Comparing Finvasia and Wisdom Capital: Brokers with Zero Brokerage Services
When it comes to online trading in India, two brokers stand out for their zero brokerage services: Finvasia and Wisdom Capital. Both offer no brokerage fees across equity, commodity, currency, futures, and options trading. However, their differences in other aspects make one broker more appealing than the other. In this article, we will delve into the key differences between Finvasia and Wisdom Capital to guide you in making an informed decision.
Key Differences in Services
Finvasia and Wisdom Capital both strive to provide a seamless trading experience by offering zero brokerage fees. However, their service offerings differ significantly, creating a compelling choice for traders.
1. Unlimited Trading with No Brokerage Fees
Finvasia is known for its no-limit trading philosophy. Traders can conduct unlimited trades without being charged for brokerage fees. This makes it highly attractive for frequent traders looking to minimize costs and maximize flexibility.
2. No Lifetime AMC Charges with Finvasia
One of the standout features of Finvasia is the lack of lifetime AMC (Asset Management Charges) fees. With Finvasia, you can enjoy a demat account without any additional yearly costs. Conversely, Wisdom Capital requires a one-time payment of Rs 999 for lifetime AMC charges.
3. Free Call and Trade Facility with Finvasia
Finvasia also offers free call and trade services for its users. This means traders can access this facility anytime without any additional charges. In Wisdom Capital, call and trade facilities are available only between 9 AM to 12 PM, and each trade incurs a charge of Rs 20.
Additional Services and Terms
While both brokers offer zero brokerage services, their additional services and terms differ significantly.
1. Professional Plan with Wisdom Capital
Wisdom Capital introduces a professional plan (PRO plan) for professional traders, which charges Rs 9 per trade. This is an additional cost that Finvasia does not impose, making it less competitive for all-round trading needs.
2. Leverage and Additional Fees in Wisdom Capital
To access leverage in Wisdom Capital, traders are required to switch to the PRO plan, where brokerage is Rs 9 per trade. Finvasia, on the other hand, allows traders to use leverage without any additional charges.
3. AMC Charges and Demat Account
Another factor to consider is the AMC and demat account charges. In Wisdom Capital, the AMC is free for the first year and Rs 1000 (plus taxes) for subsequent years. However, Finvasia offers AMC for life free of charge. Additionally, the margin offered by Wisdom Capital is less than that of Finvasia, where switching to the PRO plan can increase the margin.
Conclusion
Both Finvasia and Wisdom Capital are reputable Indian brokers, offering zero brokerage services in equity, commodity, currency, futures, and options trading. However, Finvasia stands out with its unlimited trading without brokerage fees, no lifetime AMC charges, and free call and trade facilities. These additional benefits make Finvasia a more attractive option for traders seeking comprehensive services without additional costs.
Ultimately, the choice between Finvasia and Wisdom Capital depends on your specific trading needs, but Finvasia's comprehensive suite of services including free AMC and call and trade facilities gives it an edge.