Geojit Review

Category: Reviews | Author: Trading Brokers | Date: October 16, 2023

Established in 1987 by C.J. George, Geojit stands as a prominent player in the Indian financial services sector, with a diverse offering encompassing stock trading, portfolio management, mutual funds, life insurance, and more. With a robust presence extending to the Gulf region, Geojit holds membership with the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) and operates under the watchful eye of the Securities and Exchange Board of India (SEBI). In the following sections, we will delve into Geojit’s regulatory framework, explore its range of platforms and tools, evaluate its educational resources, dissect the markets it covers, examine account options, and take a closer look at the available funding methods. Additionally, we’ll consider both the advantages and disadvantages of engaging in trading activities with Geojit.

Pros & Cons

  • User-friendly platforms and tools
  • Portfolio management services Ethical portfolio Educational resources and initiatives
  • Wide range of markets and instruments
  • High brokerage charges compared to discount brokers
  • No credit/debit card, e-wallets, or crypto funding options
  • Conflict of interest as a market maker broker

Summary

Geojit Review

Geojit Review

Geojit stands as a notable financial services provider in India, boasting a diverse array of offerings, including stock trading, portfolio management, mutual funds, and life insurance. Since its establishment in 1987, Geojit has also made its presence felt in the Gulf region. Committed to regulatory standards, it operates under the oversight of SEBI and holds membership in NSE and BSE.

Geojit takes pride in furnishing customers with a robust suite of platforms and tools designed to facilitate their trading and investment endeavors. The company goes beyond transactional services by fostering knowledge and skill development through initiatives like Geojit Academy, Geojit Insights, Geojit Events, and the Geojit Knowledge Series.

A wide range of markets and instruments is at the disposal of Geojit’s customers, including equities, derivatives, currency futures, DP accounts, commodities, and mutual funds. The company also ensures that traders and investors have convenient funding options like margin trading funding (MTF), margin funding trading (MFT), and funds transfer.

While Geojit does apply a commission or brokerage fee for stock market transactions, it refrains from imposing a spread in the cash segment. However, it may incorporate a spread for derivative segment trading, with the precise rate contingent on factors such as instrument type, market segment, volatility, and liquidity.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Geojit operates as a duly regulated financial services company within India’s intricate financial landscape, boasting affiliations with the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Beyond these affiliations, Geojit operates under the watchful eye of the Securities and Exchange Board of India (SEBI), the nation’s regulatory authority responsible for maintaining the integrity and safeguarding the interests of the securities market.

In line with SEBI’s stringent directives, Geojit diligently adheres to the regulatory framework established for investor protection, market fairness, and ethical conduct. The company also meticulously complies with anti-money laundering and know-your-customer norms, as mandated not only by SEBI but also by other pertinent authorities. To fortify its commitment to regulatory compliance, Geojit has implemented a robust risk management system and maintains a dedicated compliance team, ensuring unwavering adherence to all regulatory requisites. In a spirit of transparency and accountability, Geojit makes comprehensive financial statements, shareholding patterns, policies, and other pertinent information readily available on its website, serving the best interests of both its valued customers and stakeholders. Should you seek alternative options, we recommend exploring a list of regulated brokers for your consideration.

Platforms & Tools

Geojit extends a diverse array of platforms and tools designed to cater to the distinctive trading and investment needs of its clientele. Among these, notable offerings include:

  • Flip Mobile: A cutting-edge mobile trading platform, it furnishes users with a seamless experience through its user-friendly interface, real-time market data, advanced security measures, charting capabilities, and a suite of indispensable tools for pursuing financial objectives.
  • SELFIE: This advanced trading platform stands out for its customization options, allowing customers to tailor it to their preferences. Available across devices as SELFIE Platinum, SELFIE Web, and SELFIE Mobile, it boasts an integrated security system, advanced charting tools, and ensures a smooth trading experience.
  • TraderX: A dedicated platform for F&O trading enthusiasts, TraderX comes equipped with features like options chains with greeks, one-click strategy orders, OI analysis, and advanced pay-off analysis, serving the specialized needs of this trading segment.
  • OptionsLab: A valuable tool enabling customers to evaluate their trading strategies and gauge profitability before committing funds. It facilitates backtesting of options strategies using historical data.
  • Smartfolios: This platform offers expert-curated baskets of stocks, assisting customers in making investment decisions aligned with their financial goals and risk tolerance. It harnesses data-driven algorithms to construct optimal portfolios for various risk profiles.
  • FundsGenie: Focused on mutual fund investments, FundsGenie empowers customers with personalized recommendations, portfolio tracking, and online transaction capabilities, streamlining the mutual fund investment process.
  • STEPS: A financial planning tool, STEPS conducts a comprehensive analysis of a customer’s financial health, presenting objective solutions aligned with their financial aspirations, helping pave the path to wealth creation and financial security.

These platforms and tools collectively demonstrate Geojit’s commitment to providing an array of resources to cater to the diverse needs of its customer base.

Education

Geojit is unwavering in its commitment to fostering financial literacy and awareness among its customers and the broader public, offering an array of educational resources and initiatives that include:

  • Geojit Academy: An expansive platform featuring online courses, webinars, videos, podcasts, and articles covering a wide spectrum of financial topics. Tailored to cater to beginners, intermediates, and advanced learners, these resources delve into subjects such as the fundamentals of the stock market, technical and fundamental analysis, derivatives, mutual funds, and more.
  • Geojit Insights: A valuable repository of research reports, newsletters, blogs, and market updates meticulously crafted by Geojit’s in-house research team. These reports provide analytical insights, recommendations, and outlooks across various segments of the financial markets, including stocks, sectors, indices, commodities, and currencies.
  • Geojit Events: A platform that facilitates informative events and seminars held both in India and internationally. These gatherings serve as opportunities for engaging with customers and the public on topics spanning market outlooks, investment opportunities, portfolio management, wealth creation, and more.
  • Geojit Knowledge Series: An assortment of books produced by Geojit in collaboration with renowned publishers like McGraw Hill Education and Vision Books. Authored by experts in the field of finance and investing, these books offer pragmatic guidance and insights into various facets of the financial markets.

These educational resources and initiatives underscore Geojit’s commitment to empowering investors and traders with the knowledge and understanding needed to make informed decisions within the financial markets.

Markets

Geojit extends a broad spectrum of markets and instruments to cater to the diverse trading and investment preferences of its customers, including:

  • Equities: Customers can engage in trading within the cash segment of the Indian stock market, encompassing both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This allows for the buying and selling of shares from a variety of listed companies, offering potential benefits from price fluctuations and dividends. Geojit further facilitates equity trading with intraday, BTST (Buy Today Sell Tomorrow), and MFT (Margin Funding Trading) facilities.
  • Derivatives: Geojit empowers customers to participate in the futures and options segment of the NSE, enabling them to employ derivatives for risk management, market speculation, or strategy formulation. This includes trading in equity derivatives, index derivatives, and currency derivatives.
  • Currency Futures: Customers have the opportunity to trade in the currency futures segment of the NSE, using currency futures to mitigate foreign exchange-related risks or seize arbitrage opportunities. Geojit offers trading in four prominent currency pairs: USD-INR, EUR-INR, GBP-INR, and JPY-INR.
  • Commodities: Geojit opens the door to the commodities segment of the Multi Commodity Exchange (MCX), allowing customers to diversify their portfolios, manage risks, or speculate on price movements. The range of tradable commodities spans gold, silver, crude oil, natural gas, copper, and more.
  • Mutual Funds: Through the FundsGenie platform, Geojit facilitates the analysis and investment in mutual funds, aligning with customers’ financial goals. FundsGenie extends personalized recommendations, portfolio tracking, and online transactions for various mutual fund schemes across categories, encompassing equity, debt, hybrid, and more.
  • DP Accounts: Serving as a depository participant (DP) for both NSDL and CDSL, Geojit provides customers with the means to hold securities in electronic form. DP accounts enable various services including dematerialization, rematerialization, transfer, and pledging, enhancing the convenience of managing securities.

These markets and instruments, thoughtfully offered by Geojit, are designed to accommodate the varied needs and preferences of investors and traders, providing a comprehensive range of options for financial market engagement.

Accounts

Geojit offers a diverse range of account types meticulously designed to cater to the distinct trading and investment requirements of its customers, including:

  • Trading Account: A pivotal gateway that empowers customers to engage in buying and selling securities within the stock market. Geojit extends trading accounts tailored for equities, derivatives, currency futures, and commodities. The process of opening a trading account with Geojit can be conveniently executed online or offline, entailing the completion of an application form and the submission of requisite documents. For the convenience of its customers, Geojit applies a nominal account opening fee and an annual maintenance fee to its trading accounts.
  • Demat Account: Serving as a secure repository for securities in electronic form, the demat account plays a crucial role in modern investing. Geojit operates as a depository participant (DP) for both NSDL and CDSL, India’s two prominent depositories entrusted with safeguarding electronic securities. Customers can opt to open a demat account with Geojit, availing an array of services, including dematerialization, rematerialization, transfer, and pledge, among others. Geojit’s approach to demat accounts entails a nominal account opening fee and an annual maintenance fee.
  • Portfolio Management Services Account (PMS): For customers seeking to delegate their investment decisions to professional fund managers, Geojit offers portfolio management services (PMS). Geojit’s range of PMS schemes caters to various risk profiles and investment objectives. Additionally, Geojit provides an ethical portfolio option, an open-ended multi-cap PMS that invests in companies engaged in ethical businesses.

These accounts, thoughtfully offered by Geojit, cater to the diverse needs of its customers while maintaining transparency through nominal fees, ensuring accessibility and convenience for all investors and traders.

Funding

Geojit offers a range of funding options aimed at facilitating the trading and investment endeavors of its customers, including:

  • NEFT/RTGS/IMPS: You can transfer funds electronically from your bank account to your Geojit trading account using NEFT, RTGS, or IMPS. This is a quick and efficient method for funding your account.
  • UPI: Geojit also supports UPI (Unified Payments Interface) for transferring funds to your trading account. UPI is a real-time interbank electronic fund transfer service that allows you to transfer money instantly using a mobile number or a virtual payment address.
  • Cheque Deposit: You can fund your account by depositing a cheque. The funds will be credited to your account once the cheque is cleared.

These are the primary methods for funding your Geojit trading account. It’s important to note that cash deposits are not accepted as a funding method.

Conclusion

In conclusion, Geojit stands as a reputable financial services provider in India and the Gulf region, offering a diverse array of services, educational resources, and access to various financial markets and instruments. With a commitment to transparency and customer empowerment, Geojit continues to facilitate the financial goals of its clientele. However, it’s worth noting that while Geojit offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. It’s prudent for investors and traders to explore a variety of choices to align with their specific preferences and requirements. For additional choices, we encourage you to explore our trading broker reviews.

Geojit Logo

Rs 10

Geojit is a leading financial services company in India, offering a range of products and services such as stock trading, portfolio management, mutual funds, life insurance, and more. It has a strong presence in the Gulf region as well.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


About the Author

trading brokers logo

Trading Brokers
Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.


Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.