Nirmal Bang

Launched in 1986, Nirmal Bang is one of the prominent full-service stockbrokers in India. The broker operates in multiple business capacities and has partnerships with different stakeholders.

In this detailed review, we will have a look at the various aspects of this stockbroker and help you to decide whether it is a good enough choice for your investment needs or not.

Nirmal Bang Review

To start with, Nirmal Bang has a membership with NSE (National Stock Exchange), BSE (Bombay Stock Exchange), MCX (Multi Commodity Exchange of India Limited), MCX-SX (Metropolitan Stock Exchange Of India) and NCDEX (National Commodity & Derivatives Exchange Limited) and allows its clients to trade in the following segments:

• Equity
• Derivative Trading
• Currency Trading
• Commodity Trading
• IPO
• Insurance
• Institutional Broking
• Depository services
• Mutual Funds

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The full-service stockbroker has an active client base of 93,787, putting the stockbroker at the 17th Spot in the overall stockbroking space in India.

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Nirmal Bang is also in Margin funding and PMS (Portfolio management services) along with the retail broking services in the segments mentioned above. The stockbroker is known for its customer service and high client retention rate as per the records.

Based out of Mumbai, Nirmal Bang has a presence in 360 cities of the country with more than 2000 franchises. If you are interested to be a partner, you can check the details on how to proceed in this Nirmal Bang Franchise review.

It also has a monthly magazine called ‘Beyond Market’ available online for free for all. Users just need to browse a link and it can directly be downloaded from there.

 

 

 

 

 

 

 

From (L-R): Dilip Bang (Co-founder & Director,), Kishore Bang (Co-founder & Director)

Nirmal Bang Trading Platforms

Nirmal Bang provides a mix of in-house and out-sourced trading platforms to its clients. Although there is a reasonable range of these trading platforms offered, there is winner sort of a trading platform that has been able to gain any prominence.

To access these trading apps, it is essential to have a Nirmal Bang Demat Account.

Thus, from the technology perspective, Nirmal Bang certainly needs to pull up its socks and come out as a higher technology-enabled stock broking company.

Nonetheless, let’s talk about these trading applications:

ODIN Diet

ODIN Diet is the conventional trading terminal that users can download, install and connect directly with Nirmal Bang to start trading. Since its a lightweight application, the trading experience is pretty efficient and smooth. Some of the features the ODIN Diet software carries are:

• Data from multiple exchanges available on a real-time basis
• Customizable UI themes with personalized views available
• Easy fund management with payment gateway, fund allocation and withdrawal features
• Real-time quotes with provision to directly place orders

This is how this application looks like:

NB Trade

Nirmal Bang trade is the web-based trading platform that users can access by browsing a link, entering valid login credentials and start trading without any downloads or installs. This application is obviously much less cumbersome and can be accessed from anywhere.

Users can trade in any of the segments including Equity, Currency, Commodity or Derivatives.

Some of the features of this application include:

• Lightweight web trading application
• Watchlists with multiple scrips
• Heatmaps allowed for easier technical analysis
• Charts available for a detailed understanding of the stock market momentum

However, if you are an intermediate to an expert level trader, you might find the application to be relatively basic in nature in terms of the number of features and trading experience.

Nirmal Bang Mobile Trading

Beyond is the mobile trading application from Nirmal Bang which has been developed and maintained internally by the full-service stockbrokers’ technical team.

Some of the features of this mobile app are:

• Interactive design and navigation making life easy for traders
• Market watch feature with multi-exchange streaming
• Fund transfer provision with more than 25 prominent banks of the country
• Live market reports, intra-day charts and news & research section

Here are some of the screenshots of the Beyond mobile app:

Here are some of the stats about this mobile application are shown below (taken from Google Play Store):

 

At the same time, here are a few concerns raised by the clients of this full-service stockbroker, as far as this mobile trading app is concerned:

• Login related issues reported multiple times
• Research reports not available in the mobile app
• The user experience of the app can be improved, especially for beginner level traders.

Nirmal Bang BO (Back Office)

This mobile app is for the registered clients to check out the following information related to their account:

• Weekly, Monthly, Yearly or custom period snapshot
• Financial statements and reports
• Notional Cash and Derivative segment

This is how Nirmal Bang BO looks like:

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Nirmal Bang Customer Care

As far as customer support is concerned, here are the communication channels provided to the clients of this stockbroker:

• Phone
• Email
• Fax
• Offline Branches
• Whatsapp
• Support Portal

With multiple channels to get in touch with the support staff of the full-service stockbroker here, Nirmal Bang has certainly taken care of the quantity part for certain. A dedicated portal just for customer support gives a reasonable idea of the kind of quality that the broker looks to bring in this aspect.

However, there is a lot that can be done in terms of the turnaround time of the concerns raised by the clients. Overall, it can be rated slightly better than average.

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Nirmal Bang Research

Research is one strong pillar when it comes to the propositions Nirmal bang offers via its service. Some of the different types of reports at both fundamental and technical level (across different trading segments) are shown below:

• Equity
  • Price Analysis
  • Volume Analysis
  • Index Analysis
  • News Analysis
  • Corporate Action
  • India Market
• Derivatives
  • Market Updates
  • Market Report
• IPOs
  • IPO Issues
  • Performance
  • News and Analysis
• Mutual Funds
  • MF Updates
  • MF Trends
• Commodities
  • Markets Movers
  • News Commentary

As far as the accuracy and consistency of these tips and recommendations are concerned, the overall quality is pretty good and can be trusted. It can be a good benchmark for you if you are a beginner level trader to use these tips with some bit of analysis on your own.

At the same time, if you are an expert level trader, these tips can work as a reference for the stock market momentum so that you can carry forward your analysis in the right direction.

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Nirmal Bang Pricing

Being a full-service stockbroker, Nirmal Bang is going to be relatively expensive in your pockets – especially if you start comparing such brokers with discount stockbrokers.

Nirmal Bang Account Opening Charges

Here are the account opening charges levied by this broker:

 

Nirmal Bang Brokerage

Nirmal Bang has been reasonably nominal in terms of its brokerage as compared to other full-service stock brokers in India. Here are the details:

 

Use this Nirmal Bang Brokerage Calculator for complete charges and your profit

Nirmal Bang Transaction Charges

Apart from the brokerage charges, account opening charges and Annual maintenance charges (AMC), clients need to bear transaction charges as well. For this full-service broker, these charges are listed below:

 

Nirmal Bang Margin

To make life easier for its clients, the stockbroker provides the following margins to its clients:

 

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Nirmal Bang Disadvantages

If you are looking to open your trading account with the full-service stockbroker, here are some of the concerns you must be aware of:

1. Since Nirmal Bang does not provide a 3-in-1 account, instant fund transfer is not available
2. Separate charges for charting and technical analysis tools
3. NRI Trading not allowed
4. Trading platforms have no support for Mac or iOs

Nirmal Bang Advantages

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

1. Brokerage charges are still negotiable to an extent
2. Free access to the monthly magazine ‘Beyond Market’
3. Recent movements towards technology advancements in their trading platforms
4. Free Call and Trade facility

Looking to open an account? Provide your details below to get a callback:

 

You can also check out these comparisons of Nirmal Bang Vs Other Stock Brokers here:

 

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Nirmal Bang Branches

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

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More on Nirmal Bang:

If you are looking to know more about this full-service stockbroker, here are a few reference links for you: