Please share your experience with wisdom capital, Tradeplus online and dhanistock from Indiabulls

I am skeptical but I would like to know about your experiences with following fixed brokerage plans.

  1. Wisdom charges Rs 999 per year for unlimited trades.
  2. Tradeplus charges Rs. 99 per month for unlimited trades.
  3. Indiabulls dhanistocks is 500 Rs. unlimited per month.
  4. Kotak FIT - Free intraday trading - Rs. 999 per year.

So what is your experience …and what is the risk …is our money safe with them or we have to very watchful as they might have creative ways to make money?
@maddy_Des @ksksat @portfolioplus911

I haven’t checked the wisdom page lately but looked at the Tradeplus site. You haven’t gone to the other charges section which is beyond the rosy front page zero brokerage stuff.

Other charges : Call & Trade : Rs.75/- per day +GST (Applicable also on Admin Square off orders for Margin Shortfall / Debits / MIS positions)

  • Monthly SMS charge of Rs.99 is applicable only if you are subscribed to any one of the Zero Brokerage monthly Plans and if there is any trade in the account during the month.

Please don’t go just for the flat monthly plans but also look at the other charges.

The minimum charges per month amounts to
Equity Futures : 799
Equity Options : 99
Currency F&O : 99

SMS Charges : 99
If you subscribe to their trading platform (other than the free one) its another 499 per month.

So the minimum charges amount to 1600 minimum. :anguished:

Also the DP charges while selling is not fixed at 15 RS but The charges are 0.02% of transaction value, subject to a minimum of 15 & maximum of 200 per transaction.

So my suggestion would be if you really want to open account with them first of all calculate your brokerage expenses with your current broker (just the brokerage because other charges would be same with others like STT/ETT, stamp duty etc which make the bulk of expenses) and see if your brokerage amount cross the 1600 PM thresh-hold and make the decision. Also the DP charges with them is not fixed so also keep that in mind.

Also someone actually trading with them would be more helpful regarding the actual charges Per month based on their experience. :grin:

1 Like

That is what my title says …please share your experience.
FYI I did go through all details you mentioned. Btw you did missed one of their higher charge which is clearing member charge - which is very high

It depends on what you want.
When I used to trade with ICICI Direct my requirement was immense leverage. They used to charge me 20 rs per lot and other charges were also higher.
As per my strategy leverage was important and such charges were okey. So I traded with them.
As soon as I got the whiff of the impeding changes I ditched them.

If you wanna save brokrage the whhy not go for finvasia.
Everything is zero there. Quite decent guys.
Ask the sustenability question to them only.

1 Like

I asked them but they gave an example of facebook - i.e. Facebook is free in the hands of users but they earn money through ads and more …they also said something about exchange giving rebates to brokers …more the turnover broker brings to exchanges - more they get the rebate/incentive …They did not elaborate anything further.
Do you trade with Finvasia currently without any fear of loosing your capital or any other issues?

1 Like

I always trade w/o having any fear.
I have 9 accounts with 7 brokers.
I think @nithin once talked about it. The charges get reduced with volume. The advantage of which they wont transfer to clients.
But I think they are not big enough to get such rebates.

1 Like