Wisdom Capital: Currency Trading: Brokerage, Charges, Reviews: 2024

Wisdom Capital is a top-notch online trading company in India that has a record of good performance in the discount brokerage service for currency, commodities, futures and options, stocks on NSE, BSE, MCX and NCDEX. 

It also includes a wide range of services such as Trading Account, Depository Services, Intraday Account, Trading school, Demat Account and Advanced customer support which includes Email Support, Live Chat and Toll-Free number with a super-friendly helpful staff even intense hours.

What is Currency Trading?

The Forex market is where currencies are traded and this market has the largest volume of the world's business, this market never closes during the working week. In the forex market, people from all countries of the world participate every day and it is the leading financial market in the world that reflects the financial dynamics of world trade very clearly.  

Currency market is mainly two types, the first one is the cash market or spot market and the second one is the futures market where currency futures are traded. Futures are the preferred way of doing trades in the Indian currency market. 

There is no doubt to say that currency trading is a hedging tool and powerful investment. It is a contract between two currencies that can be exchanged at a specific rate at a future date and by trading in currencies investors can hedge against foreign exchange risk. 

The foremost thing to remember in currency trading is that the trade is always done between a pair of currencies. Dissimilar in the stock market where we buy a share of one company, currency trading will involve taking a position on a currency pair. 

For example, the EUR/USD rate represents the number of US dollars one Euro can buy. Suppose, we think the Euro will increase in value against the US dollar, then we buy Euros with US dollars. Once the exchange rate rises, we can sell the Euros back, and we cash in our profit. 

How Currency Trading Is Done Through Wisdom Capital?

Intraday: As per the brokerage plan selected by the customer, Wisdom Capital offers 5 times leverage in currency future and option writing.  In the product type MIS, the leverages will be available.

Carry Forward: The leverage offered by Wisdom Capital in currency carry forward follows as:

According to the exchange’s guideline, the initial margin or span margin including exposure margin will be required to carry the position till the expiry day or to take the overnight position. As per the exchange, you need to maintain the stipulated margin on a daily basis, through this you can avoid penalties for the shortfall. You need to place orders in the product type NRLM.

What are Wisdom Capital Currency Future and Option Brokerage?

In currency future and option brokerage will charge as per the selected plan. 

1.There is no Securities Transactions Tax (SST).

2.Transaction or Turnover charges are ₹0.

3.Goods and Services Tax (GST) is 18% on (Brokerage + Transaction Charge)

4.SEBI Charges is 0.00005% (₹5/Crore)

5.Stamp Charges will be charged as state-wise. 

Wisdom Capital is proud to have 500+ Franchises in India with more than 25000+ happy customers. They keep their customers up-to-date with the latest trends, events happening and news of the stock market and forex market. Wisdom Capital also provides a currency Margin Calculator to its customers since currency trading is a legitimate way to make a profit.