broking company which provides different services in the financial sector and are popular for trading at a very low cost and at nominal charges along with the concept of a whole lot of features like paperless account opening, free equity investment, unlimited plans to trade on a fixed price and much more.

Intending to give maximum returns to the investors, Nirmal Bang came into existence as a brokerage firm.

They cater to clients belonging to both institutional and retail with various financial products and services ranging from the brokerage of equities to commodities, online trading, fixed deposits and bonds, mutual funds and many more.

Upstox Vs Nirmal Bang
Upstox Vs Nirmal Bang

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Emerging as a discount broker, Upstox emerged in the year 2009 with an idea of an easy and cheaper way of trading which made Upstox gain its popularity soon within a short period with a turnover of 4000 Cr. by early February 2016.

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Another factor of their speedy success was due to their strong backend support from notable and renowned stock traders like Ratan Tata, GVK Davis, and Capital Kalaari.

Founded in 1997 with headquarter in Mumbai, the company started as a Full-Service Broker with people at the top-level management with very high professional background and experience and was headed by Nirmal Bang, Dilip Bang, and Kishore Bang.

OverviewUpstoxNirmal Bang
Organization TypePrivatePrivate
Broker CategoryDiscount BrokerFull-Service Broker
Head OfficeMumbai, IndiaMumbai, India
Founded ByRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
Nirmal Bang
Commencement Year20091986

Upstox Vs Nirmal Bang Customer Ratings: 

Customer Ratings are an integral part of any business house to judge how happy their customers are.

The figures below show that both Upstox and Nirmal Bang are more or less close to each other and consistent in their services in terms of customer ratings and their satisfaction by keeping a score in and around 6.0, except that Upstox has very high variation from a low rating of 3 in Stock Research & Advisory to as high as 9.5 in Brokerage Charges & Fees.

Customer RatingsUpstoxNirmal Bang
On Experience5.3 out of 106.5 out of 10
On Products & Services6.5 out of 106.2 out of 10
On Brokerage Charges & Fees9.5 out of 106.7 out of 10
On Stock Research & Advisory3.0 out of 106.0 out of 10
On Trading Platforms6.5 out of 106.5 out of 10
On Overall Ratings6.2 out of 106.4 out of 10
On Star Ratings★★★☆☆★★★☆☆

Upstox Vs Nirmal Bang AMC & AOC: 

While comparing AMC & AOC between Upstox and Nirmal Bang, it is noticed from the below table that in few cases Upstox charges more while in other few cases, Nirmal Bang charges higher.

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The only noticeable point here is that Nirmal Bang charges a very high amount of Rs.10,000 for Margin Money where Upstox doesn’t charge any amount from their customers.

DEMAT ServicesUpstoxNirmal Bang
Depository ParticipantCDSLCDSL
Charges for Account Opening Rs.150Zero
AMC on DEMAT Rs.150 per AnnumRs.200
AMC on TradingFreeFree
Marginal MoneyZeroMinimum Rs.10,000
Offline to Online

Upstox Vs Nirmal Bang Brokerage Fee: 

As discussed earlier, Upstox charges a nominal fee or Rs.20 whereas Nirmal Bang charges on a percentage basis in most of the cases while charges for Margin Money are as high as Rs.10,000 by Nirmal Bang.

Brokerage Charge & FeesUpstox BrokerageNirmal Bang Brokerage
Equity Delivery TradingZero0.20%
Equity Intraday TradingRs.200.02%
Commodity Options TradingRs.20NA
Equity Futures TradingRs.200.02%
Equity Options TradingRs.20 per lotRs.35 per Lot
Currency Futures TradingRs.200.02%
Currency Options TradingRs.20 per lotRs.20 per Lot
Minimum BrokerageRs.20Percentage of Transaction
DEMAT AMC ChargesRs.150 per annumRs.200
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000

Comparison on Administrative Charges: 

In the case of Administrative Charges, the Transaction Charges are higher of Nirmal Bang than that of Upstox.

Other ChargesUpstoxNirmal Bang
Transaction Charges0.00275% of Total Turnover0.00390% of Total Turnover
STT0.0126% of Total Turnover0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)

Comparison of Offers & Discount:

The comparative table below shows that not many Offers & Discounts are provided by Upstox. Nimal Bang, on the other hand, has more Offers & Discounts for its customers than provided by Upstox.

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OffersUpstoxNirmal Bang
Free DEMAT Account
Free Trading Account
Discount on Brokerage
Trading Happy Hours
Flexible Brokerage Plans
1 Month Brokerage Free
Holiday Offers
Referral Offers
Zero Brokerage for
Loss Making Trades

Comparison on Services Offered: 

Number of Services Offered by Upstox and Nirmal Bang is not many, and are almost the same, except that Robotic Advisory service is provided by Upstox which is not a service provided by Nirmal Bang whereas Stock recommendations and PMS services are provided by Nirmal Bang which is are not provided by Upstox.

ServicesUpstoxNirmal Bang
DEMAT Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robotic Advisory
PMS
Trading Institution
Trading ExposureMaximum 20xMaximum 10x

Upstox Vs Nirmal Bang Research & Advisory: 

Looking at the table below on the analysis of research and advisory, it is prominent that Upstox is not engaged in any kind of analysis of research and advisory for its clients.

While on the other hand, Nirmal Bang engages themselves in quite a several research and advisory system which they provide as a service to their clients.

Research & AdvisoryUpstoxNirmal Bang
Fundamental Reports
Research Reports
Company Reports
Annual Reports
Company Stock Review
Free Stock Tips
IPO Reports
Top Picks
Daily Market Review
Monthly Reports
Weekly Reports
Offline Advisory
Relationship Manager

Upstox Vs Nirmal Bang Margin/ Exposure/ Leverage

Leverages provided by both Upstox and Nirmal Bang are just a mix and match which is noticeable from the below table and is higher of Upstox than Nirmal Bang.

Exposure / LeverageUpstox Margin Nirmal Bang Margin
Equity DeliveryMaximum 5xMaximum 3x
Equity IntradayMaximum 20xMaximum 10x
Equity FuturesMaximum 7xMaximum 4x
Equity OptionsMaximum 8xMaximum 5x
Currency FuturesMaximum 5xMaximum 3x
Currency OptionsMaximum 6xMaximum 2x
CommoditiesMaximum 7xMaximum 3x

Comparison on Product Offered: 

It is very clear from the below table that Nirmal Bang has more products to offer for investors than that of Upstox.

ProductsUpstoxNirmal Bang
Equity Trading
Commodity TradingNo
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Upstox Vs Nirmal Bang Trading Platform: 

In the case of trading platforms, Upstox uses more variety as compared to Nirmal Bang. It is also noticed that, except for Windows app and other mobile OS platforms, Upstox uses all other possible means of trading platforms, wherein Nirmal Bang has very limited Trading Platforms for its clients.

Trading PlatformsUpstoxNirmal Bang
Desktop Platform – Windows
Desktop Platform – Mac
Desktop Browser Platform
Mobile Site Platform
Android App Platform
iOS App Platform
Windows App Platform
Other Mobile OS Platform
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management

Comparison on Customer Support: 

This section plays a very important role, and we find that Nirmal Bang has more ways for its customers to get support than that provided by Upstox. Another point to be noted here is that Nirmal Bang also provides support to its customers through their physical branches spread across.

Customer SupportUpstoxNirmal Bang
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZero50
Nirmal Bang Free Demat account
Upstox Vs Nirmal Bang – Nirmal Bang Free Demat account

Comparison of Grievance Handled: 

In terms of grievance handled, for both Upstox and Nirmal Bang in BSE as well as in NSE, we find that Nirmal Bang has an excellent resolution rate of 100%, which is quite rare, in both BSE and NSE while Upstox has a lesser rate of complaint resolution.

Complaints (Current Year)UpstoxNirmal Bang
Lodged in BSE18564
Resolved in BSE12664
Lodged in NSE17591
Resolved in NSE13991

Conclusion:

Both Upstox and Nirmal Bang are pioneers in their line of business with happy and satisfied customers. Both of them have pros and cons in their services and products. Choosing the right broker between Upstox and Nirmal Bang completely depends on the investor’s actual need and the product to trade.

Upstox demat account
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