Rating Index
Pros
Offers a range of financial instruments including equity, commodities, and currency trading.
Competitive brokerage charges, particularly for equity intraday and futures trading.
Provides access to research reports and stock recommendations, which can assist investors in their trading decisions.
Cons
Not properly regulated, which raises concerns about the safety and reliability of the broker.
Lacks popular trading platforms like MT4 or MT5, which may deter experienced traders.
Average quality of research and advisory services, with notable gaps in comprehensive reports and analysis.
SPFL broker Accounts
SPFL Securities Account Type
SPFL Securities offers various types of accounts for investors, including:
Trading Account: This account allows investors to buy and sell securities in the stock market. SPFL Securities provides a trading account with an annual maintenance charge (AMC) of ₹150.
Demat Account: A demat account holds securities in electronic form. SPFL Securities charges an AMC of ₹360 for the demat account. The account opening fee is free, and a minimum margin of ₹7,000 is required.
Margin Account: This account allows investors to trade with leverage, enabling them to borrow funds to increase their trading exposure. SPFL Securities provides leverage of up to 6x for intraday trading and up to 2x for equity delivery.
Visit the Official Website: Go to the SPFL Securities website and locate the "Open Account" button.
Fill in Personal Details: Enter your contact details, including name, email address, and phone number.
KYC Documentation: An executive from SPFL Securities will contact you to assist with the KYC (Know Your Customer) process. You will need to provide:
- Aadhaar Number
- PAN Number
- Date of Birth
- Bank Account Details (Account Number and IFSC Code)
- Upload Documents: Upload scanned copies of required documents, including:
- Aadhaar Card
- PAN Card
- Passport-sized Photograph
- Canceled Cheque
Verification: After submitting the documents, a verification call will be made by the representative from SPFL Securities.
Account Activation: Once verified, you will receive a congratulatory email containing your login credentials, and your trading/demat account will be operational.
SPFL Securities Broker Account Opening Process
Opening an account with SPFL Securities is a straightforward process that can be completed online. Here are the steps:
This process ensures that you can start trading with SPFL Securities efficiently and securely.
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