SAS Online Discount Broker Review

Brokerage firms perform trading operations such as buying and selling of shares for their customers. They offer various services to their customers and charge fixed rates as commission for the operations of trade performed by them for their customers Due to the rising number of new discount brokers, the competition among them has also risen. This competition has forced new startups to come up with new and better services at cheaper prices and discounts for their customers.

SAS online discount broker is one such discount brokerage firm which was first incorporated in the year of 1995. It is an online discount brokerage firm which offers services of brokerage for stocks, future and options, currency and commodities at NSE, BSE and MCX exchanges.

SAS stand for South Asian Stocks Ltd. They had started their online discount brokerage business in the month of April, 2013, currently having about 6000+ clients spread across 570+ cities of India. They are working for a daily average turnover of Rs.3500+ CR, as of the year 2015. This contribution sums up to at least 1% of the total India market turnover.

Similar to any other discount brokerage enterprise, SAS Online too functions with computerized and automated systems from a single centralized office which is located in Delhi. This way, the firm is actually leveraging on technology thereby saving plentiful on real estate, HR and other functional costs which are passed onto the clients in the form of their discount brokerage service plans. They have no account minimums or hidden costs, which makes it less costly and allows the clients to trade hassle free.

Trading platforms offered by SAS Online:

Using SAS Online, a client can trade in the following two ways;

1. NEST Trader: This is a fully functional trading platform which allows quick execution of trades with actual real time monitoring. This is a user- friendly, easy to use platform which is provided to all its customers for free. Trading operations across all segments and exchanges could be done on this single platform. It is available is desktop format, and also web and mobile formats or versions.
2. NOW Trader: This is free software provided by the National Stock Exchange which is situated in the economic hub of India, Mumbai. Using this, you can trade in equities, which includes NSE and BSE, derivatives, currency, using this one platform. Like all the other platforms, this is also available in desktop formats and also web and mobile versions or formats.

TYPES OF ACCOUNTS OFFERED BY SAS ONLINE:

SAS Online offers 4 different types of plans to suite your trading requirements;

1. Rs.9 per trade plan: This plan offered by SAS Online comes with a flat Rs.9 per trade offer irrespective of the size of the trade executed. The brokerage charges as Rs.9 per trade in other words is 0.01%. Trading using this plan is available at BSE, NSE and MCX stock exchanges in equity, commodities, and also currency derivative segments.
2. Rs.999 MCX plan: This trading plan offered by SAS Online provides an unlimited monthly trading package in commodities at MCX stock exchange for a flat price of Rs.999 per month. This plan generally suits people who have the hang of trading and are looking to perform large trades each month.
3. Rs.999 equity plan: This trading plan offers an unlimited trading package across the entire equity segment for a flat price of Rs.999 per month. Under this plan, trading is available at BSE Cash, NSE Cash and NSE F&O segment. This plan suits customers who are versed with equity trades and are looking for some big trades each month.
4. Rs.499 currency plan: This plan offers an unlimited package of trading across the entire currency derivatives segment at a flat price of Rs.499 per month. The trading operations could be performed at NSE.

Opening an account with SAS Online:

TO perform online trading with SAS Online, an investor has to open an account first. The SAS Online application form is available on the website online. The applicant has to fill in the form online and send it to the concerned authorities. After this, representatives from the office of SAS Online will contact the applicant and provide further details to create an account with the firm.

SAS Online brokerage charges:

SAS Online charge structure:

1. STT: This is charged only on the selling side for intraday and F&O trades. For the delivery trades in equity, it is charged on both selling and buying sides.
2. Service tax: These charges are charged based on the state tax laws the customer is residing in.
3. Education Cess: This is charged at 2% of the service tax to the customer.
4. Higher Education Cess: This is charged at 1% of the service tax to the customer.
5. SEBI turnover fees: This is charged at Rs.325/CR for equity, Rs.250/CR for futures, Rs.6000/CR on the premium present for options.
6. Stamp duty: These are charged to the customers based on the state the customer is residing in.

SAS Online Demat account:

A Demat account is for those traders who fear for the safety of their trades which they think is lying with their brokers. With a Demat account, this is not the cast as the shares are actually lying with NDSL or the CDSL which is under the name of the Government of India’s equities.

The charge for opening a new Demat account with SAS Online is Rs.200, which is to be paid initially. There is an annual maintenance charge for Non-Individual account which amounts to Rs.500. The transaction charges with a Demat account are Rs.9 per trade in addition the depository charges at actual.

There is also a charge for every failed or rejected transaction of Rs.30 per transaction. Also, Demat rejection charges amount to Rs.35 per rejection for every 500 grams.

Advantages of SAS Online:

1. Margin against shares is available which is not present in every other discount brokerage firm.
2. There are monthly trading plans available for trading at all the three stock exchanges, NSE, BSE and MCX.
3. Trading software including the website of SAS Online is available in desktop and mobile too and all the platforms are offered free of cost.
4. There is no minimum brokerage scheme.
5. Customers could gain 20% to 50% of the brokerage paid by them by referring SAS Online to friends and relatives. This is called the SAS Online referral program.

Disadvantages of SAS Online:

1. SAS Online doesn’t offer a 3 in 1 account unlike a few brokerage firms that do.
2. It doesn’t offer the facility to invest in IPO, FPO, mutual funds, FDs, NCDs and OFS.
3. There is a call and trade feature too but is available at an additional cost of Rs.20 per execute trade or order.

Complaints regarding SAS Online at BSE/NSE:

SAS Online, since the very beginning of the firm, has received only a very few number of complaints lodged against a share broker. In the year of 2103-14, they had about 2000 clients off which only a single complaint was received. In the year 2014-15, they had around 4000 clients off which only 9 complaints were lodged. In this year, 2015-16, they have close to about 5000 customers and only two complaints have been lodged so far. This is a very pretty record that SAS Online boasts about to its customers, and it is impressive.

Free brokerage account:

There is now a chance available to new customers to create accounts with SAS Online for free of cost. This is a limited time offer. There is no payment as account opening charges. This exists only for special visitors of Chittorgarh.com. You are to just leave your contact information with them and an SAS Online representative will contact you shortly.

Conclusion:

SAS Online, since its beginning in the year 2013, has always been well rated and great in terms of customer satisfaction. Thus, this is one of the most suitable discount brokerage firms for users across all segments. By offering cheap rates and free opening of accounts, SAS Online has captured the attention of the new generation of traders in this country.

SAS Online is very well known to be prompt in their services and in maintaining a relationship with the customer. Thus, with great rating and reviews and cheap offers and prompt services, SAS Online has a very bright future in the Indian trading world and would only get better by time.