Trade Deal-Overview of Minimum Deposit, Leverage, Spreads

General Information

Trade Deal, a trading name of Econo Broking Private Limited, presents itself as an online discount brokerage company based in India that provides its clients with its own-made trading platforms, flexible leverage up to 5 times, various tradable assets, as well as a choice of four different live account types.

Market Instruments

Trade Deal advertises that it offers an online platform to invest in all financial instruments globally, including stocks, futures, options, currencies, ETFs and bonds.

Account Types

There are four live trading accounts offered by Trade Deal, namely Trading Account (trade F&O intraday or positional), Commodity Trading Account (for the client intends to trade only in commodity), F&O Account (traders who invest only in F&O and commodity can open a trading account for free) and Trading & Demat Account (for delivery based trade). Opening a Trading Account requires the minimum initial deposit amount of Rs.100. If you want to open a Trading & Demat Account for 1 year, the amount is Rs.554 for the first year and Rs.288 annually for the succeeding years. However, if you want to open an account for 10 years, the amount is Rs. 1438 and no charges will be charged for 10 years. Note that the broker says it is no account opening charges if clients download the form from its official website, fill it up and then get it sent.

Leverage

Different trading assets are equipped with different maximum leverage ratios. In particular, the broker provides up to 5 times intraday leverage in index equity, 2 times in option shorting and futures, while there is no leverage for options buying. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Trading Platform Available

When it comes to trading platforms available,Trade Deal claims to give traders a supreme trading platform, as well as the mobile app, yet no specific name is involved. The broker says the trading platform offers powerful charts and modern approaches that traders can get access to all profit and loss statements, ledger balance, limits and more. While its mobile app is advertised as an advanced technologically and user-friendly app that can help traders to navigate and trade most conveniently on the go.

Deposit & Withdrawal

Trade Deal says the clients can deposit the amount by transferring the funds using the atom payment gateway instantly. Also, they can use RTGS/NEFT or drop in a cheque at HDFC bank. As for the processing time of withdrawal requests, if withdrawals for equity and currency are made on or before 8:00 pm, the funds will be deposited the next working day; while withdrawals are made post 8:00 pm, the funds will be deposited a day later. Likewise, withdrawals for commodities are made on or before 09:00 am, and the funds will be deposited the next day; while withdrawals are made post 9:00 am, the requests will be processed a day later.

Customer Support

Trade Deals customer support can be reached through telephone: +9107948061920, WhatsApp: +919099050416, email: help@econobroking.com, info@econobroking.com or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook, Instagram, Twitter and LinkedIn. Company address: Econo Broking Private Limited Eva-1, Office No-105, Atabhai chowk, Bhavnagar-364 002.