BMA Wealth Creators Review, Brokerage Charges, Demat A/C & more
BMA Wealth Creators is a renowned brokerage house in the country and this article will provide the intricate details of the company ranging from its brokerage plans to the different types of trading platforms it uses.
This is a complete BMA Wealth Creators review that would help the readers to understand the company in a better way and to take decision wisely.
BMA Wealth Creators Customer Ratings
|Products & Services||5.6/10|
|Brokerage Charges & Fees||5.5/10|
|Stock Research & Advisory||5.9/10|
|Total Client Reviews||231|
Overview BMA Wealth Creators
It is a part of BMA Group which is a conglomerate. BMA Wealth Creators was founded in the year 2004 by Shiv Kumar Damani, Avinash Agarwalla, M B Devashrayi and Anubhav Bhatter in the city of joy, Kolkata.
The total net worth of the group is more than Rs. 2000 crores and it has a huge presence in the businesses structure of India.
The number of clients of BMA Wealth Creators is more than 1063274 and this number is growing at a rapid speed with the interest of people growing in the stock market.
|Broker Type||Full Service Broker|
|Headquarters||Kolkata, West Bengal|
|Founder||SHIV KUMAR DAMANI, AVINASH AGARWALLA, M B DEVASHRAYI & ANUBHAV BHATTER|
The company has it’s headquartered in this city and it has over 42 branches across the country. More than seven thousands business partners are associated with BMA Wealth Creators and the number is growing with every passing day.
The company provides all kind of brokerage services to the clients and the customers and it is a full-service broker registered as a private firm.
The company is run by Anubhav Bhatter who is the Chairman and MD of the company. The Director and the CEO of the company are Mrugesh Devashravi.
The research team is headed by Dharmesh Rajdev and the broking department’s head is Sarat Murarka.
There is two division of the company, one is BMA Wealth Creators Limited which is a member of the NSE and BSE and its depository partner is CDSL. The other is BMA Commodities Private Limited which is a member of the NCDEX and MCX.
Both these two companies form the BMA Wealth Creators and they also have other registration with SEBI for other financial services which will be discussed later.
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BMA Wealth Creators Brokerage Charges & Fees
|Brokerage Charge & Fees|
|Equity Delivery Trading||0.30%|
|Equity Intraday Trading||0.03%|
|Commodity Options Trading||0.03%|
|Equity Futures Trading||0.03%|
|Equity Options Trading||Rs.50 per lot|
|Currency Futures Trading||0.03%|
|Currency Options Trading||Rs.20 per lot|
|Minimum Brokerage||Percentage of Transacton|
|Demat AMC Charges||Rs.250|
|Trading AMC Charges||Zero|
|Margin Money||Rs.20,000 Minimum|
|Brokerage Calculator||BMA Wealth Brokerage Calculator|
The BMA Wealth Creator’s brokerage charges of 2019 are 0.03% for the equity intraday segment, also for the futures and commodities segment.
The charge for the equity delivery segment is 0.3%. The charge for trading equity options is Rs.50 per lot and that is for the currency options is Rs. 20 per lot.
The brokerage charges are comparatively nominal and affordable keeping the stature of the company and the services it provides.
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BMA Wealth Creators Other Charges
|Transaction Charges||0.00300% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)|
There are certain charges that are mandatory when you trade and those charges include the STT charges which are charges on a total turnover at 0.0126% and the Transaction charges for BMA Wealth Creators is 0.00300% on the total turnover.
Similarly, there are SEBI charges for a total turnover of 0.0002%. Apart from these charges, there are stamp duty charges that caries from one state to another where you are trading and finally there is GST which is levied at 18% on brokerage plus transaction charges.
BMA Wealth Creators Demat Account Opening Fees
|Depository Source||CDSL & NSDL|
|Account Opening Charges||Rs.500|
|Demat AMC Charges||Rs.250|
|Trading AMC Charges||Zero|
|Margin Money||Rs.20,000 Minimum|
|Offline to Online||Yes|
The charge for opening BMA Wealth Creators Demat Account is Rs. 500 and the annual maintenance fees for Demat account are Rs. 250.
The company maintains its depository with CDSL and NSDL and for maintaining the trading account there are no such charges that you need to pay on a yearly basis.
It is free of cost. The minimum amount of margin money that you need to keep is Rs. 20000.
BMA Wealth Creators Offers
|Free Demat Account||No|
|Free Trading Account||Yes|
|Discount on Brokerage||No|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||No|
|1 Month Brokerage Free||No|
|Zero Brokerage for Loss Making Trades||No|
The BMA Wealth Creators offers are –
- Free trading account for lifetime
- Different offers related to a brokerage on a variety of products
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|Zerodha||Anand Rathi||5Paisa||Geojit Finance|
How To Open A Demat Account with BMA Wealth Creators?
You can open an account with BMA Wealth Creators in both offline and online mode.
Open BMA Wealth Creators Account Offline
- First, you need to visit any branch of BMA Wealth Creators.
- Talk to the executives in the office and fill and submit the application form for opening trading and Demat Account.
- You also have to provide necessary documents like PAN, AADHAAR, Voter ID, etc. for verification purpose
- Once they approve your application you will be provided with your login details
Open BMA Wealth Creators Account Online
- Fill up the form provided below & click on the submit button
- You have to upload the necessary documents along with the application form. You have to take photocopies of PAN, AADHAAR, Voter ID and other documents which are asked by the company and upload them on the site.
- They will verify each document and your details and then approve the account
- Once the application is approved you will get login credentials and you can start trading.
Why Open BMA Wealth Creators Trading Account?
There are innumerable reasons to trade with BMA Wealth Creators –
Exceptional Customer Relationship: The most important benefit as a customer you can expect is exceptional care taken towards your needs and requirements.
The company guarantees a great experience not just because of their varied products but also because of their exceptional customer management skills.
They understand the customer’s requirement and they treat individual customers accordingly. This helps in building a long term successful relationship.
Expertise and professionalism: The Company’s executives are expert in their own field. The core team members have a noteworthy background in financial services and education.
They know how to deal with clients and understand the client’s perspective in a better way.
They are skilled in handling financial investments and have exceptional knowledge in advising about financial products and services.
Advanced Technology: You can get the state-of-art trading platforms which you can use anywhere any time for your trades. There are different types of trading platforms from website-based to mobile
Unparalleled research: The Company provides various research calls, they guide you with different research materials to provide you with the best opportunities in the market.
They put their heart and soul into researching the best possible trading opportunities for you.
Great exposure: The network of this company including its business partners, team members, and employees and especially the customers is huge.
So, belonging to such a great network can only help you grow and nothing else.
Highly flexible structure: The Company has huge flexibility in its working structure.
It has a variety of products, different brokerage plans, trading platforms, and many others to suit the need of individual clients.
BMA Wealth Creators Products & Services
Lets have a detailed understanding of their products & services:
BMA Wealth Creators Products
The BMA Wealth Creators products include various segments. To start with we can take Equity segment, then it also deals in the derivatives – both futures and options.
Apart from these, there is also commodities and currency trading segments. The company does not only deals in these stock market instruments but also in Mutual funds for which it is registered under AMFI.
It works as an intermediary in mutual funds dealing. Last but not least at all is the product that holds immense importance in every persons’ life is insurance and that is sold by BMA Wealth Creators.
BMA Wealth Creators Services
|3 in 1 Acount||No|
|Trading Exposure||Upto 10x|
The services of BMA Wealth Creators includes Demat and trading services like any other brokerage houses.
BMA Wealth services that make it different is the IPO services which include investing in different new companies which are coming into the market for the first time.
The services also include stock recommendations and intraday services.
BMA Wealth Creators Research & Advisory
The BMA Wealth Creators research team is prudent in their work as mentioned above and they help the customers and the clients with the fundamental reports of the companies, research reports of different stocks and other instruments they invest their money into.
|Research & Advisory|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
|Daily Market Review||Yes|
The research team research about individual company’s stock and also provides free stock tips.
For IPO services it provides the information and research reports on the upcoming IPOs so that the clients can decide on which IPO they want to invest in.
A daily market review is provided without any fail and also the top or hot stocks of the day are suggested for every client. Monthly reports of the market and the stocks are provided to the clients.
Apart from all these research services, the BMA Wealth Creators advisory services are also there which includes RMS facility or allotment of personal Relationship manager for taking care of the trades and they also provide advises on trading through offline mode.
BMA Wealth Creators Exposure/ Leverage
|Exposure / Leverage|
|Equity Delivery||Upto 2x|
|Equity Intraday||Upto 10x|
|Equity Futures||Upto 3x|
|Equity Options||Upto 5x|
|Currency Futures||Upto 3x|
|Currency Options||Upto 3x|
|Margin Calculator||BMA Wealth Margin Calculator|
The exposure level of BMA Wealth Creators is up to 10 times for the equity intraday segment.
However, for the other segment like commodities, currency and equity futures, and currency it is up to 3 times and for the equity delivery, it is only up to 2 times.
For the equity options segment, it is up to 5 times. the BMA Wealth Creators leverage level helps a lot in the trading purpose with a limited amount of capital and also mitigate a great amount of risk.
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BMA Wealth Creators Trading Platforms
There are three kinds of BMA Wealth Creators trading platforms. There is a desktop-based trading terminal, web-based trading site and application for the mobile phones.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||No|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Online MF Buy||No|
|Multi Account Management||No|
BMA Wealth Trading Terminals:
A desktop-based trading terminal is a software that has to be downloaded from the company’s website before you can start trading. When you get the login credential, you can download the software after that.
The trading terminal software used by BMA Wealth Creators is NEST Trader. NEST Trader is a trading software that was developed by a company named Omnesys Technologies.
The software has various features and some of the main features are discussed below –
- It has market watch window where you can add all the stocks that you want to monitor and trade or trading already.
- The software has options calculator it helps in calculating the profit and loss of options and by applying different strategies.
- There is an option of comparing scrips
- There are various charts and indicators which helps in identifying opportunities in the market
- Heatmaps are also there in the software
It is one of the best trading software and it is a traditional software as well.
BMA Wealth Web-based Trading Platform:
This platform is known as Trade on BMA which is a website browser-based trading platform.
You can use it from any place and any time you can operate it provided the market you are trading it open. It requires a stable internet connection and this platform is also designed by Omnesys Technologies for BMA.
The features of this platform are –
- The platform is adaptable and can be used on various browsers
- The interface is super smooth and user-friendly
- Multiple indicators are available on the index and the intraday charts that are on the platform
- There are different portfolio management options available as well
- There is a facility for transferring funds for trading from one bank to another
BMA Wealth Creators Mobile Trading App:
The mobile-based application for trading of BMA Wealth is known as BMA mTrade and the application has various features that enable a fast and smooth trading experience.
- It has Index and market watch facilities on the mobile screen
- There are various news and latest market updates that come into the application from time to time
- The mobile application supports real-time market updates and quotes of the stocks streams on real-time basis on the mobile application as well.
BMA Wealth Creators Customer Support
|Toll Free Number||Yes|
BMA Wealth Creators has an exceptional customer service team and they take care of their clients in a really good manner.
The customer care executives can be reached by chat support and also by offline mode. There is a toll-free number that you can dial for connecting with the customer care service of BMA Wealth Creators.
BMA Wealth Creators Complaints (Current Year)
|Complaints (Current Year)|
|Lodged in BSE||106|
|Resolved in BSE||104|
|Lodged in NSE||151|
|Resolved in NSE||149|
Last year, that is 2018 there was a total of 106 complaints that got registered against this company on BSE and 151 on NSE.
The company resolved 104 and 149 of the complaints on BSE and NSE respectively in the same year. Taking the number of clients active on BMA platform, the percentage of complaints it around 0.05%.
However, the number of complaints is obviously more than its peers.
BMA Wealth Creators Disadvantages
The various cons of the broking house are –
- There is no Email support of customer care
- No weekly research reports are provided
- The trading platforms need to be upgraded
- There are very few offers for the clients to get them attracted to open accounts
- More than average brokerage plans
BMA Wealth Creators Conclusion
BMA Wealth Creators are facilitating the investors and traders for more than a decade now.
There are few who are not satisfied with the company’s services but the number of happy customers is over ten lakh which shows the company is doing a great job but it can also better itself in few aspects.
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