Espresso Review – Charges, Trading Platforms, Demat Account, Offers & more

Know everything about Espresso Review here. Espresso is an online discount trading platform provided by Sharekhan.

Sharekhan is a leading brokerage firm in India and a subsidiary of BNP Paribas. This article will give a detailed espresso review covering various services, features, tools, and charges.

The current trend in India has seen several discount brokerage platforms. These are mainly distinguished by a very low brokerage and other charges.

Among these, Espresso is easily one of the best we currently have.

Why Trade or Invest with Espresso?

There are many benefits you get by having an espresso account. Let us discuss the benefits of trading and investing in Espresso:

• Espresso provides you with a no-cost training module known as Bootcamp. You can access this anytime and from anywhere after opening an Espresso account.
• Espresso provides the benefit of saving brokerage on loss-making trades. You will not be charged any brokerage on a sell order if it is a loss-making trade.
• If you are low on funds, Espresso offers attractive leverage. If you add a stop-loss in your trades, you can get even higher leverage for certain instruments.
• Espresso experts’ writers regularly publish beneficial articles for retail traders and investors.
• The espresso trading platform can be accessed easily anywhere and anytime using the mobile app, website, or desktop application.

As we are reviewing a discount brokerage platform, it is very important to discuss espresso brokerage charges.

Espresso charges flat Rs.20 on all intraday, options, futures, and currency trades. There is no brokerage on equity delivery trades. Espresso also has a no brokerage on loss-making trades option.

For example, if you have made an intraday trade, in a typical scenario Rs.20 will be charged as brokerage on both buy and sell orders.

But if this is a loss-making trade, the brokerage of the sell order will not be charged.

Espresso Calculator

Calculate Brokerage Charges of Espresso.

How to Open Espresso Demat Account?

If you want to open an espresso demat account, you must first go to the section below and fill out your details.

After that, a representative from Espresso will connect with you and guide you to complete the process.

You will also need some documents which are mandatory for opening an account.

These documents are PAN card, photo id proof, address proof, income proof, bank account proof, and photographs.

You can complete the account opening process online by uploading the pdf of your documents.

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Espresso review should also provide details of various types of applications and tools to assist retail traders.

For the ease and benefit of their users, they have a dedicated Android app and an iOS app, which you can access from any of your Android and Apple devices, like mobiles or tablets.

They also have a desktop app that you can install on your laptop or desktop for easy access. Apart from these, you can access your account directly from their website using any internet browser.

Before choosing a brokerage firm, a trader or investor should be aware of many features of various espresso apps, trading platforms, and tools.

Espresso provides you with apps for Android, iOS, and desktop; on top of these, you can access the platform directly from their website.

Espresso App

We are listing some of the features related to the Espresso App:

Synchronized Watchlist: No matter where you are accessing the trading platform, any change to your watchlist will be updated across all platforms.

You don’t have to have a separate watchlist for mobile, desktop, and website terminals.

Alert Tools: You can add multiple alerts, not just price alerts. So that you are notified of changes that can move the prices of any stock in a particular direction.

Free Scanners: A common problem for traders is finding the stocks to trade. With the scanners available in Espresso app, you can find stocks that fulfill your strategy’s criteria in one go.

Quick Order Placement: Espresso provides easy order placement even in their mobile apps. They have focused on making the trader make an order in the least number of clicks.

This is especially beneficial for intraday traders who use scalping techniques, as they must place orders quickly.

High-Quality Charts: Espresso provides detailed real-time charts in their apps; you can have varied styles, from the candlestick to line chart or others.

Real-time Updates: The apps provide a hundred percent correct real-time data of all stock indices, options, futures, etc.

In addition to that, scanners and alerts make sure that you are aware of developing opportunities in real time.

Indicators: Espresso has an extensive library of indicators for traders and investors who use technical analysis to make their buy or sell decisions.

From trend indicators like moving averages to oscillators like RSI to support and resistance indicators like pivot points, you will have access to many indicators without extra cost.

Secure and Stable: Although this doesn’t cross the mind of a retail trader, the security and stability of your trading platform should be a prime concern, no matter what.

Imagine if you have bought a stock, and you determine that the trend might reverse and you should get out, but at that time, the app crashes, and you might end up with huge losses.

Also, the app should have high security so no one else can access your account without your permission.

Binge

It is one of the desktop trading platforms that is specially designed for experienced traders. The platform showcases charts, market scanners, regular feeds, and tools for pro traders to trade conveniently.

Let’s have a look at some of the features related to Binge:

• The platform offers a watch list to help you with price-based signals and price updation.
• Binge helps in monitoring the performance of multiple stocks at different periods.
• With Binge placing an order is free and quick.
• Split-order functionality is also available.

MyEspresso Web Trading Platform

The web trading platform has a lot of functionalities that are easy to use and allows any beginner or experienced trader to use it as per his requirements.

Let’s have a look at some of its unique features:

• Provides detailed reports like tax reports, portfolio reports, EoD reports, etc., to the clients to have a clear view of their investments.
• No-cost GTD orders can be placed.
• Order window can be accessed for investing and trading, and an auto margin calculator is also available.
• Multiple watch lists can be created.

Now let us discuss various things that Espresso offers to its customers:

• Espresso offers flat brokerage to all its customers
• It offers zero brokerage on delivery transactions in the equity segment.
• It offers zero brokerage on loss-making trades, i.e., if you buy something and sell it at a loss, you will have zero brokerage on the sell order.
• It also offers a referral offer to its client.

Espresso SWOT Analysis

We have performed a SWOT analysis for the Espresso broker:

Strength

• Espresso is backed by Sharekhan Group, an experienced full-fledged retail brokerage firm operating in India for multiple years. BNP Paribas and an international banking firm back Sharekhan itself.
• Espresso has multiple unique features, like no brokerage for loss-making trades, thus giving them an edge over other discount brokers.
• Espresso has access to an already existing large customer base of Sharekhan
• Espresso has been acknowledged by prominent economic and business publications in India with positive reviews
• They enable users to trade in all segments provided by other discount brokers in India

Weakness

• Lack of analysis, tips, and advice for traders and investors through their platform.
• Espresso do not provide 3-in-1 account services.
• Call and Trade is only available on payment of 50 INR for every order.

Opportunity

• They should penetrate in NRI services to expand their client base.
• Should include digital gold investments and Algo trading platform to give their clientele more options for investment.
• Can launch their portfolio management services and PCG services.

Threats

• No free reports are available with the Espresso. Only technical reports are provided on payment. Should include a few reports free of cost for beginners to motivate them.
• Espresso charges 350 INR for account opening charges and 400 INR for AMC from the first year onwards can push a huge clientele to other brokers as these services are usually available at discounted price and, at times, at no cost.
• Brokerage industry is getting more competitive with every passing day.

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If you open an espresso trading account, you will have multiple tools to conduct your Research:

• You have live and accurate charts which you can customize as needed.
• You have multiple technical indicators for doing technical analysis.
• You have a no-cost scanner, which you can use to filter out stocks as per your criteria
• Company experts provide no research.

We shall now discuss the espresso margin and leverage they provide to the customers:

• In equity delivery trades 1X margin is provided
• In intraday, equity margin is up to 5 times
• In F&O trades that are not intraday, the margin is 1X
• For intraday F&O margin is 1.3X
• For any type of currency F&O margin of 1x is there

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Let’s look at various ways a client can contact Espresso customer care:

• You can have a dedicated dealer and trading support, but these are both chargeable separately
• You can call customer support at 022-67670700
• They can also be contacted via email on [email protected]
• You can also contact them using their social media handles

We have also analyzed their responses to espresso complaints filed and their response to these complaints:

• Out of 4 complaints that were filled, all of them received a response from their team
• From these three complaints were resolved entirely, to the satisfaction of the customers
• One complaint did not have an immediate solution for no company fault.

Espresso Charges

Let’s have a look at the various charges which customer bear. These include Espresso account opening charges, other charges, and espresso hidden charges:

• The account opening charges are Rs.350, and an annual account maintenance charge of Rs.400 per year.
• Other charges are STT (ranging from 0.01% to 0.1%), CTT (ranging from 0.01% to 0.1%), Stamp Duty (ranging from 0.0001% to 0.015%), and Transaction charges (ranging from 0.0005% to 0.05%) these are determined by the government, regulatory authorities, and exchanges and are generally out of control of brokerage firm.
• Hidden charges are SEBI turnover charges, DP charges, GST, Dematerialisation charges, and Call & trade charges

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Espresso Conclusion

In conclusion of the espresso review, we would like to summarize some crucial details. This discount brokerage firm provides a flat brokerage plan to all its customers.

The brokerage is further reduced on loss-making trades. It allows you to trade in almost all segments of the Indian market.

From account opening to trading, after services, all are mostly online. They provide feature-packed apps for mobiles and desktops and can be accessed through their website.

FAQs on Espresso Broker review

Here is the list of FAQs related to the Espresso broker review:

Is Espresso a Safe Broker?

Yes, it is a very safe broker; their parent company Sharekhan has a long safety track record.

Is Espresso Good for Beginners?

Yes, their boot camp feature is a perfect knowledge base for theoretical and practical knowledge.

How many active clients does Espresso have?

As of March 2023, it had close to 1 lakh active clients, rapidly growing since its start.

Who is the Founder of Espresso?

Sharekhan and Mr. R Kalyanaraman, the CEO of the espresso discount brokerage firm, started it.

Does Espresso provide Free Delivery Trading?

Equity delivery trades is free, but other charges, like STT, stamp duty, etc., are still levied.

What are Intraday Trading Charges for Espresso?

In intraday trading, you must pay Rs.20 as brokerage on each order plus other charges, but on loss-making trades, the brokerage of the sell order is waived.

What are Espresso F&O Charges?

For F&O trades, the brokerage is the same for intraday and carries forward trades of all segments, i.e., Rs. 20 per order. But other charges vary depending on the segment and the trade type.

Does Espresso charge for Commodity Trading?

Yes, the brokerage is charged for commodity trading for both intraday and carry-forward trades; in addition to that, there are other charges like STT, etc.

Does Espresso charge for Currency Trading?

Yes, the brokerage is charged for currency trading for both intraday and carry-forward trades; you can only trade currency F&O, though.

Does Espresso provide Research?

No research is provided to the client, but they provide all the necessary tools to help you do your Research.

How to contact Espresso Customer Care?

You can contact their customer care via phone, email, and social media handles. We have already provided the details in the article.

How much is AMC in Espresso?

Espresso charges annual account maintenance fees from all clients. As the name suggests, one must pay this annually.

What are Account Opening Fees in Espresso?

Espresso has offered free account openings on various occasions, but these offers are only for a limited time; they charge Rs. 350 at all other times.

What are Pledge Creation Charges in Espresso?

The pledge creation charges for Espresso are comparable to most discount brokers; they charge Rs. 30 for the creation.

How much are Pledge Invocation Fees in Espresso?

In Espresso, unlike pledge creation fees of Rs.30, no specific amount is levied for the invocation of a pledge by the client.

Does Espresso levy any Interest on Margin Trade Funding?

Yes, Espresso has a set percentage of interest rate it charges for margin trades daily from the customer. It is 0.07% daily.

What are DP Charges for Espresso?

DP charges are levied only on sell orders and come under hidden charges. As mentioned earlier, they are Rs.13.5 per scrip on sell.

Does Espresso levy any Account Closure Fees?

No, the broker charges only account opening fees and annual maintenance fees from the client; if there is no outstanding due client can close the account easily.

What are Account Reactivation Fees in Espresso?

To reactivate your account, you have to call customer care and re-initiate the KYC process for your account. There are no specific fees for this.

What are Call & Trade Charges in Espresso?

In the call & trade function, you can initiate trade by calling a number if you have trouble accessing the internet. The charges are Rs. 50 per trade.