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Choice Broking Stock Trading, Demat, Brokerage and Reviews 2023


7.49% 272,782 Clients

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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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  Special Offer - Free Equity Delivery and Mutual Funds

  • Brokerage-free equity delivery trades.
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  • Pay ₹20 per trade for Intraday & F&O.
  • The best trading platform in India.

Open Instant Demat Account Read Reviews

Choice Broking Charges 2023

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.

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Special Offer - Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.


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.

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

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 Margin Exposure

Choice Broking margin for intraday trading is up to 20% of trade value (max 5x leverage) 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.

SegmentMarginLeverage
Equity Delivery100% of trade value1x
Equity IntradayUp to 20% of trade value5x
F&O (Equity, Currency and Commodities)100% of NRML margin (Span + Exposure)1x

Choice Broking Ratings

Overall Rating Rated 3.1 stars 3.1/5
Fees Rated 3.9 stars 3.9/5
Brokerage Rated 3.3 stars 3.3/5
Usability Rated 3.4 stars 3.4/5
Customer Service Rated 3.1 stars 3.1/5
Research Capabilities Rated 3.3 stars 3.3/5

Based on 14 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 2022-23 270,121 71 0.03%
BSE 2022-23 23,480 2 0.01%
NSE 2021-22 253,785 57 0.02%
BSE 2021-22 20,738 9 0.04%
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%

* 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.

     

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35 Comments

35. Amey   I Like It. |Report Abuse|  Link|Jan 15, 2023 5:18:28 AMReply
Lack of trading skills that experience with choice broking. I had working with the referal code CTV.
I had worked with Team leader Pradeep & relationship manager Deep Pandey. They made a huge loses.
Deep Pandey has no concerned about my money, he put it in the very risky way. Without any stop loss, & even do not track it. I loss my 90 percent of the capital in single trade. He doesnt care about the customer money.
After the loss there voice & tonning Changed. Pradeep says that there Is no need to call again here. This is very rude.

My experience was bad . I regret to work with them.
34. amar habib   I Like It. |Report Abuse|  Link|Jan 13, 2023 7:02:45 PMReply
Worst company to trust and invest valuable money. They will try to trap you in their scheme. Specially don't trust the excecutives specially chanchal ahirwar .first they won't tell the charges and later they will deduct all money .please don't trust this company and fraudster staffs.
33. Sachin kedari   I Like It. |Report Abuse|  Link|Jan 13, 2023 6:02:01 AMReply
Heavy brokerage..Not suitable for retailer's.



Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Below Average
Website Usability - Below Average
Research Capabilities - Below Average
Customer Service - Below Average
Overall Experience - Very Poor
32. prakher kumar   I Like It. |Report Abuse|  Link|Nov 27, 2021 11:56:11 AMReply
ITS VERY GREAT EXPERIENCE
THERE HELPS AND SUPPORT ARE AWSOME

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Excellent
Customer Service - Excellent
Overall Experience - Excellent
32.1. Madhukar Bhandari   I Like It. |Report Abuse|  Link|Dec 8, 2022 5:03:04 PM
Only lucky guy against all the odds!
31. Ravi kumar   I Like It. |Report Abuse|  Link|Dec 7, 2022 9:46:57 PMReply
Choice brokrage service not good.& Call or traget not hit.Totaly loss all ammount.
30. Madhukar Bhandari   I Like It. |Report Abuse|  Link|Nov 14, 2022 8:49:49 PMReply
Choice broking is a scam. They charge huge brokerage and swindle your money. please keep away from them.
30.1. bidhan mukherjee   I Like It. |Report Abuse|  Link|Nov 26, 2022 2:15:35 PM
Yes you are right.. Choice Broking is looting money for 10 lot index option buying & selling they charged me 1400/-
Apart from that fund withdrawal takes longer than usual
29. Somdeep Sarkar   I Like It. |Report Abuse|  Link|Nov 11, 2022 12:27:33 AMReply
Kindly dnt take service from choice broking firm i have suffered today i had invested capital of 80000 even had profit of 40000 but end of the as confirmed 52000 was brokerage changes which looks strange.

will request you dnt take service from them otherwise your capital become abolished.

if you guys want proof will share u screen short for your reference.
28. sanjay kumar   I Like It. |Report Abuse|  Link|Oct 19, 2022 6:18:04 PMReply
Say big Noooo

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
27. Pallavi   I Like It. |Report Abuse|  Link|Sep 20, 2022 11:57:58 AMReply
They are completely fraud guys please beware of them they will give you huge loSs
26. Siya Ram   I Like It. |Report Abuse|  Link|Sep 8, 2022 11:22:54 AMReply
Choice broking team is biggest fraud, only looting innocent customers. Mera 1.25 lakh loot liya ek hi din me, pooja Or kaveri naam ki madam thi, mithi mithi baaten karke customers ko jaal me phasanti hai, or brokerage me hi loot leti hain. Expiry ke din Bank nifty me 1000-1000 points door ke big lots buy karti hain, jo zero hone hi hain, matlab mera loss the sirf 4000/- or brokerage 110000/-

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
25. Akas   I Like It. |Report Abuse|  Link|Sep 7, 2022 7:27:57 PMReply
they said invest will recover it this time very confidently but same all loss so stop trading wid them.

I request you to don’t mis guide to customer as ur team are not expert they are making all losses

They are just making loss

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Below Average
Website Usability - Very Poor
Research Capabilities - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
24. Sanjay kumay   I Like It. |Report Abuse|  Link|Jul 20, 2022 10:41:23 AMReply
The choice broker misguided me and lost my money within 2 days. Here your profits will be smaller and losses will be much bigger. These guys are only here to earn brokerages and not bothered about client's Capital. She asked me you had both lots buy so that broker charges high deduct.
My request all new open demat account holder please aware this scam. Choice broking totally scam demat holder capital and all capital losses with in week.


Relationship Manager Name : Muskan
Branch Code : ION
Branch Name Madhya Pradesh
23. Pradip kumar Mahala   I Like It. |Report Abuse|  Link|Jul 16, 2022 2:31:17 PMReply
I never liked it's brokering charge

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
22. Siya Ram   I Like It. |Report Abuse|  Link|Jul 15, 2022 2:59:14 PMReply
CHOICE broking only lootna jante hai, or kuchh nahi
21. DONT TRUST YOU CAN LOST MONEY   I Like It. |Report Abuse|  Link|Jun 15, 2022 5:52:16 PMReply
Hello Chocers..
CHOICE BROKING Main intension is to loot your money by giving F&O calls,
for Example: USDINR 78.25 CE 17 Jun 2022 Expiry call given and forced me to BUY 170 lots (Around RS 10500/-) immediately at MKT rate and after bought Immediately forcing me to SELL all lots by stating it will fall too fast it's faction of minutes in 4-5 minutes, But i have taken time and realize that behind this they are looting me by Brokerage charges like Rs-30/-Per Lot at both side around RS-10200/- 100% of my principal amount..

Don't trust that girl: KOMAL
21.1. Siya Ram   I Like It. |Report Abuse|  Link|Jul 15, 2022 2:56:53 PM
I have also lost 1.25 lakh in 4 days
20. Siya Ram   I Like It. |Report Abuse|  Link|Jul 15, 2022 2:54:58 PMReply
Very high brokerage, and team also fraud, jahan aapka 4000 ka profit hoga wahi ho sakta hai aapko 1.50 lakh brokerage dena pad jaye, mere sath ye hua hai, pura 1.20 lakh ek hi din me saaf

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
19. Sharad Kumar Mehrotra   I Like It. |Report Abuse|  Link|Jun 24, 2022 9:05:21 AMReply
The broker misguided me and lost my money within 4 Trading days. Here your profits will be smaller and losses will be much bigger. These guys are only here to earn brokerages and not bothered about client's Capital. They wants you to trade with big capital so that many lots can be traded and their brokerage can be generated. Very sorry to say to choice equity in very disappointed by the behavior of the broker. She misguided me totally.

Relationship Manager Name : Divya
Branch Code : SOU
Branch Name : TEENA BANSIYA

Demat Opened on : 15th June 2022
Demat Activated on : 17th June 2022
Performance : Lost my money by 23rd June 2022
Capital Invested : 70000
Brokerage Given : 10060
Losses Booked : 61459
Profit Days: 0 (100% Days made losses)
Loss Days : 100% (5 Days)

I want to advice everyone Please don't open Demat with Choice and save your capital.

Ratings:

Brokerage - Very Poor and Much Higher (Rs.50 per lots i.e. Rs.100 per lots Buy + Sell)
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Very Poor
Advisory Services : Worst
18. preethi Valusa   I Like It. |Report Abuse|  Link|Apr 7, 2022 5:31:51 PMReply
Why did you provide a mail service when you really don't care or bother yourself to respond. After a long gap i came back a week before to trade with this platform. I mailed them regarding queries I have 4days Or more passed, they lack care for their customers. Really disgusting and disappointing.

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Average
Website Usability - Above Average
Research Capabilities - Average
Customer Service - Very Poor
Overall Experience - Very Poor
17. Raju   I Like It. |Report Abuse|  Link|Jan 20, 2022 12:19:49 AMReply
Worst advisory cheap people

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
16. Ganapathi   I Like It. |Report Abuse|  Link|Jan 12, 2022 6:19:16 AMReply
software mistake on one time choice side. I was compliant, they are agree,and refund my money.good

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Excellent
Website Usability - Average
Research Capabilities - Above Average
Customer Service - Average
Overall Experience - Above Average

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