We believe, our customers should be given one month to try the Samco Platform, so that they can experience never before seen features like personalised stock alerts, insight integrated giga trading, order placement assistance and much more on the Samco platform at virtually no brokerage cost.

Brokerage Cashback will be calculated on all transactions done using the Samco Platform and will be refunded the very next day in customers ledger directly.
Example:
If you place 3 successful orders using the Samco platform and the brokerage amounts to INR 60 (Rs.20 per order X 3 orders). The next day INR 60 will be credited to your ledger. Effectively making the transactions brokerage free for you.

The 30 days will start from the first login in date on the stock note platform. This is applicable for all accounts opened after 18th March 2018.
For Example:
You Logged in to the Samco Application on 1st of April 2018, Your 30 days of brokerage cash back will start from 1st April 2018 and end on 30th April 2018 at 12 am Midnight. All Trades made during these 30 days using the Stock Note Platform are eligible for 100% Brokerage cash back.

SAMCO is a Discount Stock Broker and Commodity Broker. It’s a low cost, technology driven stock broker with memberships across all leading stock and commodity exchanges in India including BSE, NSE, MCX-SX, MCX and NCDEX. You can place orders on SAMCO's platforms to buy or sell securities and your orders will receive the best possible trade execution.

Trades made using the SAMCO Web, Call and Trade Service, Desktop Platform, RMS Square Off and Second/Third Leg orders of Bracket orders are NOT Eligible for Brokerage cash back since these are not in essence placed from the Samco Application. Usual brokerage as per the brokerage tariff sheet will be applied on placing orders from these platforms even during the 30 days of brokerage cash back eligibility. Brokerage Cash back is exclusively for orders placed using the new Samco Application.

Any Trades placed in all segments using the Samco Application are eligible for Cash Back

What about STT and other taxes? The 100% brokerage cashback offer ensures effectively no brokerage for the first month. All non-brokerage transaction charges like STT, GST, Stamp Duty, etc shall continue to be applicable and they shall not be refunded. Only the amount of brokerage applied in the contract notes, to the extent of orders placed through the Samco Application shall be refunded by way of a ledger credit.

After 30 days, the normal flat brokerage will apply which is flat Rs.20/- per executed order or 0.05% for derivatives or Intra-day or 0.5% for delivery of shares whichever is Lower. Detailed pricing for the same can be found on the pricing page of the SAMCO Website.

SAMCO is bound by SEBI Regulations and Exchange Compliances which require us to complete the KYC i.e. Know – Your – Customer details which require the above details as mandatory fields.

Account opening is completely FREE and no account opening charges are applicable.

You require the following documents for opening an account :

• Photograph
• PAN Card
• Bank Details – Cancelled cheque or Bank Statement/Passbook copy
• Aadhar Card (or alternative address proof such as Drivers license, Voter ID, etc)
• Proof of Income (6 months bank statement or ITR Return or 3 months salary slip)

There are no Annual Charges you need to pay for maintaining your Broking Account. However, you will need to pay an AMC of Rs. 400 per annum for your Demat account.

If you opt for our paperless account opening process, your account will be opened with 24 hours of completing the online process. You may still have to send us a couple of documents however that may not restrict your onboarding process.
In case of physical account opening - If all your documents are in order, your account will be opened within 24 hours of receiving the completed documents. Demat account takes a little bit longer but we endeavour to open the Demat account too within 48 hours.

Yes, you can transfer your existing stocks from your existing Demat account to SAMCO's Trading or Demat Account provide your existing DP accounts (outside SAMCO) are mapped with us. Fill out an instruction slip with either your SAMCO Demat Details or SAMCO Client Beneficiary Account Details and send it to your existing DP and your stocks will get transferred to the SAMCO accounts.

You can check your account opening status on our KYC Tracker.

To open an eSAMCO paperless trading account, log onto www.samco.in, enter details and your AADHAR number. An OTP will be sent to the email ID and mobile number linked to your AADHAR. Once you enter your OTP, your documents shall be digitally signed and you need not send a physical copy of all your documents.

As per Indian laws, power of attorney (for limited purposes of pay-in/pay-out and settlement obligations) and NACH mandate cannot be signed digitally and therefore will have to be signed and physically submitted. Until you submit these documents, your account shall be classified as a eSAMCO account. Only once you submit these documents, your account status shall change from eSAMCO to SAMCO.

If you do not sign and send us the documents, your account will continue to be classified as an eSAMCO account and you will be subject to the following restrictions

• Sale requests - eSAMCO account holders shall not be able to sell stocks for delivery in the cash markets without placing a “release for sell” request from SAMCO STAR. This is because since we do not have your power of attorney to move your stock from your Demat account, we cannot pay-in your shares for the purposes of exchange obligation of securities. This can result in an auction of your shares sold on account of non-delivery. Once a client places a special “release for sell” request from SAMCO STAR, that acts as an authorisation to move your stock from your DEMAT account for settlement against exchange obligation.
• No Upgrades - eSAMCO account holders cannot upgrade to CashPlus, StockPlus and IntraPlus.
• Minimum Balance - eSAMCO account holders will be required to maintain a minimum balance of Rs. 1000.

Once you send us the required documents, your account will be converted from an eSAMCO account to a normal SAMCO account and none of the restrictions as above will be applicable.

Placing a “Request for Sell” is completely FREE of COST. You can place a “release for sell” request from the SAMCO STAR from the Holdings Menu. Once you place a request, an OTP will be generated and sent to your registered email ID and mobile number which will have to be entered. Once your, OTP is validated, your request shall be sent for processing. It will take up to 30 minutes to process your request subsequent to which you shall be able to sell your stock. Please note that a request will have to be placed for each stock and requests shall be valid only for the same day. That is if stock is released and not sold, then a fresh request of “release for sell” will have to be placed on the following day. Once you submit the required documents and your account status is changed from eSAMCO to SAMCO, the above procedure will not be required to be followed.

There are no restrictions whatsoever in the trading in the Equity Derivatives (NSE-F&O), Currency Derivatives (NSE-CFX) and Commodity Derivatives segments (MCX) for a eSAMCO/SAMCO Account. This is because trading in the derivatives segment doesn’t have any implications requiring a demat account/share settlement and hence is unaffected.

No. All brokerage and expenses remain the same irrespective of whether its an eSAMCO or a SAMCO account.

You need to sign and send the documents to our office address

1004 - A Wing, 10th Floor, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013, Maharashtra, India.

When you place an order which gets traded, it is called an executed order. At SAMCO you don't pay for placing, cancelling or modifying an order, you pay only per executed order.

Whenever an order is executed through our trading terminal a call and trade charge of Rs 20 + Taxes would be levied. The order gets executed from our trading terminal when you call any one of our dealers at +91 – 22 – 2222 7777 | +91 22 - 6169 9000 and execute a trade using dealer services and in case of RMS Sqaure offs for intraday and other sqaure offs.

SAMCO doesn't charge per trade but per executed order. So even if one order gets executed in multiple trades, its considered as one executed order and charged normally at Rs. 20.

No. In case of modification, the order number remains the same as the original order and hence you shall not be charged in case you modify an existing pending order.

In case of expiry date settlement, brokerage will be applicable in case of exercised or assigned option trades. No brokerage will be applicable in case of expired options or settled futures trades.

SAMCO uses technology and processes to reduce trading costs for its customers. We try to cut out the fat that makes trading expensive which includes paper – accounting. We send all our customers digital contract notes of their trades. However, in case you insist for a copy, it is charged at Rs. 20 per copy + Applicable courier charges.

You can place a withdrawal request for your funds by logging in your back office. Once authorised, the funds will be credited to your primary bank account.

You can add additional bank accounts with your SAMCO Trading account by submitting a modification form and proof of account (cancelled cheque/bank statement/passbook copy). The modification form can be found in the downloads section of the SAMCO website.

You can change your password from the Account settings menu option.

You can change your email ID from the account settings menu in the back office – SAMCO STAR.

You can change your mobile number from the account settings menu in the back office – SAMCO STAR.

To add segments for trading download the segment addition form, sign at the highlighted boxes and send to the following address - SAMCO Securities Limited 1004 - A, Naman Midtown, Senapati Bapat Marg, Elphinstone West, Mumbai 400 013.

To add segments for trading download the DIS request form, fill the required details, sign at the highlighted boxes and send to the following address - SAMCO Securities Limited, 1004 - A, Naman Midtown, Senapati Bapat Marg, Elphinstone West, Mumbai 400 013.

SAMCO is a SEBI registered entity. As a fully compliant entity, your funds are always kept in a segregated account as per SEBI law. Your securities are held separately in your own Demat account maintained by SAMCO. You can check your account balances anytime from our Back office.

SAMCO has been in the Stock Broking business for over 20 years. SAMCO used to operate under the trade name Samruddhi until recently when it was rebranded to SAMCO to mark the next steps in our journey. We have been serving happy customers for over 20 years.

The SEBI circular on upfront margins (PDF) dated July 20, 2020 prescribed the norms for collecting upfront margins and introduced the concept of peak margins.

A peak margin was introduced to curb excessive leverage provided by some brokers, which put the entire market at risk. Previously, margins were only calculated on End of Day (EOD) positions, brokers granted clients excess leverage intraday and required them to close positions before the end of the day.

As a result of this excess leverage, SEBI required clearing corporations to take snapshots of intraday positions at least four times a day and calculate margins on these positions. According to SEBI's circular, here's an excerpt:

(i) Clearing Corporations shall send minimum 4 snapshots of client wise margin requirement to TMs/CMs for them to know the intraday margin requirement per client in each segment. The number of times snapshots need to be sent in a day may be decided by the respective Clearing Corporation depending on market timings subject to a minimum of 4 snapshots in a day. The snapshots would be randomly taken in pre-defined time windows.

Due to this, the clearing corporation today takes 4 snapshots of positions held by its clients at random intervals. Any shortfall in margin is subject to a penalty if the broker does not report available margins against the highest margin value across the 4 files. The circular explains this in detail:

(ii) The client wise margin file (MG-12113) provided by the CCs to TMs/CMs shall contain the EOD margin requirements of the client as well as the peak margin requirement of the client, across each of the intra-day snapshots.

(iii) The member shall have to report the margin collected from each client, as at EOD and peak margin collected during the day, in the following mariner:

a) EOD margin obligation of the client shall be compared with the respective client margin available with the TM/CM at EOD.


b) Peak margin obligation of the client, across the snapshots, shall be compared with respective client peak margin available with the TM/CM during the day.

Higher of the shortfall in collection of the margin obligations at (a) and (b) above, shall be considered for levying of penalty as per the extant framework.

The intention of the market regulator is undeniable, but the manner in which the circular has been implemented is not without flaws. Samco does not provide any excess leverage to clients, and always stipulates the collection of upfront margins when clients are taking positions. However, there are circumstances where the margins shoot up after clients have entered into positions, resulting in a shortfall. There is no way for a broker to control/know the margins charged by the Exchange in advance. Here are examples:

Increase in margins after EOD upon expiry of weekly contracts

As you are aware, there are weekly option contracts available for various indices: BANK NIFTY, NIFTY, and FINNIFTY. There are often instances where a client may have a hedged position, holding one leg in a weekly contract and another leg in a monthly contract. On expiry day, in the event that a client does not square off the weekly contract (expiring that day), the margins shoot up after market close. Margins are lower for the hedged position until 3:30 PM, and shoot up thereafter.

This causes a great deal of inconvenience, with the exchanges often levying unnecessary penalties due to the margin shortfall in the end-of-day file. The fact that such a shortfall is likely to occur may not immediately be apparent to a client either.

Peak margins due to lag in closing both legs of hedged position

This example is in continuation of the above point. After implementation of the peak margin framework, it is possible for a penalty to be levied despite a client having closed both legs of a hedged trade. This can happen in case the peak margin snapshot is taken at a time when one leg of the trade is closed and the other is yet to be closed.

Example:

1. Let’s assume that Client A wants to trade in F&O and transfers ₹1,00,000 to his/her trading account
2. A takes a NIFTY long position in May contract - margin blocked is ₹60,000
3. A takes a NIFTY short position in June contract - margin blocked is now ₹20,000/- (on account of the position currently being hedged; free balance in account: ₹80,000/-)
4. A takes a BANKNIFTY long position in May contract - margin blocked ₹60,000/-
5. In this case, A has fulfilled all margin requirements
6. A now closes the first leg of the NIFTY position (long May), as a result of which the total margin required in the account goes up to ₹1,20,000/-
7. The system of a trading member raises an alert and informs A of short margins
8. NSE takes a snapshot of the position at this instance and captures ₹1,20,000/- as the margin required
9. A, on receipt of an alert from the trading member, closes the other leg of NIFTY, as a result of which the margin required drops to ₹60,000/- (Since only the BANKNIFTY position is open)

In this example, an unnecessary penalty gets levied for being short on peak margins, despite the client having squared up the outstanding positions and complying with the margin requirements on an end-of-day basis.

All brokers are subject to audits by internal auditors, concurrent auditors, inspections by stock exchanges - both onsite and offsite, inspection by market regulator SEBI. As such, it is unlikely that a broker is making money by posting entries on the client’s ledger in the garb of “margin penalty”.