Geojit Review 2021

Geojit Review 2020 – This is one of the major stockbrokers operating in India. Geojit is situated in Kochi, Kerala and it’s main operating at Gulf. Here in this Geojit Review, we’ll discuss its features, apps, trading platforms & its charges.

Geojit Review

From a close observation and wide view, Geojit BNP Paribas is a cash equity and  finances brokers market with a very extensive in the issues concerning the management services and distribution of financial products to its consumers. 

Geojit  is a does much with online trading providing a very strong network of 500 branches of NSE and BSE stock exchange entities.

Geojit’s Trading Platforms

They offer a very advanced online investment known to as SELFIE  which stands for (self-directed Trading and investment platform). Geojits offer as a prominent trading platform, they offer a virtual dealer terminal known as (SELF Platinum), a well established Web and a well programmed mobile trading application. 

Geojit BNP Paribas, basically operates under two basic trading plans through which they offer the stock trading services to its customers. These include ;

1. SELFIE Gold

This is a browser based trading application for the  Geojit customers. It’s services are offered on free basis to all  customers with a uniform experience across so many compatible devices. It’s key features includes a consolidated security view which has quotes, charts concerning trades, news on updated feature and other aspects influencing the trade, recommendations, MBP, chain and making window arrangement, that is putting them together. 

2. SELFIE Platinum

This is a virtual dealer program. It can be installed from EXE program with ease. It’s only designed for those active traders. It’s key features are; it’s more flexible if users choose to change the screen layout, there is very fast trade execution, and there is tick by Tick update of the index chart every time they happen

Geojit Brokerage Charges 2020

Trading Charges

  • Trading Account Opening Charges (One Time) – ₹Nil
  • Trading Annual maintenance charges (AMC – ₹0
  • Demat Account Opening Charges (One Time) – ₹100 (for Agreement Stamp Paper)
  • Demat Account Annual Maintenance Charges (AMC) – ₹400

Geojit Brokerage Charges

  • Delivery-based Trading – 0.30%
  • Intra-day Trading – 0.03%
  • Futures – 0.03%
  • Options Intraday – ₹125 charges per contract
  • Options carry forward positions – ₹150  charges per contract

Geojit Other Brokerage Charges

Minimum Brokerage Geojit: Geojit charges ₹20 which is charged per Contract or 1 paisa per share provided it is the highest, subjected to a measure of a maximum of 2.5% per share.

Geojit Exposure Margin

This is a representation of a review on Geojits leverage for intraday, delivery, options, currency and commodities

  • Equity Delivery – Up to 7x  accompanied  by 22% interest per year
  • Equity Intraday – Up to 10x
  • Equity Future – No additional leverage
  • Equity Options – No additional leverage
  • Currency Future – No additional leverage
  • Currency Options – No additional leverage
  • Commodity Future – NA
  • Commodity Options – NA

How to Open Geojit Trading and Demat Account?

In case you are interested with opening an account with equity, consider applying in IPO’s or u can choose to buy mutual funds the proceed to open a Geojit Demat account.

The Demat account opening forms can be found online  on their website. 

  1. Fill the documents and input your signature  provided in the client registration kit which includes kRA-KYC form. 
  2. Draft a cheque of Rs. 472 [Round off Rs. 472/-]  [Trading Rs. 250/-+DP Advance AMC 150+18%-GST] which should be in favour  of ‘Geojit Financial Services Limited directed towards the account opening charges treasury. 
  3. After that, the company is in position to avail a kit tool which will  contain AL the log in credentials including the password, PIN and customers care number. All these will be inside a sealed envelope. 
  4. Activation is considered to be through only when the documents provided are approved to be true. There is an email which is normally send to you via the registered email ID, with a letter of welcome and it contains your user ID and password. 
  5. Once you receive your user ID, you can log in.  The first thing to consider doing after you log  to the Geojit system immediately change your password for security purposes. 

Geojit Pros and Cons

Geojit Advantages

  • With Geojit BPN Paribas, it is only the terminal that is in position to deliver real time market information transferring it  from the company system to the mobile phones which are GPRS  enabled, which are owned by the campany’s clients. The financial internet platform – mobile edition, primarily known as FLIP-ME, is used for deliverance of key information. This program has a number of great features which are designed to facilitate client empowerment programs,providing advisory information to the client before they are allowed to make calls requesting for orders. 
  • Through the different campany’s branches, or calls made direct to the customer care via phone, investors are in position to make orders. 
  • The company offers some of the marketable backs which include HDFC Bank, citibank and federal bank, Punjab National Bank, Union Bank of India, Bank of India and IDBI Bank. 
  • This facility allows online order placement, which seem to have similarities with post sessions of NSE and BSE. 
  • Making daily market calls, inquiries about research reports, the issue of Demat holdings, incase there Is need to change the platform, and many more. All this can be accessed through a simple messaging mobile app. 

Geojit Disadvantages

  • Investors are forced to use banking services from other banks because Geojit do not offer the 3 in  1 account option. 
  • The brokerage changes for Geojit are very high compared to the brokerage charges by other brokers. 
  • They charge a minimum brokerage of  ₹20. This charges are as per Contract or 1 paisa per share provided it is the  highest. 

Geojit Review – Conclusion

Geojit is very approachable and offers customer friendly services. The Company charges are reasonable compared to other existing full-time broking companies. There are no hidden costs of 0.30% for equity delivery and 0.03% for intraday. This article has highlighted some of the advantages and disadvantages basing its arguments on comparison with other brokers existing in India. This approach is customer-based in order to able them to have relevant references before deciding on the brokerage company to trade with. 

Zelman Yakubov

About the author

Hi, I am Zelman Yakubov, an expert stock market trader. My goal is to educate and mentor people that wants to learn the financial trading markets. In my free time I love to go out for various different entertainment and try new restaurants.