Trade Smart Online Review 2020 & Brokerage Charges

Trade Smart Online Review

Trade Smart Online Review 2020

Based out of Mumbai, TradeSmart or Trade Smart Online (TSO) is an online discount broker backed by VNS Finance. It offers trading services in stocks, commodity and currency segments. VNS Finance, the sponsored company is an established name in the field of trading and has been in the market since 1994. It offers brokerage services in Stock, Commodity & Currency market segments and trades through franchisee and sub brokers.

With more than 20 years of market experience, the discount broker is well versed with the various aspects of discount broking. Recently, TradeSmart has launched a couple of margin products. If trading exposure is what you’re looking for, TradeSmart is surely a perfect choice.

At present, the discount broker has a client base of around 22,000 with a daily turnover of Rs. 2500 crore. With TradeSmart, you can choose to trade across various segments including:

  • Equity
  • Derivatives
  • Currency
  • Commodities
  • Depository

Diversity is one great aspect of this discount broker as it has launched a wide range of brokerage plans to meet the investment needs of a variety of clients. From percentage-based plans to trade level flat-rate and unlimited monthly trading plans, there is something for everyone. It means investors have high level of flexibility in choosing a specific plan based on their trading pattern, frequency and capital.

The owner of TradeSmart is one of the noted personalities, Mr. Vijay Singhania who carries over 30 years of industry experience as a Chartered Accountant.

Mr. Vikas Singhania is the Executive Director at TradeSmart and brings a high level of technological understanding to the firm’s trading services.

Technological experience is one big advantage with TradeSmart and gives it a competitive edge in the marketplace.

TSO has entered into an association with Global Financial Datafeeds LLP (GDFL) and have come up with an integrated version of their trading platform, NEST with latter’s application – Amibroker which enables the users to pursue Algo Trading.

Membership Information

Brokerage Plans

TradeSmart offers basically 3 plans on the basis of the expected trading volume.

  1. Power Trading Plan – For big volume traders
  • 15 per executed order, irrespective of the size of the trade
  • Perfect for traders with less frequency but bigger trade size
  • Get intraday exposure of up to 30x on Equities, 7x on F&O, 3x on Currency and 6x on
  • Commodities
  • Margin against shares
  • No Minimum commitment
  1. Value Trading Plan – For lesser volume traders
  • Brokerage: Intraday Cash, Futures, Currency, Commodities » 0.007%, Delivery » 0.07%, Options » Rs 7 per lot
  • Suited for traders with lesser volume
  • Get intraday exposure of up to 30x on Equities, 7x on F&O, 3x on Currency and 6x on
  • Commodities
  • Margin against shares
  • No Minimum commitment
  1. Average Volume Plan
  • Brokerage: Rs 15 per executed order
  • Up to 30 times on equities, Up to 5 times on F&O, Up to 3 times on Currency & 5 times on Commodities
  • Up to 4 times of equity deliveries
  • No minimum commitment

Process to Open an account at Wisdom Capital

You can open an account with Trade Smart Online in 3 ways-

  1. Online Account Opening

It is the quickest option to open an account with Trade Smart Online.

Note: Aadhar card with your current mobile number registered is mandatory for this account opening process. You would also need to provide a soft copy of a canceled cheque and bank statement for the last 6 months.

Here are the steps to open an online trading account:

    • Visit TradeSmart’s website
    • Click link ‘Online Account Opening’
    • Enter Name, Email and Mobile Number to register
    • Fill in your basic details i.e. PAN Number
    • Verify your information pulled through Central KYC portal
    • Upload required documents
    • Submit the account opening application.

It’s done. Your account opening form is now authenticated by the TSO team and your account will be opened in just a couple of hours.

  1. Download Account Opening Forms

If you are not able to open your trading account opened online, you can download the account opening form from the website, take a print out of and fill all the required details.

Send the duly filled form along with self-attested copies of the documents and a cheque of opening balance through courier.

  1. Request Account Opening Forms via Courier

You can also request for an account opening form from Trade Smart Online through courier. Fill the form and send it along with self-attested copies of the documents and a cheque of opening balance through courier to address given in the form.

Although TradeSmart permits investors to individually open a trading account and link it with their existing Demat account, but it won’t allow them to sell the shares using the Trade Smart Online account. This is because the company currently doesn’t offer services for delivery selling from stocks held with another DP. You need to transfer the securities to be able to sell it using TSO’s trading account.

Documents Required

Your need to have following documents to open an account with TradeSmart.

  1. AADHAR Card
  2. PAN Card with photo
  1. Address Proof- Driving License, Passport, Ration card, Latest Telephone or Electricity Bill, Aadhar Card, Government issued ID card etc.
  2. Latest 6 Months Bank Statement (For F&O/Currency/Commodity A/C)
  3. A Cancelled Cheque with MICR no. & IFSC code mentioned on it
  4. Passport Size Photo

TradeSmart Trading Platforms

TradeSmart offers a range of trading platforms to meet the varied trading needs of its clients. From desktop-based to mobile app, there are various options available for investors on TradeSmart. Let’s get to know them one by ne.

NEST Trader

NEST Trader is the most typicaly trading platfom fuelled by Omnesys technologies. TradeSmart has the license to use it for its trading services. The software need to be downloaded and installed on a computer system.

You need login credentials to use this software that will be provided at the time of account opening.

  • Interactive charting with multiple indicators at an intraday, comparative and historical level
  • Market watch to go with order placement and risk management
  • Alerts and notifications as per defined by the user
  • Hourly statistics and heat maps for rapid technical analysis and decision making
  • Great speed and performance across various application features

NEST is one of the most trusted and long-standing trading platforms available today. However, the user experience of the platform can be improved to some extent.

TRADE SMART ONLINE SINE MOBILE APP

TradeSmart has launched a new mobile app – SINE that has the following features:

  • Trading across segments such as Equity, Futures and Options, Currency Derivatives and Commodities possible through the mobile app.
  • Multiple types of market scanners and options strategies available within the mobile app
  • For detailed analysis, you have the option to use technical indicators such as MACD, Moving Avg, RSI, Bollinger Bands, Parabolic SAR
  • Fund transfers to 28 banks allowed
  • Additional features such as Market Watch, Index watch, Interactive charts, Market AnalyticsNSE NOW

However, there are various concerns that you should be aware of like:

  • Limited number of features
  • App hangs more often, particularly if you’ve a basic configuration mobile device
  • Some uncommon issues linked to login functionality seen

NOW

Similar to NEST, NOW refers to a string of trading platforms across Desktop, Web and Mobile. NOW is backed by NSE itself and Trade Smart Online has been allotted a license for its clients to use the same. Again, clients can get into trading either through the trading terminal by downloading and installing the EXE based version or can directly browse through the web version.

  • NOW also facilitates a mobile app version which carries certain features like:
  • Real-time streaming quotes available instantaneously
  • Extremely user-friendly experience with top usable features

The app has been downloaded by more than 50,000 clients and is rated at 4.1 at the Android Play store.

TRADE SMART ONLINE SPIN

Online Spin is TradeSmart’s its own initiative that intends to deliver more value to investors. It is basically a terminal-based software that can be downloaded and installed on any desktop or laptop. This is clearly a sign that the discount broker is poised to leverage on technological advantage on its own feet.

The features of Trade Smart Online Spin are:

  • Direct trading from charts with option to view, change, cancer and order trades
  • Advanced charting with more than 80 inbuilt indicators and 10 different charting layouts such as Bar, Candle-stick, Renko etc.
  • Built-in pattern detection and ability to recognize 19 different pattern themes
  • Code your own strategy to power up your own strategy employing visual audio

TradeSmart Customer Care

Trade Smart Online offers customer services to its clients through following communication channels:

  • Phone
  • Email
  • Social Media
  • Online ticketing support

From the above information, it gets clear that there are limited number of customer service touchpoints and the overall quality of customer service is not good. There is a strong need for TradeSmart to pay great focus on this part of the game. The customer service professional must show high level of commitment and ownership towards the resolution of customer query.

TradeSmart Pricing

The diversity in pricing is what makes TradeSmart a game changer. Let’s get to know them below.

Account Opening Charges

Demat Account Opening – Rs. 200

Trading Account Opening – Rs. 200

Demat Account Annual Maintenance – Rs. 300 (First Year)

Trading Account Annual Maintenance – Rs. 0

 

Online brokerage

The brokerage charges for equity, commodities and currency derivative trading are as below:

Segment Brokerage Fee
Flat Monthly Fee
Equity Delivery ₹15
Equity Intraday ₹15
Equity Futures ₹15
Equity Options ₹15
Currency Futures ₹15
Currency Options ₹15
Commodity Futures ₹15
Commodity Options ₹15

 

Segment Brokerage Fee
Flat Monthly Fee
Equity Delivery 0.007%
Equity Intraday 0.007%
Equity Futures 0.007%
Equity Options ₹7 Per Lot
Currency Futures 0.007%
Currency Options ₹7 Per Lot
Commodity Futures 0.007%
Commodity Options

 

TradeSmart Demat Account Charges

Sr Particulars Charges
1 Account Opening Charges ₹500
2 Dematerialisation charges ₹500 per certificate
3 Demat transaction charges ₹15 + Service tax
4 Offmarket transfer (DP) ₹25 + Service tax
5 Inter DP transfer ₹25 + Service tax
6 Trade on phone ₹20 + per executed order plus service tax
7 Physical contract note / other statements etc ₹20 per contract note + courier charges
8 Demat AMC ₹300 + Service tax
9 Cheque dishonour charges ₹200 per instance
10 NEST Instant fund transfer charge ₹8 + service tax
11 Third party fund transfer charges
For refund in 2 working days ₹400
For refund in 15 working days ₹200

 

Transaction Charges

Segment Transaction Fee
Equity Delivery 0.0035%
Equity Intraday 0.0035%
Equity Futures 0.0024%
Equity Options 0.0715%
Currency Futures 0.00165%
Currency Options 0.06%
Commodity 0.0039%

 

TradeSmart Margins

Within the margin segment, the discount broker has launched a new concept – Equimax. Under this, you can enjoy leverage of up to 4 times. It simply means you can trade up to Rs. 40,000 with a primary capital of Rs. 10000 itself.

However, to use this, there are certain things you need to be aware of:

  • It is presently available in the NSE Cash segment only
  • Applicable for the value (o.007%) and power plans (Rs. 15 per executed trade)
  • Annual subscription charge of Rs. 1000
  • Account needs to be settled once in a quarter
  • For this, you need to have Rs. 25,000 as minimum ledge balance with a limit of Rs. 20 lakh available funding per client

Equimax is certainly a revolutionary product for those who have knowledge of complexities and risks associated with the concept of exposure.

TradeSmart also offers MAS (Margin Against Shares), which is another margin related offering and enables you use high leverage values by keeping shares as collateral. Its main features are:

  • The collateral value of shares will be determined with a hair-cut
  • The list of scrips ready for pledging under MAS has nearly 850 stocks
  • Cost of pledging is fixed at Rs. 60 per scrip without any limit on the number or stocks
  • Similar to Equimax, the offer is applicable for the value (0.007%) and power plans

Online Fund Transfer

TradeSmart offers 3 ways to transfer funds to your trading account.

  1. Payment Gateway – Under this option, you can quickly transfer funds from your bank account to your trading account. This option can be utilized through NEST and NOW trading applications offered by TradeSmart.
  2. NEFT/RTGS – Very much similar to NEFT for fund transfer, RTGS can also be used to transfer funds to your trading account.
  3. Cheque – You can also drop a cheque to transfer funds, however, this process is quite long.

For payouts, an application can be made through NEST or NOW or the back office. Your withdrawal application will be processed on the same trading day with the NEFT/RTGS service.

Knowledgebase

With an aim to make people learn more about trading and investing, TradeSmart has featured a knowledge base on its website where a user can search for information he wants.

Here, the information is presented in a very streamlined and understandable way so that users can easily get what they really want.

Referral Program

If you’re looking to earn more apart from typical trading, TradeSmart’s refer & earn program is of true worth. The discount broker considers its clients as valuable assets and determined to act in the best interest of same. Under this plan, you can choose to make extra bucks even haven’t placed any trades or when the markets have turned against your favor.

As per the existing offer, the investor who refers is allowed to earn 10% of the brokerage originating from the trades done by the investor who was referred.

The Conclusion

In the low brokerage space, TradeSmart has secured a special place in the eyes of traders and investors. The special brokerage plans are truly different from others. However, sometimes it looks like that TradeSmart is another discount broker that gained popularity in the wave of discount broking in India. A dedicated sales team, attractive brokerage plans, and outsourced trading platforms present a great business opportunity but less responsibility towards investors.

If the discount broker really wants to take a leader in the segment, it should come up with its own technology leadership through various ways.

Another area that needs to be focused on is the customer service. The customer care team should display owner towards resolving the client query.

 

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