Edelweiss Financial Services Ltd. is Mumbai based diversified financial group involved in 5 different businesses which includes capital market, asset management, credit, commodities and insurance started in 1995. Edelweiss offers real time trading opportunities on the BSE, NSE and MCX exchange.
They are a full service broker and provide facilities in all major asset classes for investment and trading in Equity, Mutual Funds, IPOs, F&O and Currency. They also provide advisory to their customers on the basis of analysis and research wing which provide relevant info.
Edelweiss’s ground network includes 5,937 employees based out of 248 offices (including eight international offices) in 128 cities. So if you are from Tier 1 and Tier 2 cities, most probably you should be able to find there office in your city.
Edelweiss Brokerage Service
They provide both trading and Demat account. You need Demat account if you want to take delivery of any stock. You can find more about what is Demat account here.
Account opening Charges
They charge account opening charge and an Annual Maintenance charge yearly to keep account with them. The charges are as follows:
Trading Account Opening Charges (One Time): Rs 750
Demat Account Opening Charges (One Time): Rs 0
Demat Account Annual Maintenance Charges (AMC): Rs. 500 (Free for 1st year with trading account.)
Commodity Account Opening Charges (One Time): Rs 400
Based on your trading frequency and volume, you can select brokerage plan. Read the charges below and choose which will best fit your need. There is also a chance of negotiation and if you do it correctly, they can provide you a better brokerage rate.
Edelweiss offers following plans:
- Standard Brokerage Plan
This basic brokerage plan is offered to beginners or anyone who is staring to invest for the first time.
|Standard Brokerage Plan 2016-17|
|EQUITY FUTURES||0.03% of Turnover -Negotiable|
|EQUITY OPTION||Rs.50/lot -Negotiable|
|CURRENCY FUTURES||0.03% of Turnover -Negotiable|
|CURRENCY OPTION||Rs.50/lot -Negotiable|
|COMMODITY||0.03% of Turnover -Negotiable|
For example:- If a person trade for Rs.100000 in equities, then his brokerage will be rs.300 + 14% service tax on brokerage which will bring your brokerage to around Rs 350 which is almost .35%. Do remember that this brokerage is charged on both side of trade, so in reality if you buy and sell, the actual brokerage is almost .70%
- Advanced Brokerage Plans(ADB Plan)
Edelweiss offer flat rate plans to high frequency trader or experienced investor. These plans are valid from 3 months to 12 months and required customer to pay upfront subscription fee in advance. This plan offers up to 66% on brokerage.
As per Advanced brokerage plan of edelweiss:-
- Subscription fee includes account opening fee of 750/-.
- User can have plan by paying subscription charges.
- These subscription charges are used by individual itself as if any individual having Rs.2500 plan of edelweiss then he have to pay that amount and later whenever he perform any trading then brokerage will be deducting from the subscription amount.
- When subscription amount ends and individual did overutilization of subscription amount then the extra amount will be deducted from one’s ledger.
- Charges during the subscription charges are less in % while after that brokerage will be changed.
- After ending of subscription amount, one has to pay brokerage as per post utilization charges.
- Here PRO-01, PRO-02 and so on are plan codes and services vary as per the plans.
- Lifetime Validity Plan
These are ADB plans that have a validity of 15 years.
Edelweiss’s Trading Platforms:-
1. Edelweiss Xpress – This is a browser based platform which you can use for trading online without installing any software on your computer.
2. Edelweiss Xtreme Trader – This is a terminal based trading platform which you can use for trading. It provide advanced charting and other facilities. The only drawback is that you can only use it on a PC on which you have it installed. So most of the time, you cannot use it from your office computer.
3. Edelweiss Mobile Trader – This is a mobile based platform which you can download from app store or play store. It provides decent charting functionality and order placement on the go.
Margin provided by Edelweiss:-
They provide large margin for clients who trade with them. The exact margin provided are as follows:1
- Equity:- Upto 20 times for Intraday/Upto 4 times for Delivery.
- Equity Futures:- for Intraday Upto 3 times
- Equity Options:- No Leverage for buying,
Shorting for intraday upto 3 times.
- Currency Futures:- for Intraday Upto 2 times
- Currency Options:- No Leverage for buying,
Shorting for Intraday upto 2 times
- Commodity:- for Intraday Upto 3 times
Edelweiss is one of the big brokers in India but I would suggest that before deciding read our review on Top 10 brokers in India and then decide which will best fit your needs.