Anand Rathi is another leading name when we talk about stock brokers in India. It was established in 1994 and is a full-service broker. It is a financial service firm which is based out of Mumbai and offers a variety of products & services to retail investors, corporates, HNIs, and institutions.
They have a presence in India as well as abroad, including Dubai and Bangkok. It has around 1200 branches and franchisees across India along with 5,00,000+ happy customers. Anand Rathi is a member of NSE, BSE, MCX, NCDEX, CDSL and NSDL. They are well recognised for their free advising and research services, which are available to all registered consumers.
Products & Services offered
Here is the list of trading services by Anand Rathi:
- Equity
- Mutual Funds
- Derivatives
- Commodity
- Currency
- IPO
- Insurance
- Corporate Fixed Deposits
- Bonds and Portfolio Management Services
- Margin Trading Facility
- Real Estate
- Forex Advisory and Portfolio Restructure
Customer Ratings of Anand Rathi
| Criteria | Ratings |
|---|---|
| Research & Advisory | 7.50 / 10 |
| Brokerage Charges & Fees | 7.10 / 10 |
| Products & Services | 6.50 / 10 |
| Trading Platform | 6.70 / 10 |
| Broking Experience | 7.10 / 10 |
| Overall Rating | 7.20 / 10 |
| Customer Rating (in stars) | 3.5 / 5 |
Key Strengths of Anand Rathi
- It has over 30 years of experience in trading and investment services.
- Does not charge a fee for call and trade or advisory services.
- It has a specialised research team to provide customers with reliable and timely market insights.
- They also help you in restructuring your portfolio by evaluating your holdings. A comprehensive analysis is performed by experts.
- Have a strong and robust in-house research team.
- They also provide you with educational blogs like market news, product updates and research advisory.
- Good customer support team where you can clear all your queries through toll-free numbers, chat support or email support.
Anand Rathi Account Opening Process
Offline Account Opening Process
Anand Rathi has many offices and branches in India, so you can find a nearby one in your neighbourhood. You can simply visit them and they will organise a personal visit for you to open an account. They will walk you through the full procedure and open your account within a few days of receiving your documents.
Online Account Opening Process
- Visit their website- https://anandrathi.com/ and click on ‘Open an account’.
- You need to fill up the form by putting your name, mobile, email and city.
- Their company’s representative will call you and they will fix up a meeting.
- They will collect all the forms from you along with supporting documents.
- You can also print the forms from the website and upload them online.
- The documents and form will be reviewed, and your account will be opened if approved.
- It will take a few days for trading accounts to be activated.
You can also open an instant account with them and start trading. They have two options for that- Digi-Locker (Aadhaar) and Digi KYC.
Documents Required
It is advised that you keep scanned copies of the following documents:
- Aadhar Card
- PAN Card
- Bank proof (Cancelled cheque/Passbook/Bank account statement)
- Cancelled cheque
- Passport-sized photo
Anand Rathi Trading Platforms/Apps
| S.No | Platforms/Apps | Platform Type |
|---|---|---|
| 1. | Trade Mobi | App-based |
| 2. | Trade X’Pro | Desktop-based Trading Platform |
| 3. | Trade X’Press+ | Web-based Trading Platform |
| 4. | Trade X’Pro+ | Desktop-based software |
| 5. | Anand Rathi Online MF | App-based |
| 6. | Trade Lite | Web-based application |
Trade Mobi:
It is a mobile trading application by Anand Rathi, which is available on both iOS and Android devices. It is a steady and robust app to provide a seamless transaction of trade execution. You get a dashboard that provides an extensive analysis of the market and trading. Some of the other top features are easy access to scripts, watchlists, etc., real-time quotes, past & present data analytics, Snap Quote, real-time charts, 2FA login for security, transfer fund from multiple banks and offer research recommendations.
App Store rating: 3.00/5
Google Play Store rating: 3.50/5
Trade X’Pro:
Trade X’Pro is created for active traders who want a swifter trading experience. It is desktop software with customised features that are exe-based. Some of the top features include customized watchlists, Backtest trading techniques with extensive market history, create your own option strategies by utilising query methods on market outlook. You also get a fully customizable display, EOD charting, dynamic charting, and much more.
Trade X’Press+:
It is a web-based trading platform to offer a terminal-like experience. The platform is full of different features and some of them are real-time market data, advanced charting tools, a heat map to analyze the top gainers and losers from your portfolio, easy navigation, a seamless user interface, instant loading, and customization of widget screen.
Trade X’Pro+:
It is a cutting-edge desktop platform that offers a variety of investment services, innovative trading tools and trading advice to make your trading experience smoother. Trading tools include technical screeners and free indicators, a mutual fund platform, a Nest starter pack, Plus Trading Plugin, and Sim Trade.
Anand Rathi Online MF:
It is a smart mutual fund app to transact in mutual funds, track them and manage them easily. Some of the top features of this app are easy online transactions, real-time tracking & monitor, and there is no additional KYC is required for clients who are already KYC compliant. You can get an option of lumpsum, SIP, SWP, STP and MF basket. You get an easy to your portfolio within minutes. This mutual fund app is available on iOS and Android devices.
App Store rating: 3.00/5
Google Play Store rating: 3.60/5
Trade Lite:
It is a web-based application which allows you to trade in various segments like equities, commodities, and currency and also invest in IPOs. It even works with low internet connectivity. You get quotes as and when needed, with little bandwidth utilisation. You can create multiple watchlists and use Quick order entry and Market Watch to place your order. Also get your complete transaction reports as well as in-depth research reports. You can also set price alerts which will be notified through mobile or email.
Brokerage Charges and Plans
| Segments | Brokerage Charges |
|---|---|
| Equity Delivery | 0.30% |
| Equity Intraday | 0.03% |
| Equity Futures | 0.03% |
| Equity Options | Rs. 50 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | Rs. 250 per lot |
| Currency Futures | 0.03% |
| Currency Options | Rs. 25 per lot |
Account Opening Charges
- Demat Account Opening Charges- Rs. 0
- Trading Account Opening Charges- Rs. 0
- Demat Account Annual Maintenance (AMC)- Rs. 450 (Free for 1st year)
- Trading Annual Maintenance Charges- Rs. 0
In addition to the brokerage fee, the following costs are also levied:
- Turnover/Transaction Charges
- Security Transaction Tax (STT)
- SEBI Fees
- Stamp Duty
- GST
Advantages & Disadvantages of Anand Rathi
Advantages
- You get advanced trading platforms with user-friendly features.
- It provides a completely paperless, smooth account opening process.
- You also have a facility of loan against shares and a margin trading facility.
- They do not charge any charges for opening an account.
- They offer multiple products & services as per your needs and choices.
- You can also earn by becoming an authorized person with them.
- A personalised advising service is offered to the investor based on his portfolio.
- Anand Rathi also offers NRI account from which you can invest in multiple products and segments.
Disadvantages
- Comparatively high brokerage costs in all segments.
- They do not offer a 3-in-1 account for trading.
Anand Rathi Margin Exposure
Here are the margins provided for different segments:
| Segment | Margins |
|---|---|
| Intraday | Upto 10x |
| Equity Delivery | Upto 3x |
| Equity Futures | Upto 2x |
| Equity Options | Upto 3x |
| Currency Futures | Upto 2x |
| Currency Options | Upto 5x |
| Commodity Futures | Upto 2x |
| Commodity Options | Upto 2x |
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Final Thoughts
In the end, we can conclude that Anand Rathi is a decent full-service broker who offers numerous investments and trading options to Indian residents as well as NRIs. They have a huge offline presence which is a good part. They are known for their research recommendations for free, which is a bonus. However, there are various fuzzy areas, such as trading platform performance, high brokerage charges, and extra charges on a few more services. So, keep this in mind before selecting this stock broker.