| Why Open Account with Edelweiss? | |
| 1 | One of the most reputed research and advisory firm of India |
| 2 | Availability of brokerage plans to suit both investors and traders |
| 3 | Great offline presence with more than 4300 sub brokers across various cities of India |
| 4 | Free Call and trade facility |
| 5 | Good and reliable trading platforms for all the devices |
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| Disadvantages of Edelweiss | |
| 1 | Comparatively higher brokerage charges wrt other brokers |
| 2 | High Account opening and AMC charges |
| 3 | No 3-in-1 demat account |
| 4 | Customer service is not upto the mark |
in this article, I am reviewing Edelweiss Broking Pvt limited which is one of the leading stock broker of India.
About Edelweiss:
Edelweiss group us a leading player in financial service sector and Edelweiss Broking is the brokerage unit of this group.
They were established back in 1995 and provide service in the following sectors through membership they got from BSE, NSE, MCX-SX and MSEI
- Equity
- Derivatives
- Currency
- ETFs
- Mutual Funds
- IPOs
The company enjoys the client base of more than 9 Lakhs and have presence in more than 237 locations in 120+ cities of India.
Their franchise strength is also very good with more than 4000 franchises spread across the country.
Recently, they also acquired some of the noted companies like JP Morgan AMC (India), Anagram capital and Forefront to name a few.
They also have won some of the prestigious awards like ” Best Broker in India” in Finance Asia (Hongkong) country awards. And, ” Best Equity Broking House” (mid-size) at the BSE – D&B Equity Broking Awards in 2015.
Edelweiss Brokerage Charges:
They have understood the requirements of the traders and Investors and hence have created a two different segments. One plan Investors and another for traders. And each in turn have multiple plans
Investor Plans:
| Segment | Plan 1 | Plan 2 |
| Delivery Brokerage (Cash Segment) | 0.45% | 0.55% |
| Intraday Cash & Equity Futures | 0.06% | 0.04% |
| Equity Options | Rs 150/lot | Rs 120/lot |
| Currency Futures | 0.050% | 0.035% |
| Currency Options | Rs 50/lot | Rs 30/lot |
| Account Opening Charges | Rs 750 | Rs 750 |
| Annual Maintenance Charges (AMC) | Free for 1st year, Rs 500 second year onwards | Free for 1st year, Rs 500 second year onwards |
Traders Plans:
| Plan 1 | Plan 2 | |
| Margin Fee | Rs 13,800 | Rs 27,600 |
| Validity Period | 12 Months | 12 Months |
| Delivery Brokerage (Cash Segment) | 0.30% | 0.22% |
| Intraday Cash & Equity Futures | 0.03% | 0.02% |
| Equity Options | Rs 90/lot | Rs 60/lot |
| Currency Futures | 0.04% | 0.03% |
| Currency Options | Rs 50/lot | Rs 30/lot |
| Plan 3 |
Plan 4 |
|
| Margin Fee | Rs 62,100 | 128,800 |
| Validity Period | 12 Months | 12 Months |
| Delivery Brokerage (Cash Segment) | 0.17% | 0.10% |
| Intraday Cash & Equity Futures | 0.02% | 0.01% |
| Equity Options | Rs 40/lot | Rs 25/lot |
| Currency Futures | 0.02% | 0.01% |
| Currency Options | Rs 10/lot | Rs 6/lot |
Edelweiss Trading Platforms:
As with any other stock brokers, Edelweiss provide trading software for all kind of platforms namely desktop, web and mobile. Let us discuss each of them and what each one of them has to offer,
Traders Lounge:
As you can make out, it is a web based platform for trading from them. You dont have to install any software in your system. Infact you can visit any system and open a browser and access your account using this web based platform.
Some of the salient features are:
- Technical Data
- Research reports, broker call
- Live quotes, heat maps
- Charts and more
Xtreme Trader:
It is a terminal based software which you need to install in your system. It can be downloaded from their website anytime. According to me, it is best suited for day traders and others who trade heavily and quickly. It has all the short cuts required to place the orders in fraction of a second.
Some of the salient features are:
- Short cut keys to buy sell etc. One can even customise the shortcut keys as per his/her wish.
- Very quick and high performance software
- Research reports and trading calls are available within the software itself.
- Interactive charts which behave as per the set triggers
- All the other parameters such as background, widgets, alerts etc are also customisable.
Mobile Trader App:
Mobile Trader is the name of their trading app suitable for those who travel a lot. One can carry out all the functions which are available in the web based platforms and mobility is added advantage. It can be downloaded and installed from the playstore.
Some the salient features are:
- 17+ technical indicators to help to determine the potential trade
- Place the order with just 3 clicks including placing all the details
- User Interface (UI) is simple and user friendly
- One can watch market, monitor trends and track holdings apart from other basic orders.
Edelweiss Account Opening Charges:
- Trading Account Opening Charges : Rs 1000 (One Time)
- Trading Account Annual Maintenance Charges : Nil
- Demat Account Opening Charges: Zero
- Demat Account Annual Maintenance Charges : Free for 1st Year and Rs 500 from second Year
Advantages and Disadvantages of Edelweiss:
Following are the Pros and Cons of Edelweiss,
Disadvantages:
- Comparatively higher brokerage charges wrt other brokers
- High Account opening and AMC charges
- No 3-in-1 demat account
- Customer service is not upto the mark
Advantages:
- One of the most reputed research and advisory firm of India
- Availability of brokerage plans to suit both investors and traders
- Great offline presence with more than 4300 sub brokers across various cities of India
- Free Call and trade facility
- Good and reliable trading platforms for all the devices
Edelweiss Review – Final Words:
Being a Full service Stock broker, Edelweiss has many outlets across India. They trying to address the concerns of customers through these outlets. But as more and more clients are rely on the online mode of support, this department of edelweiss has to improve.
Otherwise, they have reasonably comparative brokerage structure and trading platform and one feel no difference from the likes of bigger brokerage firms like ICICIdirect, Sharekhan etc
