TradeSmartOnline is one of the top Discount Broker In India read Tradesmart Review
This Mumbai based brokerage firm is a part of VNS Finance & Capital Services Ltd that was incorporated in 1994. With a strong track record over two decades in the brokerage business,
TradeSmart has been successfully soaring higher in the online business too.
Tradesmart Review in Details
TradeSmart efficiently uses latest technology and smartest automation with high grade security to provide discount brokerage services in stock, commodity and currency trading segments to its customers.
They have excelled in this line of business with a single aim of improving user experience in the trading business. Vijay Singhania, the founder of TradeSmart has been the pillar of strength of the organisation and has been instrumental in building a tech enabled trading platform.
TradeSmart also operates through franchises and sub-brokers. Being a member of NSE, BSE & MCX, it offers trading in cash, F&O, currency derivatives, commodities and depository service of CDSL. With an ever growing customer base.
TradeSmartOnline does a daily turnover of around Rs 2500 Crore. The ED and VP of the firm actively publishes blogs on various trading and investment related topics to keep its clients updated with current market scenario.
The video tutorials uploaded on their portal are a great resource to learn about the basics of their trading platforms along with their functionalities. ‘Knowledge base’ articles by experts are well drafted and are of great help in understanding many trading related topics. On customer support front,
TradeSmart puts up every effort to strengthen a share broker-client relationship. Live chat support provides instant response to your queries.
They are also reachable through a phone call, email, or web-form for support. They have a consolidated Download section, where anything and everything that can be downloaded is put together.
Various Charges of TradeSmart
Unlike other brokers in the market, TradeSmartOnline’s fee structure is relatively simple and has no such hidden charges. They are also found to charge the lowest brokerage charges in the market.
Trading Account Opening Charges (One Time) : Rs 200
Demat account Opening Charges (One Time) : Rs 200
Trading Account AMC : Zero
Demat Account AMC : Rs 300 (from 2nd year on-wards)
Since, TradeSmart has the roots of a full service broker, they offer a mix of brokerage plan.
Customers who are comfortable in percentage brokerage can opt for their Value Plan which is basically at 0.007% or can go for Power Plan that’s charged flat at Rs 15 irrespective of trade volume.
TradeSmart Equity Charges
| Charges | Equity Delivery | Equity Intraday | Futures | Options |
| Brokerage | Flat Rs 15/- per trade | Flat Rs 15/- per trade | Flat Rs 15/- per trade | Flat Rs 15/- per trade |
| STT / CTT | 0.1% per crore | 0.025% on the Sell Side | 0.01% (on Sell Side) | 0.05% on Sell Side (premium) |
| Turnover Charges |
NSE : 0.00350% per crore BSE : 0.00350% per crore |
NSE : 0.00350% per crore
BSE : 0.00350% per crore |
0.00240% per crore | 0.07150% per crore |
| SEBI Charges |
Rs 5 / Crore | Rs 5 / Crore | Rs 5 / Crore | Rs 5 / Crore |
TradeSmart Currency Charges
| Charges | Currency Futures | Currency Options |
| Brokerage | Flat Rs 15/- per trade | Flat Rs 15/- per trade |
| STT | NIL | NIL |
| Turnover Charges | 0.00140% per crore | 0.055% per crore |
| SEBI Charges | Rs 5 / Crore | Rs 5 / Crore |
TradeSmart Commodity Charges
| Charges | MCX Futures | MCX Options |
| Brokerage | Flat Rs 15/- per trade | Flat Rs 15/- per trade |
| STT / CTT | 0.01% per crore | 0.05% per crore |
| Turnover Charges | 0.00390% per crore | 0.02% per crore |
| SEBI Charges | Rs 5 / crore | Rs 5 / crore |
Apart from the above charges, stamp duty is charged based on the state where the customer resides. GST is charged at 18% on brokerage and transaction charges.
Various trading platform of TradeSmartOnline
TradeSmart’s trading software can be accessed across various platforms depending on the customers’ ease of accessibility and need. Both of its front end and back end platform is quite robust with advanced technologies that aims to provide flawless functioning.
For those who are comfortable trading through mobile application on the go, TradeSmart’s SINE App serves the purpose.
This intelligent App is amazingly designed and can be easily adapted by newbies and experienced traders. It helps to have full control of the market and saves a lot of time because of smooth function and advanced features.
It’s easy and intuitive dashboard helps you monitor your portfolio, holdings, trade and transactions. Available for both Android and iOS, it helps in scanning the stock market on real time basis and helps you in taking informed decision.
In case one isn’t comfortable in downloading online share trading software or trading app, for them browser based trading is designed specifically. It needs a computer with internet connection, and you can simply log in to their browser based solution and get started.
This suits best for them who travels a lot and trade light. This makes it easy for online share trading, currency trading or commodity trading.
Developed by Omnesys Technologies, the desktop trading platform is called NEST which provides a complete solution for multiple trading segment across NSE, BSE and MCX.
Some great features help traders to carry out transaction seamlessly without any glitch. Scrips can be tracked by creating market watch groups. You can view your orders, trades and position status.
Add on tools can be used to get necessary alerts. For active traders, Dartstock is the perfect platform from TradeSmart. With more than 60 technical indicators and over 10 market study reports, it makes a robust platform to trade on.
Loaded with advanced charts, dashboard and graphs, it gives a great visual effect to the desktop from where you are trading. You can create your own watchlist and price alerts to remain updated with current trends.
Pros and Cons of TradeSmartOnline
Everything comes with its own list of merits and demerits, and TradeSmart isn’t exceptional, some of them are listed below. This all will help you to take an informed decision while dealing with TradeSmart.
TradeSmart offers two brokerage plans, so that it suits their clients’ trading strategy
It provides upto 30X exposure in NSE cash and 7X limit in Equity F&O selling through Bracket Order & Cover Order, and 6X limit in MCX through Cover Order & Bracket Order.
It provides the flexibility to switch over from existing brokerage plan to another plan as per clients’ need.
Strong customer support
TradeSmart offers referral credit to its clients, which is 10% credit of the brokerage generated by someone you refer
It has its own depository services
TradeSmart is tied up with 26 banks for instant fund transfer
It provides MF and offer for sale, as well as margin against shares (MAS)
In-house research isn’t strong enough as compared to competition
NRI Customers has nothing in store
You cannot invest in IPO, FPO, buyback online
Call-n-Trade is charged at additional Rs 20 per trade
Doesn’t provide any tips or recommendations
How to open your account with TradeSmartOnline?
Opening account with TradeSmart is fairly simple and can be done both online as well as offline.
The following documents are mandatory for opening an account.
PAN card
Aadhaar Card
Passport sized photo
Cancelled cheque
Signature
3 months’ bank statement (for F&O) is optional
Online opening of TradeSmartOnline account takes more or less 15 minutes,
If the above mentioned documents are with you which needs to be uploaded as a scanned copy. Authentication is done with OTP send to the mobile number linked with Aadhaar. Visit homepage of TradeSmartOnline and follow simple steps to open demat account.
Keep your bank details such as account number, IFSC code and branch address ready, as the
information is needed while filling up the web form.
In case your mobile number is not Aadhaar linked, then you can opt for offline mode of account opening. You need to download the account opening form, take a print out and fill it up with requisite details and send it along with the KYC documents. All the documents should be couriered to the following address for further processing.
Trade Smart Online
A-401, Mangalya, Marol,
Andheri (E), Mumbai – 400 059,
Phone : 022 61208000 / 022 42878000
