Marwadi Shares and Finance Ltd. is a financial service provider company operating in the financial markets for almost 3 decades. This full-service brokerage company is one of the leading in India that has been ranked amongst the top 10 in the BSE ratings multiple times.
Marwadi Shares is a Gujarat based broking firm facilitating broking as well as Wealth management services. They are spread across 104 branches nationwide and employ more than 1400 authorized sub-brokers assisting a client base of 4 lakh plus. Founded in 1992 by Pranav M. Shah, Marwadi Shares and Finance Ltd. is affiliated and licensed to trade in NSE, BSE, NCDEX, MCX security exchanges. The company is also a Depository Participant of NCDL and CDSL.
It facilitates trading in a wide segment of securities ranging from equity, derivatives, currency to mutual Funds, and insurance. They cater to the needs of retail as well as an institutional investor. However, The Marwadi group is geographically limited to mostly Gujarat with little online interaction with the client. An investor has to personally approach the broker for the brokerage details as they work on a customized brokerage policy. The Marwadi shares group frames individual brokerage as per a person's financial needs. Although they do promise for it to be value for money services.
As far as customer support is concerned, the services offered are not that great. The group releases a list of complaints by the Marwadi traders to the stock exchanges. These complaints are grievances which the broker and trader could not resolve. The annual report also shows the number of active clients and the difference between clients at the start and end of a financial year.
They are less technologically inclined when it comes to trading platforms. In a market place where full-service brokers are going fully digital, Marwadi Shares pay less attention to online trading. They outsource their web and terminal-based software. However, the mobile application is in-house. Let's look at the trading platforms it offers:
It is a terminal-based software outsourced from a third party by the Marwadi group. It offers decent features and multitasking facilities. It allows the customer to create multiple strategies of trade and grants access to market insights. This platform supports trading in BSE cash, NSE cash, NCDEX, NSE, F&O, and MCX currency. In addition, it provides in-built intelligence providing technical and fundamental analysis of the stocks.
The only issue with such outsourced software is client-broker communication delays. As it passes through a third party, the complaints or feedbacks take time to reach the Marwadi group brokers, thus making the whole process a little complicated. The software is free of cost for the Marwadi Shares customers.
It is a web-based software accessible through multiple browsers like Chrome, Firefox, Internet Explorer, etc. NSE NOW is also an outsourced software and does not need any installing to use on your mobile phone, tablet, PC, or desktop. It is a lightweight website facilitating multiple charts with technical indicators.
The fund transfer process is user friendly offering a high-speed experience. One can trade with all the registered exchanges with Marwadi Shares using this website.
It is the only platform serviced and operated by the Marwadi Group itself. With a decent interface, the application provides multiple functions as a live market watch. different analytical charts, trade books, fund reviews, etc. Charts of the historical performance of stocks are also included in the mobile app.
However, some customers have complained about a complicated experience with the app with hard to navigate from one page to another and sometimes even facing login issues.
Due to an almost negligible online presence, you can contact Marwadi group through Email or the customer care number. You can also visit the website but would not find the brokerage plan details there. It is best to physically contact this stock broking company for optimum services.
Like opening account with other brokers you need few documents here also:
|Demat Account Opening Charges||₹0|
|Trading Acc Opening Charges||₹0|
|Trading Account AMC||₹0|
|Demat Account AMC||₹450 per year or one time fee of ₹2500|
|Equity Options||₹100 per lot|
|Currency Options||₹100 per lot|
Marwadi share does offer currency trading as it allows trading the MCX with brokerage fees of 100 rupees per lot or 0.02% of the trade executed; whichever is lower. They do offer a brokerage calculator for currency trading. However, the high brokerage fee and the low credibility of research might
Marwadi shares is a stockbroker that offers commodity trading services to users through the MCX. The brokerage fee charged on commodity trading is 0.02%.
Marwadi shares is a financial company that offers trading services in currency, commodity, IPO and other segments of the NSE, BSE, MCX and NCDEX. Moreover, they are