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Angel One Review
Angel One is a large Indian stockbroker, not a forex broker. It has paid multiple SEBI penalties in recent years for weak oversight of its authorised persons.
Min Deposit
$0
Spreads From
Not applicable in the usual forex sense, a flat ₹20 per order on most segments
Max Leverage
Varies by segment under SEBI margin rules, not a fixed forex style ratio
Platforms
Angel One app, Angel One web platform
Pros
- Zero brokerage on equity delivery trades keeps costs low for investors
- Publicly listed on the NSE and BSE since 2020 with public financial reports
- Free demat account opening with no annual charge in the first year
- Wide market access across equities, derivatives, commodities, and currencies
Cons
- Not a forex broker, its currency segment is exchange traded derivatives only
- Paid 4.28 crore rupees to settle a SEBI case in February 2026
- Separately fined 3 lakh rupees by SEBI in late 2025 for similar lapses
- Repeated SEBI findings point to weak oversight of its authorised persons
Angel One, formerly Angel Broking, is an Indian stockbroker, not a forex broker. The company began in 1996 and trades under Angel One Limited, CIN L67120MH1996PLC101709, based in Mumbai. It holds SEBI stock broker registration INZ000161534, and its shares have listed on the NSE and BSE since 2020.
Equity delivery trades cost zero brokerage. Other segments, including derivatives, cost a flat 20 rupees per order, capped lower for small trades. Demat accounts open for free, with no annual fee in year one, then around 240 rupees plus tax each year after.
SEBI has fined Angel One more than once for weak oversight of its authorised persons. In February 2026 the company paid 4.28 crore rupees to settle a case tied to failures in detecting unauthorised fund collection by its representatives, months after a separate 3 lakh rupee fine in late 2025 for similar supervision gaps. A referral program currently pays around 300 rupees for each new client you bring in.
Min. Deposit
USD 0
Max Leverage
Varies by segment under SEBI margin rules, not a fixed forex style ratio
Spreads From
Not applicable in the usual forex sense, a flat ₹20 per order on most segments
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
