APOLLO MONEY

APOLLO MONEY is an online stockbroker based in Chennai, India, operating as a brand of PSB Securities Ltd. Our review found that the firm was established in June 2019 and focuses on providing equity, derivatives, and currency trading services to retail and non-resident Indian (NRI) investors. While FXCanary's internal records initially listed no regulatory information, an independent examination of the official website reveals that the broker holds a SEBI stockbroker registration (registration number INZ000164630) and is also a depository participant with NSDL/CDSL.

The broker's physical address is listed as 102, AC Block, 2nd Street, 6th Main Road, Anna Nagar, Chennai – 600040. It provides contact numbers and email addresses for inquiries and support. The firm appears to cater primarily to domestic Indian traders, with a particular emphasis on algo trading and derivative strategies.

According to its website, APOLLO MONEY is regulated by the Securities and Exchange Board of India (SEBI) as a stockbroker. The SEBI registration number is displayed on the site, along with a depository participant ID. This regulatory oversight means the broker must comply with Indian securities laws, maintain client segregation, and participate in investor protection mechanisms such as the SEBI Investor Protection Fund.

However, it is important to note that APOLLO MONEY's primary business is stockbroking, not forex or CFD trading. Currency derivatives offered by the broker are exchange-traded on recognized Indian exchanges like NSE and BSE, which provide central counterparty clearing and transparency. Clients' funds are held in separate bank accounts, and the broker is subject to periodic audits by SEBI.

APOLLO MONEY offers a wide range of investment products. These include equity cash and delivery trading, equity derivatives (futures and options), currency derivatives (futures and options on currency pairs), commodity derivatives, and mutual funds. The broker also supports algo trading through API-based platforms and provides direct market access for eligible clients.

For NRI clients, the broker offers specialized services for portfolio investment schemes (PIS) and repatriable/non-repatriable investments. The firm also provides margin trading facilities for derivatives and intraday equity trading, though specific margin requirements are not publicly detailed on the website.

The website mentions two main account types: a Standard Trading Account for resident Indians and an NRI Trading Account for non-residents. Account opening can be done online, with documentation such as PAN card, Aadhaar, and bank details required. The broker does not publicly disclose account minimums or fee structures, but typical Indian brokers charge brokerage as a percentage of turnover or a flat fee per trade.

Pricing for trading includes segment-wise brokerage (equity delivery, equity intraday, derivatives, currency, and commodity). The broker also may charge account maintenance fees (AMC) for demat services. Since exact figures are not readily available, prospective clients are advised to contact the firm directly for a detailed fee schedule.

APOLLO MONEY provides a proprietary trading platform called 'PSB Direct', which is available as a web-based platform and a mobile app. The platform offers real-time data, charting, order types (market, limit, stop-loss), and portfolio tracking. It supports trading across equity, derivatives, currency, and commodity segments.

The broker also offers algo trading capabilities, allowing clients to automate trading strategies using APIs. This is particularly appealing to quantitative traders. Additionally, the platform provides market news and research reports as part of its services.

The broker supports multiple funding methods, including bank transfers (NEFT/RTGS) and online payment gateways. Fund withdrawals are processed through the same banking channels, typically within one working day. The website includes a 'Fund Deposits' page with details of the broker's bank accounts.

APOLLO MONEY states that client funds are held in segregated accounts with scheduled banks, in line with SEBI regulations. The broker does not appear to charge fees for deposits or withdrawals, though users should confirm this during the account opening process.

Customer support is available from Monday to Friday during market hours (9:00 AM to 5:00 PM). The contact numbers and email addresses are prominently displayed on the website. The broker also shares a escalation matrix with designated personnel for complaints resolution.

While the website does not offer extensive educational resources, it does provide basic information about various products and market concepts. The broker appears to rely on direct communication for client onboarding and support, rather than a comprehensive knowledge base or webinars.