In this article, we’d review a very important part of Tradeswift business ideals. We’re talking about the way Tradeswift charges their clients. So, we’ll take a keen look at Tradeswift Brokerage Charges, Trading Charges and more. In fact, we’ll even elaborately discuss about certain taxes they charge. So, here we go!
Its growth over these few years has been way inspiring. It caters to the market with an expansion of over 280 branches. Moreover, it even rightfully claims its name with 3 technically sound online trading platforms. There are so many things to say about the company in short.
Tradeswift Brokerage Charges
Tradeswift charges are all about levying commission for the services they offer. We’ve tried to introduce all the charges in this matter through the table below.
|Equity Delivery||Rs.20 per Trade|
|Equity Intraday||Rs.20 per Trade|
|Equity Futures||Rs.20 per Trade|
|Equity Options||Rs.20 per Trade|
|Currency Futures||Rs.20 per Trade|
|Currency Options||Rs.20 per Trade|
|Commodity||Rs.20 per Trade|
|Flat Monthly Fees, if any||NA|
Tradeswift tends to break the rules all the time and, that is one of the things its clients admire about the broker. It often does not even follow the industry trends.
In fact, there are seldom situations where it does follow the market trends at all and, this can even be interpreted from Tradeswift brokerage charges.
The company provides service across all major trading dimensions. The list includes Equity Delivery, Equity Intraday, Currency Options, Currency Futures, Equity Options, Equity Futures and even Commodity trading. However, the company does not adhere in discrimination of any sort.
That’s why the amount of brokerage for all of its services remains same. It typically charges the clients on per trade basis. Therefore, a trader trading with Tradeswift must pay Rs.20 per trade for all services. This is one of the lowest rates a broker charges in the industry and, it encourages the clients to trade with the company even further.
But, Tradeswift does not stop here either. It allows the use of its Demat and Trading accounts without any AMC whatsoever. Moreover, the clients may use the services related to trade exposure without any conditions either. This means that there is no minimum Margin Money limit specified.
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Tradeswift Account Opening Charges
Tradeswift is one of the latest additions to the Indian elite broker society and, the reputation it has as a broker is amazing. Established in 2003, it is one of the rarest brokers from Rajasthan. Founder Nishant Jain looks after the administration of the company personally
The table underneath gives the complete description on Tradeswift Account Opening charges:
|Trading Account Opening Charges [One Time]||Free|
|Trading AMC [Yearly]||Free|
|Demat Account Opening Charges [One Time]||Rs.299|
|Demat AMC [Yearly]||Free|
|Margin Money||Zero Margin|
|Brokerage Calculator||Tradeswift Brokerage Calculator|
|Margin Calculator||Tradeswift Margin Calculator|
There is nothing as Tradeswift Trading charges or AMC. That’s because the company provides these services without any expectations. In other words, Tradeswift allows their clients to use their prime trading platforms for free. In fact, they even waive out Tradeswift AMC charges for Demat.
However, as a client, you must pay Rs.299 at the time of registration. This amount is incurred in order to allocate a new Demat Account. This is a one time charge nonetheless. Moreover, you may even use the company’s Trade Exposure services. Also, you can do so without ever having to worry about any Margin Money limitation.
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Tradeswift Transaction Charges
Tradeswift acts with permission and as a partner of the premium exchanges and, by premium we mean to say BSE, NSE, NCDEX, MSEI and even MCX.
Like every other brokerage firm Tradeswift levies a particular sum for every trade made by its traders. We’ve tried to present you with the exact rate at which Tradeswift Transaction charges are incurred.
|Transaction Charges 2019||0.00315%|
Transaction charges are something that every trader needs to pay. These are charged at the end of every transaction and, they’re levied irrespective of the nature of the transaction. In other words, you must pay these charges any and every time you transact from or into your Demat / Trading Account.
Anyway, let’s come down to the matter of Tradeswift. Please understand that these charges are apart from Tradeswift broking charges. Unlike the broking charges, they’re incurred at a unanimous rate. So, for availing any service, you pay 0.00315% per transaction.
The list of services includes Equity Delivery, Commodity, Currency Options, Currency Futures, Equity Futures, Equity Options and Equity Intraday trading.
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Tradeswift Other Charges
Some other parameters contribute to the list of Tradeswift charges apart from brokerage too. These charges are a bunch of incursions made on behalf of the government. In simple words, these are certain charges that the company levies. Anyway, here’s a list of them all:
|SEBI Turnover Charges||0.0002% of Total Turnover|
|STT||0.0126% of Total Turnover|
|Stamp Duty||0.002% – 0.004% – Depends on State|
|GST||18% of (Brokerage + Transaction Charges)|
|Margin Funding Charges||18% + GST|
|Reactivation Charges||Rs.45 per Segment|
|Account Closure Charges||Zero|
Five parameters formulate the list of Tradeswift other charges cumulatively. Each one of them is enlisted within the tax incursion category. There are three more categories that add on to the list. However, let’s begin with the former five.
At the very first position, we have SEBI Turnover Charges. A tax for this parameter is incurred at the rate of 0.0002% over total turnover. Then, we have the STT. This is called the Securities Transaction Tax. This one is levied at the rate of 0.0126% over total turnover.
The third position is held by Stamp Duty. This one is the least bothersome of all. It has a least (although variable) value. In fact, it is charged on the basis of varying state laws. The fourth and the fifth positions have to do with GST.
The former is levied at 18% over the sum of all transaction and brokerage charges. The later, however, concerns with Margin Funding charges. This one is levied at 18% + GST.
The company even charges for account closure. This is charged at Rs.50 per segment. The account reactivation charges are set at Rs.55 per segment. And, in case of dematerialization, one needs to pay Rs.60.
Tradeswift Charges – Conclusion
We believe this article should help you understand all sorts of Tradeswift charges. It talks about Tradeswift Demat charges. It elaborates the rate at which Tradewsift Trading charges are levied. This article even tells you about all the other charges that end up in a trader’s lap while and after trading.
Now, it’s all up to you to decide if the company you want as your broker is named Tradeswift or not.
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