Edelweiss: Overview
Edelweiss Broking Ltd. is a full-time broker company operating in the capital market for more than a decade. It is part of the Edelweiss Group, one of the leading companies that provide financial services in India. It’s products and services span multi-asset classes and caters to a diversified set of clients including corporations. individuals and organizations. Claiming to be your wealth advisor, Edelweiss has earned several awards in the category of best broking and digital services over the years.
Edelweiss Broking Ltd: An Overview
Founded back in 1995, The Edelweiss group commenced the commodity trading business in 2008. It is a Mumbai-based share broking company with a client base of 12 lakh spread across 200 locations in India. One of the biggest milestones of Edelweiss was the acquisition of The Jaypee Morgan Asset Management Company(AMC) in 2016. It is a registered broker with the NSE, BSE, MCX and NCDEX exchanges that deals with multiple asset classes like Equity, Derivates, Currency, Mutual Funds, Gold ETFs, and IPOs.
The stockbroking company has a substantial presence in retail segment businesses as well, namely, housing finance, insurance, and retail financial services. The Company possessed an asset base of approximately 59,400 crores as of last year and had a net profit of Rs.43,510 crore as of March 2019. It offers free Trading+Demat account and also occasional special discount offers and subscriptions.
Edelweiss Brokerage Plans
Mainly, it offers 3 plans to its client, namely:
1. Edelweiss Lite
It is a discount brokerage plan for the tech-friendly people with little interference from the broker. This plan provides all the trading tools online on a flat fee of Rs.10 per transaction across all the exchanges it is listed with. It is comparatively cheaper than other full-time brokers.
2. Edelweiss Elite
It is an Advisory inclusive plan wherein personalized relationship managers are provided by the company to assist you with all the work in exchange for a percentage of trade value for brokerage.
3. Advanced Subscription Plan
It is a Pre-paid plan wherein the trade pays 12 month’s brokerage lump-sum upfront to avail special benefits like services of relationship manager, higher Leverage, free pieces of training, and lower brokerage charged as compared to other plans. It is suitable for heavy traders.
Edelweiss Trading Tools and Platforms
Edelweiss broking provides a set of 4 varied platforms for users to choose and trade according to their convenience.
1. Edelweiss Website
when you type www.edelweiss.com the web portal of the company appears enriched with various trading and investment products for you choose from. It is a free-access website with portfolio tracking, live updates, news, and payment gateways. In addition to this, The website has a ‘Quick Trading Toolbar’ enabling instant trade with a click. This toolbar keeps a track of all the recent activities done by the trader.
Another significant feature of the website is its low-bandwidth counterpart or Mobile WAP that is easy to access on a smartphone and trade on-the-go.
2. Edelweiss Xpress
It is a browser-based trading application proving a Terminal-like experience without downloading any software on your desktop. The Java-based browser replicates a trading terminal by providing all necessary features including live streaming and updates. It allows transactions in delivery, intra-day, and T+5 segments directly from the browser.
3. Edelweiss Xtreme Trader
As the name suggests, it is suitable for heavy traders offering customizable interface, shortcut keys for quick actions, instant research, and stock alerts. It is a desktop trading software that needs installation. It also provides advanced charts and technical analysis of stocks.
4. Edelweiss Mobile Trader
‘Mobile trader’ is a free smartphone trading application by the broking company for users who prefer to trade on their mobile phones. It can be used to trade in all the securities the company deals with and comes with additional features of Portfolio monitoring. trade book, order book, researches, holding, and live updates.
Edelweiss Broking has wide online as well as the offline presence and good customer care services.
Edelweiss: Account Opening Process
The account opening process is very simple like other full-service brokers. So let’s have a quick look as to:
How to Open an Account with Edelweiss?
You can visit the edelweiss website and choose the option ‘open an account’.
Once you fill-up the required details, the company executives will approach you.
Or, you can simply drop off your number on Edelweiss customer care and the further will be taken care of.
Edelweiss: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹0 |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹500 p.a. (For 1st year: Free) |
Edelweiss: Commodity Trading
Commodities trading includes trading hard assets like Gold, Silver, Aluminium, Crude oil, etc. Commodities trading is different from Equity trading. In commodities, you have to only trade in derivatives (Futures & Options). Let’s look at the details of commodity trading in Edelweiss.
Edelweiss:
Edelweiss Broking Limited is a subsidiarity of the Edelweiss group. It is a broking branch that was founded on February 2008. Edelweiss Broking Limited is a Full-Service broker that provides many services to its clients. You can trade and invest in, Equity, Commodity, Currency, Debt, IPO, Mutual Fund, etc with Edelweiss Broking.
Commodities Trading:
Edelweiss lets you trade in commodities after you open a Demat account with them. To start trading in derivatives you need to submit some basic documents. These include Identity proof, Address proof, and Income proof. After submitting the following documents you will be eligible to trade in commodities and other derivatives.
Charges:
To start with the basics, the account opening charges are Free with Edelweiss. You just have to pay an Annual Demat Maintenance Fee (AMC) of Rs 300 for the “Lite Plan” and Rs 500 for the “Elite Plan” from the second year.
Now that you know the charges to open an account, let’s see the brokerage charges which is a substantial part when it comes to trading.
Brokerage:
Edelweiss currently offers 2 plans for its clients to chose from. The first is the “Lite Plan” which offers the brokerage rates of a discount broker. The second is “Elite Plan”. This plan consists of all the benefits of a Full-Service broker.
- The brokerage for commodities in the Lite Plan is Rs 10 per executed order for commodities Futures and Options.
- On the other hand, the brokerage in the “Elite Plan” for trading in commodities is Rs 0.030% in Commodities Futures and Rs 20 per lot in Commodities Futures.
Conclusion:
Comparing the brokerage of the two plans, it can be said, if you want to trade in Commodities the “Lite Plan” would be more suitable. Traders will have to pay a lot more if they trade with the Elite Plan.
Edelweiss: Currency Trading
Trading in currencies is a type of trading and many brokers offer currency trading. Edelweiss Broking Limited is one of the brokers who let its client trade in currency, let’s know about the broker first.
Edelweiss Stock Broker:
Edelweiss Broking Limited is one of India’s oldest financial service-providing companies. It is a Mumbai based Full- Service broking company that was incorporated in 2008. It is registered with the NSE (National Stock Exchange), BSE (Bombay Stock Exchange), and the MCX Stock Exchange (Multi Commodity Exchange).
Edelweiss allows its clients, invest and trade in Equity, Derivatives, Mutual Funds, Commodities, Currency, etc. It has an active client base of more than 1.59 clients.
Currency Trading in Edelweiss:
As mentioned earlier Edelweiss allows to trade and invest in currencies to all its clients. Before trading in currencies every user has to submit certain documents in order to start trading in currencies. They include 6 month Bank statement or 3 month Salary slip. Post submission and verification, you will be allowed to trade in currencies in Edelweiss.
Charges:
The account opening charges in Edelweiss is Nil and the AMC (Annual Maintenance Charge) for the first year is also free. From the second year, the AMC charges are Rs 500 + GST.
Now coming to brokerage, Edelweiss offers 2 plans,
- “Lite Plan”
- “Elite Plan”
Firstly In the “Lite Plan” which is also a discount brokerage plan, a fixed rate of brokerage is charged for every type of order.
Edelweiss charges Rs 10 per executed order for Equities, Derivatives. Therefore the charge to trade in Currency is Rs 10 per traded lot in the currency derivatives (Futures & Options).
The second type of plan “Elite Plan” is under the “Full-Service” plan where the user receives some additional benefits at a higher cost of brokerage. The brokerage charges are 0.30% for equity delivery. 0.03% for equity intraday and intraday futures. Rs 75 per lot for equity options. 0.02% for currency futures and Rs 20 per lot for currency options. Therefore in the Elite plan you will have to pay Rs 20 per lot for Currency options and 0.02% of the turnover for Currency Futures.
Conclusion:
For active currency traders, the “Lite Plan” will be more useful as the brokerage is significantly less. The Elite plan comes with some perks like Online-Offline trading, Personal relationship manager, Free research, etc, but the Lite plan offers more value in terms of low brokerage.