12.75% 8,028 Clients
Wisdom Capital is an online discount broker in India. The broker offers trading and Demat account services to residents as well as NRIs. Wisdom Capital is an online brand of Ashlar Securities. The company is registered under FATCA of the USA and allows US-based NRIs to trade and invest in the Indian stock market.
The broker offers investment advisory services to its customers and helps them make informed trading decisions backed by technical and fundamental analysis. For expert investors, it has a Live Wisdom Data platform where they can research stocks and pick companies with high growth potential.
Wisdom Capital offers online trading platforms to trade and invest across equity delivery, mutual funds and derivatives segments. It doesn't offer trading services in IPOs, NCDs and OFS segments.
Wisdom Capital's Trading School offers trading and investment courses to new investors. The course helps them get familiar with various aspects of stock market investing and in the sharpening of trading skills.
Before opening an NRI account with Wisdom Capital, an NRI needs the following:
A PAN Card is mandatory to trade and invest in India. If you already have a PAN Number as resident Indian, you do not need a new PAN card. It is the same for NRIs and Resident Indians. The PAN Card can be obtained by filling up Form 49AA online through the websites of UTIITSL and NSDL.
Wisdom Capital doesn't offer banking services that means NRIs cannot open the NRI Savings Bank account and PIS account with the broker. The investors have to open NRE and NRO bank accounts with 3rd party banks. Wisdom Capital allows NRI bank accounts with any bank. You can link your existing NRI bank account (with a designated Indian bank) to Wisdom Capital NRI trading and Demat account.
After opening the NRI Bank account, NRIs have to request for PIS permission with the help of a bank. PIS account is necessary to trade and invest in Indian stocks.
Globe Capital Market Ltd works as a clearing member for the trades placed from Wisdom Capital platform. NRIs have to open a custodial account (and get a CP Code) before opening the NRI Wisdom Capital trading and Demat account.
Once the above 3 accounts are established, an NRI can open Wisdom Capital 2-in-1 accounts. This account includes a trading and Demat account.
Trading account is necessary to place buy or sell requests in Indian stock exchanges. Wisdom Capital broker offers an online trading platform to fulfill the trading needs of the NRIs.
NRI Demat Account is used to hold the securities in electronic format. In India, a Demat account is mandatory to safeguard the securities. Although, you can easily access the securities anytime.
Wisdom Capital offers both the NRE and NRO Demat account for NRIs. All the transactions under the NRE PIS Account are reported to RBI.
Wisdom Capital offers a faster and convenient trading experience through its online trading platforms. Once you complete the account opening process, you can start investing in equity delivery segment by following the below process:
Transfer funds in the NRI PIS Bank Account which is linked to your NRI trading account. Once funds are available, the bank informs the broker about this who increases the trading limit of your account.
Login to the NRI trading platform offered by the broker. Place a buy or sell request through the platform. The system will check the availability of the funds and shares in case of buy and sell request, respectively. If everything is correct, the order is executed on the stock exchange.
Depending on the buy or sell order, the respective account is debited or credited. When it is a buy order, the NRI bank account is debited with money and the Demat account is credited with shares. Opposite of it happens, when it is a sell order.
All the transactions in equity delivery segments are reported to RBI. At the end of the day, the broker sends a separate buy and sell contract note to the bank. And, the bank further informs RBI regarding the transactions.
Wisdom Capital NRI brokerage charges for trading in Equity and Equity Derivatives.
Transaction | Fee |
---|---|
NRI Account Opening Charges | |
NRI Account AMC | |
Equity Delivery Brokerage | |
Equity Future Brokerage | |
Equity Options Brokerage | |
Other Charges |
Trade Eye is a smartphone application that facilitates anytime, anywhere trading in Indian stock markets. It provides a range of features like the market watch, charting, order book, trade book, net position, & funds view, etc.
Wisdom capital also offers NEST Trader for free to all the customers. The NEST Trade is an installable trading terminal to trade at BSE, NSE, and MCX.
The investment options available to an NRI at Wisdom Capital.
Investment Option | Status |
---|---|
Stocks | Yes |
Mutual Funds | Yes |
IPO | No |
Others |
Wisdom Capital NRI account opening process is quite simple. Below are the steps to open NRI account with Wisdom Capital.
If you are in India, you can open an NRI Bank account with any of the designated banks. After opening an NRI SB account, you will need to request for PIS permission. The custodian account is also mandatory if you want to invest in the equity derivatives segment. So, after opening the NRI SB account, PIS account and custodial account, you can follow the below process for account opening with Wisdom Capital.
Below is the list of documents, an NRI has to attach along with the application form:
You can provide the combination of any documents mentioned below as a proof of address, identity, and bank account:
Note:
Feature | Status |
---|---|
3-in-1 Account | No |
Free Research and Tips | Yes |
Automated Trading | Yes |
Other Features |
Wisdom Capital offers mutual fund services to NRI investors.
Wisdom Capital NRI Support Desk contact information. Find Wisdom Capital NRI contact number.
Wisdom Capital NRI Helpline | Number |
---|---|
Wisdom Capital NRI Customer Care Number | 1800-123-9343 |
Wisdom Capital NRI Customer Care Email ID | accounts@wisdomcapital.in |
Wisdom Capital is an online broker with very little investment in technology. This makes it difficult for Wisdom Capital to compete with other discount stock brokers including Zerodha, 5Paisa, Upstox, and ProStocks, etc. Except for investment advisory and trading courses, Wisdom doesn't have any unique selling point.
Wisdom Capital allows linking of its trading account with any RBI designated bank offering NRI Bank Account.
If non-resident Indians already have an NRI account with a bank i.e. ICICI, HDFC or Axis Bank, they can simply request for PIS permission to trade and invest in the Indian stock market.
Wisdom Capital Trading School courses are paid courses. They are available to all the investors.
Wisdom Capital allows two types of Demat account for NRIs including NRE and NRO Demat account. For the repatriable purpose, they can link the NRI bank account with NRE Demat account. Whereas, for non-repatriable purpose, they can open NRO Demat account.
No, Wisdom Capital doesn't offer custodial services for the investors. The broker has tied up with Globe Capital Market Ltd for trading settlement. The NRIs who want to trade and invest in the equity derivatives segment have to open a custodial account with Globe Capital to obtain a CP code.
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Information on this page was last updated on Tuesday, September 24, 2019
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