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 Customer Ratings & Review

Experience 2.5/5
Products & Services 3.4/5
Brokerage Charges & Fees 3.3/5
Stock Research & Advisory 2.6/5
Trading Platforms 2.4/5
Overall Ratings 2.7/5
Star Ratings ★★★☆☆
Total Client Reviews 266

 


About Patel Wealth

Company Type Private
Broker Type Full Service Broker
Headquarters Rajkot GJ
Founder Kaushal Patel Vasantrai
Established Year 2015

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 Trading 0.35%
Equity Intraday Trading 0.04%
Commodity Options Trading 0.04%
Equity Futures Trading 0.04%
Equity Options Trading Rs.35 per Lot
Currency Futures Trading 0.04%
Currency Options Trading Rs.35 per Lot
Minimum Brokerage Percentage of Transaction
Demat AMC Charges Rs.250 per Annum
Trading AMC Charges Free
Margin Money Minimum Rs.1,500
Brokerage Calculator Patel 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.


Patel Wealth Other Charges

Transaction Charges 0.00305%
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)

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.


Find Brokerage Charges of other Full Service Brokers – 

Kotak Securities ICICI Direct Sharekhan India Infoline (IIFL)
Ventura Securities Marwadi Group Aditya Birla Money Motilal Oswal

Patel Wealth Demat Account Opening Fees

Depository Source CDSL & NSDL
Account Opening Charges Rs.250
Demat AMC Charges Rs.250 per Annum
Trading AMC Charges Free
Margin Money Minimum Rs.1,500
Offline to Online Yes

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 Account No
Free Trading Account Yes
Discount on Brokerage Yes
Trading Happy Hours No
Flexible Brokerage Plans Yes
1 Month Brokerage Free No
Holiday Offers Yes
Referral Offers Yes
Zero Brokerage for Loss Making Trades No

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.


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 Trading Yes
Commodity Trading Yes
Currency Trading Yes
Options Yes
Futures Yes
Mutual Funds No
Forex No
Banking No
SIP No
Insurance Yes

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 Services Yes
Trading Services Yes
3 in 1 Acount No
Intraday Services Yes
IPO Services Yes
Stock Recommendations Yes
Robo Advisory No
PMS No
Trading Institution No
Trading Exposure Upto 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.


Check Products & Services offered by other Stock Brokers –

Angel Broking HDFC Securities Indiabulls Ventures  Just Trade
IDBI Direct  GCL Securities Arihant Capital Religare Securities

Patel Wealth Research, Advisory and Stock Tips

Fundamental Reports No
Research Reports Yes
Company Reports No
Annual Reports No
Company Stock Review No
Free Stock Tips Yes
IPO Reports No
Top Picks Yes
Daily Market Review Yes
Monthly Reports Yes
Weekly Reports Yes
Offline Advisory Yes
Relationship Manager Yes

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 Delivery Upto 2X
Equity Intraday Upto 5X
Equity Futures Upto 3X
Equity Options Upto 4X
Currency Futures Upto 4X
Currency Options Upto 3X
Commodities Upto 3X
Margin Calculator Patel 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.


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 – Windows Yes
Desktop Platform – Mac Yes
Desktop Browser Platform No
Mobile Site Platform Yes
Android App Platform Yes
iOS App Platform Yes
Windows App Platform No
Other Mobile OS Platform No
Real time Updates Yes
Portfolio Details Yes
Online MF Buy No
News Flash No
Research Reports Yes
Easy Installation Yes
Global Indices Yes
Stock Tips Yes
Personalized Advisory No
Interactive Charts No
Live Markets Yes
SMS Alerts Yes
Email Alerts Yes
Multi Account Management No

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 Dealer Yes
Offline Trading Yes
Online Trading Yes
24*7 Support No
Email Support Yes
Chat Support No
Toll Free Number No
Branches 380

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 BSE 0
Resolved in BSE 0
Lodged in NSE 1
Resolved in NSE 1
Percentage of No. of Complaints Received Against Number of Active Clients 0.11

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.


Check detailed review of similar full service brokers:

Mangal Keshav  MasterTrust Networth Direct Reliance Securities
Axis Direct  SMC Global GEPL Capital  SBI Cap Securities

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