Monarch Networth

Monarch Networth is a full-service stockbroker, which is basically a result of the strategic amalgamation between Monarch Group of Companies and Networth Stock Broking Ltd.

Based out of Ahmedabad, Monarch Networth has its head office in Mumbai with an overall employee strength of around 660.

Let’s learn at length about this stockbroker before you take a decision to open your trading account with them.

Monarch Networth Review

Furthermore, the broker also claims to have more than 1000 business associates and around 85 branches across 325 different locations of India. Also, as of 2019, Monarch Networth has a total active client base of 44,590 implying the full-service stockbroker stacks somewhere around average in the overall industry based on its customer base.

At the same time, the full-service broker runs a strategic alliance with PNB (Punjab National Bank) for online trading solutions and this is available 2300+ offices.

This full-service stockbroker has a membership with NSE, BSE, MCX-SX, MCX and NCDEX. It allows you to trade and invest in a wide range of products including:

• Equity
• Derivative Trading
• Commodity Trading
• Currency Trading
• IPO
• Mutual Funds
• Bonds
• Fixed Deposits
• Insurance
• Depository services

As you can observe, Monarch Networth has a wide range of trading and investment products and you can pick and choose from this gamut of financial varieties.

 

 

 

 

 

 

 

Vaibhav Shah, Chairman & Managing Director – Networth Capital Limited

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Monarch Networth Trading Platforms

When it comes to trading platforms, the full-service stockbroker provides limited but in-house trading solutions to its clients. All these trading software are available for free and you can just download and install, or just directly browse from your web browser.

Let’s talk about these solutions one by one:

MNCL Mobile

The full-service broker provides you with a pretty basic mobile app called MNCL Mobile. The application is available across both Android and iOS operating systems, with the following features primarily:

• You can add scrips to multiple market watch lists and monitor the overall momentum of the selected stock via notifications and alerts.
• You get the provision to view the order book, trade book, Net position, your current holdings and reports
• Then you get detailed information about scrips and overall market movement before making your trading decision, for instance – Top gainers/losers, active market movers by volume etc.

At the same time, here are some of the concerns with this mobile app from Monarch Networth:

• A limited number of features available with a slow update frequency
• A primitive and bland user interface, which can certainly be overhauled completely
• Low usability and is difficult to use – especially for beginners
• The iOS version is a little bulky at an overall size of 18.9MB

This is how the mobile app looks like:

This is how the app is rated at the Google Play Store:

 

N-Easy

This is a browser-based web application from the full-service stockbroker.

There is no need to download or install anything and just need to visit a specific link through any web browser including Mozilla Firefox, safari, chrome or internet explorer. Once you do that, you will be required to provide valid credentials to start trading using this trading software.

Here are some of the features of N-Easy:

• You can trade across multiple segments including cash, derivatives at both BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) indices.
• You can customize some of the aspects including market watch in terms of screen size, the position with specific flexibility.
• Fund transfer facility is available with multiple banks.

To give you a 360-degree view, there are few concerns with this web application:

• This is not responsive in nature implying you are limited to a computer or a laptop in order to use N-easy and you cannot use this app on your mobile or tablet.
• Overall user design can be improved

This is how the application looks like:

N-Swift

This is a terminal-based solution where you are required to download an EXE file onto your computer or laptop. Once you do that, you need to install this software and then you can start trading.

This application provides relatively better speed and performance and at the same time, a number of features are also wider.

However, it is still bulky and you need a decent configuration of your machine in order to have a smooth trading experience, especially if you are an intra-day trader.

Some of the features this particular application provides are:

• Access to Real-Time market data streaming, live order status, Real-time position updates
• Aftermarket orders (AMO) allowed where you can place an order between 7:30 pm to 6:15 am on a business day and released the next business day.
• Personalization of features such as screen lock, dashboard, market watch, notifications etc to make your trading experience easier and smoother.

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Monarch Networth Research

When it comes to research, full-service stockbrokers including Monarch Networth provide regular tips, research reports, recommendations and analysis to its clients. There are multiple ways of communication used including phone, email and SMS/Whatsapp (primarily).

The research structure, in this case, goes as follows:

Equity Reports

• Morning Derivative Report
• Weekly Alpha
• Monthly rollover report
• Stock trends
• Fundamental research
• Derivative option strategy
• Market Outlook
• Pair trade strategy
• Long haul
• Open Active calls

Commodity & Currency Reports

• Daily FX monitor
• Daily Agri foresight
• Daily commodity radar
• COM Elite report
• Special report

Product Service Commodities

• Market Basics and fundamentals
• Product notes
• Technical and trading strategies

Here are a couple of samples of reports provided by Monarch Networth:

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Monarch Networth Customer Service

The full-service stockbroker provides the following channels of communication to their clients:

• Email
• Phone
• Offline Branches
• Toll-free number
• Webform

Primarily, the broker favours offline communication channels and has limited lines of online service. Furthermore, you might find the executives of the broker pretty aggressive in their sellings.

Honestly, that is actually a weak link instead. In our 25+ feedbacks, most of the users reported the broker support staff to be too talkative with almost no listening skills.

The customer support is generally supposed to be patient across industries with a reasonable level of listing skills and this exact point comes out as a weak point of support for this broker.

Furthermore, the turnaround time for your resolution might take a lot of time which can a frustrating experience, especially for people who are looking for quick resolutions.

In other words, customer service for Monarch Networth can be rated as below average overall.

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Monarch Networth Pricing

Pricing is certainly an important factor while deciding whether to go ahead with a particular broker or not. This helps to decide whether it is going to be a value-for-money judgment or not. In the case of full-service stockbroker such as Monarch Networth, the brokerage is charged as a specific percentage of your trade or investment value.

Nonetheless, let’s discuss pricing one by one:

Monarch Networth Account Opening Charges

Here are the details of opening and maintaining your trading and Demat accounts with Monarch Networth:

 

Monarch Networth Brokerage

As mentioned above, the full-service stockbroker charges a percentage of your trade value to calculate the brokerage for that particular trade. For instance, if you are trading at Equity delivery level and your overall trade value in order is ₹1,00,000 then you will be charged 0.3% of that value and your brokerage will be ₹300 for that particular order.

Certainly, with the advent of discount stockbrokers, paying such high brokerage charges does not make much sense.

Nonetheless, here are the brokerage details of Monarch Networth:

 

Use this Monarch Networth Brokerage Calculator for the complete calculation of all kinds of charges and your profit.

Networth Direct Transaction Charges

Apart from the charges mentioned above, you are required to pay transaction charges as well. Again, these charges are percentage-based and are calculated based on your trade value.

Here are the details in case of this full-service stockbroker:

 

Monarch Networth Margin

Moving ahead, if you are looking to rake in some extra profit, you can use the concept of exposure or leverage. With this, you can trade with a capital which is more than your trading account balance.

In a sense, you get a short-term loan from your stockbroker at a specific rate of interest and with that, you can trade at a higher scale. Here are the exposure values in the case of Monarch Networth:

 

At the same time, we would like to mention that in case you are a beginner or you don’t understand the intricacies or risks associated with exposure – then its better to avoid using it. Once you get the gist of it, then you may start employing the concept in your trades since it can be risky at times.

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Monarch Networth Advantages

Let’s talk about some of the top merits of Monarch Networth as a full-service broker and what values would you get by using its services:

• A wide range of trading and investment products
• Reasonable brokerage within the full-service broking context
• Free AMC (Annual maintenance charges) across your stay with the broker
• Research is around average in performance
• Provides free call and trade facility

Monarch Networth Disadvantages

At the same time, you have to deal with some of the negatives while using the services of this stockbroker:

• Trading platforms (mobile app, terminal software, web application) in be improved in terms of usability, speed, and overall user experience.
• Customer support must have regular training sessions to maintain professionalism across calls
• Limited exposure values
• The broker seems to have its focus primarily on an offline line. It certainly needs to focus, gradually, on the online channels as well.

How to open an Account?

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You need to provide a 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
4. Passport-sized photograph
5. AMC fees (if applicable)
6. Trading Account cheque

Once you are done with this, your account gets opened within 4-5 business days.

For more information, you can check this detailed review of documents required for demat account.

Monarch Networth Membership Information

Here are the details of different licenses the broker has attained through various stock market entities:

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Monarch Networth Branches

The full-service stockbroker is present in the following locations in India:

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More on Monarch Networth:

If you wish to learn more about this full-service broker, here are a few reference links for you: