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Patel Wealth Review, Brokerage Charges, Demat Account & more

Patel Wealth Advisors is one of the fastest growing stockbroker company in India. Making its mark on 2015, Patel Wealth Advisors is already considered one of the best stockbroker companies in India with 380 branches.

With diversity in the products & services they offer and clarity in the brokerage fees they provide, they are surely an inspiration for every new stockbroker company.

However, there are some loopholes in their Stock Research & Advisory services. They also want to improve their Trading Platforms with some updated features which are concerning factors for now.

Patel Wealth Advisors offers


Patel Wealth Customer Ratings & Review

Experience2.5/5
Products & Services3.4/5
Brokerage Charges & Fees3.3/5
Stock Research & Advisory2.6/5
Trading Platforms2.4/5
Overall Ratings2.7/5
Star Ratings★★★☆☆
Total Client Reviews266

 


About Patel Wealth

Company TypePrivate
Broker TypeFull Service Broker
HeadquartersRajkot GJ
FounderKaushal Patel Vasantrai
Established Year2015

Patel Wealth Patel Wealth Advisors is among one of the elite stockbroker companies who is known for achieving success in quickest of times.

Mr Kaushal Patel Vasantrai, the man of action, knows the formula to spearhead the stockbroking industry.

Since its inception in 2015 at Rajkot, Gujarat, they have managed to formulate 380 branches with hundreds of employees working.


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Patel Wealth Brokerage Charges

Equity Delivery Trading0.35%
Equity Intraday Trading0.04%
Commodity Options Trading0.04%
Equity Futures Trading0.04%
Equity Options TradingRs.35 per Lot
Currency Futures Trading0.04%
Currency Options TradingRs.35 per Lot
Minimum BrokeragePercentage of Transaction
Demat AMC ChargesRs.250 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.1,500
Brokerage CalculatorPatel Wealth Advisors Brokerage Calculator

The brokerage fee of Equity Delivery Trading is 0.35% which is a bit high compared to other companies. The brokerage fee of Equity Intraday Trading, Commodity Options Trading, Equity Futures Trading and Currency Futures Trading are all 0.04% respectively.

The traders need to pay ₹35 per lot to purchase Equity Options and Currency Options. The minimum Margin money value is ₹1,500. The payable amount will include the transaction value along with the brokerage fees.

Patel Wealth Advisors doesn’t bear any liability if in case a trader fails to earn a profit or make a loss. So, in such scenarios, they don’t provide discounts or rebates in brokerage fees.


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Patel Wealth Other Charges

Transaction Charges0.00305%
STT0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)

A few additional fees are also applicable along with the final transaction amount. A Transaction fees of 0.00305% along with 0.0126% of Total Turnover as STT and 0.0002% of Total Turnover as SEBI Turnover Charges.

A variable Stamp Duty which varies from state to state along with 18% GST on overall transaction value plus brokerage fees. These negligible fees won’t affect the profit margin of the traders.


 

Patel Wealth Demat Account Opening Fees

Depository SourceCDSL & NSDL
Account Opening ChargesRs.250
Demat AMC ChargesRs.250 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.1,500
Offline to OnlineYes

Patel Wealth Advisors charges ₹250 and ₹250 for Demat account opening and its AMC respectively. The Trading account is free with its AMC. The Offline to Online feature is included.


Patel Wealth Offers

Free Demat AccountNo
Free Trading AccountYes
Discount on BrokerageYes
Trading Happy HoursNo
Flexible Brokerage PlansYes
1 Month Brokerage FreeNo
Holiday OffersYes
Referral OffersYes
Zero Brokerage for Loss Making TradesNo

Patel Wealth Advisors offer free Trading account along with its AMC. The Demat account is chargeable, however. They provide lucrative Discounts on Brokerage fees and also formulates Flexible Brokerage Plans.

So far, no “Happy Hour Trading” and neither they offer 1-month Brokerage free trading which some companies provide.

But they provide excellent Holiday offers and well-thought-out Referral program which is a latest trend in stockbroker industries. No rebate on brokerage fee in case of loss incurred by traders.


To know about offers of other stock brokers check below

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Microsec CapitalN G RathiProgressive ShareRudra Shares
Modex SecuritiesNine Star BrokingProstocksR Wadiwala Securities

How to Open a Demat Account with Patel Wealth?

Follow the steps to open a Demat account with Patel Wealth Advisors:

  • The traders need to click on “Open Demat Account” button below which will ask for the trader’s contact information.
  • The traders need to ask the representative of Patel Wealth Advisors for Demat account opening procedure. They will guide the traders with the step.
  • Then they will ask for the relevant documents to complete the KYC. They will ask for the necessary documents.
  • Once they accept the traders’ submitted documents, they will process the payment and validate the Demat account. They will send the credential by email and SMS.

Why Open Patel Wealth Trading Account?

A Demat account allows the traders to perform trading online and offline. It also safeguards the stocks that the traders purchase.

Now, one can open Demat account with Patel Wealth Advisors because of following reasons:

  • It costs only ₹250 to open a Demat account with just ₹250 is the AMC.
  • The Trading account opening is free along with its AMC.
  • The subtlety in services along with the after-sales support they provide are factors worth mentioning.

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Patel Wealth Products & Services:

Here are the list of Products & Services provided by Patel Wealth:

Products Offered by Patel Wealth:

Equity TradingYes
Commodity TradingYes
Currency TradingYes
OptionsYes
FuturesYes
Mutual FundsNo
ForexNo
BankingNo
SIPNo
InsuranceYes

Patel Wealth Advisors deals with all the trading activities such as Equity Trading, Commodity Trading, Currency Trading, Options and Futures.

According to some sources they are planning to implement Mutual Funds, Forex and Banking services. But as these services are not in operation now, we can’t consider them.

Patel Wealth Advisors, however, is associated with Insurance activities.

Patel Wealth Service Offerings:

Demat ServicesYes
Trading ServicesYes
3 in 1 AcountNo
Intraday ServicesYes
IPO ServicesYes
Stock RecommendationsYes
Robo AdvisoryNo
PMSNo
Trading InstitutionNo
Trading ExposureUpto 5X

As discussed before, Patel Wealth Advisors deals with operating Demat and Trading accounts. On top of that, they offer Intraday, IPO, Stock Recommendations and Robo Advisory services.

Although they are not a Trading Institute themselves, yet they offer Trading Exposure up to 5x. PMS and the 3-in-1 Account is not in operation yet.


 

Patel Wealth Research, Advisory and Stock Tips

Fundamental ReportsNo
Research ReportsYes
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsNo
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly ReportsYes
Offline AdvisoryYes
Relationship ManagerYes

Patel Wealth Advisors is happy to offer extensive services to enhance the overall user experience of Trading. Here is a list of services they provide:

  • Provides Research Reports.
  • They provide Free Stock Tips.
  • They suggest Top Picks.
  • Daily Market Review reports are also shared
  • They provide weekly & monthly reports.
  • Offline Advisory via Dealers & branches are also circulated
  • They provide Relationship Managers.

Patel Wealth Exposure or Leverage

Equity DeliveryUpto 2X
Equity IntradayUpto 5X
Equity FuturesUpto 3X
Equity OptionsUpto 4X
Currency FuturesUpto 4X
Currency OptionsUpto 3X
CommoditiesUpto 3X
Margin CalculatorPatel Wealth Margin Calculator

Patel Wealth Advisors offers exposer or leverage ratio for Equity Delivery up to 2x which average compared to other stockbroking companies.

They also provide exposer or leverage ratio for Equity Intraday up to 5x which is the industry standard. For Equity Futures, Currency Options and Commodities they provide up 3x respectively.

For Equity Options and Currency Futures, they provide up to 4x exposer or leverage.


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Patel Wealth Trading Platforms

Here are the thorough details on various trading platforms offered by Patel Wealth to its consumers. All the platforms have been established in-house and always get progressed on an unremitting basis.

Desktop Platform – WindowsYes
Desktop Platform – MacYes
Desktop Browser PlatformNo
Mobile Site PlatformYes
Android App PlatformYes
iOS App PlatformYes
Windows App PlatformNo
Other Mobile OS PlatformNo
Real time UpdatesYes
Portfolio DetailsYes
Online MF BuyNo
News FlashNo
Research ReportsYes
Easy InstallationYes
Global IndicesYes
Stock TipsYes
Personalized AdvisoryNo
Interactive ChartsNo
Live MarketsYes
SMS AlertsYes
Email AlertsYes
Multi Account ManagementNo

Patel Wealth Advisors serves its trading associates with multi-platform trading:

Patel Wealth Advisors Trading Terminal:

The desktop application that Patel Wealth Advisors provide supports both Windows and Mac architecture.

The Easy Installation desktop application has all the basic functionalities including Real-time Updates, Portfolio Details, Research Reports, Global Indices and Stock Tips.

Patel Wealth Advisors is often criticized for not delivering the best platform support compared to what other companies are providing. However, they are just a 4-year-old company and can always expect more from them in future.

Patel Wealth Advisors Web Trading Platform:

The broking house doesn’t provide any web trading platform yet.

Patel Wealth Advisors Mobile Trading App:

The Mobile app from Patel Wealth Advisors delivers trading services to both Windows and iOS users. It contains all the functionalities that the desktop application has.

Furthermore, it has SMS and email alerts to feed the traders with ongoing stock market activities. There are no Multi-Account Management options up until yet.


Patel Wealth Customer Care

Dedicated DealerYes
Offline TradingYes
Online TradingYes
24*7 SupportNo
Email SupportYes
Chat SupportNo
Toll Free NumberNo
Branches380

Like most of the established stockbroking company, Patel Wealth Advisors also provide Offline and Online customer support to its trading associates.

They have dedicated Dealers across 380 branches, makes them a formidable name in stockbroking industry. The unavailability of Chat support or a Toll-free number doesn’t matter much these days.

They have excellent email support service though, which is quite responsive.


Patel Wealth Complaints and Feedback

Find the list of complaint against Patel Wealth:

Lodged in BSE0
Resolved in BSE0
Lodged in NSE1
Resolved in NSE1
Percentage of No. of Complaints Received Against Number of Active Clients0.11

As Patel Wealth Advisors is just a 4-year-old company, we can’t judge how capable they are in resolving issues. Since its inception in 2015, 1 complaint has been issued and resolved accordingly.

The Percentage of No. of Complaints Received Against Number of Active Clients is just 0.11% which is definitely good, but we need to wait and see how efficiently they resolve problems in future.


Patel Wealth Advantages and Disadvantages:

Below mentioned is the list of pros and cons of Patel Wealth:

Cons of Patel Wealth

Discuss some of the worries if you make use of this full-service trader for your stock market trading:

Since Patel Wealth Advisors is a relatively new company, we should not accuse them of being faulty. Preferably we must highlight the areas they can improve:

  • Lack of conviction in user experience.
  • The Web Trading Platform is not available.
  • Yes, they have approximately 266 customer reviews, but in those respective reviews, clients have criticised more often.

Patel Wealth Conclusion

There is no doubt that Patel Wealth Advisors have achieved staggering feet. That too in just 4 years of operation. It is expected to have some flaws, but the expectations are very high with this stockbroker company.

They need to provide more compelling services to uplift the overall user experience and add more functionalities to improve the trading platforms.


Open Demat Account with Patel Wealth

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  1. Open Demat Account

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