Wealth Discovery Charges – Find Brokerage Charges, Account Opening Charges and more

We’ll use this article to talk about Wealth Discovery Charges and, by charges we mean Wealth Discovery Demat charges, Trading charges, taxes and what not. In short, you can expect a fully fledged and unbiased review of Wealth Discovery’s trade related charges.

A full service brokerage house came into action in 2010. It opted New Delhi to be its prime place of operation. The motive behind this firm was rather simple nonetheless. The management wanted to use their expertise and experience to turn opportunities into baggage of profits for their investors and, it did so quite efficiently.

Simultaneously, we even plan on helping you understand the broker better. So, here’s what we’re going to do!

Wealth Discovery Brokerage Charges

The table you see below is the one that tells you all about Wealth Discovery brokerage. A single glance at the table should help you to understand the table with ease. In case you still encounter some trouble about it, we have a detailed explanation right at the bottom of the table. So, here’s how it goes:

Wealth Discovery provides trading services pertaining to six categories. Each category is differentiated by a specific brokerage applicable.

Our concern begins with services within Equity delivery trading domain. This domain requires a brokerage value worth 0.16% per trade.

We then have the Equity Intraday service. This one requires a brokerage worth 0.02% per trade. This trade brokerage is even applied to two other categories. We’re referring to Equity Futures and Currency Futures. All services under Equity Options trading are covered for a brokerage worth Rs.16 per lot.

However, the services under Currency Options require a payment worth Rs.10 per lot. Minimum brokerage is not exactly defined in terms of quantity. However, the broker levies this charge as per the percentage of transaction. Wealth Discovery brokerage charges for Demat AMCs are worth Rs.160 per annum.

Although, they do provide Trading AMCs for free. Finally the Margin Money required for the broker is limited to Rs.5,000. This is mandatory to capitalize the broker’s trade leverage schemes.

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Wealth Discovery Account Opening Charges

The table resembles the model of Wealth Discovery Account Opening Charges. It’s a very simplistic model with five distinctive divisions. Each of the divisions represents some sort of service being provided by the broker. Moreover, the table even has the adjacent price required to be paid for those services:

Wealth Discovery levies a charge worth Rs.160 for Demat Account. This is a one time payment required during the account allocation process. The broker even levies a charge worth Rs.160 per year. However, this one is levied in terms of Demat AMCs.

Wealth Discovery trading charges does not apply to any of its clients. Neither do the Wealth Discovery AMC charges for trading activities. Although, the broker does require a minimum amount worth Rs.5,000 as its Margin Money. This is especially required during the time of encashing trade exposures.

Find Account Opening Charges of other Stock Brokers

Wealth Discovery Transaction Charges

The entire list of Wealth Discovery transaction charges is mentioned right below. All you need to do is just take a peek at it to understand it better:

The broker in concern here isn’t a fancy one at all and, this can easily be established by some of its core traits. For instance, Wealth Discovery charges the exact same transaction charge for all of its services.

By all we mean the cluster of all trades including Currency Options, Currency Futures, Equity Futures, Equity Options, Equity Intraday, Equity Delivery and even Commodity.

Find Transaction Charges of other Brokers

Wealth Discovery Other Charges

Wealth Discovery charges some additional amount in terms of taxes. Each of these taxes is incurred at predetermined rates. In fact, the rates are all governed by a handful of government policies. The incursion of these taxes hypes the investment capital of the traders a bit. Anyway, here’s the rate card for these taxes:

The taxes enlisted above are even known as Wealth Discovery other charges. These basically involve the various taxes that fall apart from the brokerage category. However, you must understand a few things before moving ahead from here. These ‘other charges’, are a couple of impositions planned by the government.

They are non-negotiable and, they impact the investment capital of the traders directly. The list initiates with an incursion of SEBI Turnover Charge. This is incurred at a rate of 0.0002%. The next one is incurred for the sake of STT. The Securities Transaction Tax is charged at a rate of 0.0126%.

Both of these charges are imposed over the total turnover of the traders. We then have a certain incursion of Stamp Duty. This is not specified within the table. That’s because it varies as per the state regulations. The broker incurs the GST at 18%.

In fact, they even provide Margin Funding with 18% + GST. The broker does not have any Account Closure charges so far although; it does require Rs.65 for the sake of Dematerialization. The reactivation charges are levied at Rs.50 per segment.

Wealth Discovery Charges – Conclusion

Wealth Discovery charges a handful of variable charges from its clients and, these charges are subject to various parameters. Anyway, we’ve now told you the details on Wealth Discovery Demat charges, Intraday Charges and even Trading Charges.

The broker has its headquarter in New Delhi and, it began operating not before 2010. So, what exactly made this firm a success in the first place is its management.

In fact, we’d specifically want to quote the broker’s success to their founder. Rahul Agarwal is the one we’re talking about in here. The broker has had a clear mission statement from day one. They want to become ‘the financial mentor of choice for all investors!”  So, we’ve decided to clear out our confusion through this article.

We’ve even elaborated on the broker’s role in imposing certain taxes. So, the ball’s in your court now and, you’ve to decide for yourself if the broker is good enough!

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