FREE Account Opening + Zero AMC Fees* + MutualFund SIP1

Nirmal Bang Review 2023

Rated 3/5 by InvestorGain Team
Last updated on: 28-Aug-2023
Nirmal Bang Review
  1. Ranked #1 Broker in India
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

Nirmal Bang Review 2023 - Quick Summary

Open a free trading & demat account with one of the most prominent full-service brokers in India. Get the best Nirmal Bang Research & advisory, portfolio management services, and trade on the superfast Beyond and ODIN trading platforms.

Nirmal Bang Top Highlight for 2023

  • Trade in equity, derivatives, forex, and commodity segments.
  • Free trading and demat account.
  • Paperless account opening.
  • Multiple trading platforms to trade on different devices.
  • Free trading tips and a wide range of research reports.
  • Strong offline presence with offices in 16 Indian states.

About Nirmal Bang

Nirmal Bang is one of the leading full-service stock broking companies in India that caters to retail and institutional customers. The Mumbai-based stockbroker is serving customers in the trading space for more than 30 years. The stock broker is a member of BSE, NSE, MCX, NCDEX, NMCE, and a DP with NSDL and CDSL offers a wide range of financial products and services including equity, derivatives, commodity, currency, IPO, mutual funds, insurance, margin financing, portfolio management services (PMS), and research & advisory services.

Open a Free Demat and Trading Account with Nirmal Bang and trade on different exchanges. The brokerage house charges a brokerage fee percentage from 0.02% to 0.20% varied across segments.

The broker allows customers to trade on multiple platforms including the web portal, Beyond mobile app, and ODIN desktop trading terminal. It also has the LD Backoffice report portal and LD Rakshak risk management software.

Nirmal Bang has a dedicated team of fundamental researchers and technical analysts who provide in-depth research reports on market analysis. Its research services include a wide array of products including technical calls, fundamental equity reports, derivative research, commodity research, currency research, macroeconomic research reports, and mutual fund research undertaken by experts & analysts.

The stock broker serves customers online as well as offline via a network of branches and regional offices all over the country. Do you want to know more about Nirmal Bang? Check the Genuine Nirmal Bang Review 2023 including account opening fees, brokerage charges, trading platform features, research offerings, customer care details, and pros & cons uncovered.

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Nirmal Bang Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 3/5

Nirmal Bang levies brokerage charges on trading on multiple exchanges; BSE, NSE, MCX, and NCDEX. Following the traditional pricing model, it charges a fixed brokerage percentage from clients. Under the basic/standard plan, it charges 0.20% on delivery trading, and 0.02% on intraday, futures, and currency futures trading segments. Equity options trading is charged at Rs. 35 per lot basis while options trading in the currency segment is charged at Rs. 20 per lot.

Nirmal Bang Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Rs 200 PA

Nirmal Bang Brokerage Plan with closest competitors

Here we are comparing Nirmal Bang with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Nirmal Bang 5paisa Zerodha Upstox Paytm Money
Service Type Full Service Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range .02% to .20% Rs 20 Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery 0.2% or 20 paisa Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday 0.02% or 2 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower
Equity Futures 0.02% or 2 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Rs 35 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity 0.02% or 2 paisa Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures 0.02% or 2 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Rs 20 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA

Other Charges

  • Call & Trade Charges: NA
  • RMS Auto Square Off Charges: NA
  • Hidden Charges: NA

For complete brokerage charges and trading plans detail please visit Nirmal Bang Brokerage Charges.

Please refer unique and accurate Nirmal Bang Brokerage Calculator

Type of Account offered by Nirmal Bang

Nirmal Bang allows residents to open a 2-in-1 account to trade in different segments. The trading account not just facilitates online trading but also provides free access to its research reports.

Nirmal Bang Demat and Trading Account

  • Having CDSL as well as NSDL depository participant’s membership, Nirmal Bang allows residents to open a trading cum demat account. The trading account allows customers to trade or invest in shares, futures & options, commodities, and currency derivative segments. It also offers other products like IPO, mutual funds, bonds, fixed-income products, insurance, and NPS retirement product.
  • Is the Nirmal Bang account free? Yes, Nirmal Bang does not charge anything on its demat and trading account. Further, it charges a minimal maintenance fee of just Rs. 200 per annum on its demat account.

How to open Nirmal Bang Account online?

The online account opening process at Nirmal Bang is extremely simple and time-savvy that takes just a few minutes and the account will be activated within 24 hours. You can start trading online right from the moment your account is activated.

Steps to open Nirmal Bang trading and demat account online;

  1. Head to Nirmal Bang’s website and click on the “Open an account” tab.
  2. Fill out the demat account opening form by providing your name, mobile number, email ID, and OTP.
  3. Upload a scanned copy of required documents like PAN, Aadhaar, cancelled cheque, bank proof, and photo.
  4. Select your choice of trading segments.
  5. Provide basic personal details and address for correspondence.
  6. Now, enter your bank details including your account number and IFSC code.
  7. Complete the E-sign process using your aadhaar card details.
  8. Complete in-person verification (IPV) and it’s done!
  1. Free Demat Account
  2. 100% Free Delivery Trade
  3. Online Account Opening

Alternatives to Nirmal Bang

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Nirmal Bang Mobile App and Trading Platforms

Trading Platforms Rated 3/5

Nirmal Bang facilitates customers to trade across a variety of trading platforms including the website, Beyond mobile app, and ODIN trading software. Let us have a detailed discussion of the features of the Nirmal Bang Mobile App and other platforms.

Nirmal Bang Beyond Mobile App

  • Trade in equities, derivatives, currency, and commodities across BSE, NSE, MCX, and NCDEX using the Beyond mobile trading app. Awesome features from customized watchlists to detailed dashboard view, scanners, advanced charting with 100+ indicators, stock fundamentals, option chain, open quote details, one-tap customer support, event and news updates, and free access to trading tips and research. It is a secure app with MPIN based login facility. Although the app has all the needed features but it does not still receive a good credit rating due to poor interface and speed.
  • Beyond mobile app is compatible across all major devices including iPod, iPad, iPhone, and android smartphones.

Nirmal Bang ODIN Trading Terminal

  • Nirmal Bang’s ODIN is a desktop trading terminal that comfortably works even on low internet bandwidth. The app-based platform can be downloaded on desktop or laptop devices and allows customers to trade on multiple exchanges. Active traders can use the platform for an effective and superfast trading experience.

Nirmal Bang ODIN Aero Web Trading Platform

  • Aero is the web-based trading platform offered by Nirmal Bang to facilitate online trading through any browser. Default Market Watch, Customized watchlist, One-tap order placement, portfolio holdings & positions, charts, trade book details, margin, and hassle-free fund transfer are the prominent features available on the Nirmal Bang Aero web portal.

Nirmal Bang LD Backoffice

  • LD Backoffice is a LIVE back-office software powered with W2FP technology. The software provides access to 28+ different types of reports to customers including Profit & Loss (P&L) report, SPAN margin report, digital contract note, Short-term and long-term capital gain report, and more.

Nirmal Bang LD Rakshak

  • LD Rakshak is Nirmal Bang’s risk management software that customers can use while trading. The software has real-time risk monitoring features on your portfolio positions, exposure, margins, and also square off positions on a real-time basis.

For detail review of mobile app and download please visit Nirmal Bang Trading Platform Review.

Nirmal Bang Trading Pros

  • Multiple trading and investment products.
  • Zero account opening fees.
  • Low maintenance charges.
  • Trade on the web, Beyond mobile app, and ODIN desktop platform.
  • Next-gen Algo trading platform to automate your trading journey.
  • Technical calls and research across equity, commodity, currency, mutual funds, etc.
  • Institutional research including sector and company-specific reports.
  • An abundance of educational sources i.e., articles, blogs, and educational videos.
  • Margin trading facility (MTF) and Loan against securities (LAS).
  • After-market order (AMO) facility.

Nirmal Bang Trading Cons

  • Nirmal Bang does not provide Good Till Triggered (GTT) order
  • High brokerage charges than discount brokers.
  • Minimum margin money of Rs. 10,000 is required to maintain.
  • It does not provide a 3-in-1 account opening facility.

Nirmal Bang Customer Care info

Nirmal Bang provides telephonic assistance to customers through its centralized helpdesk. The customer care executives/representatives at the helpline desk cater to every kind of customer grievance including account opening issues, brokerage-related concerns, trading platform issues, etc. It also maintains other communication channels including Whatsapp (91 9082846200), customer helpline email, and 24*7 access to the back-office. Apart from this, it also has dedicated support for mutual fund relevant queries at [email protected] and helpline number 022 6273 9100.

The full-service broker also has a PAN India presence with branches and offices all over the country to provide offline customer assistance. Customers can visit any of the nearest branches to resolve their queries. The broker provides personalized customer care support to become a reputed name in terms of client satisfaction.

  • Nirmal Bang Customer Care Phone Number: NA
  • Nirmal Bang Customer Support Email: NA
  • Nirmal Bang Knowledge Center:

Final thought about Nirmal Bang

Rated 3/5 by 20 users

Trusted by thousands of traders and investors, Nirmal Bang has bagged as one of the top-notch full-service brokerage houses in India. The broker stands out well in terms of product & service offerings, flexible trading platforms across the web, mobile app, and desktop, and research & advisory services. However, the brokerage house still follows the traditional %-based pricing model, although the charges are justifiable in line with the services offered, if you are someone looking for flat brokerage trading, then it is better to open an account with discount brokers like Zerodha, Groww, and Prostocks.

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Last updated on: 2023-08-28

Nirmal Bang User Reviews

7. Avijit Paul Sep 14 2022 11:59:51 AM Reply
Good Behaviour & Excellent Service...


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
6. Trader Mar 27 2019 02:25:04 PM Reply
bekaar advice, khud trade karte hai hamare rupyo se


Brokerage - Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Customer Service - Average
Overall Experience - Average
5. Ramesh Oct 20 2018 10:51:46 AM Reply


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
4. MD AMIN Feb 09 2018 08:17:41 PM Reply
There are lot of hidden charges.. Brokerage is too high.
3. VARUN Dec 25 2017 07:43:36 PM Reply
Reasonable brokerage


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Above Average
Customer Service - Above Average
Overall Experience - Above Average
2. balaji Oct 12 2017 12:11:29 PM Reply


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
1. Amelia Hams Apr 04 2016 05:07:17 PM Reply

You have mentioned wrong email ID, i.e. Email. Its not working. Please change it to Email, this is right email ID.