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.


Samco Brokerage Charges

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).


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

Account Opening Charges 

  • Trading Account Opening Charges: NIL
  • Demat Account Opening Charges: NIL
  • Commodity Account Opening Charges: NIL
  • Trading & Commodity Account Annual Maintenance Charges (AMC): NIL
  • Demat Account Annual Maintenance Charges (AMC): Rs 400

Samco Platforms & Tools

SAMCO provides terminal based, web-based and mobile app based trading platforms to its users.   

SAMCO Trader - Samco trader is a terminal-based windows trading platform suitable for the heavy traders. Samco trader offers the following features:

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

SAMCO WEB 5 - SAMCO Web 5 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 valid username and password and start trading from anywhere. 

                 

SAMCO Mobile - SAMCO Mobile is a comprehensive 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


"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 Centerthe 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. If SAMCO is looking for any sort of value to provide to its clients through customer service, it 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 turn around time for the resolution provided to the client.

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.

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