Choice Broking Stock Trading, Demat, Brokerage and Reviews 2021

11.13% 75,352 Clients

Incorporated in 2010, Choice Equity Broking Pvt. Ltd (commonly known as Choice Broking) is a Mumbai-based full-service stockbroking firm. Choice broking is a subsidiary of a publicly listed financial services firm named 'Choice International Limited' that was formed in 1993.

Choice Broking offers online trading and premium financial services for an entire range of financial products like Equity, Derivatives, Currency, Commodities, Mutual Funds, wealth management, Portfolio management, Insurance, and Loan against share. The company has a depository membership with CDSL and NSDL and is a member of NSE, BSE, MCX, NCDEX, and ICEX. The brokerage charges of Choice Broking are claimed to be one of the lowest in India when compared to other full-service brokers in the industry.

The company also offers Margin Trading services to its customers that allow the clients to purchase shares by funding smaller portion with its funds and use broker funds for the remaining amount. Under MTF services, you can avail up to 4 times of leverage funding and carry forward your delivery trades beyond T+7 days.

Choice Broking also offers NRI trading and investment services. The company has 50+ offices, 500+ employees, 1100+ franchises spread across the country.

The company has recently introduced its brand of mobile and web-based trading applications for stock markets and mutual fund investments. In 2017, the company launched the Mutual Funds web and app called Investica, and in 2018 it launched a stock market mobile trading web and app called Jiffy. The company offers After Market Orders (AMO), Pre-market orders (PMO) along with market order, limit order, stop-loss order, stop loss market order to its customers.

Choice broking has a refer and earn program for its clients that provides them an opportunity to gain a lifetime income by way of sharing a certain percentage of brokerage received from the referrals.

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Choice Broking Charges 2021

Choice Broking offers to open a free online Trading and Demat account with no AMC charges for the first year.

  • Trading and Demat Account Opening Charges: Rs 0 (Free)
  • Demat Account AMC: Rs 200 per year*

*Choice Broking Demat AMC Plans

  1. Annual Plan: Rs 200 Yearly
  2. Lifetime AMC Plan: Rs 1500 (one-time non-refundable fee)
  3. Refundable AMC Plan: Rs 3000 (one-time refundable deposit). The amount gets refunded at the time of demat account closure.

Choice Broking Brokerage Charges

The company charges a percentage-basis brokerage for Intraday, Delivery, and Futures, and for the Options, the brokerage is calculated based on a flat fee.

Segment Brokerage Charges
Equity Delivery 0.20%
Equity Intra-day 0.02%
Equity Futures 0.02%
Equity Options Rs 25 per lot
Currency Futures 0.02%
Currency Options Rs 20 per lot
Commodity Futures 0.02%
Commodity Options Rs 50 per lot

Visit Choice Broking Brokerage Charges Review for more detail.

Choice Broking Online Account Opening

Choice broking offers online as well as offline modes of account opening to its customers. The Demat account can be opened online by visiting the company homepage and clicking on 'Open free account' option on the topmost right-hand corner and submitting the required details and documents. The trading account can be opened online through Jiffy using the app or via the website.

To open an account offline, you can download the account opening form from the downloads option available in the footer of the company website or you can walk-in at any of Choice Broking Branch offices to get your account opened.

Choice Broking Trading Software (Choice Broking Trading Platforms)

Choice Broking offers two proprietory trading and investment platforms, Jiffy and Investica , to its clients for seamless transactions in stock markets and mutual funds investments respectively.

  1. Jiffy (Trading App)

    Jiffy is an online trading platform aimed to make trading easy, simple, and fast. It is offered to Choice Broking customers free of cost for trading in Equity, Derivatives, Currency, and Commodity. You can also apply in IPO through Jiffy. Jiffy trading platform is available on Android, iOS, and web. Jiffy is built using cutting-edge technology and has a host of features like real time market data, insightful research reports, clean and simple user interface, price alerts, secure trading, etc.

    Choice Broking Mobile App (Jiffy)

  2. Investica (Mutual Funds App)

    Investica is an online platform for mutual fund investment and tracking. Investica allows customers to open their accounts in less than 5 minutes with a 100% paperless sign-up process. Investica is available on tablet, web, and smartphone supporting Android and iOS. Investica aims to make your mutual fund investments easy, simple, and hassle-free with its features like mutual fund tracker for yourself and your family, fund comparison, various goal-based baskets to suit risk profiles of each customer types, etc.

    Choice Broking Mutual Fund App (Investica) Demo 1


Visit Choice Broking Trading Software Review for more detail.

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Choice Broking Pros and Cons

Choice Broking Pros (Advantages)

The following are the advantages of Choice Broking. You must read Choice Broking advantages and disadvantages before opening an account with Choice Broking. Choice Broking pros and cons help you find if it suits your investment needs.

The following are the pros (advantages) of Choice Broking.

  • Offers a wide range of investment products.
  • Offers simple Trading Platforms to its customers.
  • Offers multiple AMC plan options with lifetime AMC and refundable AMC options.
  • Proactive and Prompt Customer Service.
  • Instant and paperless online Demat Account Opening.
  • Provides Margin Trading Facility (MTF) Services.
  • As per company's website, there research calls have 78% success ratio.
  • Zero Account opening fee.
  • Offers online IPO application services.
  • Free Call and Trade Facility.
  • Dedicated Relationship Manager.
  • Offers advanced order types like Bracket Order (BO), Cover order (CO), Good Till Cancelled (GTC).

Choice Broking Cons (Disadvantages)

The following are the cons of Choice Broking. Check the list of Choice Broking drawbacks.

  • Does not offer 3-in-1 account services.
  • No Flexi brokerage plans.
  • Margin calculator not available.
  • In-house Trading terminal not available.

Choice Broking Enquiry Form

Choice Broking Margin Exposure

Choice Broking margin for intraday trading is up to 6x based on the stock. Choice Broking F&O intraday trading margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. There is no additional margin offered for Choice Broking F&O carry forward positions and equity delivery trades.

Equity Delivery1x (no margin)
Equity IntradayUp to 6x (based on the stock)
Equity Futures & OptionsIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)
Currency Futures & OptionsIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)
Commodity FuturesIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)

Note: As per the new margin policy by SEBI, the margin for trading will be decided by the exchange from Sept 01, 2021. Brokers cannot offer 'additional margin' like 20x in any segment at BSE, NSE, and MCX. All full-service and discount brokers will provide the same margin exposure to customers.

Choice Broking Ratings

Overall Rating Rated 4.1 stars 4.1/5
Fees Rated 4.4 stars 4.4/5
Brokerage Rated 4.1 stars 4.1/5
Usability Rated 4.4 stars 4.4/5
Customer Service Rated 4.0 stars 4.0/5
Research Capabilities Rated 4.2 stars 4.2/5

Based on 7 Votes by Choice Broking Customers

Do you trade with Choice Broking? Rate Choice Broking

Choice Broking Complaint

The number of Choice Broking customer complaint received by the exchanges. The Choice Broking consumer complaint report helps understanding the Choice Equity Broking Private Limited quality and relibility of service.

Exchange Financial Year Number of Clients* Complaints** %
NSE 2021-22 75,352 13 0.02%
NSE 2020-21 67,804 36 0.05%
NSE 2019-20 32,854 29 0.09%
BSE 2019-20 13,492 2 0.01%
NSE 2018-19 22,350 19 0.09%
BSE 2018-19 5,157 1 0.02%
NSE 2017-18 14,882 15 0.1%
BSE 2017-18 7,594 2 0.03%
NSE 2016-17 6,520 15 0.23%
BSE 2016-17 3,105 2 0.06%

* The number of active customers reported by the broker.

** The total number of complaints received against the broker at the given exchange.

Visit Choice Broking Complaints at BSE, NSE and MCX for detail report.

Frequently Asked Questions

  1. 1. How to open Choice Broking account online?

    Choice Broking offers free online account opening. To open a trading and Demat account online, you can sign up from the company website or mobile app. 

    Steps to open an account online

    1. Sign-up and register through the company website or mobile app Jiffy.
    2. Fill in the basic details viz. name, mobile no. and City.
    3. Upload the relevant documents.
    4. Complete the in-person verification (IPV).
    5. Courier the signed POA to the broker office.
    6. The documents submitted get verified by the broker.
    7. The account gets activated on completion of the verification of documents. 

    You would receive a mail from the company once the account is opened with the login credentials. 

    Read Choice Broking account opening for more details


  2. 2. How is Choice Broking?

    Choice Broking is part of a renowned Choice group and a subsidiary of leading financial firm Choice International limited. Choice Broking is SEBI registered and a member of NSE, BSE, MCX, and NCDEX providing trading and advisory services to its customers. It has a depository participant with CDSL and NSDL

    The company offers a wide range of research reports with free research, trading tips, and recommendations. It also provides safe and secured trading platforms and mobile apps Jiffy and Investica for stock trading and mutual funds investments. 

    Overall, Choice Broking is a good broker with no proprietary trading business and a low client to complaint ratio

    Read How safe is Choice Broking for more details.


  3. 3. How does Choice Broking work?

    Choice Broking is a Mumbai based full-service broker providing a wide range of services viz. Equity trading, Derivatives trading, Commodity trading, Currency trading, Mutual Fund investments, Margin Trading Facility, Loan against shares, Portfolio management services, Wealth Management, and Insurance. The company provides its services either online or offline through its branches spread across the country. Choice Broking also offers free research tips and recommendations with a wide range of research-based reports. 

    To avail of the various services offered by the company, you need to open a trading and Demat account with the company. Choice Broking provides a free account opening with a standard brokerage plan.

    With a trading and Demat account, you also need to have a savings account with any bank in India and a separate account for mutual fund investments. The Demat account gets linked to your trading and Mutual fund account. 

    Once all the accounts are opened, you can trade with Choice Broking through any of the below trading platforms: 

    • Choice Broking Jiffy Website
    • Choice Broking Jiffy Mobile Trading App for Android and iOS.
    • Choice Broking Investica website (for mutual fund investments)
    • Choice Broking Investica mobile app (for mutual fund investments)
    • ODIN terminal
    • Call & Trade
    • Visiting Choice Broking branch office. 

    Choice Broking has a percentage-based brokerage model for Equity and futures trades and per lot-based model for Options trades. You are required to pay brokerage, Demat charges for sell transaction, other regulatory charges viz. STT, GST, exchange transaction charges, Stamp duty for every transaction done with Choice Broking.


  4. 4. What is Choice Broking?

    Choice Broking is a stockbroking firm providing trading and advisory services to its clients. Choice Broking is a part of the renowned Choice group and a subsidiary of a publicly listed company, Choice International Limited

    Choice Broking is a full-service broker providing a wide range of services viz. trading in Equity, Derivatives, Commodity, and Currency, Mutual fund investment, Portfolio Management, and Wealth management services, Insurance, Margin Trading Facility and Loan against shares.


  5. 5. How to transfer funds to Choice Broking?

    You could transfer the funds to Choice Broking using various modes of online transfer viz. UPI, net banking via IMPS/RTGS/NEFT, or by issuing a cheque

    The amount transferred online is generally available the same day within 30 minutes in the Choice Broking trading account for investing. Choice Broking does not apply any charges for the online fund transfer except for the UPI gateway or bank charges that may apply. In case of cheque payments, if the cheque bounces, Choice Broking would charge up to Rs 350+ GST

    It is important to note that Choice Broking accepts the funds only from the bank accounts registered with them. The company does not accept funds through any third-party digital wallet. 

    Steps to add funds to Choice Broking account using Jiffy :



  6. 6. How to close the Choice Broking account online?

    The Choice Broking account cannot be closed online. You need to submit the physical account closure form to initiate the closure process. 

    Steps to close the Choice Broking account 

    1. Download the account closure form from the company website.
    2. Fill in the name, DP details, the reason for the closure.
    3. Select the option whether you want to close only the trading account, only the Demat account, or both the accounts.
    4. Submit/Courier the duly filled and sign form to the broker office. 

    Before initiating the closure of the account, ensure to

    1. Clear any outstanding dues.
    2. Clear any open positions.
    3. Transfer the securities to another Demat account.



11. Ranjith  Jul 22, 2021 13:19 I Like It. | Report Abuse Reply

The main moto of the advisers will be looting your money NOT DIRECTLY! they will speak to you very sweetly till the time you open the account, to be honest after opening the account as well but their intention behind that will be completely different. They need clients, for that reason they will use most powerful words like TRUST ME, I AM WITH YOU, DONT WORRY but be cautious don't fall in their trap. I have invested my hard earned money with a perception that I will get extra income out of this but, within 20 days I lost 85% of it. It's not because market is not performing well its because of their wrong advice for investment (I am mentioning about intraday trading) they have shown me profit on day one, by seeing the result I have invested more money. From that day my bad days begin not even a single day I have seen profit and when I call the customer care to address this issue they gave me a slap on my face stating INVESTMENTS ARE SUBJECT TO MARKET RISKS ". I strongly advice not to choose CHOICE as your Investment adviser
CA Sagar Davda
10. CA Sagar Davda  Jul 16, 2021 11:54 I Like It. | Report Abuse Reply
A Full Service Brokerage you can have trust on. All in all It requires support from Backend and from frontend in stock market which i think can only be available from Full Service Brokerage Firm. Backend support from Choice Broking is excellent as they are not charging for call and trade facility, supportive staff, ledgers and P&L available as and when required. For frontend, Choice Broking has a gem namely Mr. Sumeet Bagadia, Resarch Head and Director, young but having commandable hold on Equity Segment. Its because of him Choice Broking has the success call ratio of almost 80%. He is easily available on any social media platform. And ofcourse, he is available on daily basis on India's No. 1 Business Channel "Zee Business" in Opening Trade and Closing Trade.

I m using services of Choice Broking since 1.5 Years. All in all goog to go.


Brokerage - Above Average
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Excellent
Customer Service - Excellent
Overall Experience - Excellent
Biswarup Purkayastha
9. Biswarup Purkayastha  Apr 10, 2021 16:00 I Like It. | Report Abuse Reply
Margin to buy does not increase for the full amount on/after sale of shares.


Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Average
Research Capabilities - Average
Customer Service - Average
Overall Experience - Below Average
8. ankit  Jan 20, 2021 16:18 I Like It. | Report Abuse Reply
best research and best app for trading. i have earned approx 40 % in last 6 month


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Excellent
Customer Service - Excellent
Overall Experience - Excellent
Dashrath oraon
7. Dashrath oraon  Jan 5, 2021 07:20 I Like It. | Report Abuse Reply


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Raja Bhai Ahirwar
6. Raja Bhai Ahirwar  May 14, 2020 22:28 I Like It. | Report Abuse Reply
बहुत ही ख़राब सर्विसेज है.. ब्रोकर रिस्पांस नहीं deta है और. बगैर इनफार्मेशन के ब्रोकर पोजीशन काट देता है.... बहुत ही घटिया सर्विसेज है
Very bad services.. and sub broker not pic my call.


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
5. Kadesh  Mar 20, 2020 17:00 I Like It. | Report Abuse Reply
Choice equity broker is a Worst company.
It doesn't address it's coustoums complaints.
They close the tickets without talking to the concerned person.
Worst service, Worst ownership, Worst accountability.
I'm an existing clients of choice equity broker

4. A  Jan 30, 2020 13:33 I Like It. | Report Abuse Reply
Good rising broker


Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Excellent
Research Capabilities - Excellent
Customer Service - Above Average
Overall Experience - Above Average
3. Umed  Jan 6, 2019 15:12 I Like It. 1 | Report Abuse Reply
Application is average good he


Brokerage - Above Average
Account Maintenance Fees - Excellent
Website Usability - Above Average
Customer Service - Excellent
Overall Experience - Excellent
Umed panchal
2. Umed panchal  Sep 18, 2018 20:26 I Like It. 1 | Report Abuse Reply
Very good my experience for choice equity broking
Jiffy treding app is very good but charting is not properly tools and more indicatornot available in app. Overall ratings is 4.4 I am.


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Above Average
Overall Experience - Excellent
Goldy sen
1. Goldy sen  Jul 5, 2018 01:46 I Like It. | Report Abuse Reply
The broker misguided me and lost my money. He told me from last 6 months that to give him 3 months and he will do something by that he can cover my loss which happened by him. And today when I called him he said I'm leaving the choice and I can't help u, the only thing which I can do for u that I'll meet with you with out branch manager. Even before He leave the company He didn't bother to tell me any status about my portfolio. I asked him so many times for the password but He said He can't provide me that , if I login in choice app than He can't access the app. Very sorry to say to choice equity in very disappointed by the behaviour of the broker. He misguided me totally. He talked so wrongly today....his name is Anjeshnu Saha. I would request to choice please take necessary step which you should do.


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor

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