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Goodwill Broker Review

Goodwill Broker Review

Goodwill’s free demat account offer might be attractive enough to jump on immediately, but there is more to the picture. To go for Goodwill, you must be aware of insights which include its charges, features, customer service and, most importantly, its specialization in commodities. In this review, we will give you in-depth glimpses on what Goodwill is actually about.

Founded in 2008, Goodwill is Chennai based full service stock broker with presence in 27 locations of India. Goodwill seems like a full service broker as it offers trading in almost all sections including equity, derivative, commodity, currency, and mutual funds, but it is best-known for its commodity trading.

Goodwill’s Commodity Expertise

Goodwill is a key member of MCX since beginning that’s why it’s known for commodity exchange. It has entered the equity market at later stage.

Since beginning, Goodwill has focused well in commodity market – giving clients guidance at each step of commodity trading. Its training programs and softwares are well designed for commodity trading. You will never run out of research, reports, data and support of research team when it comes to commodity trading with Goodwill.

So for Commodity Exchange, Goodwill can be your first choice, but if you are looking for one-stop-shop for all, you need to dig more.

Other Features

You can’t expect much from other features that doesn’t include commodity. When it comes to other market segments, Goodwill offers average services.

Here’s what Goodwill has in-store for you:

  • News and Events: Goodwill keeps you updated with latest news, events and sudden market changes.
  • Research Team: Goodwill has in-house research team to give guidance to its clients
  • Free Training Programs: Goodwill offers FREE training programs to learn equity and MCX.
  • Learning Sources: Every now and then, Goodwill host live webinars, trading seminars and YouTube tutorials to teach customers about trendy trading strategies
  • Reports: Whether you are looking for daily report for intraday trading or monthly report for long term investments, Goodwill covers you with everything.
  • Support: Goodwill avails customers on phone, chat, email and webform – whatever you prefer.
  • Easy Fund Transfer: The company has a partnership with 24 banks which makes fund-transfer extremely easy and secure for clients.

 Account Opening Charges

Trading Account Opening Charges Rs. 0
Demat Account Opening Charges Rs. 0
Annual Maintenance Charges Rs. 0

 That’s the key selling point for Goodwill

Open Free Trading Account

Brokerage

Equity Delivery: 0.3%

Intraday: 0.01%

Futures Rs. 30 Per Lot
Options Rs. 50 Per Lot
Currency Futures: Rs. 30 Per Lot

Options: Rs. 50 Per Lot

Commodity Rs. 50 Per Lot

Brokerage is where traders think more about saving to maximize their profit. It is recommended to check out charges of other brokers before setting your foot on.

Intraday Leverage

Equity Upto 20 Times
Futures Upto 15 Times
Options Upto 10 Times
Currency Futures Upto 15 Times
Currency Options Upto 10 Times
Commodity Upto 20 Times

Platforms

Online Trading through Website: As soon as you open the Goodwill’s website, you feel like landing on a heaven. Where full-service broker have formal structured sites with news, Goodwill’s site is decorated with animation and looks less formal. But it doesn’t affect Goodwill’s ability to offer all features in easily-readable manner. News, reports, research, login and account opening tabs are clearly visible to have a good idea about what to do next.

ODIN DIET: This is a terminal based trading platform with multiple features like technical & fundamental analysis, easy to implement transactions, etc suited well to all your trading and investment needs.

iWin Mobile App: Similar to the software, the app also offers almost every feature for traders and investors. But the app failed to win users’ heart because of sudden crashes and interface issues. You can’t rely on app to perform trading on the go.

Customer Service: This is where Goodwill excels. Anytime, anywhere and through any source, ask anything to their support team, you won’t be disappointed. Even if you are not their customers, they will serve you with each required detail.

Reviews & Ratings

Ratings: 3.5/5

Customers have mix review regarding Goodwill’s products and services. Some praises company for its services and expertise in commodity while other complain about average equity services.

Should you go for it?

Overall, Goodwill is good but it is no different than any other full service broker. Money you save from zero account opening charges will be spent behind brokerage charges as they are comparatively higher. If you are looking exclusively for commodity trading, Goodwill is a best choice. You should look further, if you want one platform for all trades.

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