Reviews of Stock Brokers

BMA Wealth Creators

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of BMA Wealth Creators, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


BMA Wealth Creators founded in 2004 by SHIV KUMAR DAMANI, AVINASH AGARWALLA, M B DEVASHRAYI & ANUBHAV BHATTER is a Public company headquartered in Kolkata, West Bengal India. As a Full Service Broker, BMA Wealth Creators aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that BMA Wealth Creators operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewBMA Wealth Creators
Broker TypeFull Service Broker
Type of companyPublic
HeadquarterKolkata, West Bengal
Foundation Year2004
Supported ExchangesNA
Total branchesNil

BMA Wealth Creators Account opening charges

To begin trading with BMA Wealth Creators, you need to open a trading account and a Demat account. BMA Wealth Creators charges Rs.500 for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.250 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesBMA Wealth Creators
Trading Account Opening ChargesRs.500
Demat AMC (Annual Maintenance Charges)Rs.250 per Annum
Trading AMC (Annual Maintenance Charges)Zero
Margin MoneyMinimum Rs.20,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

BMA Wealth Creators Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. BMA Wealth Creators brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesBMA Wealth Creators
Equity Delivery Brokerage0.30%
Equity Intraday Brokerage0.03%
Equity Futures Brokerage0.03%
Equity Options BrokerageRs.50 per lot

Currency Brokerage Charges

Currency Brokerage ChargesBMA Wealth Creators
Currency Futures Brokerage0.03%
Currency Options BrokerageRs.20 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesBMA Wealth Creators
Commodity Options Brokerage0.03%

BMA Wealth Creators Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesBMA Wealth Creators
Minimum Brokerage ChargesPercentage of Transaction
Transaction Brokerage Charges0.00300% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNA

BMA Wealth Creators Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by BMA Wealth Creators:

Equity LeverageBMA Wealth Creators
Equity DeliveryUpto 2x
Equity IntradayUpto 10x
Equity FuturesUpto 3x
Equity OptionsUpto 5x

BMA Wealth Creators Currency Leverage

Currency LeverageBMA Wealth Creators
Currency FuturesUpto 3x
Currency OptionsUpto 3x

BMA Wealth Creators Commodity Leverage

Equity LeverageBMA Wealth Creators
CommodityUpto 3x

BMA Wealth Creators Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersBMA Wealth Creators
Free Stock Trading AccountYes
Free Demat AccountNo
Flexible PlansNo
Brokerage DiscountsNo
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramNo
Zero Brokerage on Loss TradesNo

BMA Wealth Creators Features

FeaturesBMA Wealth Creators
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingYes
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)No
Trading InstitutionNo
Trading ExposureUpto 10x
Mutual FundsYes
SIP (Systematic Investment Plan)No
Forex TradingNo

BMA Wealth Creators Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesBMA Wealth Creators
Fundamental ReportsYes
Research ReportsNo
Company ReportsNo
Annual ReportsNo
Company Stock ReviewYes
Free Stock TipsYes
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly reportsNo
Offline AdvisoryYes
Relationship ManagerYes

BMA Wealth Creators Trading Platforms

The BMA Wealth Creators trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.

BMA Wealth Creators Trading Platforms

Desktop Trading PlatformsBMA Wealth Creators
Desktop BrowserYes

BMA Wealth Creators Mobile App

The BMA Wealth Creators mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppBMA Wealth Creators
Mobile BrowserNo
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

BMA Wealth Creators Web Trading

For web-based trading, BMA Wealth Creators offers a powerful trading website known as BMA Wealth Creators trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.

BMA Wealth Creators Trade Terminal

BMA Wealth Creators offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.

BMA Wealth Creators Customer Support

Customer SupportBMA Wealth Creators
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportNo
Chat SupportNo
Toll free numberYes
Support Branches40

BMA Wealth Creators Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by BMA Wealth Creators.

BSE ComplaintsBMA Wealth Creators
BSE Complaints106
BSE Resolved Complaints104
Percentage of resolved BSE complaints98.11 %
NSE Complaints151
NSE Resolved Complaints149
Percentage of resolved NSE complaints98.68 %
BSE/NSE Complaint vs. Resolved Percentage98.39 %


In conclusion, BMA Wealth Creators offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, BMA Wealth Creators can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.