Trading Bells is an online discount broker based out of Indore. The company is backed by Swastika Ltd, which is a traditional brokerage house.
The Trading Bells platform was launched in July 2016 and is today known for providing free Demat accounts and trading accounts. Zero AMC charges are also one of its main value propositions.
Trading Bells is relatively a newcomer when compared to other discount broking peers like Zerodha and AsthaTrade. Trading Bells is a member of NSE, BSE, NCDEX, MCX-SX, ICEX, and USE. The company offers its investor-clients investment services in stocks, derivatives, commodities, currency markets, exchange-traded funds, IPO placements, mutual funds, FDs, and bonds.
Trading Bells is also a registered DP with CDSL and NSDL depositories. The company has a presence in more than 60 cities across India. The company caters to over 60,000 clients and 700 sub-brokers.
Our Ratings
Fee Structure – 3.5/5
Customer Service – 3/5
Usability – 3.5/5
Variety of Offerings – 4/5
OVERALL – 3.5/5
Platforms
Trading Bells offers its clients a range of platforms across various types of devices. These platforms are mostly third party software packages along with a couple which, Trading Bells’ parent company, Swastika Investment has created.
ODIN Diet
ODIN Diet is a downloadable software program developed by Financial Technologies. It is a well-known trading terminal package and can be downloaded on a desktop or laptop. It can also be accessed on ODIN’s website.
ODIN Diet provides real-time information from multiple indices on the stock exchanges. The user can place an unlimited number of scrips on the watch list. The terminal can be easily integrated with mutual fund investments and IPO purchases. One can also customize the terminal interface to a certain degree.
NSE Now
Trading Bells users will have access to a web-based trading platform created by the NSE. NSE Now is a trading platform that can be accessed from a web browser. Trading Bells has tied up with NSE to offer its users the NSE Now platform.
It works similar to the other web-based platform offered in the market. The user has to open the link, enter the login details, and the app will launch itself. No downloading or installing is required. It is very straightforward indeed.
The NSE Now the app is developed by NSE and licensed to Trading Bells. Users can enjoy great features like smart order routing, historical, intra-day, and real-time charting tools for trading and technical analysis, and a robust risk-management setup that makes the entire trading experience safe and secure.
NetNet Lite
Keeping with the web-based theme, Trading Bells’ parent company has developed its own browser-run trading platform known as NetNet Lite. This application is pretty basic in terms of the features that it offers. That makes it suitable for beginner users.
Accessing NetNet Lite is quite simple. Once simple has to visit the website of Swastika Investment and then follow the link to NetNet Lite. After clicking on the platform, one has to enter the username and password. That’s it!
Trading Bells Mobile Trade
Trading Bells offers trading platforms for mobile phones which can be used to trade on-the-go. Mobile Trade is an app developed by Swastika Investment and it allows Trading Bells users to trade in equity, derivatives, commodities, and currencies.
Users can also create customized watch-lists for tracking specific stocks. Aftermarket orders can also be placed via the Mobile Trade app. Traders can take advantage of intraday charts and research reports available on the mobile app itself.
The Mobile Trade app is available on Google PlayStore. It has received almost 4 starts and the download size is about 48.1 MB.
NSE Mobile
NSE has not only developed a web-based platform, but they also have a mobile-based trading platform. It is called NSE Mobile and Trading Bells users get access to this handy app. NSE Mobile is compatible with Android, iOS, Windows, and Blackberry (in case anyone still uses the classic Blackberry phones).
The NSE Mobile app has a smooth user interface. It also offers company news and real-time market data. Traders and technical analysis followers will have access to various charts and charting features as well.
The NSE Mobile app is not very large in size. You only need to download about 37.4 MB of data. The app has pretty good reviews as well. It gets over 4 stars on Google Play Store.
Charges
Account opening charges
Trading Bells charges Rs.750 (including GST) for opening an Equity + Commodity account. This is a one time charge. The good part is that there is no charge for annual maintenance on trading accounts.
The Rs.750 charge mentioned above covers both trading and Demat accounts. If someone wants to open just a Demat account, then the charges are Rs.250.
Brokerage Charges
Trading Bells is a discount broker. The following are the brokerage charges for various services that Trading Bells offers:
| Service | Brokerage |
| Equity Intraday | 0.01% or Rs.20 per executed order, whichever is lower |
| Equity Delivery | 0 |
| Equity Futures | 0.01% or Rs.20 per executed order, whichever is lower |
| Equity Options | Rs.20 per executed order |
| Currency Futures | 0.01% or Rs.20 per executed order, whichever is lower |
| Currency Options | Rs.20 per executed order |
| Commodity | 0.01% or Rs.20 per executed order, whichever is lower |
Transaction Charges
Apart from account opening charges and brokerage charges, Trading Bells users also have to pay certain transaction turnover charges as listed below:
| Service | Brokerage |
| Equity Delivery | NSE: 0.00325% | BSE: 0.00275% |
| Equity Futures | NSE: 0.0021% | BSE: 0.0007% |
| Equity Options | NSE: 0.06% | BSE: 0.03% |
| Currency Futures | NSE: 0.00135% |
| Currency Options | NSE: 0.044% |
| Commodity MCX | Non Agri: 0.0031% Agri: 0.004% (NCDEX) |
Government charges
In addition to the brokerage charges, government charges and transaction charges are also applicable. They are listed below:
| STT | GST | SEBI Charges | Stamp Duty | |
| Equity Intraday | 0.025% on Sell Side | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Equity Delivery | 0.1% on both Buy and Sell | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Equity Futures | 0.01% on Sell Side | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Equity Options | 0.05% on Sell Side (Premium) | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Currency Futures | No Charge | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Currency Options | No charge | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
| Commodity | 0.01% on Sell Side (non-Agri) | 18% on Brokerage + Transaction charges | Rs.15 per crore | As per user’s state |
Other Charges
| Service | Charge |
| Call and Trade | Rs.20 per executed order placed on call |
| SMS (Trading Confirmation) Charges | Rs.0.25 per message subject to a maximum of 10 messages per day |
| DP Charges (Delivery based Equity Selling) | 0.03% or Rs.25 whichever is higher |
Margin Accounts
Trading Bells offers margin trading accounts. Only experienced investors should think about trading on margin. Margin is like borrowing money from the broker at high-interest rates. Only sophisticated investors truly understand the risks behind margin trading.
The following are the margin exposure levels for various segments:
| Segment | Intraday Margin | Margin Plus/CO Order |
| STANDARD PLAN | ||
| Equity Intraday | 10X | 22X |
| Equity Delivery | 1X | NA |
| Index/Stock Futures | 3X | 7X |
| NSE Currency | 3X | 7X |
| MCX/NCDEX Futures | 3X | 7X |
| Options Buy/Sell | 1X | 1X |
| PREMIUM PLAN | ||
| Equity Intraday | 20X | 40X |
| Equity Delivery | 2X | NA |
| Index/Stock Futures | 5X | 10X |
| NSE Currency | 5X | 10X |
| MCX/NCDEX Futures | 5X | 10X |
| Options Buy/Sell | 1X | 1X |
Opening an account with Trading Bells
If you like the offerings of Trading Bells and are ready to open an account with them, then you first need to visit the company’s website and fill out a contact form. Alternatively, you can call them and a relationship manager (or someone from the sales team) will assist you.
You can also email Trading Bells and request opening an account with them. If you don’t like the online route, then you can also visit one of Swastika Ltd’s 80 branches across India and open an account there.
Once someone responds to your request, you will be guided on how to go through the KYC process. You will have to fill out information like name, date of birth, contact info, etc. on the KYC form.
You will then have to submit your identification documents like PAN card copy and Aadhar card copy. Passport-sized photos are also required. You can submit these documents online.
Once Trading Bells receives these documents and processes your application, you will get a call from the sales team for verification purposes. Once all your details are verified, you should be ready to trade in 1 working day.
Also Read: Master Trust Detailed Analysis
Pros and Cons of Trading Bells
Trading Bells offers a decent array of online trading platforms to investors who want to invest in the stock, commodity, and futures markets. There is plenty to like about Trading Bells’ offerings. However, there are some minus points as well.
Advantages
- Trading Bells’ charges are low. Being a discount broker, it offers some enticing benefits like zero annual maintenance charges. While some segment charges are not as low as its competitor’s offerings (e.g. Zerodha), they are still more economical than what full-service brokerages charge.
- Trading Bells does not charge anything extra for using various platforms that the company offers its users. Investors can trade on a fixed machine, on a web browser, or on a mobile phone using Trading Bells’ platforms. The setup of these apps/software packages is minimal and quite simple.
- Trading Bells has both physical branches and an online presence. It has over 80 physical locations all over India.
- Trading Bells is backed by an experienced traditional broker in Swastika Ltd. The parent has the resources to build its own trading platforms which Trading Bells users also access.
- Equity Delivery brokerage is free of charge. The flat Rs.20 brokerage charge per executed order is also among the lowest in the discount brokerage space.
Disadvantages
- The account opening is not free. Trading Bells does charge Rs.750 for Demat and trading accounts.
- Call and Trade service is not free. There are some hidden charges for SMS alerts and DP related services as well.
- Trading Bells’ platforms are decent but not cutting edge. In terms of technology, the user does not get anything special.
Conclusion
Trading Bells is a reasonably good discount broker. It offers all the necessary services that investors and traders need to go about their business. The rates aren’t exactly low and there are some hidden charges.
However, the company is relatively new and backed by an experienced parent company. Trading Bells can be seen as a no-frills no thrills option among various discount brokers. There is no associate program, no free account openings, or other such incentives.
The company has a pretty good track record in terms of strong customer service. It has an online and offline presence as well. Investors looking for a no-nonsense option can look at Trading Bells as their brokerage of choice.
