About Samco Securities
Samco Securities Limited, formerly known as Samruddhi Stock Brokers Limited, is one of India's recognised discount brokerage firms headquartered in Mumbai. Originally established in 1993 and rebranded under the Samco identity in 2015 by founder Jimeet Modi, the firm has grown into a technology-first brokerage that serves retail traders and investors across equity, derivatives, currency, commodity, mutual funds, IPOs and Margin Trading Facility (MTF) segments.
Samco holds trading memberships on NSE (Capital Market, F&O and Currency Derivatives), BSE (Equity, F&O and Currency Derivatives) and MCX (Commodity Derivatives), along with depository participant status with CDSL, and is also listed as a Mutual Fund Distributor with AMFI (ARN-120121).
The brand is best known for its flat-fee pricing philosophy: a maximum brokerage of ₹20 per executed order across equity, F&O, currency and commodity trades. Samco's proprietary Giga Trading Engine powers its flagship mobile app, StockNote, as well as its web trading terminal, and the company has more recently expanded into research-backed US stock investing for Indian residents. The broker states it is trusted by more than 5.5 lakh investors, and continues to add features such as GTT-OCO orders, options Greeks, basket trading and an in-house stock rating system to differentiate itself from purely execution-only discount brokers.
Why Choose Samco Securities?
Samco positions itself as a low-cost, technology-led alternative to both traditional full-service brokers and the largest discount brokers. The pricing is simple to remember — instead of tiered plans or percentage-only models that can spike on large trades, Samco caps most order types at ₹20, making cost estimation straightforward for traders who place frequent orders across segments. Samco was also an early mover in offering GTT (Good Till Triggered) orders free of cost, GTT-OCO for systematic profit booking and stop-loss management, and basket order analysis — tools many beginners only encounter on more expensive platforms.
Samco's research arm adds a layer that pure execution-only brokers do not offer: stock ratings, sector views, and now research-backed US stock recommendations through a Prime subscription tier. The Margin Trading Facility (MTF) is also built into the regular trading workflow with auto-pledging, removing a common operational friction point — manually pledging and unpledging shares — that exists with several other brokers, alongside a relatively long list of MTF-eligible stocks with no additional facility fee beyond the daily interest charge.
That said, Samco is not the cheapest broker on every metric — its delivery brokerage is not free unlike some large discount brokers, and its annual Demat AMC of ₹400 (after a free first year) is on the higher side. Whether Samco is the right choice depends on whether you value its research tools, MTF flexibility and order-type features enough to offset these costs relative to alternatives.
Key Features of Samco Securities
- Flat brokerage structure capped at ₹20 per executed order across equity, F&O, currency and commodity segments.
- Free account opening and zero Demat AMC for the first year.
- Proprietary Giga Trading Engine powering the StockNote mobile app and web platform.
- Free GTT (Good Till Triggered) and GTT-OCO (One-Cancels-Other) order types.
- Margin Trading Facility (MTF) with up to 4X leverage and auto-pledging of purchased shares.
- Bracket Orders (BO) and Cover Orders (CO) available for intraday risk management.
- Samco Stock Rating system that grades stocks from "AAA" to "Penny Stock" on business fundamentals.
- Research-backed US stock investing and recommendations via Samco Prime.
- Dedicated calculators for brokerage, margin, SIP, option fair value and physical settlement.
- RankMF platform for direct mutual fund investing and StockBasket for curated thematic portfolios.
- No hidden charges beyond standard statutory levies, as confirmed on Samco's official support documentation.
Basic Broker Details
| Parameter | Details |
|---|---|
| Broker Name | Samco Securities Limited (formerly Samruddhi Stock Brokers Limited) |
| Category | Discount Broker |
| Founded | 1993 (rebranded as Samco in 2015 by Jimeet Modi) |
| Headquarters | Mumbai, Maharashtra |
| SEBI Registration No. | INZ000002535 |
| SEBI Research Analyst Reg. | INH000005847 |
| CDSL DP ID | IN-DP-CDSL-443-2008 / IN-DP-463-2017 (as listed on official channels) |
| AMFI Registration | ARN-120121 (Mutual Fund Distributor) |
| Exchange Membership | NSE (CM, F&O, Currency) | BSE (Equity, F&O, Currency) | MCX (Commodity) |
| Flagship Platforms | StockNote App, StockNote Web (Samco 3.0), Nest Trader, RankMF, StockBasket, KyaTrade |
| Number of Investors | 5.5 Lakh+ (as stated by the broker) |
| Customer Care Number | 022-2222-7777 |
Trading Platform Review
Mobile App Review — StockNote
Samco's flagship mobile application, StockNote, is built on the in-house Giga Trading Engine and is available for both Android and iOS. The app combines order execution with research features such as personalised stock and options recommendations, an options payoff analyser, FII/DII activity insights, an event calendar and a stock screener. For options traders, the app surfaces key Greeks (Delta, Gamma, Theta, Vega) directly on the option chain — a feature not every discount broker offers natively. The app also supports GTT and GTT-OCO orders, basket order creation and analysis, bracket and cover orders, and real-time portfolio and positions tracking. Samco also runs three companion apps — RankMF for mutual funds, StockBasket for curated stock portfolios, and KyaTrade for trade recommendations.
Web Platform Review
The Samco web trading platform (branded as Samco 3.0 / StockNote Web) mirrors most of the mobile app's functionality in a browser-based interface, allowing traders to place orders, manage watchlists, track positions and access charting tools without installing desktop software. For traders who prefer a dedicated desktop terminal, Samco also offers Nest Trader, a long-standing third-party trading terminal widely used across Indian discount and full-service brokers.
Speed Analysis
Samco markets its Giga Trading Engine on the basis of speed and stability, with single-click order execution on the mobile app. Actual execution speed can vary with connectivity, exchange-side load during high-volatility sessions, and device performance.
Charting Features
Samco's platforms include built-in charting with a wide range of technical indicators, drawing tools and multiple timeframes, sufficient for most technical analysis workflows.
TradingView Integration
Samco has rolled out TradingView-powered charting on select platforms, including its US stocks offering, giving users access to a more advanced, widely recognised charting library alongside the native tools.
Brokerage & Charges Details (By Segment)
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | ₹20 per executed order or 2.5% of trade value, whichever is lower |
| Equity Intraday | ₹20 per executed order or 0.25% of trade value, whichever is lower |
| Equity Futures | ₹20 per executed order |
| Equity Options | ₹20 per executed order |
| Currency Futures | ₹20 per executed order |
| Currency Options | ₹20 per executed order |
| Commodity Futures (MCX) | ₹20 per executed order |
| Commodity Options (MCX) | ₹20 per executed order |
Segmented Fee Insights
Delivery Charges: Equity delivery trades attract Samco's standard ₹20-per-order cap (or 2.5% of trade value, whichever is lower). Unlike a few large discount brokers that offer zero-brokerage equity delivery, Samco charges on delivery trades as well, which long-term, buy-and-hold investors should factor into cost calculations, particularly for frequent small lot sizes.
Intraday Charges: Intraday equity trades are capped at ₹20 per executed order or 0.25% of trade value, whichever is lower, in line with the broader discount-broker norm in India.
F&O Charges: Both futures and options orders across equity, currency and commodity segments are charged at a flat ₹20 per executed order, with options additionally subject to a transaction charge calculated on premium value.
Currency Charges: Currency F&O brokerage mirrors the equity F&O structure at ₹20 per order, with separate transaction charges, CM charges and stamp duty applicable as per NSE's currency derivatives segment rules.
Commodity Charges: Commodity futures and options on MCX are similarly charged at ₹20 per order, with Commodity Transaction Tax (CTT) applicable on the sell side instead of STT, as per government regulations for the commodity segment.
Account Opening, AMC & DP Charges
| Charge Head | Individual / Retail | Non-Individual |
|---|---|---|
| Account Opening Fee (Demat, Trading & Platform) | ₹0 (Free) | ₹0 (Free) |
| Annual Maintenance Charge (AMC) — 1st Year | ₹0 (Free) | ₹0 (Free) |
| AMC from 2nd Year Onward | ₹400 + applicable taxes | ₹800 + applicable taxes |
| Demat Delivery Charge — Within Samco DP | ₹20 + applicable taxes | ₹20 + applicable taxes |
| Demat Delivery Charge — Outside Samco DP | ₹25 or 0.02% of value, whichever is higher + taxes | ₹25 or 0.02% of value, whichever is higher + taxes |
| Pledge / Unpledge Charges | ₹30 per transaction + taxes | ₹30 per transaction + taxes |
| Dematerialisation Request | ₹10 per certificate + ₹50 postal charge | ₹10 per certificate + ₹50 postal charge |
Margin Trading Facility (MTF) Review
| MTF Parameter | Detail |
|---|---|
| Leverage Offered | Up to 4X on eligible securities (varies by stock and risk parameters) |
| Interest Rate on Funded Amount | 0.05% per day (approx. 18% per annum) on the borrowed portion only |
| Number of Eligible Stocks | 800+ stocks (subject to periodic review and SEBI's Group I security criteria) |
| Holding Period | No fixed cap; positions can be held as long as margin requirements are met |
| Pledging | Auto-pledged; no manual pledge request needed (pledge/unpledge charges still apply) |
| Brokerage on MTF Trades | Standard tariff applies — ₹20/order or 0.5% (delivery)/0.05% (intraday), whichever is lower |
| Additional MTF Subscription Fee | None disclosed beyond standard interest and pledge charges |
Hidden Charges Analysis
| Charge | Amount |
|---|---|
| DP Charges (per ISIN, per sell day) | ₹20 + taxes (within Samco) / ₹25 or 0.02%, whichever is higher (outside Samco) |
| Call & Trade Charges | ₹50 + taxes, per executed order placed via dealing desk/support |
| RMS Square-off Charges | ₹50 + taxes, per executed order squared off by the Risk Management team |
| Physical Contract Note Request | ₹50 + taxes, per contract note |
| Physical Delivery (F&O expiring into delivery) | 2.5% of contract value + 18% GST |
| Payment Gateway Charges | ₹9 + GST, when adding funds via payment gateway |
| Pledge / Unpledge Charges | ₹30 per transaction + applicable taxes |
| Address Modification (Online) | ₹200 + GST |
Fee Mechanics & Fine Print
According to Samco's own help-centre disclosure, the broker states it does not levy hidden charges beyond brokerage and the statutory/government charges applicable to all brokers in India. A few points are worth keeping in mind:
- MTF Daily Interest: Accrues daily, including weekends and market holidays, and stops only once the position is squared off — a detail traders sometimes overlook when estimating the real cost of holding leveraged positions for weeks or months.
- Call Desk & RMS Charges: Call & Trade and RMS square-off charges (₹50 each) can add up for traders who rely on dealing-desk assistance or breach margin requirements.
- DP Charges Outside Samco: Transactions routed outside Samco's own DP network attract a higher rate (₹25 or 0.02%, whichever is higher) than the within-DP rate of ₹20.
Government & Statutory Charges (Common Across All Brokers)
| Charge | Rate |
|---|---|
| STT — Delivery | 0.1% on both buy and sell |
| STT — Intraday | 0.025% on sell side only |
| STT — Futures | 0.05% on sell side |
| STT — Options | 0.15% on sell side (on premium); 0.15% of intrinsic value if exercised |
| Commodity Transaction Tax (CTT) | 0.01% (Futures) / 0.05% (Options), sell side only |
| Exchange Transaction Charges (NSE Equity) | ₹3.07 per lakh (Delivery/Intraday) |
| Exchange Transaction Charges (NSE Futures) | ₹1.83 per lakh |
| Exchange Transaction Charges (NSE Options) | ₹35.53 per lakh on premium |
| SEBI Turnover Charges | ₹0.10 per lakh (₹10 per crore) across segments |
| Stamp Duty — Delivery | 0.015% or ₹1,500/crore on buy side |
| Stamp Duty — Intraday | 0.003% or ₹300/crore on buy side |
| Investor Protection Fund Trust (IPFT) — NSE | ₹0.01 per crore + GST of traded value (varies slightly by segment) |
| GST | 18% on (Brokerage + Transaction Charges + SEBI Charges + CM Charges) |
Customer Support Review
| Support Channel | Detail |
|---|---|
| Phone Support | 022-2222-7777 |
| Email Support | help@samco.in (general queries) / grievances@samco.in (complaints) |
| Ticketing System | Available via samco.in/help-support (Raise a Ticket) |
| Community Forum | forum.samco.in (Trade Community) |
| Branch Support | Limited; Samco operates primarily as a digital-first, online broker |
| SEBI SCORES / ODR Escalation | Available — scores.sebi.gov.in and smartodr.in for unresolved grievances |
Is Samco Securities Safe?
As a SEBI-registered broker with active NSE, BSE, MCX and CDSL credentials, Samco operates within India's standard regulatory framework for stockbrokers. Client securities held in Demat form remain in the investor's own CDSL account rather than pooled with the broker's holdings — a structural safeguard built into India's depository system rather than something specific to Samco.
SEBI & Exchange Framework
Samco holds SEBI Stock Broker Registration No. INZ000002535 and SEBI Research Analyst registration INH000005847. It holds membership on NSE (Capital Market, F&O and Currency Derivatives), BSE (Equity, F&O and Currency Derivatives) and MCX (Commodity Derivatives).
Depository Safe-keeping
Operates as a Depository Participant with CDSL (DP ID IN-DP-CDSL-443-2008 / IN-DP-463-2017 as listed on official channels), and is registered with AMFI as a Mutual Fund Distributor (ARN-120121).
Investor Grievance Redressal
Available through the SEBI SCORES portal and the SMART ODR Portal for unresolved grievances.
Verification Note
As with any broker, investors should independently verify current SEBI registration status and any regulatory actions via the SEBI website before opening an account, since registration details and regulatory standing can change over time.
Pros and Cons of Samco Securities
Pros
- ✓ Flat brokerage capped at ₹20 per order across equity, F&O, currency and commodity segments.
- ✓ Free account opening with zero Demat AMC for the first year.
- ✓ Free GTT and GTT-OCO order types, useful for systematic entry/exit without constant monitoring.
- ✓ MTF with up to 4X leverage and convenient auto-pledging of purchased shares.
- ✓ Proprietary Giga Trading Engine designed for speed and single-click execution.
- ✓ In-house Samco Stock Rating system for fundamental screening.
- ✓ Research-backed recommendations across Indian and now US stocks via Samco Prime.
- ✓ Bracket Orders and Cover Orders available for structured intraday risk management.
- ✓ Multiple specialised apps (RankMF, StockBasket, KyaTrade) for different investment needs.
- ✓ Transparent, publicly listed pricing page with no undisclosed charges reported on official channels.
Cons
- ✗ Equity delivery is not free, unlike some large discount brokers in India.
- ✗ Demat AMC of ₹400/year (₹800 for non-individuals) from the second year is higher than several competitors.
- ✗ Limited physical branch network for investors who prefer in-person support.
- ✗ Call & Trade and RMS square-off charges (₹50 each) can add up for dealing-desk reliant traders.
- ✗ DP charges outside Samco's own DP network are higher than the within-DP rate.
- ✗ No explicit 3-in-1 account (bank + trading + Demat) integration reported on official channels.
- ✗ No insurance distribution offering as part of the product suite.
- ✗ MTF interest of 0.05%/day (~18% p.a.) is broadly in line with the industry but not the cheapest available.
- ✗ Physical delivery brokerage (2.5% + GST) for F&O contracts settling into delivery is comparatively high.
- ✗ Address modification done online carries a ₹200 + GST charge, where some brokers offer this free.
Samco vs Competitors: Detailed Comparison
Samco vs Zerodha
| Parameter | Samco Securities | Zerodha |
|---|---|---|
| Equity Delivery Brokerage | ₹20 or 2.5%, whichever is lower | ₹0 (Free) |
| Intraday / F&O Brokerage | ₹20 per order | ₹20 per order or 0.03%, whichever lower |
| Demat AMC | ₹400/year (free 1st year) | ₹300/year (free 1st year) |
| MTF Availability | Yes, up to 4X leverage | Yes, via Zerodha's MTF product |
| Research & Stock Ratings | Yes (Samco Stock Rating, US stock recommendations) | Limited in-house research; relies on Varsity for education |
Samco vs Angel One
| Parameter | Samco Securities | Angel One |
|---|---|---|
| Equity Delivery Brokerage | ₹20 or 2.5%, whichever is lower | Reported as free on delivery per recent plans; verify current tariff |
| Intraday / F&O Brokerage | ₹20 per order | ₹20 per order (flat, as per current plan) |
| Demat AMC | ₹400/year | Approximately ₹240/year (as widely reported) |
| Advisory / Research Support | Stock ratings, US stock recommendations | Research reports and advisory tools |
| Branch Network | Limited, digital-first | Larger branch and sub-broker network |
Samco vs Groww
| Parameter | Samco Securities | Groww |
|---|---|---|
| Equity Delivery Brokerage | ₹20 or 2.5%, whichever is lower | Free, as widely reported |
| Intraday / F&O Brokerage | ₹20 per order | ₹20 per order (flat) |
| Demat AMC | ₹400/year | Free, as widely reported |
| Mutual Fund Investing | Yes, via RankMF | Yes, direct mutual funds — a core Groww strength |
| MTF / Margin Funding | Yes, up to 4X | Margin funding available but with a narrower product suite historically |
Samco vs ICICI Direct
| Parameter | Samco Securities | ICICI Direct |
|---|---|---|
| Broker Type | Discount Broker | Full-Service Broker |
| Brokerage Model | Flat ₹20 per order | Percentage-based, generally higher than discount brokers |
| 3-in-1 Account (Bank + Trading + Demat) | Not offered | Offered, integrated with ICICI Bank |
| Research & Advisory | Stock ratings, recommendations | Extensive in-house research and dedicated relationship managers |
| Best Suited For | Cost-conscious, self-directed traders | Investors wanting banking integration and advisory support, at a higher cost |
Samco vs Motilal Oswal
| Parameter | Samco Securities | Motilal Oswal |
|---|---|---|
| Broker Type | Discount Broker | Full-Service / Hybrid Broker |
| Brokerage Model | Flat ₹20 per order | Plan-dependent; historically percentage-based with some flat-fee plans |
| Research & Advisory | Stock ratings, US stock recommendations | Strong in-house research desk and advisory calls |
| MTF | Up to 4X leverage, auto-pledge | Margin Trading Facility also available |
| Best Suited For | Self-directed, cost-sensitive traders | Investors who value advisory-led research and are comfortable with higher costs |
Who Should Use Samco Securities?
- Active intraday and F&O traders who want predictable, flat-fee brokerage regardless of trade size.
- Traders who want to use MTF/leverage with minimal manual pledging overhead.
- Self-directed investors who appreciate stock-rating tools but do not need a dedicated relationship manager.
- Investors interested in research-backed US stock investing alongside Indian markets.
- Traders who frequently use GTT/GTT-OCO orders for hands-off entry and exit management.
Who Should Avoid Samco Securities?
- Long-term, low-frequency investors who want a completely free equity delivery brokerage model.
- Investors who specifically want a 3-in-1 banking + trading + Demat account.
- Traders who prioritise a large physical branch network for in-person support.
- Investors seeking insurance products bundled with their broking relationship.
- Cost-sensitive investors with very small, infrequent trade sizes where AMC and DP charges weigh more heavily on returns.
Samco Securities Ratings Breakdown
The ratings below reflect ShareBazaar Online's independent editorial assessment based on the verified charges, features and regulatory data in this review. They are not official scores published by Samco, NSE, BSE, SEBI or any app store.
Flat, easy-to-understand fee structure capped at ₹20 per order.
Feature-rich app with GTT, options Greeks and basket orders.
Wide stock coverage with auto-pledge convenience.
Digital-first support; limited branch presence.
SEBI-registered with NSE/BSE/MCX/CDSL credentials.
Competitive for frequent F&O/intraday traders; delivery & AMC costs not the lowest for long-term investors.
Expert Verdict on Samco Securities
Samco Securities occupies a credible middle ground in India's increasingly crowded discount-broking space. Its core proposition — a flat ₹20 ceiling on brokerage across equity, F&O, currency and commodity segments, combined with free GTT/GTT-OCO orders, auto-pledged MTF up to 4X leverage, and an in-house stock-rating system — gives it a feature set that goes beyond pure execution-only trading. For traders who place frequent intraday and F&O orders, the predictable flat-fee structure removes a layer of cost uncertainty that percentage-based full-service brokers cannot match.
Where Samco is less competitive is on the long-term, buy-and-hold investor profile. Its equity delivery brokerage is not free, its Demat AMC of ₹400 per year (after a free first year) sits above some large discount-broker peers, and its branch and 3-in-1 account offerings are limited compared with bank-backed full-service brokers. On the regulatory and safety front, Samco's SEBI registration, NSE/BSE/MCX memberships, CDSL depository participant status and Research Analyst registration place it within India's standard regulatory framework, and its official help-centre disclosures explicitly state there are no hidden charges beyond standard statutory levies. Overall, Samco is best suited to self-directed, cost-conscious traders — particularly those active in intraday and derivatives segments, or those who want to use MTF leverage without manual pledging overhead — rather than investors seeking a fully integrated banking-cum-broking relationship or a zero-cost delivery investing experience.
