Goodwill Broker (Charges, Margin, Platforms)

Are you looking for a reliable and trusted broker for commodity trading? Goodwill Brokers can be a good option for you. 

In this blog post, we will explore Goodwill brokers in detail, along with their brokerage charges, advantages/disadvantages, different platforms, and the account opening process.

This article will help you make an informed decision about Goodwill Brokers.

GoodWill Broker Charges 

#1. Goodwill Broker Account Charges 

Type of Charges	Details
Account Opening Charges	Rs. 0 for online  Rs. 150 for offline
Maintenance Charges	1st year is free.  Rs. 300 annually from 2nd year onwards.

Goodwill charges Rs. 300 per year but other popular brokers like Upstox, Groww, and Fyers don’t charge any annual maintenance fees.

#2. Goodwill Broker Brokerage Charges 

Segment	Brokerage Fee
Equity Delivery	Free
Equity Intraday	Rs. 11 per executed order
Equity Futures & Options	Rs. 11 per executed order
Currency F&O	Rs. 11 per executed order
Commodity F&O	Rs. 11 per executed order

About GoodWill Broker 

Goodwill, established in 2008, has grown to become a trusted leader in the Indian stock market for a particular niche which is commodity trading. Goodwill provides Amibroker access for free if you go for a commodity trading account. 

Goodwill is also popular for personalized trading services and low brokerage charges. 

With multiple branches and multi-language support, Goodwill ensures convenience and maximum trading efficiency.  Goodwill serves over 2 Lakhs+ customers nationwide with the help of 100+ offices, 2000+ Associated Partners, and 650+ employees team.

GoodWill Broker Margin Details 

As per SEBI regulations on peak margins from 1st September 2021, Goodwill Broker offers leverage up to 5X in MIS, BO, and CO for equity intraday trading and up to 1.33 times for other segments.

Segments	Margin/Exposure
Equity Intraday	Up to 5X in MIS/BO/CO
Equity Delivery	Up to 5X in MIS/BO/CO
Equity Futures	Up to 1.33 times in MIS/BO/CO
Equity Options	Up to 1.33 times in MIS/BO
F&O (Currency & Commodities)	Up to 1.33 times in MIS

GoodWill Broker Platforms

#1. GIGA Web Trading Platform

GIGA, a user-friendly web-based platform, allows you to access it conveniently from any device using a web browser. Once logged in, you can start trading directly from the trade area on the website.

The platform offers a seamless experience with all your important menu orders, holdings, funds, and IPOs displayed on the main dashboard screen. You can also create multiple watch lists for different scripts and access comprehensive data analysis for FII and DII.

With GIGA, you have the flexibility to choose from various chart types, such as Bar, Candle, Colored Bar, Hollow Candle, and Line indicators for market and stock analysis.

GIGA enhances your trading experience with its powerful Scanners, which come with advanced filtering options. Moreover, it provides you with multiple Scanners equipped with 100+ indicators to further assist you in making informed trading decisions.

#2. GIGA Mobile Trading App

With GIGA Mobile, a lightweight and user-friendly app, you can stay updated on price movements and manage your trading orders effortlessly while on the go.

GIGA Mobile is your one-stop solution for investing in stocks, mutual funds, and even IPOs. Unlike other discount brokers like Zerodha, GIGA allows you to subscribe to IPOs directly from the mobile app.

The GIGA App empowers you to efficiently manage your portfolios, create watchlists, conduct research, and trade stocks seamlessly from your mobile device. Notable features include an extensive watchlist comprising 100 stocks and the ability to create multiple watchlists as per your requirements. You can create different watchlists such as FMCG stocks, Nifty 50, and MCX.

Equipped with essential indicators like open, low, close, 52 weeks high, and circuit limit data, the GIGA app provides you with valuable insights for making informed investment decisions.

#3. Mutual Funds Karo

Goodwill brokers have made a dedicated portal for mutual funds investment which is Mutualfundskaro.com. 

You can invest in thousands of mutual funds listed under different categories. You can also access their Robo-advisory services to invest in mutual funds as per your different financial goals.

However keep in mind that mutualfundskaro is a regular mutual fund investment portal so you have to pay a commission to Goodwill brokers on investment in mutual funds from their portal, unlike other brokers like Zerodha, Groww that provide direct mutual funds investment. 

You can also go through our list of best brokers for mutual funds investments.

GoodWill Broker Customer Care

Goodwill Broker has a dedicated customer support escalation matrix that ensures they are dedicated to their customer’s queries. The escalation matrix is as below –

	Designated Officer	Contact	Email Id
Customer care	Mrs. Anu	044 40329999 Mon – Fri (9 am to 11.30 pm)	[email protected]
Head of Customer Care	Mr. Pravinth	8973749935 Mon to Fri (9 AM – 9 PM)	[email protected]
Grievance Officer	Mr. Prabhakar	044 40205050 Ext 110 Mon to Fri (9 AM – 9 PM)	[email protected]
Compliance Officer	Mr. Sambath	044 40205050 Ext 102 Mon to Fri (9 AM – 9 PM)	[email protected]
Principal Officer	Mr. Chinnadurai	044 40205050 Ext 111 Mon to Fri (9 AM – 9 PM)	[email protected]
Managing Director	R. Baskaran	044 40205050 Ext 100 Mon to Fri (10 AM – 9 PM)	[email protected]

GoodWill Broker Advantages

• Flat brokerage among all segments
• Free Amibroker professional technical analysis software access with their commodity account
• Regional language customer support is available
• Research advisory services are available for free
• Dedicated portal for mutual funds investment

GoodWill Broker Disadvantages

• Amibroker account only provides commodity charts
• The collateral margin is not available
• Research services don’t include annual reports
• Charges commission on the mutual fund’s investment 

GoodWill Broker Account Opening Process

Let’s discuss the step-by-step account opening process with Goodwill Brokers.

Step 1 – Visit the Goodwill broker’s website and click on the “Register” or “Open an Account” button.

Step 2 – Enter your personal details, including your full name and email address.

You’ll get an OTP on your registered email address to verify your email.

Step 3 – Provide your PAN (Permanent Account Number), date of birth, and Aadhar number for KYC (Know Your Customer) verification.

You’ll be now asked to select the trading segments that you can select as per your requirements.

Step 4 – Fill in your family details, and correspondence address.

Step 5 – Upload the required documents, such as your signatures, PAN card, Aadhar card, proof of address, and any other documents specified by Goodwill Brokers. You’ll have to enter your bank account details as well.

Step 6 – Complete the In-Person Verification (IPV) process, which may involve recording a selfie video online where you have to tell your name and a declaration that you are opening a demat account with Goodwill Brokers.

Step 7 – Finalize the account opening process by completing the e-signature using Aadhar verification. Authenticate your identity using the OTP (One-Time Password) sent to your registered mobile number.

After following these steps, your account opening request will be submitted to Goodwill Brokers. Your account will be opened within 48 hours of completing the account opening process.

Final Words – Why You Should Open GoodWill Broker Account?

You can go for Goodwill Broker if you are highly active in commodity trading, as you get free amibroker software access for in-depth technical analysis of the commodity market. 

You can also enjoy a flat brokerage of Rs 11 per order among all segments such as equity, F&O, currency, and commodity trading.

You can also explore other discount brokers from this list that offers cheap brokerage on stock trading if you are not primarily trading in the commodity segment.

FAQs