Angel Broking
Pros and Cons
Pros
- Regulated by the Securities and Exchange Board of India (SEBI)
- Diverse trading instruments including Forex, commodities, indices, stocks, and cryptocurrencies
- User-friendly trading platforms: mobile app, web version, and desktop application
- 24/7 customer support available through multiple channels
- Proprietary investment engine, ARQ, offering personalized investment recommendations
Cons
- Recent regulatory violations leading to a fine from SEBI
- Mixed customer reviews regarding service quality
- Limited educational resources for traders
- Slow customer support response times
- Complex fee structure with potential hidden costs
Basic Information
User Reviews
Angel Broking Overview
Angel Broking, now known as Angel One Limited, is a prominent brokerage firm based in India that has been operational for over 5-10 years. Founded in 1996, the company has established itself as a leading full-service retail broking house in the country, catering to a vast client base. Angel Broking is a member of several major stock exchanges, including the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), and is registered as a depository participant with Central Depository Services (India) Limited (CDSL). This regulatory framework underscores its commitment to providing secure and reliable trading services in the Indian market.
Angel Broking offers a comprehensive range of trading services, including equity, commodities, and currency broking, along with margin trading facilities and mutual fund distribution. The broker is recognized for its user-friendly trading platforms, which are accessible via mobile apps, web applications, and desktop interfaces. Additionally, Angel Broking supports its clients with robust customer service available 24/7, ensuring responsiveness across various channels. The company’s innovative approach is highlighted by its proprietary investment engine, ARQ, which provides personalized investment recommendations. This blend of technology and service positions Angel Broking as a competitive choice for traders seeking a versatile and supportive trading environment.
Is Angel Broking Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Securities and Exchange Board of India (SEBI) | India | Investor Protection Fund (IPF) |
Is Angel Broking Regulated and How Are Client Funds Protected?
Angel Broking, now known as Angel One Limited, is a regulated brokerage firm registered with the Securities and Exchange Board of India (SEBI). This regulatory status ensures that the broker adheres to strict compliance and operational guidelines, thereby enhancing its legitimacy and trustworthiness in the market. Client funds are further protected by the Investor Protection Fund (IPF), which can compensate investors up to ₹25 lakh in case of broker defaults. This framework underscores the safety measures in place for investors, providing an added layer of security against potential financial mismanagement. Furthermore, Angel Broking employs robust safety protocols, including data encryption and two-factor authentication, to safeguard client information and financial transactions. Overall, the combination of regulatory oversight and protective measures makes Angel Broking a safe option for traders in the Indian market.
Trading Products and Services
What Trading Instruments Does Angel Broking Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | USD/INR, EUR/INR, GBP/INR, JPY/INR | Varies |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
Angel Broking, now known as Angel One Limited, offers a diverse array of trading instruments that cater to the varied needs of different traders. With a comprehensive selection across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies, traders can develop flexible strategies and diversify their portfolios effectively. This range of products is particularly beneficial for both beginners and seasoned professionals, allowing them to access various markets and enhance their investment opportunities. The availability of multiple asset types supports strategic flexibility, enabling users to adapt their trading approaches based on market conditions and personal preferences. This commitment to product diversity exemplifies Angel Broking’s aim to provide a supportive trading environment for all types of investors.
Account Types and Trading Conditions
What Account Types and Fees Does Angel Broking Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Demat Account | All investors | Stores securities in electronic format | Can be regular, repatriable, non-repatriable, or BSDA |
| Trading Account | All investors | Enables buying and selling of securities | 2-in-1 account with demat account available |
| Joint Account | Families or groups | Shared ownership of securities | Requires KYC documents for all holders |
| Minor Account | Guardians for minors | For holding securities until the minor turns 18 | Trading is not permitted until the account holder becomes an adult |
Account Opening Process
Opening an account with Angel Broking is a straightforward process. Here are the steps involved: First, visit the Angel Broking website and click on the account opening option. Fill out the required personal, employment, and financial information. Next, submit the necessary identity verification documents, such as an ID and proof of address. Once submitted, the documents will be verified, which usually takes a few days. After verification, you will receive your account details and can start trading. Note that you can upgrade to a professional account later if needed.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | Varies | Competitive spreads for various pairs |
| CFDs (Stocks) | Varies | Varies | Transparent fee structure |
| Cryptocurrencies | Varies | Varies | Fees depend on market conditions |
Other Fees
In addition to trading fees, Angel Broking has several other charges: There may be deposit and withdrawal fees depending on the method used. Inactivity fees may apply if the account remains unused for an extended period. Platform usage fees may also be charged, though many services are offered free of charge. Overnight interest or swap rates may apply for positions held overnight, and currency conversion fees may be incurred for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Angel Broking Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Angel Broking App | iOS, Android | 2FA, symbol lookup, one-click trading, price alerts, technical indicators | Demo accounts, API interface |
| Web Version | Windows, macOS | Encryption, multiple order types, push notifications, economic calendar | Demo accounts |
| Angel SpeedPro (Desktop Application) | Windows | 2FA, market search, advanced charting, multiple order types | API interface |
The Angel Broking App is designed for mobile users, offering secure login and convenient access to trading functionalities. It supports real-time alerts and fast order execution, making it suitable for active traders. The web version provides robust features for desktop users, including comprehensive market analysis and alerts, while the desktop application, Angel SpeedPro, is tailored for advanced users who require in-depth tools for analysis and trading. Overall, Angel Broking ensures secure logins, rapid execution, and efficient search functionalities across its platforms, catering to a diverse range of trader needs.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Net Banking | Instant | No platform fee | Min ₹500, Max ₹10,00,000 | INR |
| UPI | Instant | No platform fee | Min ₹100, Max ₹1,00,000 | INR |
| Debit/Credit Card | 1-3 days | 2% transaction fee | Min ₹1,000, Max ₹50,000 | INR |
| E-Wallets | Instant | 1.5% charge | Min ₹200, Max ₹20,000 | INR |
Minimum Deposit
The minimum deposit requirement at Angel Broking is ₹500 for most payment methods, although it can vary depending on the account type or specific promotions. For example, UPI transactions have a lower minimum deposit requirement of ₹100.
How to Withdraw
To withdraw funds from your Angel Broking account, follow these steps:
- Log in to your Angel Broking account.
- Navigate to the ‘Funds’ section and select ‘Withdraw Funds.’
- Choose your preferred withdrawal method and enter the amount.
- Submit your request, and wait for the processing confirmation.
- Check your bank account for the transferred funds.
Customer Support
Angel Broking Customer Support Overview
Support Channels
Angel Broking provides a variety of support channels to assist customers effectively. Clients can reach out via:
- Email: For queries and support, customers can contact support@angelbroking.com.
- Live Chat: Instant assistance is available through the live chat feature on their website.
- Telephone: The toll-free number is 1800 1020, providing direct access to customer service representatives.
- Social Media: Angel Broking maintains an active presence on platforms like Facebook and Twitter, where clients can also seek help.
Service Availability
Angel Broking’s customer support services are available 24/7, ensuring that assistance is accessible at any time. The support team is equipped to handle inquiries in multiple languages, catering to a diverse client base in India.
Additional Resources
To enhance the customer experience, Angel Broking offers various educational resources such as video tutorials, market analysis, and webinars. These resources aim to empower clients with knowledge and insights, enabling them to make informed trading decisions.
Frequently Asked Questions
Angel Broking, now known as Angel One Limited, is regulated by the Securities and Exchange Board of India (SEBI), which ensures adherence to strict compliance and operational guidelines. Client funds are protected by the Investor Protection Fund (IPF), which can compensate investors up to ₹25 lakh in the event of broker defaults. Additionally, the firm employs robust safety protocols, including data encryption and two-factor authentication, to safeguard client information and transactions.
Angel Broking offers several account types, including a Demat Account for storing securities in electronic format, a Trading Account for buying and selling securities, a Joint Account for families or groups, and a Minor Account for guardians managing investments for minors. Each account type caters to different user needs, enabling a broad range of investment strategies.
Angel Broking provides multiple support channels for customer assistance, including email support at support@angelbroking.com, a live chat feature on their website, and a toll-free telephone number (1800 1020) for direct access to customer service representatives. Their support services are available 24/7, ensuring that clients can get help at any time.
There are no fees for opening a trading or demat account with Angel Broking for resident Indians, as the account opening process is free. However, clients should be aware that there may be other charges related to trading activities, such as brokerage fees for different asset classes, and potential deposit and withdrawal fees depending on the chosen payment methods.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.