[Review] Wisdom Capital Stock Broker 2019 – Margin, Brokerage, Demat

#1 Wisdom Capital Review 2019

Wisdom Capital is India’s one of the best online discount stockbroking firm, incorporated in the year 2013. It is a subsidiary brand of the Ashlar Group of Companies, established in the year 1996.  

The Company Managing Director of Wisdom Capital is Mr. Bharat Bansal. Mr. Deb Mukherjee and Mrs. Sudeshna Mukherjee are the directors of Wisdom Capital.

A company named Devswings was started in the year 2005 by Mrs. Sudeshna Mukherjee and Mr. Pralay Shankar Chakraborty a well known Businessman. 

In the later stage, the management decided to expand the business, so they formed a company named “Wisdom Capital Advisors Private Limited” in the year 2013.

This stockbroker is the best because it provides the highest leverage in all trading segments ( equity, commodity, F&O, currency especially intraday trading.  

Being a discount broker provides the lowest brokerage trading but its leverage offering makes it different from others. This stockbroker not only provides the lowest commission to its consumers but also the trading platform is totally automated and computerized. 

Wisdom Capital plays a masterstroke by providing lifetime Zero Brokerage Freedom Plans (Equities, Futures, and Options at NSE/BSE and commodities at MCX/NCDEX). 

It has around 1100+ Franchisee in India and more than 15000+ satisfied customers.

Wisdom Capital has memberships with NSE, BSE, MCX-SX, MCX, and USE with which it allows its clients to trade across: Equity, Future Trading, Options Trading, Currency Trading, Commodity Trading, Depository Trading, Brokerage Calculator, Margin Calculator.

#2 How To Open Demat Account In Wisdom Capital

This share broker company made the Demat account opening process very simple. There are 3 simple ways to do that:

Wisdom Capital Demat Account Opening Charges

For opening a Wisdom Capital account you need to pay account opening charges and Annual Maintenance Charges (AMC). However, The transaction fees for opening a trading account and a Demat account is totally free of cost and the trading and Demat AMC charges are nominal as mentioned below.

(i) Online Demat Account Opening( Instant Paperless Demat Account)

         Opening online trading and Demat account just in few minutes, no paperwork needed.  The process is totally automated via eKYC and Aadhaar. It is a hassle-free process no printing signing or sending the Physically papers to brokers.

Steps of Instant Account Opening:

(a) Fill all your personal details (Full Name, Mobile Number, Email, PAN Number, DOB, and Adhaar Card Number).

(b) You need to check and validate all your KYC details.

(c) Proper bank account details must be mentioned along with IFSC CODE.

(d) Upload scanned copy of required documents

(e) Paying account opening fees online.

(f) E-sign all your documents and forms using OTP verification.

The process gets completed in just a few minutes if you have all the information and scanned documents handy with you. As soon as you submit the online form if goes for manual verification. 

The account will be opened in the same working day if every document is ok and found genuine.

(ii) Offline Demat Account Opening (Visiting Wisdom Capital Branch offices)

If you are not comfortable in online Demat account opening, no need to worry. Just visit your nearest Wisdom Capital branch or offices in your city and complete the opening process. The discount stock broker has incredible reach over 15 branches across major cities.

(iii) Requesting Account Opening Forms.

If none of the above-mentioned options work for you, no need to worry just call Wisdom Capital customer Service and request for the account opening forms.

After receiving the form simply fill these forms, sign them, attached required documents and send it to Wisdom Capital office Address.

LIST OF DOCUMENTS NEEDED FOR ACCOUNT OPENING

Following documents are needed for opening a trading and Demat accounts:

1.    AADHAR Card

2.  PAN CARD

3.  Address Proof

4.  Latest 6 month Bank Statement with IFSC and MICR code

5.  Canceled bank cheque

6.  Latest Passport photo.

If in case you want to have special trading in derivative segments then additional documents are needed.

CHECKING ACCOUNT OPENING STATUS

After submitting the trading account opening application to any broker (online or offline), it basically takes 2 working days to open an account. 

You can check your application status online via the same Demat account opening website of Wisdom Capital. If you still need any assistance then just call customer services to resolve your query.

ACCOUNT OPENING PDF FORMS

Majority of peoples opt online share market account opening. It is preferred because is it a fast, paperless, error-free, and much more convenient way to open an account.

If anyone finds it difficult to open an account online due to any technological glitch. Then the other option is simply to download the PDF forms from the website, fill and submit it.

#3 Wisdom Capital Products and Services

Products : 

• Demat Account 
• Trading Account
• Brokerage Calculator
• Margin Calculator
• Mutual Funds 
• Call & Trade

Services:

• Future Trading
• Option Trading
• Currency Trading
• Commodity Trading
• Depository Services
• Stock Research Reports
• Customer Support
• Online webinar

Wisdom Capital Membership Details

Also Read : [Review] Sharekhan Broker 2019: Charges, Margin, Pro & Cons

#4 Wisdom Capital Brokerage Charges

Being a discount Broker Wisdom Capital charges commission/brokerage from its customers when buying or selling stocks. 

The brokerage charges for Equity, Commodity, and Currency derivative trading based on different plans of Wisdom capital. 

There are mainly four plans namely Freedom plan, Pro Plan, Ultimate Plan and for other brokers. The charges are different for every plan. The charges are mentioned below.

Basic Plan

Wisdom Capital Different Account Types and Brokerage plan 

Wisdom Capital offers 3 different plans to suit your trading needs:

(i) Freedom Plan

This Wisdom Capital trading plan offers to trade in all segments at BSE, NSE, and MCX for zero brokerage. This plan doesn’t offer any or very little margin/exposure. The plan offers margin/exposure as below:

• Intraday Margin In NSE Cash: Up to 5X MIS
• Intraday Margin In NSE Futures (MIS): 1X
• Intraday Exposure In NSE Options: 1X
• Intraday Leverage In MCX (MIS): 1X
• Delivery Margin In NSE Cash(BTST): 1X

(ii) Pro Plan

This trading plan is designed for professional traders who need higher intraday exposures or margins and advance trading tools. The brokerage charged in the plan is Rs 9 per trade for NSE futures & options, currency & Commodity Trading at MCX. 

For equity cash intraday & for delivery trading 0.005% being charged as brokerages. The plan offers margin/exposure as below:

• Intraday Margin In NSE Cash: Up to 40 X MIS
• Intraday Margin In NSE Futures (MIS): 6X MIS & Up to 20X BO/CO
• Intraday Exposure In NSE Options: 1X Buy & 6X Sell
• Intraday Leverage In MCX (MIS): 6X MIS & Up to 7X in BO/CO
• Delivery Margin In NSE Cash(BTST): Up to 2X

(iii) Ultimate Plan

The ultimate Plan is designed for high-frequency traders who need the highest intraday exposures or margins in intraday & delivery trades. 

The brokerage charged is Rs 15 per lot in options, 0.005% NSE futures, currency & Commodity Trading at MCX. For equity cash intraday and delivery trading 0.007% being charged.

• Intraday Margin In NSE Cash: Up to 60X MIS
• Intraday Margin In NSE Futures (MIS): Up to 15X MIS & Up to 20X BO/CO
• Intraday Exposure In NSE Options: 1X Buy & Up to 15X Sell
• Intraday Leverage In MCX (MIS): Up to 10X MIS & Up to 14X BO/CO
• Delivery Margin In NSE Cash(BTST): Up to 4x

Also Read : Top 15 SEBI Certified Intraday Trading Strategies in 2019

(iv) Other Brokers

This Plan charges Rs 500 to Rs 1000 as account opening fees with one-year validity. The brokerage charged in this plan is Rs 20/trade to 2.00% for Intraday and delivery on Brokerage in NSE Equities, Rs 20/trade to 2.00% for NSE Future and Options, Rs 20/trade to 2.00% for MCX.

• Intraday Margin In NSE Cash: 5X to 10X
• Intraday Margin In NSE Futures (MIS) and CO/BO: 2X to 4X
• Intraday Exposure In NSE Options: No Exposure
• Intraday Leverage In MCX (MIS) and BO/CO: 2X to 4X
• Delivery Margin In NSE Cash(BTST): 2X to 4X

Wisdom Capital Transaction Charges (Exchange Turnover Charge)

The transaction charges are the combination of Exchange Turnover Charge and Trade Clearing Charge. This discount broker is one of the lowest charging companies in India

Also Read: Top 10 Best Dividend Paying Stocks in India in 2019

#5 Wisdom Capital Exposure/Margin/Leverage/Limit

Wisdom Capital Exposure/Margin/Leverage/Limit intraday, delivery, options, currency, and commodities. Read Wisdom Capital exposure limit review.

 Segment                               Exposure Margin

• Equity Delivery         5x time to 40x time
• Equity Intraday         5x time to 40x time 
• Equity Future           5x to 20x time
• Equity Options           5x time to 40x time
• Currency Future           4x time to 15x time
• Currency Options 4x time to 15x time
• Commodity Future 5x time to 20x time
• Commodity Options 5x time to 20x time

You chose the Plan, Different on brokerage plan 

#6 Wisdom Capital Trading Platforms

This broking company provides a huge range of trading platforms to its clients. The main positive side of this firm is that it offers the trading application for all platforms-

i.e. Desktop Based, Web-Based, and Mobile Based. Here are the details of different trading platforms licensed by Wisdom Capital:

(i) NEST TRADER

The NEST is a trading platform licensed through NSE and specially designed for Laptop /Desktop users. It can be easily downloaded and installed without any hassle.  

At its backend, this trading terminal connects with a highly robust server which is very fast in fetching the latest data along with trading provision. Let’s discuss a few main features of this terminal:

• It includes interactive charts with multiple indicators at an Intraday, comparative and historical level.
• The market watching feature is the most prominent one helping in order placement and Risk Management.
• Customized notifications and alerts as per end-user needs and suggestions.
• It provides hourly Statistics and heat maps for quick technical analysis and judgment.

NEST is one of the best mature trading platforms with tons of features, multiple setups for perfect technical and fundamental analysis.

(ii) BSE BOLT

The BSE BOLT is a trading Platform licensed by BSE and specially developed for Laptop/Desktop users. This trading software is very well maintained with regular updates and the usability and functionality are also very smooth and user-friendly. Here are a few main features:

• Live reports with detailed information on highest gainers and losers, advances or declines in stock values with layouts for the last 52 weeks.
• Attractive features like Bulk deals block deals and margin trading.
• Analyzing market trends and price monitoring.

(iii) NSE NOW

It is also a trading platform licensed by NSE, but the only difference is that is a totally web-based application and it is feature loaded and responsive in nature. 

User doesn’t need to download or install the application but can use directly via a web browser. All you need to log in with your registered credentials to start trading with Wisdom Capital.

This application works on every web browser and can be accessed from anywhere be it like desktop mobile tablet or laptop.

(iv)NSE MOBILE APPLICATION

Nowadays maximum users prefer to perform their trading activities via mobile application. This discount broker provides the facility of the NSE Mobile Application.  This application is developed and licensed by NSE itself. The mobile app provides the following features:

• Various trading features and options are available.
• Multiple types of orders are allowed to clients.
• Interactive charts and multiple technical indicators and notifications are provided to the clients for fundamental and technical analysis
• Basic User Interface for easy understanding and usability.

Stats of the mobile application from Google Play Store:

Also Read: StoxKart Review: Platforms, Brokerage Charges, Pro and Cons

#7 Wisdom Capital Registered Office/Branches Address

                                Wisdom Capital, A-38, Sector-67,

                                  Noida: 201301.    Delhi & NCR

#8 Wisdom Capital Customer Ratings

#11 Customer Care Service and Support

Customer Service Availability

Toll-Free Number YES

Email Support           YES

24/7 Support           YES

Phone Support           YES

Live Chat                       YES

#13 Wisdom Capital comparison Another stockbroker competitors

Wisdom Capital is one of the best performing discount brokers of India. But there are many more competitors around like Sharekhan, 5paisa, Zerodha, SAMCO, etc. 

let’s compare each of them with Wisdom Capital in order to find which one is the best value for money from, a consumer point of view.

The table mentioned below holds all the services and its charges by top 5 stock brokers:

Wisdom Capital is one of the best performing discount brokers of India. But there are many more competitors around like Sharekhan, 5paisa, Zerodha, SAMCO, etc. 

let’s compare each of them to find out how Wisdom capital is the best amongst others with respect to Investment Options. The detailed tabled mentioning all Investment options:

              Broker                         Wisdom angel broking MasterTrust    Stoxkart 

• Equity Trading           Yes Yes           Yes Yes
• Currency Trading Yes Yes           Yes Yes
• Commodity Trading Yes Yes           Yes Yes
• Mutual Funds           No Yes             Yes No
• MF SIP                       No Yes             Yes No
• ETF Investment         Yes Yes               Yes Yes
• Banking                     No No                 No No
• Insurance                     No Yes                Yes No

#13 Wisdom Capital Advantages and Disadvantages-Pro & Cons

Wisdom Capital Advantages

• Trading in market segments i.e. NSE Cash, F&O, Currency and MCX Commodities within a terminal.
• For trading at NSE, BSE, and MCX, unlimited monthly plans are available.
• For trading, it includes the website, installable trading terminals and mobile apps at zero cost.
• Zero brokerage charge.
• Trading Nifty with 3000, Crude with 3000 & Mega Gold with 9000 margins are allowed.
• They offer automated Algo trading.
• Very high exposure in all the segments, especially intra-day.
• Lowest brokerage charges with highly flexible plans.
• User-friendly options to choose from which help customers a lot.

Wisdom Capital Disadvantages

• Wisdom Capital doesn’t offer the facility to invest in IPO, FPO, Mutual Funds, FDs, NCDs and Offer For Sale (OFS).
• Costly Algo trading charges at 550/pm
• Old trading platforms need reformation.
• Average Customer service
• Investment and trading products are limited.

#14 Wisdom Capital Complaints received at BSE/NSE

Complaints against the Wisdom Capital share broker by the customers. The summary of the complaints went for resolution.

Exchange   Financial Year   Number of Clients   Total Complaints

NSE               2019       56000                   5

NSE               2018       50000                   15

NSE               2017       30000                     9

#15 Wisdom Capital Sub Broker Commission or Revenue Sharing Model

The association with Wisdom Capital works on the chain of referrals that you create. There are a Direct Referral and an Indirect Partner, and Franchise (whom you have not directly referred), you will be paid a percentage of their brokerage each time they trade.

The company parts away with 25% of the Brokerage from the Direct referral and 25% from the Indirect referrals giving you ample quantum to bank your own trade on.

Earnings from Direct Referrals:

Earnings from Indirect Referrals:

#16 Wisdom Capital FAQs(Frequently Asked Questions)

 Q1. Which type of stockbroker it is?

Ans. It is a discount broker.

Q2. Which stock and commodity exchange I can trade?

 Ans It offers you to trade at BSE, NSE, MCX

 Q3. What is the equity delivery trading charge of W. Capital?

 Ans. Zero(free)

 Q4. Do this offer BTST and STBT orders?

 Yes, both order types are available.

 Q5. How much is the AMC for the trading account?

Zero(0)/free

Q7. Is Demat account mandatory with a trading account?

No, a Demat Account is not mandatory when opening a trading account.

 Q8. What are the brokerage charges for equity delivery trading?

Zero(0)/free

 Q9. Does offer equity (share) trading?

Yes. Allows you to trade in equity segment

 Q10. Can I apply for an IPO through Wisdom Capital?

No. IPO apply 

 Q11. Does offer commodity trading?

Yes. You can trade in the commodity segment.

 Q12. Can I place Good Till Cancelled (GTC) orders though Wisdom Capital?

No. doesn’t allow you to place GTC orders.

 Q13. Does support customer service over the phone?

Yes.

 Q14. Does allow trading in Forex?

No.

 Q15. Is any Brokerage calculator available?

Yes.

 Q16. Can we perform algo trading with Wisdom Capital?

Yes

 Q17. What is the AMC for DEMAT Account of Wisdom Capital?

Rs.250/- p.a. or Rs.700/- Lifetime

 Q18. What is the brokerage charge in FNO (NSE/MCX) for PRO plan?

Rs 9 per trade

 Q19. What is the delivery margin in NSE of Wisdom capital in the Ultimate plan?

Up to 4x

 Q20. What is the DEMAT Maintenance Cost for other brokers?

Rs500 for a lifetime.

 Q21. what is the pledge invocation charge for Demat account?

            Rs 25 per instruction.

 Q22. What is the rejection charge for the Demat account?

            Rs 15 per instruction. 

 Q23. Who is the CMD of wisdom capital?

Mr. Bharat Bansal

 Q24. Who is the director of Wisdom Capital?

Mr. Deb Mukherjee and Mrs. Sudeshna Mukherjee

 Q25. In which year Wisdom Capital was found?

In the year 2013

Q26. What is the intraday margin in NSE cash for Freedom plan?

Up to 5X MIS

 Q27. What is the intraday margin In NSE Futures (MIS)for Freedom plan?

1X

 Q28. What is the Intraday Exposure In NSE Options for Freedom plan?

1X

 Q29. What is the Intraday Margin In NSE Cash for Ultimate Plan?

Up to 60X MIS

 Q30. What is the Intraday Margin In NSE Futures (MIS) for Ultimate Plan?

Up to 15X MIS & Up to 20X BO/CO

 Q31. What is the Intraday Exposure In NSE Options for Ultimate Plan?

 1X Buy & Up to 15X Sell

 Q32. What is the Intraday Leverage In MCX (MIS)for Ultimate Plan?

Up to 10X MIS & Up to 14X BO/CO

 Q33. What is the Delivery Margin In NSE Cash(BTST) for Ultimate Plan?

 Up to 4X

 Q34. What is the Intraday Margin In NSE Cash for PRO Plan?

Up to 40 X MIS

 Q35. What is the Intraday Margin In NSE Futures (MIS) for PRO Plan?

 6X MIS & Up to 20X BO/CO

Q36. What is the wisdom capital Intraday Exposure In NSE Options for PRO Plan?

 1X Buy & 6X Sell

 Q37. What is the Intraday Leverage In MCX (MIS) for the PRO Plan?

6X MIS & Up to 7X in BO/CO

 Q38. What is the wisdom capital Delivery Margin In NSE Cash(BTST) for PRO Plan?

Up to 2X

 Q39. What is the intraday Margin In NSE Cash for Other Brokers?

 5X to 10X

 Q40. What is the wisdom capital Intraday Margin In NSE Futures (MIS) and CO/BO for Other Brokers?

 2X to 4X

 Q41. What is the Intraday Exposure In NSE Options for Other Brokers?

 No Exposure

 Q42. What is the wisdom capital Intraday Leverage In MCX (MIS) and BO/CO for Other Brokers?:

 2X to 4X

 Q43. What is the Delivery Margin in NSE Cash (BTST) for Other Brokers?

2X to 4X

 Q44. What is the name of the application for NSE trading?

NEST TRADER

 Q45. What is the name of the Wisdom capital application for BSE trading?

BSE BOLT

Q46. What is the name web-based platform for NSE trading?

NSE NOW

 Q47. What is the name of the Wisdom Capital mobile-based application for NSE trading?

NSE MOBILE APPLICATION

 Q48. What is earning a percentage of sub-broker for up to 25000?

25%

 Q49. What is earning a percentage of sub-broker for 25001 to 50000?

50%

 Q50. What is earning a percentage of sub-broker for above 50000?

70%

 Q51. How many levels are there for Indirect Referrals?

6 levels