Set up in 1990, SMC is an expanded financial services company in India providing brokerage services across the asset categories of equities (cash and derivatives), commodities and currency, investment banking, wealth management, distribution, institutions, high net worth individuals and other retail customers. Check this SMC Global Review to know about SMC Brokerage charges, Demat account, Trading platforms, Margins, IPO and offers.
SMC Global has
- 18,00,000+ unique clients
- 3,000+ employees
- Presence in over 500 cities worldwide
- 2,500+ sub-brokers & authorized personnel
- Cumulative AUM under mutual funds of 2,800+ crores
SMC Global has active partnership with BSE, NSE, MCX, NCDEX, and MCX-SX and allows its clients to trade across diverse segment such as:
- Equity
- Derivative Trading
- Currency Trading
- Commodity Trading
- IPO
- Mutual Funds
- Bonds
The broker allows its users trade into various types of commodities viz. agri commodities, bullion, metals, oil, oil seeds & energy products. Even, they can trade into currency futures in the most hassle-free way.
The broker might emerge out as a feasible trading option for beginners. The brokerage is at lower level, it’s a trustable brand, research is detailed and so are the trading platforms. In a nutshell, most of the pre-conditions for a beginner user have been handled fabulously by SMC Global. One thing that is very much important for new traders and investors is its not-so-good customer service. This is where the broker falls flat on the face, for now.
Membership Information
The membership details of SMC Global are given below.
| Entity | Membership ID |
|---|---|
| NSE | INB/ INF/INE 230771431 |
| BSE | INB/INF 011343937 |
| MSEI | INB/INF 260771432 |
| CDSL/NSDL | IN-DP-130-2015 |
| SMC Research Analyst Registration | INH 100001849 |
| SMC Comtrade Ltd | NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 |
| SMC Investments and Advisors Ltd. | PMS INP000003435 |
| SMC Insurance Brokers Pvt. Ltd., IRDAI Regi. No: | DB 272/04 |
| CIN | U67120DL1997PLC188881 |
| Registered Address | 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000 |
Process to Open an account at SMC Global
There are two ways to open an account with SMC Global.
Online Account Opening
For quick account opening, you need to have Aadhar card, PAN card, a cancelled cheque and a webcam. Your Aadhar card must be registered with your existing mobile number. Here are steps to online account opening with SMC-
- Go to SMC Global website click on the banner for ’15 Minutes Account Opening’
- This will redirect you to SMC eKYC portal.
- Get started with online account opening by submitting you Name, Email and Mobile Number.
- Upload the digital copies of the asked documents.
- Verify your identity through Aadhar OTP.
Your account will be opened instantly, and the best thing all its features would be available in just a few minutes.
Call their toll-free number and consult with their customer support team. Once you have shown your interest to open a trading and demat account with the company, a SMC Global representative will get in touch with you to proceed with the further steps.
Account Opening Status
The online account can be opened instantly.
It takes generally 3-4 days to open a trading and demat account offline given all your documents are in right order. The company’s customer support team will contact you if they come across any inconsistencies.
You can check the account opening status online through SMC e-KYC website.You can also call their toll-free number or write an email to the customer support.
Account Opening Charges
- SMC Global Account Opening Charges (Trading Acct): Nil
- SMC Global AMC Charges (Trading Acct): Nil
- SMC Global Account Opening Charges (Demat Acct): Rs 499
- SMC Global AMC Charges (Demat Acct): Rs 300
Documents Required
SMC Global asks for following documents when it comes to open the trading and demat account:
- Clear photocopy of PAN Card
- Proof of Identity- Passport, PAN, Voter ID, Driving License etc.
- Proof of Address- Voter ID, Driving License, Passport, Ration Card, Attested Photocopy of Bank Passbook/Bank Statement
- Latest Bank Statement with IFSC/MICR Code
- Cancelled Cheque
- 2 Passport Size Photographs
Additional documents as proof of income may be demanded for trading in derivative categories.
SMC Global Trading Platforms
SMC Global Online offers a wide range of trading platforms across the web, desktop, mobile and tablet. Therefore, you can expect to get different channels to trade, but when it comes to quality there are few concerns that need to be managedparticularly around user experience and applicability.
SMC Privilege
This trading software comes in the form of an executable file that needs to be downloaded and installed on laptop or desktop. Primarily meant for high frequency traders, SMC Privilege is known to have a lot of features given below:
- Real-time streaming quotes
- Intraday charting with signs
- Hotkey functions for quicker execution of orders and other options
- Online funds transfer facility
Considering the diverse functionality of this heavy-weight application, a user needs to have excellent configuration of his laptop of desktop.
SMC Global Easy Trader
Easy Trader by SMC Global is a web-based trading platform that is responsive in nature which means it can be accessed across various devices. It is comparatively lighter in performance and does not need any kinds of installation or downloads. Easy trader is known come with the following features:
- Accessible across devices and exhibits super performance even at lower internet bandwidth
- Access to back office reports for inspection
- Personalized Workspace feature with customization of UI widgets
- Trading possibility across segments and exchanges
SMC Global Mobitrade Mobile App
Mobitrade is a mobile-based trading application by SMC Global which is completely secure and user-friendly at the same time.
The app very easy to use and it boasts of user friendly interface. This platform offers the options to trade in Equities and Commodities to its users through handheld mobile devices. SMC Mobitrade provides real time access to market information such as Security Info, Contract info and Best Five.
Some of the features of Mobitrade are:
- Trading across multiple segments and exchanges
- Multiple market watch option
- Users get full-fledged access to various reports like order book, trade book, Net position etc
- Intraday and historical charts feature
SMC Tabtrade
SMC Tabtrade is a trading app especially developed for users on iPads and Android tabs. This app enables the users to perform trade that love to trade on the go and on relatively bigger screens. SMC Tabtrade Easy platform is best viewed and supported on browsers like Safari, Fire Fox Mozilla & Google Chrome.Here are the app features:
- Trading across segments and exchanges
- Multiple market watch with quote streaming option
- Interactive charts that help the clients with detailed technical analysis
There are lots of areas on this app that need to be improved from quality and usability perspective.
SMC Global Customer Care
The full-service stock broker’s customer service is available through a number of communication channels including:
- Toll-free number
- Email support
- Web help
- Phone
- Offline branches
- Webchat
Though the stock broker is available across a number of channels, there is huge scope of improvement when it comes to deliver great customer service experience. For example, the lack of personalization in communication and skill set is quite evident in the way their customer care executives react to any query. It looks like they refer to a pre-decided script which leaves no space for any kind of bonding.
The broker needs to focus on the training their support executives and make sure the user queries get handled professionally and in no time.
SMC Global Pricing
SMC Global is primarily known for its reasonable brokerage plans which clearly reflects right from the opening of trading account to its management. However, transaction charges are found to be a bit higher than other similar level of brokers in the industry.
Account Opening Charges
- SMC Global Account Opening Charges (Trading Acct): Nil
- SMC Global AMC Charges (Trading Acct): Nil
- SMC Global Account Opening Charges (Demat Acct): Rs 499
- SMC Global AMC Charges (Demat Acct): Rs 300
SMC Global Brokerage Charges
| Segment | Brokerage Fee |
|---|---|
| Flat Monthly Fee | |
| Equity Delivery | 0.3% |
| Equity Intraday | 0.03% |
| Equity Futures | 0.03% |
| Equity Options | Rs.70 per lot |
| Currency Futures | 0.03% |
| Currency Options | Rs.20 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
SMC Demat Account Charges
| S. No. | Services | Charges (General Scheme) |
|---|---|---|
| 1 | Annual Maintenance Charges (AMC) | Rs 300/- PA |
| 2 | Dematerialisation | Rs 5/- per certificate |
| 3 | Rematerialisation | Rs 25/- per certificate |
| 4 | Pledge creation | Rs 60/- per Instruction |
| 5 | Pledge Closure / Invocation | Rs 30/- per Instruction |
| 6 | On-Market Transaction Charges | Rs 15/- per Instruction for POA Clients Rs 20/- per Instruction for Non POA Clients |
| 7 | Off-Market Transaction Charges | 0.03% Subject to Min Rs 20/- & Max Rs 50/- per Instruction |
| 8 | Delivery Instruction Book Charges | Rs 30/- (20 leafs) |
| 9 | Demat Rejection Charges | Rs 20 per instruction |
SMC Global Transaction Charges
| Segment | Transaction Fee |
|---|---|
| Equity Delivery | 0.0035% |
| Equity Intraday | 0.0035% |
| Equity Futures | 0.0029% |
| Equity Options | 0.065% (on premium) |
| Currency Futures | 0.0029% |
| Currency Options | 0.065% (on premium) |
| Commodity | 0.0030% |
SMC Global Margins
The exposure or margin details of SMC Global are mentioned below.
| Trading Segment | Margin SMC Global |
|---|---|
| Equity Delivery | Up to 3x |
| Equity Intraday | Upto 10x Intraday |
| Equity Future | Upto 2x |
| Equity Options | NA |
| Currency Future | NA |
| Currency Options | NA |
| Commodity Future | Upto 2x |
| Commodity Options |
SMC Global IPO
SMC Global offers quality-led IPO application services to its clients. The company also offers IPO financing facility to users. SMC customers can choose to get loans of up to Rs 2 lakhs to finance their IPO application.
You would need your Demat details while applying for IPO with SMC.
The allotted shares from the IPO will be credited to your SMC Demat account. After the listing of the company, you can decide to sell the shares using the SMC trading account.
Otherwise, you can also apply for an IPO online using your bank account and SMC Demat account. The process is simple and takes only few of your minutes.
Steps to Apply in an IPO using net banking ASBA
To apply for an IPO’s using net-banking ASBA offered by your bank, you need to take the following steps-
- Log in to your net banking account.
- Visit the ‘Invest in IPO’ section
- Some banks may ask you to register as an applicant for the first time
- Refer to the list of IPOs and choose the IPO you wish to apply for.
- Provide your demat account details
- Enter IPO details like price, number of lots etc
- Confirm and submit the application
The application amount will be locked in the account and will only get debited when shares are allotted. It will get released if shares are not allotted. The lockedsumis subjected to earn interest for the period.
SMC Global Research
In terms of market research, SMC Global provides an extended level of reports and endorsements at both the technical and fundamental analysis. Here are the various types of reports and research elements provided by the stock broker with their corresponding publishing frequency:
Equity Analysis
- Equity Morning Mantra – Daily
- Corporate Action Meter – Daily
- Techno Funda Report – Fortnightly
- Corporate Action Meter – Weekly
- Macro Economic Meter – Daily
- Macro Economic Meter – Weekly
- Result Updates – As and When
- Pre-budget analysis – Yearly
- RBI Monetary Policy Report – Bi-monthly
- Special Reports – Bi-monthly
Derivative Analysis
- Derivatives Daily
- Index Ranker
Commodity Analysis
- Metal & Energy – Daily
- Agri – Daily
- Special Updates – As and When
- Techno Funda Report – As and When
- Agri Updates – Monthly
- Metal & Energy Updates – Monthly
- Commodity Momentum Report – Weekly
Currency Analysis
- Currency Daily Buzzer
- Weekly Momentum Report
- IPO Reports – As and When
- Mutual Funds Weekly Reports
- WiseMoney– Weekly Newsletter
The preciseness of these reports is found to be really goodso far. However, with the passage of time, it appears that the performance of these tips and recommendations have come across a steady decline. Either the research team of the broker has seen a big shuffle or the concentration of the broker towards its research has seen some level of compromise.
Thus, at least originally, users are suggested to double check or cross-refer the tips and suggestions provided by the broker before reallyapplying them during their order executions.
The Conclusion
SMC Global is one of the long-standing players in the full-service stockbroking segment in India. It was established in the year 1994 and has had an extended record of upkeeping a low customer compliant percentage. For 2017, it wasnearly around 0.07% of its 75k active clients. In addition, the trading platforms offered by the broker are great in performance too. All and all, it can be stated as a trusted name.
However, customer service is one area that demands for high levels of enhancement. If this is managed properly, SMC Global can choose to fill the widening gap. The broker definitely has a lot to improve in this area.