F6 Online

F6 Online is a recent addition to the Discount Stockbroking fraternity in India. This Gurgaon based stockbroker was established within discount broking space in 2014 while its roots go back to 2007.

F6 Online Review

---

F6 Online has recently been involved in controversies related to their client funds & is most likely a busted broker.

Trader discretion is recommended.

---

It is backed by F6 Finserve Private Limited and F6 Commodities Private Limited and allows its customers to trade at a fixed monthly or yearly price in the following segments:

• Equity
• Derivatives
• Depository
• Commodity
• Currency

---

“In total F6 Online has 1776 active clients by January 2017.”

---

As of now, F6 Online has a presence in 6 major cities of India including Delhi/NCR, Mumbai, Bangalore, Ahmedabad, Kolkata and Bhubaneswar with headquarters in Gurugram, Haryana.

 

 

 

 

 

 

Pankaj Goel, Managing Director – F6 Online

इस विश्लेषण को हिन्दी में पढ़ें

Trading Platforms

In this F6Online Review, we will be covering all the trading platforms offered by the stockbroker in length along with few images to demonstrate how these trading platforms look.

Live F6 Online

F6 Online provides a browser-based trading platform that can be accessed from any laptop, desktop, mobile or tablet. The user just needs to enter his/her login credentials and can start trading from there. Some of the top features this cloud-based trading platform has been:

• Trading from multiple windows such as Order Book, Trade Book, Net Position possible
• Get Trading limits in real time by just uploading your bank deposit receipt
• Set alerts on price and volume and get notifications through Emails, pop-ups within the platform and SMS
• Access charting tools, get real-time news and tweets on what is hot in the stock market
• Personalized themes and layouts and get a look and feel of the interface as per your preferences

You can also create a demo account on F6 Online to get an idea of how the trading platform works. Visit this link to create a demo account.

F6 Online Mobile App

F6 Online Mobile app is pretty much on the similar lines of the web trading platform in terms of the features. Users can trade in stocks, futures, options and forex investments. The mobile app provides prominent features such as:

• Live streaming of prices pulled from major indices
• Market watch
• Setting watchlists as per the client’s preferences
• Uploading relevant documents allowed through the mobile app to increase your trading limit

The mobile app is available in both Android as well as iOS platforms. Here are some of the screenshots of the mobile app:

This is how the mobile app of F6 Online is rated at the Google Play Store:

 

Here is the demo video of the app:

Apart from the above mentioned in-house developed trading platforms, you can also choose the following trading platforms for your trading:

• ODIN Diet – a terminal-based trading application
• NSE Now – browser-based software.

---

“It is advised that you have a detailed discussion whether they charge for use of any of the two mentioned trading platforms as some stock brokers charge for usage of ODIN Diet at times.” 

---

The problem with outsourced softwares is that even though clients provide feedback or comment to improve or add a specific feature, brokers such as F6 Online cannot do much about it.

The reason is simple.

The control of software maintenance is not in their hands. The best they will do is transfer your feedback to the concerned development team and that is pretty much it.

F6 Online Customer Service

The discount broker provides you with the following touchpoints to provide service:

• Toll-Free Number
• Email
• Web Form
• Web Chat
• Social Media

The customer executives of F6 Online will call you, email you as long as you are looking to open a trading account with the broker, however, this communication frequency hits a rock when it comes to dealing with the clients. The huge turnaround time is one of the biggest concerns.

One channel they do reasonably well in is the Google Play Store where the queries of the mobile app users are given personalized attention and messaging. However, again here the turnaround time can certainly be improved to few hours rather than the current few days.

F6 Online Charges

F6 Online Account Opening Fees

F6 Online is one of those rare brokers who are very aggressive in terms of increasing their customer base. There are no account opening charges. Here are the details:

 

F6 Online Brokerage

F6 Online has fixed subscription plans at monthly and yearly levels. Clients can trade across Commodity or Equity segments without any cap on the number of transactions done in that particular duration. Here are the charges explained:

 

Clients can do unlimited trading in both the segments at a reduced price of ₹9999 for a year i.e. a 50% discount.

F6 Online Transaction Charges

As you know, that users are required to pay transaction charges and some taxes along with the brokerage charges. For F6 Online, here are the values listed:

Equity Transaction Charges:

 

Looking at the values above, the transaction charges levied by the discount broker seem to be pretty high as compared to other discount stock brokers. Thus, make sure you do some maths before finalizing F6 Online as your broker. Because at the end of the day, transaction charges are very much part of the overall payment that you need to shell out of your pockets.

F6 Online Margin

Here are the margins provided by F6 Online:

 

Disadvantages of F6 Online

Here are some of the concerns if you go ahead with this discount stockbroker for your trading:

1. Relatively a fresh entrant, less trust factor
2. Pricing plans seem a little rigid too. Although fit well with heavy traders
3. The turnaround time of the customer service can be improved.
4. A high percentage of complaints received.

---

“F6 Online has received 21 complaints from its client base with a complaint percentage of 1.31%. To give you a perspective, the Industry standard is 0.15%.

Thus, F6 Online is easily one of the most complaints against stock brokers in India.”

---

Advantages of F6 Online

At the same time, here are some of the positives of using their services:

1. Fixed monthly brokerage plans work best for heavy traders
2. No hidden costs, no annual maintenance charges and no account opening charges
3. Decent mobile application for trading.

---

How to open a Demat and Trading account?

Enter Your Details here and get a FREE call back.

 

Next Steps:

Post this call, You need to provide few documents to start your account opening process. The documents required are as follows:

1. ID Proof
2. An address proof
3. Bank statement for the last 6 months, cancelled cheque
4. Passport sized photograph
5. AMC fees (if applicable)
6. Trading Account cheque

Once you are done with this, your account gets opened within 2-3 business days.

Check out the comparison of F6 Online Vs Other Stockbrokers here:

 

More on F6 Online: