Reviews of Stock Brokers
Wisdom Capital
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 Wisdom Capital, one of India's prominent Discount Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.
Overview
Wisdom Capital founded in 2013 by Deb Mukherjee is a Private company headquartered in Noida, Uttar Pradesh, India India. As a Discount Broker, Wisdom Capital aims to provide cost-effective buy/sell orders, enabling investors to save money compared to full-service brokers. However, it is crucial to note that Wisdom Capital operates as a full-service brokers. It offers extensive investment advice and detailed stock analysis for its clients.
| Overview | Wisdom Capital |
|---|---|
| Broker Type | Discount Broker |
| Type of company | Private |
| Headquarter | Noida, Uttar Pradesh, India |
| Founders | Deb Mukherjee |
| Foundation Year | 2013 |
| Supported Exchanges | BSE, NSE, MCX, NCDEX |
| Total branches | 250 |
Wisdom Capital Account opening charges
To begin trading with Wisdom Capital, you need to open a trading account and a Demat account. Wisdom Capital charges Zero for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of lifetime 0Rs 999 + taxes for the Demat account. However, it's worth mentioning that trading AMC is free.
| Account Opening and Demat Charges | Wisdom Capital |
|---|---|
| Trading Account Opening Charges | Zero |
| Demat AMC (Annual Maintenance Charges) | lifetime 0Rs 999 + taxes |
| Trading AMC (Annual Maintenance Charges) | Free |
| Margin Money | Zero |
| Offline to Online Charges | Yes |
| Depository | NSDL |
Wisdom Capital Brokerage Charges
One of the main factors to consider when choosing a stockbroker is the brokerage charges. Wisdom Capital brokerage charges for various segments are as follows:
- Equity delivery: Wisdom Capital offers free brokerage for equity delivery trades. This means you can buy and hold stocks without incurring any brokerage charges.
- Equity intraday: For equity intraday trades, Wisdom Capital charges a flat rate of 0.01% per order.
- Equity futures: The brokerage charge for equity futures is also Rs 9 Per Order per order.
- Equity options: Wisdom Capital charges Rs 9 Per Order per order for equity options trading.
- Currency: For currency futures and options trading, Wisdom Capital charges Rs 9 Per Order per order.
- Commodity: The brokerage charge for commodity trading is Rs 9 Per Order per order.
Equity Brokerage Charges
| Equity Brokerage Charges | Wisdom Capital |
|---|---|
| Equity Delivery Brokerage | 0.01% |
| Equity Intraday Brokerage | 0.01% |
| Equity Futures Brokerage | Rs 9 Per Order |
| Equity Options Brokerage | Rs 9 Per Order |
Currency Brokerage Charges
| Currency Brokerage Charges | Wisdom Capital |
|---|---|
| Currency Futures Brokerage | Rs 9 Per Order |
| Currency Options Brokerage | Rs 9 Per Order |
Commodity Brokerage Charges
| Commodity Brokerage Charges | Wisdom Capital |
|---|---|
| Commodity Options Brokerage | Rs 9 Per Order |
Wisdom Capital Other Charges
In addition to brokerage charges, there are other charges to consider:
- Minimum brokerage charges: Wisdom Capital imposes a minimum brokerage charge of Zero.
- Transaction brokerage charges: A customer incurs transaction brokerage charges, which amount to 0.00300% of the total turnover.
- SEBI turnover charges: Securities and Exchange Board of India (SEBI) levies turnover charges, which are 0.0002% of Total Turnover.
- Stamp duty charges: Stamp duty charges differ based on the state and the specific category of asset.
- GST charges: A GST of 18% of (Brokerage + Transaction Charges) is applied to brokerage and transaction charges.
- STT (Securities transaction tax): Wisdom Capital charges 0.0126% of Total Turnover of the total turnover as STT.
- Call and trade charges: If you place orders through call and trade, Wisdom Capital charges Rs 20 per executed order.
| Other Brokerage Charges | Wisdom Capital |
|---|---|
| Minimum Brokerage Charges | Zero | Transaction Brokerage Charges | 0.00300% | SEBI Turnover Charges | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | Call and Trade Charges | Rs 20 per executed order |
Wisdom Capital Equity Leverage
Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Wisdom Capital:
| Equity Leverage | Wisdom Capital |
|---|---|
| Equity Delivery | Upto 2x | Equity Intraday | Upto 20x 0MIS, BO & CO | Equity Futures | Upto 4x MIS, BO & CO | Trade Nifty & Bank Nifty @ 40000 approx | Equity Options | Upto 4x MIS, BO & CO |
Wisdom Capital Currency Leverage
| Currency Leverage | Wisdom Capital |
|---|---|
| Currency Futures | Upto 4x | Currency Options | Upto 4x |
Wisdom Capital Commodity Leverage
| Equity Leverage | Wisdom Capital |
|---|---|
| Commodity | Upto 4x MIS, BO & CO |
Wisdom Capital Offers
Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:
| Offers | Wisdom Capital |
|---|---|
| Free Stock Trading Account | Yes | Free Demat Account | Yes | Flexible Plans | Yes | Brokerage Discounts | Yes | Happy Hours | No | 1 Month Free Plan | No | Holiday Offers | Yes | Referral Program | Yes | Zero Brokerage on Loss Trades | No |
Wisdom Capital Features
- Full Service Brokers:
Wisdom Capital is a leading online stock broker in India that offers discount brokerage services to retail investors. It charges a flat rate of Zero per order executed, regardless of the trade size, segment, or exchange.
- Range of Investment Products:
Wisdom Capital is a one-stop shop for various financial investment products. It allows investors to trade in equity, commodity, and currency at BSE, NSE, and MCX. Additionally, it offers investment options in mutual funds, gold, peer-to-peer lending, insurance, and US investments.
- Subscription Plans:
Wisdom Capital provides three subscription plans: Basic pack, power investor pack, and ultra trader pack. These plans offer different benefits, including reduced brokerage fees, free trades, research advisory, and dedicated customer support.
- Research and Advisory Services:
Wisdom Capital stands out by offering exhaustive research and advisory services. It provides short-term and long-term investment ideas, derivative strategies, and portfolio-based investment ideas. The platform also offers a portfolio analyzer tool to analyze the performance of your investments.
- Margin Funding:
Wisdom Capital provides margin funding services. These enable you to make partial payments for your purchases in the cash segment. The balance is funded by Wisdom Capital at a nominal rate.
- Mobile Trading App and Trading Platforms:
Wisdom Capital provides a user-friendly mobile trading app, a web-based trading website, and an installable trading terminal. These platforms are built on the latest technology and offer seamless trading experiences. The mobile app allows trading, robo-advisory, and access to various investment options.
- Demat Account Services:
Wisdom Capital offers demat account services through its membership with CDSL. It has been recognized as a premier depository participant by CDSL.
- Low Charges:
Wisdom Capital is known for its lowest charges in the industry. It charges a flat fee of 0.01% per order executed, and the platform also offers value-add packs for additional benefits. Additionally, 5Paisa provides free account opening and brokerage-free mutual funds.
- Algo Trading and Robo Advisory:
Wisdom Capital provides algo trading services and robo-advisory to its customers. These services help automate trading strategies and offer personalized investment advice based on risk profiles and return expectations.
- Customer Support:
Wisdom Capital offers dedicated customer support for its subscribers. The power investor pack and ultra trader pack include free customer support services.
| Features | Wisdom Capital |
|---|---|
| Equity Delivery Trading | Yes | Equity Intraday Trading | Yes | Equity Futures Trading | Yes | Equity Options Trading | Yes | Currency Trading | Yes |
| Commodity Trading | Yes | IPO (Initial public offering) | Yes | Stocks Suggestions | No | Robo Advisory | No | PMS (Portfolio Management Services) | No |
| Trading Institution | No | Trading Exposure | Upto 4x | Mutual Funds | Yes | SIP (Systematic Investment Plan) | Yes | Forex Trading | No | Banking | No | Insurance | Yes |
Wisdom Capital 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.
| Services | Wisdom Capital |
|---|---|
| Fundamental Reports | Yes |
| Research Reports | Yes |
| Company Reports | No |
| Annual Reports | No |
| Company Stock Review | No |
| Free Stock Tips | Yes |
| IPO Reports | Yes |
| Top Picks | Yes |
| Daily Market Review | Yes |
| Monthly Reports | Yes |
| Weekly reports | Yes |
| Offline Advisory | Yes |
| Relationship Manager | Yes |
Wisdom Capital Trading Platforms
The Wisdom Capital 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.
Wisdom Capital Trading Platforms
| Desktop Trading Platforms | Wisdom Capital |
|---|---|
| Windows | Yes |
| Mac | Yes |
| Desktop Browser | Yes |
Wisdom Capital Mobile App
The Wisdom Capital 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 App | Wisdom Capital |
|---|---|
| Mobile Browser | Yes |
| Android App | Yes |
| iOS App | Yes |
| Windows App | No |
| Other mobile os | No |
Wisdom Capital Web Trading
For web-based trading, Wisdom Capital offers a powerful trading website known as Wisdom Capital 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.
Wisdom Capital Trade Terminal
Wisdom Capital 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.
Wisdom Capital Customer Support
- Relationship manager: Yes, Wisdom Capital does offer a dedicated relationship manager for customers. However, they provide other channels for support.
- Offline trading support: Yes, Wisdom Capital does offer offline trading support. All trading activities are conducted online.
- Online trading support: Wisdom Capital provides online trading support to customers. Their trading platform is accessible via mobile app, web browser, and desktop application, allowing customers to trade conveniently.
- 24*7 support: Wisdom Capital provides extensive customer support to assist customers during regular business hours. You can easily connect with their dedicated support team for any assistance you may need.
- Email support: Customers can contact Wisdom Capital’s customer support team via email for assistance. They provide an email address where customers can send their queries and concerns.
- Chat support: Wisdom Capital does not currently offer chat support as a customer service channel. However, customers can reach out through other available channels.
- Toll-free number: Yes, Wisdom Capital does provide a toll-free number for customer support. Customers can use this number to seek assistance conveniently.
- Support branches: Wisdom Capital does not have physical support branches. All customer support is provided through remote channels.
| Customer Support | Wisdom Capital |
|---|---|
| Relationship Manager | Yes |
| Offline Trading | Yes |
| Online Trading | Yes |
| 24 * 7 Support | No |
| Email Support | Yes |
| Chat Support | No |
| Toll free number | Yes |
| Support Branches | 0 |
Wisdom Capital 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 Wisdom Capital.
| BSE Complaints | Wisdom Capital |
|---|---|
| BSE Complaints | 0 |
| BSE Resolved Complaints | 0 |
| Percentage of resolved BSE complaints | NaN % |
| NSE Complaints | 0 |
| NSE Resolved Complaints | 0 |
| Percentage of resolved NSE complaints | NaN % |
| BSE/NSE Complaint vs. Resolved Percentage | NaN % |
Conclusion
In conclusion, Wisdom Capital 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, Wisdom Capital can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.