Well, technically speaking, there cannot be a single best online discount stockbroker in India because of there are so many of them. However, Wisdom Capital is ideally one of the most evolving and preferred discount brokerage firm at present. This is why in this blog we will share a detailed Wisdom Capital Review.
With250 franchise network all over India, Wisdom Capital supports both broker assisted trade and automated online trading throughout all the segments across BSE and NSE. Also, Wisdom Capital offers highly discounted trades with free Demat & Trading account and the best part is there are no hidden charges. All these factors have made it ideally the best stockbroker in India.
In the following section of the Wisdom Capital review, we shall explore more about the discount brokerage platform.
What are the brokerage charges for Wisdom Capital?
According to the brokerage calculator, Wisdom Capital offers multiple flexible plans with different brokerage charges. They are as follows:
- There is zero trading account opening charges
- The Demat account opening charges is zero
- There are no annual maintenance charges involved
- The charge for Demat Account Maintenance is 999 INR for lifetime.
Also, there are three plans offers by Wisdom capital. The charges for these plans are as follows:
- Default brokerage charges is 9 INR per executed trade
- The monthly charges include 999 INR for unlimited trades
- The lifetime charges include 9999 INR for unlimited trades
Details on Wisdom Capital Charges
|Brokerage in Cash||Zero||0.005% Intraday, 0.05% for Delivery||0.005% Intraday, 0.05% for Delivery|
|Brokerage FNO (NCE/MCX)||Zero||9/trade||Future – o.oo5 (NCE/MCX), Options – Rs. 15/lot|
|Intraday Margin In Futures/MCX||2X MIS & 10X in Cover Order||6X MIS & 20X in Cover order||Upto 10X MIS & 20X in Cover Order|
|Intraday Margin in Cash||Upto 5X MIS||Upto 40X MIS||Upto 40X MIS|
|Intraday Exposure in Options||1X||1X Buy & 6X Sell||1X Buy and Upto 6X Sell|
|Delivery Margin in cash||1X||Upto 5X||Upto 5X|
|Free Demat Opening||Yes||Yes||Yes|
|Call & trade charges||20/executed order||20 per executed order||20/executed order|
|Demat Maintenance Cost||Lifetime 999 + taxes||Lifetime 999 + taxes||Lifetime 999 + taxes|
|Trading Software Nest||Free||Free||Free|
To ensure a seamless and hassle-free trading experience for every single client, Wisdom Capital offers the best mobile trading app in India. Along with that they also offer three softwares (NET, NOW and ODIN). You will get a fully-automated or a semi-automated algo trading facility. With all these you can take up high leverage upto 20 times in MCX and NSE derivatives and 40X in cash.
What are the account types/plans for brokerage trading in Wisdom Capital?
Wisdom Capital offers three different types of plans for brokerage trading. In the following section of the Wisdom Capital review we shall explore the plans.
- Freedom Plan – In this trading plan, you will have the trading options in all the segments at BSE, NSE, Zero brokerage and MCX. This plan doesn’t offer too much exposure. You will have exposures in the following way:
- Delivery Margin in cash: 1X
- Intraday Exposure in Options: 1X
- Intraday Margin in Futures/MCX: 2X MIS & 10X in Cover Order
- Intraday Margin in Cash: upto 5X MIS
- Pro Plan – This trading plan is created for the professional traders that want a higher intraday exposure or margin along with advanced trading tools. The brokerage charge for this plan is 9 INR for every trade for NSE futures & options, commodity trading & currency at MCX. The plan charges 0.005% for equity cash intraday trading & 0.05% for delivery. The margin/exposure is as follows;
- Delivery Margin in cash: upto 5X
- Intraday exposure in Options: Upto 40X MIS
- Intraday Margin for Futures/MCX: 6X MIS & 20X in Cover
- Intraday Margin in Cash: 1X Buy & 6X sell
- Ultimate Plan: This is designed for the high-frequency trades that require the highest intraday exposures or the highest margins in intraday & delivery trades. The brokerage charged in this plan is 15 INR per lot in trading options. There is 0.005% NSE futures, currency & commodity trading at the MCX. The charges for equity cash intraday trading is 0.005% & the delivery charges is 0.05%.
- The delivery margin in cash is upto 5X
- The Intraday exposure in options is upto 40X MIS
- The Intraday margin in Futures/MCX is upto 10X MIS & 20X in cover order
- Intraday margin in cash is 1X buy & 10X sell
The pros and cons of Wisdom Capital
A Wisdom Capital review should not miss out on the pros and cons of the brokerage platform. The following are the pros of Wisdom Capital:
- You can trade in all market segments i.e. NSE Cash, Currency, F&O and MCX commodities with single trading terminal.
- The trading software includes mobile application, website and additional installable trading terminal that are given for free.
- There are monthly unlimited trading plans available for trading at NSE, MCX and BSE.
- There is no minimum brokerage
- The brokerage platform allows trading in Nifty with 3000, Crude with 3000 & Mega Gold with 9000 margins.
- The platform offers semi & fully automated algo trading.
Apart from these, Wisdom Capital also offers metal futures trading and it can trade in almost all metals, agri and non-agri commodities as well.
Well, there are a few disadvantages of Wisdom Capital as well. They are as follows;
- Wisdom Capital will not offer the option to invest in IPO, Mutual Funds, FPO, NCDs, FDs and offer for sales.
- The automated algo trading is available with completely additional charges at 550 per month for the semi-automated trading.
- The trading and investment products are limited.
Why should you choose Wisdom capital?
Amidst the wide array of discount brokers in India, if you are not sure why you should choose this one, then here are few more reasons to choose Wisdom Capital.
- The most important thing is there is a 100 day challenge where you will get your brokerage refunded if you don’t come out profitable at the end of the 100 trading days.
- It offers the lowest transaction charges with no minimum brokerage, and no charges on the trading or Demat account opening.
- Enjoy unlimited leverage for all exchanges.
- The brokerage plans are low, single ledger for all the segments.
- There is also option for choosing the trading terminal that you like.