One of the most common mistakes people make while investing in the stock market is choosing a stockbroker who doesn’t care about their needs.
Customers should be aware of all the possible information about the stockbroker before they actually make investments with them.
Here today we have come up with this detailed Geojit BNP Paribas review which is one of India’s leading full service stockbroking companies.
Introduction to Geojit BNP Paribas Review
Geojit BNP Paribas is one of the biggest stock brokerage houses of India and was established in the year 1987.
The company’s dedication to product innovation, which includes a high level of domain-specific knowledge and state-of-the-art technology, has helped it set many milestones including numerous industry firsts: Geojit BNP Paribas was the first brokerage firm in India to offer an online trading facility (2000), integrated the first Bank Payment Gateway in the country for Internet Trading(2000), became India’s first Depository Participant DP to launch depository transactions through the Internet (2001), launched the first integrated internet trading system in India for Cash and
Derivatives segments (2002), and offered the first full Direct Market Access execution in India (2008).
It is based in Kochi, Kerala and has its presence all across India through its 500 branches. Moreover, it also has a stronghold in Gulf countries.
This full-time broker is known for, providing customized online trading platforms, accurate research ideas, portfolio management services and certified financial advisors to its clients.
The name of this full-time broker has been changed several times from Geojit Securities limited to Geojit financial services limited to finally Geojit BNP Paribas Financial services.
Geojit is registered as a depository participant with NSDL and CDSL and is also a member of NSE as well as BSE.
Why Invest With Geojit?
Here are some reasons why you should invest with GEOJIT BNP Paribas,
- This stockbroking company is listed in NSE and BSE.
- The commodity trading can also be carried out, through the subsidiary of this stock broking company.
- It provides registered depository services.
- A wide network of 500 branches spread across India and on top of that, it also offers women exclusive branches.
- Latest technology trading platform is offered.
Geojit Trading Platforms
Geojit is one of the first few stockbroking companies that provided an online trading facility to its clients. All the trading platform offered by this stockbroker company are based on the latest technology.
The trading platforms are advanced online investment platforms that are known as “SELFIE” ( Self-directed Trading & Investment Platform ).
The detailed information about its various trading platforms is given below:
Geojit Selfie Gold
This is a web-based trading platform and is offered to all the online customers free of cost. The performance and the user experience of this platform is uniform with all the electronic devices like laptop PC, mobile tablet, etc.
The users have to log into this application, using their credentials and start trading directly.
Salient Features
- The dashboard is personalized with widget baskets.
- Integrated security view, with market news, quotes and interactive charts all are displayed in one place.
- Orders can be placed directly through the interactive charts.
- Trading can be done with just one click.
- Location sensing.
- Offers general information that can be helpful to all the users.
- Analysis can be done easily done through 90 market indicators.
Geojit Selfie Platinum
This is a terminal based trading platform, which the customers need to download and install on their laptops or desktops. This platform is useful, particularly for active traders.
Salient Features
- The market watch displays F&O, currency and cash quotes altogether.
- Customized screen layouts according to the individual’s own preference.
- Allows aftermarket hours orders.
- Funds can be transferred very easily to multiple banks.
- Trade confirmation is given instantaneously through a pop-up.
Geojit Selfie Mobile App
This mobile app is an advanced mobile application which offers a rich experience to the users. It has all the features that are crucial for trading.
Salient Features
- Color-coding is used to indicate top gainers and losers.
- Interactive charts are provided in different styles
- Offers multiple market watch list
- Trading can be done in cash and derivative segment
- Fast order facility is provided
- Can be also used in low bandwidth
- A view can be configured.
Customer Care
Geojit provides adequate customer care support to its customer through various channels like:
- Email Customer Support
- Web Form
- Toll-free customer care number
- Customer care portal
- Wide network of online branches
Through its multiple channels of communication, this stock broking company offers good customer support.
The customer care portal is separately set up with the aim to provide support to the customer base. The customers can log in their issues; a quick turn around support is given. And then providing personalized solution solves the customer issues.
In addition to this customers can also communicate with customer care executive through emails, toll-free customer care number or also by visiting the offline branches.
Research
The research and recommendations are regularly provided to the customers through SMS, emails and are also integrated within the trading platform. Depending on the trading segment, the research can be differentiated into multiple facets, which are as follows:
Equity
The following information is given
- Market index movements through the daily market tracker.
- Information about the company.
- Various corporate announcements
- Analysis of the news
- Market analysis
Currency
The following information is given
- Interactive Charting
- Tips regarding currency segment
Mutual Funds
The following information is given
- New fund offers available
- Tracking of fund performance
- Top performing stocks
- Returns on various categories
The accuracy of the research provided by Geojit BNP Paribas, are not up to the mark as compared to the industry standards, hence customers should do their own research and validate the tips and recommendations given by Geojit.
How To Open An Account
The customers need to open an account with Geojit, to invest or trade with them. The customers can open a Geojit Trading Account and/or Geojit Demat Account.
There are two ways in which the account can be opened with Geojit BNP Paribas, which are as follows,
- Open an account page is provided on the website of Geojit BNP Paribas, fill in your contact details and you will receive a call from the representative of Geojit, within a day.
- Locate a branch of Geojit BNP Paribas near you or can call the branch; a personal visit will be given, to open an account.
Pricing
Account Opening Charges
The account opening charges and the Account maintenance charges are as follows,
| TRANSACTION | CHARGES |
| TRADING ACCOUNT OPENING CHARGES (one time only) | INR 425 |
| TRADING ACCOUNT AMC (annually) | NIl |
| DEMAT ACCOUNT OPENING CHARGES ( one time only) | Nil |
| DEMAT ACCOUNT AMC ( annually) | Nil |
Brokerage Charges
The Geojit BNP Paribas offers quite competitive brokerage plans to its clients. Brokerage charges changes depending on the situation, however, these are the general brokerage charges,
| SEGMENT | BROKERAGE CHARGES |
| EQUITY INTRADAY | 0.03% |
| EQUITY FUTURES | 0.03% |
| EQUITY DELIVERY | 0.03% |
| EQUITY OPTIONS | INR 125 per contract |
| CURRENCY FUTURE | 0.03% |
| CURRENCY OPTIONS | INR 125 per contract |
| COMMODITY OPTIONS | NA |
| COMMODITY FUTURES | NA |
Margins
The customers get following leverage or exposure for options, intraday, delivery, currency, and commodities which is as follows,
| TRADING SEGMENT | MARGIN |
| EQUITY INTRADAY | Upto 10X |
| EQUITY DELIVERY | Upto 7X with 22 % interest annually |
| EQUITY FUTURES | No Leverage |
| EQUITY OPTIONS | No Leverage |
| CURRENCY OPTIONS | No Leverage |
| CURRENCY FUTURE | No Leverage |
| COMMODITY OPTIONS | NA |
| COMMODITY FUTURE | NA |
Transaction Charges
The transaction charges charged by Geojit BNP Paribas are as follows,
| TRADING SEGMENT | TRANSACTION FEE |
| EQUITY INTRADAY | 0.00325% |
| EQUITY DELIVERY | 0.00325% |
| EQUITY OPTIONS | 0.055% |
| EQUITY FUTURES | 0.0021% |
| CURRENCY OPTIONS | 0.0473% |
| CURRENCY FUTURES | 0,0145% |
| COMMODITY | NA |
Consumer Complaint Report
Geojit complaint reports provide details about
- Number of complaints received by stock exchanges for Geojit
- A number of active clients.
| Exchange | Financial Year | Number Of Complaints | Total Complaints |
| NSE | 2011-12 | 412687 | 53 |
| NSE | 2012-13 | 452945 | 46 |
| NSE | 2013-14 | 148176 | 42 |
| NSE | 2014-15 | 158271 | 56 |
| NSE | 2015-16 | 177397 | 32 |
| NSE | 2016-17 | 160317 | 32 |
| NSE | 2017-18 | 183466 | 38 |
| NSE | 2018-19 | 163875 | 32 |
| NSE | 2019-20 | 161313 | 2 |
To access the complete list of complaints registered against brokers with NSE, just click on this link
Conclusion
Geojit BNP Paribas has been providing good quality financial services to its customers for many years. The trading platforms provided by this stockbroker company has advanced technology. The brokerage charges are minimal as compared to the other similar companies in the industry. Moreover, it also provides adequate customer support.
In all, it can be concluded that one can trust the financial services provided by Geojit BNP Paribas.
