Marwadi Shares: Overview
Marwadi Shares and Finance Ltd. is a financial service provider company operating in the financial markets for almost 3 decades. This full-service brokerage company is one of the leading in India that has been ranked amongst the top 10 in the BSE ratings multiple times.
Marwadi Shares: Overview
Marwadi Shares is a Gujarat based broking firm facilitating broking as well as Wealth management services. They are spread across 104 branches nationwide and employ more than 1400 authorized sub-brokers assisting a client base of 4 lakh plus. Founded in 1992 by Pranav M. Shah, Marwadi Shares and Finance Ltd. is affiliated and licensed to trade in NSE, BSE, NCDEX, MCX security exchanges. The company is also a Depository Participant of NCDL and CDSL.
It facilitates trading in a wide segment of securities ranging from equity, derivatives, currency to mutual Funds, and insurance. They cater to the needs of retail as well as an institutional investor. However, The Marwadi group is geographically limited to mostly Gujarat with little online interaction with the client. An investor has to personally approach the broker for the brokerage details as they work on a customized brokerage policy. The Marwadi shares group frames individual brokerage as per a person’s financial needs. Although they do promise for it to be value for money services.
As far as customer support is concerned, the services offered are not that great. The group releases a list of complaints by the Marwadi traders to the stock exchanges. These complaints are grievances which the broker and trader could not resolve. The annual report also shows the number of active clients and the difference between clients at the start and end of a financial year.
Marwadi Group Trading Tools and Platforms
They are less technologically inclined when it comes to trading platforms. In a market place where full-service brokers are going fully digital, Marwadi Shares pay less attention to online trading. They outsource their web and terminal-based software. However, the mobile application is in-house. Let’s look at the trading platforms it offers:
1. ODIN DIET
It is a terminal-based software outsourced from a third party by the Marwadi group. It offers decent features and multitasking facilities. It allows the customer to create multiple strategies of trade and grants access to market insights. This platform supports trading in BSE cash, NSE cash, NCDEX, NSE, F&O, and MCX currency. In addition, it provides in-built intelligence providing technical and fundamental analysis of the stocks.
The only issue with such outsourced software is client-broker communication delays. As it passes through a third party, the complaints or feedbacks take time to reach the Marwadi group brokers, thus making the whole process a little complicated. The software is free of cost for the Marwadi Shares customers.
2. NSE NOW
It is a web-based software accessible through multiple browsers like Chrome, Firefox, Internet Explorer, etc. NSE NOW is also an outsourced software and does not need any installing to use on your mobile phone, tablet, PC, or desktop. It is a lightweight website facilitating multiple charts with technical indicators.
The fund transfer process is user friendly offering a high-speed experience. One can trade with all the registered exchanges with Marwadi Shares using this website.
3. Marwadi Shares Mobile Application
It is the only platform serviced and operated by the Marwadi Group itself. With a decent interface, the application provides multiple functions as a live market watch. different analytical charts, trade books, fund reviews, etc. Charts of the historical performance of stocks are also included in the mobile app.
However, some customers have complained about a complicated experience with the app with hard to navigate from one page to another and sometimes even facing login issues.
Marwadi Shares: Account Opening Process
Due to an almost negligible online presence, you can contact Marwadi group through Email or the customer care number. You can also visit the website but would not find the brokerage plan details there. It is best to physically contact this stock broking company for optimum services.
Like opening account with other brokers you need few documents here also:
- ID Proof
- Address Proof
- Photograph (Passport size)
- Bank statement etc.
Marwadi Shares: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹0 |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹450 per year or one time fee of ₹2500 |
Marwadi Shares: Commodity Trading
Marwadi shares is a stockbroker that offers commodity trading services to users through the MCX. The brokerage fee charged on commodity trading is 0.02%.
Marwadi shares is a financial company that offers trading services in currency, commodity, IPO and other segments of the NSE, BSE, MCX and NCDEX. Moreover, they are depository participants with NSDL and CDSL. The broker has well over 95 branches in the country with 1400+ franchises. Furthermore, in 2019-2020, it had well over 82,000+ actives users.
Commodity Trading through Marwadi shares
Commodity trading that is offered by Marwadi shares can be executed through its dedicated trading portals. These portals include Odien Diet, NSE Now and Marwadi mobile app. The applications are quite detailed and offer a broad range of services and features to make your trading venture as simple as possible.
The brokerage fee charged on every commodity transaction is 0.02% of the entire lot. These are brokerage calculators available for easy calculation of adequate margins. Moreover, the transaction charges for the commodity segment is 0.0030%. the margins offered by the stockbroker for the commodity segment is up to 2 times for intraday.
Advantages of trading in the Commodity segment through Marwadi shares
- Dedicated support for all issues.
- User-friendly trading experience through its tools.
- Trade-in metals, bullions and other options under the commodity segment.
- Multiple trading tools ranging from web, desktop and mobile.
- Timely research advice.
Disadvantages of trading in the Commodity segment through Marwadi shares
- Research offered isn’t up to the mark.
- Margins are relatively low.
- Customer service is there but subpar when compared to the competition.
- Trading tools offered are outsourced and not in house.
Marwadi shares is not a very popular stockbroker in the country. Although everything might seem fine and dandy, inevitable let-downs such as lower margin might drive away potential customers. The trading tools are quite old when compared to its competition.
Marwadi Shares: Currency Trading
Marwadi share does offer currency trading as it allows trading the MCX with brokerage fees of 100 rupees per lot or 0.02% of the trade executed; whichever is lower. They do offer a brokerage calculator for currency trading. However, the high brokerage fee and the low credibility of research might be a let-down for many.
Marwadi shares is a brokerage company that offers users to trade in the stock market through the MCX, NCDEX, NSE and BSE. Besides the investment opportunities, there are commodity and currency trading options available. The stockbroker comprises of well over 90+ branches over the country with 1450+ channel partners.
About Marwadi shares
The stockbroker provides currency trading with a brokerage fee of 100 rupees per trade in currency options while its 0.02% of the entire lot in currency futures which might be expensive. The transaction charges incurred with currency options is 0.0435%, and currency future is 0.00125%. The margins are adequate where the Marwadi Shares offers margins on currency options of 2 times for intraday trading. Still, no leverage and with currency futures is up to 2 times in intraday trading.
Advantages of Currency Trading with Marwadi Shares
- Trading in CDS across NSE and BSE.
- Physical currency can be hedged using the stockbroker’s platform.
- Provides research on a global event associated with currency trading and the stock market in general.
- Investment and trading in currency options, futures and international currency transactions.
Disadvantages of Currency Trading with Marwadi Shares
- Inadequate research provided.
- Below average customer service response. The brokerage fee on currency trading is relatively high.
- Margins provided across all the segments are very low when compared to other stock brokers.
Marwadi Shares Review
Marwadi shares is a bang average stock broker that offers average trading services. The tools are adequately built with not many features a such. However, if you want to invest in the stock market while having low brokerage charges (except the currency segment), then the stockbroker is a perfect choice.