Accounts and service model
Sections ↑Service relationships
| Account or facility | Relevant distinction |
|---|---|
| Trading | Nirmal Bang Securities Private Limited account and activated exchange segmentsSource 6Source 5Source 2Source 1 |
| Demat | NSDL/CDSL custody services; signed DP tariff appliesSource 6Source 5Source 2Source 1 |
| MTF | Separate funded-share facility and approved-stock listSource 6Source 5Source 2Source 1 |
| Brokerage | Agreed onboarding schedule; blank tariff fields are not zero chargesSource 6Source 5Source 2Source 1 |
Markets and instruments
Sections ↑Risk framework by segment
| Segment | Published margin inputs |
|---|---|
| Cash | Value at Risk, extreme-loss and mark-to-market requirementsSource 10 |
| Equity derivatives | Initial/SPAN, premium, exposure, assignment and mark-to-marketSource 10 |
| Currency derivatives | Initial/exposure, premium and mark-to-marketSource 10 |
| Commodity derivatives | Additional tender/delivery requirements can applySource 10 |
INR currency derivatives remain hedging products. RBI’s 10 October 2026 circular reduced the aggregate exchange documentation threshold to USD 5 million; that threshold is not permission for unhedged speculation.[12]
Trading and account costs
Sections ↑Depository and pledge costs
| Charge | Scope |
|---|---|
| Margin pledge creation / release | ₹10 with POA; ₹20 without POA, per transactionSource 5Source 6 |
| Transfer tariff in non-individual NSDL application | Higher of ₹15 or 0.03% per market/off-market transactionSource 5Source 6 |
| General pledge in that application | Higher of ₹100 or 0.02% for creation/closure/invocationSource 5Source 6 |
| Tax | Applicable GST additionalSource 5Source 6 |
| Tariff scope | The published application tariff is not a universal quote for every individual, BSDA, NSDL or CDSL planSource 5Source 6 |
MTF financing and minimum margin
| Item | August 2026 policy |
|---|---|
| Initial margin | Higher of VaR + five times ELM or 35%Source 2 |
| Higher requirements | Broker can require more for client/security riskSource 2 |
| Interest ceiling | Up to 24% annually; actual agreed rate can be lowerSource 2 |
| Charges | Reduce available funding capacitySource 2 |
| Securities | Approved Group I shares; eligibility can changeSource 2 |
Platforms, orders and margin
Sections ↑Timer-based square-off, local exchange time
At the first time, pending orders cancel and clients cannot place either fresh or square-off orders in the affected products. RMS then attempts market closure. The policy expressly leaves final responsibility with the client because liquidity, technical failure or exchange availability can prevent completion.[3]
MTF concentration and exit triggers
| Control | Policy |
|---|---|
| Diversification | At least three approved stocksSource 2 |
| Single stock | Maximum 40% concentrationSource 2 |
| Excess concentration | If above 40% and worth over ₹10 lakh, excess can be liquidated within ten daysSource 2 |
| Trade-to-trade migration | Existing funded positions to be liquidated within 30 daysSource 2 |
| Facility inactivity | Settlement can follow 90 days without MTF transactionsSource 2 |
| Shortfall | Partial payment does not extend the deadline; severe margin erosion can permit sale without noticeSource 2 |
Beyond order behaviour
| Feature | User-guide description |
|---|---|
| Bracket order | Entry plus target/stop; one exit cancels the otherSource 4 |
| Cover order | Entry with compulsory stop; intradaySource 4 |
| Multi-leg order | Each leg has independent execution and risk checksSource 4 |
| Smart routing | Checks exchange quotes and can split for liquiditySource 4 |
| AMO | Queued outside market hours; not yet an exchange fillSource 4 |
| Sliced order | Breaks quantities above exchange freeze limits into smaller ordersSource 4 |
Beyond access and records
| Function | Documented support |
|---|---|
| Login | OTP or TOTP; TOTP configured after an OTP loginSource 4 |
| Password | Guide specifies minimum eight characters and 14-day changesSource 4 |
| Reports | Pay-in, payout, research and reports linksSource 4 |
| Order audit | Order/trade books and identifiable order numbersSource 4 |
Funding and withdrawals
Sections ↑Funding controls
| Item | Published treatment |
|---|---|
| Source bank | Only a bank mapped to the client accountSource 8Source 7 |
| Bank modification | Form and cancelled cheque; branch processing stated as three working daysSource 8Source 7 |
| Methods | NEFT, RTGS, IMPS and UPI listedSource 8Source 7 |
| Validated UPI | Recipient: Nirmal Bang Securities Pvt LimitedSource 8Source 7 |
| UPI ceiling | ₹5 lakh per day on the published pageSource 8Source 7 |
| Portal identification | Client code and PANSource 8Source 7 |
The validated payment page states that older UPI IDs have been discontinued. Use its live confirmation flow instead of retaining an old payee from a message or historic screenshot.[7]
Regulation and asset protection
Sections ↑Margin asset controls
| Item | Published safeguard or limitation |
|---|---|
| Approved collateral | Haircuts reduce usable collateral valueSource 2Source 10 |
| Funded shares | Tracked separately from collateralSource 2Source 10 |
| Price appreciation | Funded-share appreciation is not automatically fresh MTF capacitySource 2Source 10 |
| Repayment | Full dues must be cleared to receive funded sharesSource 2Source 10 |
| Intraday conversion | The policy prohibits the specified same-day MTF/CNC offset-conversion tradesSource 2Source 10 |
Support and complaints
Sections ↑Published service routes
| Purpose | Contact |
|---|---|
| General support | [email protected]; +91 22 6820 7000Source 7Source 9 |
| Broking grievances | [email protected]; +91 22 6273 9390Source 7Source 9 |
| Depository grievance contact | [email protected]; +91 22 6273 9050Source 7Source 9 |
| Legal escalation | Published grievance matrix provides successive legal/compliance contactsSource 7Source 9 |
Additional services
Sections ↑Beyond includes option-chain analytics, charting, stock baskets and scheduled equity SIP tools. Its manual distinguishes a trigger from execution and independent strategy legs from an atomic fill. Those distinctions are more useful than assuming every multi-leg order completes as a single trade.[4]
Company and legal entities
Sections ↑NBSPL legal identity
| Item | Published record |
|---|---|
| Broker registration | INZ000202536 in the current MTF agreementSource 2Source 11 |
| Depository registration | IN-DP-619-2021; CDSL DP 13300Source 2Source 11 |
| Incorporation | 12 September 1997 in the CDSL recordSource 2Source 11 |
| Mobile application | Beyond Pro linked by CDSLSource 2Source 11 |
Nirmal Bang Securities Private Limited must be distinguished from similarly named group entities, including Nirmal Bang Equities Private Limited. This profile uses NBSPL’s MTF and square-off documents; it does not import a differently named entity’s smart-order-routing agreement.[2][3][6]
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
Nirmal Bang Securities Private Limited
No separate licence entry is recorded in this panel.
Sources & further reading
- Policies and procedures Nirmal Bang Securities · Accessed 26 Oct 2026
- MTF policy dated 25 August 2026 Nirmal Bang Securities · Accessed 26 Oct 2026
- Timer-based square-off policy effective 3 August 2026 Nirmal Bang Securities · Accessed 26 Oct 2026
- Beyond Trading user guide Nirmal Bang Securities · Accessed 26 Oct 2026
- Depository services and margin-pledge charges Nirmal Bang Securities · Accessed 26 Oct 2026
- Published non-individual NSDL account form Nirmal Bang Securities · Accessed 26 Oct 2026
- SEBI-validated UPI funding Nirmal Bang Securities · Accessed 26 Oct 2026
- Registered-bank fund-transfer portal Nirmal Bang Securities · Accessed 26 Oct 2026
- Investor grievance routes Nirmal Bang Securities · Accessed 26 Oct 2026
- RMS policy Nirmal Bang Securities · Accessed 26 Oct 2026
- Current NBSPL depository record Central Depository Services (India) Limited · Accessed 26 Oct 2026
- RBI circular 25, 10 October 2026 Reserve Bank of India · Accessed 26 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.