SAMCO

3.5 Overall

SAMCO is India’s first and the only discount broker to provide delivery leverage in equity segment to purchase shares on NSE and BSE. Overall, switching from traditional brokerage to discount broker, SAMCO should improve more on customer support and customer management.

Brokerage Charges4.0
Platforms & Tools 2.5
Customer Service 3.0
Cons
  • Limited trading products
  • Low quality customer support
  • No monthly or yearly fixed price plans

Samco Overview

SAMCO Securities Ltd is one of the leading discount brokerage firms that allows trading across all leading stock and commodity exchanges in India including BSE, NSE, MCX-SX, MCX, and NCDEX. The company has a stronghold in the capital market as a full-service broker from the last 20 years by a formal brand name Samruddhi Stock Brokers Limited.

SAMCO offers Demat services through its membership as a Depository Participant with CDSL. The company facilitates commodity trading through its associated entity, SAMCO Commodities Ltd. The company primarily caters to the retail and corporate clients. It offers margin funding, loan against shares, and other financial products to its customers.


Samco Brokerage Charges

SAMCO is known for its ultra-low brokerage; hence people who shift from full-service brokers like ICICI Direct, or Sharekhan save a bulk-load of commission cost and taxes. SAMCO offers flat rate trading at Rs 20 per executed order. The brokerage is fixed irrespective of the size of the trade, exchange or even segment of trade. Apart from this, SAMCO does not charge any additional brokerage.

SAMCO charges a flat Rs 20/ executed order for all segments, which is equal to Zerodha (Rs 20), RKSV (Rs 20), Tradejini (Rs 20), but slightly expensive than SASOnline(Rs 9) & RK Global (Rs 9),Prostocks(Rs 9) & Trade Smart Online(15 Rs) 

Trading Segment Brokerage Charges
Equity Delivery Rs 20 per executed order
Equity Intraday Rs 20 per executed order
Equity Future Rs 20 per executed order
Equity Options Rs 20 per executed order
Currency Futures Rs 20 per executed order
Currency Options Rs 20 per executed order
Commodity Rs 20 per executed order

SAMCO Margins

As compared to other discount brokers in town, SAMCO offers higher leverage for trading. This means, there are more than 500 stocks available for equity intraday trading with up to 15X leverage. Cover Order (CO), and Bracket Order (BO) are available with up to 33X exposure. Here are SAMCO’s margin products:

  1. CashPlus – Gives 4X equity delivery leverage on more than 300 stocks at an interest rate of 0.05% per day. This means if you have Rs 1Lac in your trading account, you can buy shares worth Rs. 4lacs.
  2. StockPlus – Gives margin against shares for intraday or delivery trades. This allows traders to trade even at Rs. 0 balance.
  3. InstaPlus – Gives margin against shares customer owns to trade intraday.

Here are some unique selling points (USP) of SAMCO.

  • Delivery Funding: Get up to 4x Delivery Leverage in the Cash Markets
  • Margin Against Shares: Trade with ZERO Cash Balance
  • Lowest Margin Requirement: Get Upto 80x Leverage for Nifty, 33x leverage for stocks 60x for commodity

SAMCO Account Opening Charges

Account opening is completely FREE and no account opening charges are applicable.There are no Annual Charges you need to pay for maintaining your Broking Account. However, you will need to pay an AMC of Rs. 400 per annum for your Demat Account. 

Trading Account Opening Charges Nil
Demat Account Opening Charges Nil
Commodity Account Opening Charges Nil
Trading & Commodity Account AMC Charges Nil
Demat Account AMC Charges Rs 400 

Samco Other Charges

  • Call and Trade feature is available at an extra cost of Rs. 20 per call + Service Tax. The first 20 calls n trade are free.
  • Digital Contract notes are sent via Email. Requests for physical contract notes would be charged at Rs 20 per contract note plus applicable courier charges
  • DP charges for delivery based equity selling charged only on sell-side -Rs.10 per transaction in same DP & Rs 25 or 0.02% of transaction value, whichever is higher - for other DP
  • Instant payment gateway charges for over 26 banks - Rs 10 per fund transfer
  • Money withdrawal charges apply as per RBI guidelines

Samco Platforms & Tools

SAMCO provides terminal based, web-based and mobile app based trading platforms to its users.  All of these platforms have their own unique features.

SAMCO Trader

SAMCO trader is a terminal-based windows trading platform suitable for the heavy traders. SAMCO trade is re-branded as NEST trader. It is a stable and user-friendly trading platform. SAMCO trader offers the following features:

  • Market watch
  • Snap Quota trading feature
  • Funds transfer
  • Cover orders, View RMS margin, capital of limit
SAMCO Web Xpress

SAMCO Web Xpress is an HTML trading platform that can be accessed directly through a browser and does not need any installs or downloads. Clients can just enter a valid username and password and start trading from anywhere. This free of cost trading platform has all the features that a user may look for like

  • Full market watch charting
  • Bracket and cover orders
  • Super fast order placements
StockNote

StockNote is a free SAMCO mobile trading app available in Android and IOS. It is known to be highly secure and authenticates the logged in user with numerous algorithms. Some of the features of the application include:

  • Real-time market information
  • Provision to add market watch lists
  • Multiple data points for stock analysis
  • Offers live news, alerts, streaming quotes, etc.
SAMCO Star

It is a back-office website. User can check account statements, analyze the trades, manage the funds, check demat account, and take care of the share holdings.

"Although, SAMCO has been able to provide multiple trading platforms, quality wise there are quite a few compromises that can be observed like, low update frequency cycle, slow speed, and limited features. The bigger concern is, there are minimal updates available on these trading platforms."


Samco Education & Research

SAMCO doesn't provide any advisory services regarding buying and selling of stocks; however, educates people about the financial markets through Knowlege Center, the educational blog that provides an exhaustive repository of basic and intermediate tutorials on trading and investing.


Samco Customer Service

SAMCO is available to its clients through the following communication channels:

  • Email – support@SAMCO.in
  • Phone – (022) 2222 7777 | 6169 9000
  • Web form - https://www.SAMCO.in/support
  • Social Media - Facebook, Twitter & Myspace

Customer service while opening the account looks great but later falls apart. Calling customer service results in long waits and not great responses. SAMCO needs to look at the following aspects very closely:

  • Train its team of customer service executives and make them skillful enough to deal with clients coming with different types of queries
  • Speed up the turnaround time for the resolution provided to the client.

If you wish to open an account with SAMCO, you may do so by doing one of the three activities - filling up an online application, or call SAMCO sales team, or personally visit the SAMCO Mumbai office at Elphinstone road.


Samco Closing Thoughts

SAMCO started well but in the last 6-8 months, there have been a lot of concerns raised by its customer base. These concerns are regarding low performing trading platforms, low quality customer service, hidden charges, and so on. In addition customers have issues related to points like:

  • No monthly plans
  • SAMCO has no branches or offline support
  • eSAMCO account holders must maintain a minimum balance of Rs 1000 and cannot upgrade to CashPlus, StockPlus and IntraPlus.

So, if you want to have a word with the SAMCO executives, you may go ahead but make sure you observe the grey areas that need immediate attention from the broker including their trading platforms, customer service, and transparency.