Bajaj Broking vs SMC Global
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Bajaj Broking
VS
SMC Global
Bajaj Broking vs SMC Global — quick verdict
Choose Bajaj Broking if
You want research and offline support
Bajaj Broking Review 2026 — Explore flexible brokerage plans, research-backed stock ideas, advanced trading tools, MTF, IPOs and multi-asset investing.
Choose SMC Global if
You want research and offline support
Your Financial Partner.
Company overview
Bajaj Broking is a full-service broker incorporated in 2010; SMC Global is a full-service broker incorporated in 1994.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Year of incorporation | 2010 | 1994 older |
| Number of branches | 45+ branches across 40+ locations, accor wider | 2,500+ |
| Active clients | Approximately 6 lakh as of 31 December 2 larger | 4 Lakh+ |
Charges & AMC
Account-opening and maintenance charges for Bajaj Broking and SMC Global compared side by side.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Trading a/c opening | ₹0 | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹0 (via plans) lower | ₹399 + GST per year |
| DP charges (per ISIN, sell) | ₹30 per ISIN per debit transaction | ₹15.93 per debit transaction (including GST) lower |
Brokerage charges
How Bajaj Broking and SMC Global price each trading segment, per executed order.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Equity Delivery | ₹20/order | 0.30% |
| Equity Intraday | ₹20/order | 0.30% |
| Equity Futures | ₹20/order | 0.30% |
| Equity Options | ₹20/order | ₹20 per executed order |
| Currency F&O | ₹20 per order | 0.03% |
| Commodity F&O | ₹20 per order | 0.03% |
| Call & Trade | Included / supported | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Bajaj Broking and SMC Global, per segment.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Equity Delivery | NSE ₹297 per Cr (0.00297%) | BSE ₹375 per Cr (0.00375%) | NSE: 0.00297% • BSE: 0.00375% |
| Equity Intraday | NSE ₹297 per Cr (0.00297%) | BSE ₹375 per Cr (0.00375%) | NSE: 0.00297% • BSE: 0.00375% |
| Equity Futures | NSE ₹173 per Cr (0.00173%) | BSE ₹0 | NSE: 0.00173% |
| Equity Options | NSE ₹3503 per Cr (0.03503%) | BSE ₹325 per Cr (0.00325% on premium) | NSE: 0.03503% (on premium) |
| Currency Futures | NSE ₹35 per Cr (0.00035%) | BSE ₹45 per Cr (0.00045%) | NSE: 0.00035% |
| Currency Options | — | NSE: 0.03110% (on premium) |
| Commodity Futures | — | MCX: 0.00210% |
| Commodity Options | — | MCX: 0.04180% (on premium) |
Demat & DP charges
Depository (demat) charges for Bajaj Broking and SMC Global — AMC, debit transactions, pledging and remat.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Demat Account Opening | ₹0 | ₹0 |
| Transaction Charges (Sell) | ₹30 or 0.0002% of transaction value, whichever is higher, plus applicable taxes, as listed for off-market transfers; confirm the applicable delivery DP charge separately | — |
| Annual Maintenance Charges (AMC) | ₹0 under the published standard fee schedule; verify plan-specific conditions | ₹399 + GST per year |
| Pledge / Unpledge / Closure / Invocation | ₹35 plus applicable taxes | — |
| Physical CMR/DIS | First request free; subsequent requests ₹50 plus ₹100 courier charges and applicable taxes | — |
| Dematerialisation | Official fee schedule lists ₹50 per request plus ₹50 per certificate; verify the current tariff | — |
| Rematerialisation | ₹35 per certificate or per 100 shares, whichever is higher, plus applicable charges | — |
| Failed Transactions | Not verified | Nil |
| Debit Transaction Charges | — | ₹15.93 per debit transaction (including GST) |
| Pledge / Unpledge Charges | — | ₹25 + GST per request |
| Dematerialisation (Demat) | — | ₹150 per certificate + GST |
| Rematerialisation (Remat) | — | ₹150 per certificate + GST |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Bajaj Broking and SMC Global.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Equity Delivery | Generally 100% of the trade value unless an eligible facility applies (1x without borrowing) | 100% of trade value (1x) |
| Equity Intraday | Depends on the stock, risk controls and applicable exchange margin requirements (Not fixed; depends on available margin) | VAR + ELM Margin (Up to 5x*) |
| Equity Futures | Exchange-prescribed SPAN and exposure margin requirements apply (Not fixed) | SPAN + Exposure Margin (As per available margin) |
| Equity Options | Depends on the contract, position and applicable margin requirements (Not fixed) | Premium Value (Not Applicable) |
| Margin Trading Facility (MTF) | Subject to eligible securities, funding limits and the applicable plan (Bajaj Broking advertises up to 4x buying power on eligible stocks; actual limits vary) | SPAN + Exposure Margin (As per available margin) |
| Currency Futures & Options | — | SPAN + Exposure Margin (As per available margin) |
| Commodity Futures & Options | — | SPAN + Exposure Margin (As per available margin) |
Features & account
Account type and feature availability across Bajaj Broking and SMC Global.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✓ Yes better | ✕ No |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Bajaj Broking Trading App, Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs. | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Margin Trading Facility (MTF) up to 365 days, expert research reports, zero account opening fees. | Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Bajaj Broking and SMC Global.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Trading platforms offered | Bajaj Broking Trading App, Bajaj Broking Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | Bajaj Broking Trading App, Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs. | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| Mobile / desktop apps | Mobile, Web, Desktop / Trading Terminal, API / Integration | Web, Mobile, Desktop |
User ratings
User ratings for Bajaj Broking and SMC Global across the key parameters.
| Rated on | Bajaj Broking | SMC Global |
|---|---|---|
| Fees | 4.4 better | 4.1 |
| Brokerage | 4.3 better | 4.2 |
| Trading platform | 4.2 | 4.3 better |
| Customer service | 4 | 4.5 better |
| Research | 4.5 | 4.8 better |
| Overall | 4.2 | 4.3 better |
Investment options
Which investment products Bajaj Broking and SMC Global let you access.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Bajaj Broking and SMC Global.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Bracket Order | ✕ No | ✓ Yes better |
| Cover Order | ✕ No | ✓ Yes better |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes better | ✕ No |
Safety & credibility
SEBI registration, financial strength and complaint record for Bajaj Broking and SMC Global.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| SEBI registration | INZ000218931 | INZ000199438 |
| NSE member code | 90177 (NSE member ID) | 06611 |
| Year of incorporation | 2010 | 1994 longer track record |
| Net worth | ₹2,037 crore as of December 2025, according to CRISIL Rating stronger | ₹3,215+ Cr |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Latest complaint ratio | 0.11% | 0.004% fewer complaints |
Complaints record
Exchange complaint data for Bajaj Broking and SMC Global — the ratio matters more than the raw count.
| Parameter | Bajaj Broking | SMC Global |
|---|---|---|
| Latest financial year | 2025–26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 59,995 | 4,21,538 larger base |
| Complaints filed | 67 | 17 |
| Complaint ratio | 0.11% | 0.004% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Bajaj Broking
▲ Pros
- ✓ Multiple brokerage plans to suit different trading requirements.
- ✓ ₹10-per-order brokerage advertised for eligible segments under the Professional Pack.
- ✓ Online demat and trading account opening.
- ✓ Access to equity, derivatives, IPOs, mutual funds and bonds.
- ✓ Margin Trading Facility with plan-dependent interest rates.
- ✓ Research-backed stock ideas and market insights.
- ✓ Trading APIs with order-management and market-feed capabilities.
- ✓ Advanced charting, watchlists, screeners and trading tools.
- ✓ Access to investment calculators for brokerage, margin and other financial calculations.
▼ Cons
- ✕ The lowest advertised brokerage requires selecting the applicable paid subscription plan.
- ✕ The Professional Pack has an annual subscription cost.
- ✕ The Freedom Pack's subscription is free for the first year but costs ₹431 annually from the second year.
- ✕ MTF involves interest costs, eligibility requirements and market risk.
- ✕ Brokerage and statutory charges can make the total trading cost higher than the headline per-order fee.
- ✕ Users who rely on API or algorithmic trading may need to understand integration requirements and trading-related risks.
- ✕ Current support response times and service-quality ratings have not been independently verified.
- ✕ Detailed exchange transaction fees should be checked against the current tariff before comparing costs.
SMC Global
▲ Pros
- ✓ Strong equity, commodity, and currency research.
- ✓ Wide range of investment and wealth management products.
- ✓ Large nationwide branch and franchise network.
- ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
- ✓ Advanced web, mobile, and desktop trading platforms.
- ✓ Dedicated relationship managers and advisory services.
▼ Cons
- ✕ Brokerage charges are higher than discount brokers.
- ✕ Annual Demat AMC is applicable.
- ✕ Some advanced advisory services are available only to premium clients.
- ✕ Trading platforms may have a steeper learning curve for beginners.
- ✕ Call & Trade charges apply.
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