Patel Wealth Advisors Review
In the Indian economy, the stockbroker market is highly competitive. It becomes difficult for an average investor to choose a stockbroker that will provide him all the facilities at an economical rate. You can find a review of Patel Wealth Advisors on this page.
Patel Wealth Advisors review reflects Patel Wealth Advisors credibility, making the stockbroker review not only an essential but crucial factor while picking a stockbroker.
On this review you can get important information, such as what is Patel Wealth Advisors charging per trade, what kind of securities they are dealing in, are they providing any additional services that other stockbrokers are not delivering, how profitable are the monthly trading plan, are they providing any incentives and finally how experienced they are in handling their customers and investing their money. Stockbroker reviews also offer an insight into the services they are lacking and the service they need to improve.
After examining and comparing the cost-benefit analysis of various stockbroker reviews, an investor can pick a stockbroker that falls under his requirements and budget.
Also, you can visit Patel Wealth Advisors brokerage calculator for a detailed report on brokerage charges.
Patel Wealth Advisors Customer Reviews and Ratings
| Category | Ratings |
|---|---|
| Brokerage Charges/Fees | |
| Trading Platforms | |
| Products and Services Offered | |
| Average Ratings | |
| Total Reviews | 1422 |
Overview
Patel Wealth Advisors is a Private trading company. Patel Wealth Advisors was founded by Kaushal Patel Vasantrai in 2015 and has its headquarters in Rajkot GJ. In general, full service brokers provide more investment advice and perform detailed stock analysis for their clients. The brokerage fees are also towards the higher side.
| Overview | Patel Wealth Advisors |
|---|---|
| Broker Type | Full Service Broker |
| Type of company | Private |
| Headquarter | Rajkot GJ |
| Founders | Kaushal Patel Vasantrai |
| Foundation Year | 2015 |
Patel Wealth Advisors Trading Account Opening and Demat Charges
Demat (short for dematerialization account) account is used for holding securities in electronic form, and the securities are deposited through National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
The account opening charges vary from 0 to Rs.200 for various brokers. Patel Wealth Advisors charges Rs.250 for account opening.
Once you have opened a Demat account, you have to pay certain charges such as account maintenance charges, broker commission, GST, STT. The AMC (Annual Maintenance charges) are around Rs.300, and the discount broker usually charges Rs.20 per executed trade as their commission.
As mentioned above that the CDSL and NSDL are both depositories registered by the Indian government to hold securities such as stocks, commodities, bonds, ETF's in electronic form or copies, and different brokers use one of the two depository types. Patel Wealth Advisors uses CDSL & NSDL as the depository.
| Account Opening and Demat Charges | Patel Wealth Advisors |
|---|---|
| Trading Account Opening Charges | Rs.250 |
| Demat AMC (Annual Maintenance Charges) | Rs.250 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free |
| Margin Money | Minimum Rs.1,500 |
| Offline to Online Charges | Yes |
| Depository | CDSL & NSDL |
Patel Wealth Advisors Equity Brokerage Charges
Apart from the AMC charges, an investor also has to face other charges for using different services by the broker.
Equity delivery charges: This basically means that you hold the securities for a certain amount of the time in your Demat Account and sell it at the right time to make a gain on your investment. As the competition is really high for brokers in this area, they usually charge Rs.0 for equity delivery to attract more customers, while some charge up to Rs.20 per executed trade. Patel Wealth Advisors charges 0.35% for equity delivery .
Equity Intraday: As the name tells, equity intraday means buying and selling of stocks/shares within the same day. Patel Wealth Advisors charges 0.04% for equity intraday.
Equity Futures: This term means buying and selling shares at a fixed price on a future date. Patel Wealth Advisors charges 0.04% for equity futures.
Equity Options: They allow an investor to buy or sell stocks under a set or strike price through a contract (1 contract = 100 shares). Patel Wealth Advisors charges Rs.35 per Lot for equity options.
| Equity Brokerage Charges | Patel Wealth Advisors |
|---|---|
| Equity Delivery Brokerage | 0.35% |
| Equity Intraday Brokerage | 0.04% |
| Equity Futures Brokerage | 0.04% |
| Equity Options Brokerage | Rs.35 per Lot |
Patel Wealth Advisors Currency Brokerage Charges
Many discount brokers are providing their services in India right now. Still, not all of them are trading stocks, currency, and commodities. However, those who are the top-performing ones do provide their services in these areas with separate charges.
Currency future: This term is also commonly known as FX future or foreign exchange future. As the name suggests, it's a future's contract to exchange one currency for another currency at a specific future date at an exact or fixed price at the purchase date. This concept is similar to that of equity futures. Patel Wealth Advisors charges 0.04% for currency futures.
Currency Options: As with equity options, a currency option is a contract that gives a buyer the right (not obligation) to buy or sell a particular currency at a fixed exchange rate on or before a specific date. Patel Wealth Advisors charges Rs.35 per Lot for currency options.
| Currency Brokerage Charges | Patel Wealth Advisors |
|---|---|
| Currency Futures Brokerage | 0.04% |
| Currency Options Brokerage | Rs.35 per Lot |
Patel Wealth Advisors Commodity Brokerage Charges
Commodity trading: The textbook definition of a commodity is a raw material or primary agricultural product that can be bought or sold. In the world of trading, this concept is prevalent. Many traders buy or sell gold, silver, and oil, and many brokers are providing their services online to ease this process of buying and selling raw materials. Patel Wealth Advisors charges 0.04% for commodity trading.
| Commodity Brokerage Charges | Patel Wealth Advisors |
|---|---|
| Commodity Options Brokerage | 0.04% |
Patel Wealth Advisors Other Charges
Other brokerage charges that an investor should keep in mind are
Minimum broker charges: Patel Wealth Advisors charges Percentage of Transaction as minimum brokerage charge.
Transaction brokerage charges: These are charges that a customer face on every transaction completed by DP (depository participant) Patel Wealth Advisors charges 0.00305% as transaction brokerage charges. charges.
SEBI Turnover charges: Securities and Exchange Board of India (SEBI) is the regulator of the security and commodity market. It keeps a check on fair trade for all investors and charges a certain amount for their turnover. Patel Wealth Advisors charges 0.0002% of Total Turnover as sebi turnover charges.
Stamp Duty charges: Stamp duty charges vary depending on the state and the type of asset class.
GST Charges (Goods and Services Tax): A GST of 18% on brokerage and transaction charges is applied.
STT (Securities transaction tax): Patel Wealth Advisors charges 0.0126% of Total Turnover as STT.
| Other Brokerage Charges | Patel Wealth Advisors |
|---|---|
| Minimum Brokerage Charges | Percentage of Transaction |
| Transaction Brokerage Charges | 0.00305% |
| SEBI Turnover Charges | 0.0002% of Total Turnover |
| Stamp Duty Charges | As per the state (Use Patel Wealth Advisors Brokerage Calculator to see report) |
| GST Charges | 18% of (Brokerage + Transaction Charges) |
| STT Charges | 0.0126% of Total Turnover |
Patel Wealth Advisors Equity Exposure/Leverage
Exposure relates to the amount of money an investor has invested in a particular trade/stock and the amount he can lose on that trade/stock. Leverage links with exposure; if an investor wants to increase his exposure on a specific trade/stock, he can use leverage to take a much bigger position on the trade with his broker's help. Leverage of 1:500 means that for every $1 or Rs.1 of their share capital, the trader receives $500 or Rs.500 to trade with. This concept is expected in stock and forex trading, and many brokers provide even more than 1:500 leverage to attract more customers to use their services and trade through them.
| Equity Leverage | Patel Wealth Advisors |
|---|---|
| Equity Delivery | Upto 2X |
| Equity Intraday | Upto 5X |
| Equity Futures | Upto 3X |
| Equity Options | Upto 4X |
Patel Wealth Advisors Currency Leverage
| Currency Leverage | Patel Wealth Advisors |
|---|---|
| Currency Futures | Upto 4X |
| Currency Options | Upto 3X |
Patel Wealth Advisors Commodity Leverage
| Equity Leverage | Patel Wealth Advisors |
|---|---|
| Commodity | Upto 3X |
Patel Wealth Advisors Offers
Many stockbrokers are providing attractive offers to capture more customers. These offers are as follows:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get brokers' services at a discount.
1-month free plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on loss trade: complete refund of money on unsuccessful trades.
| Offers | Patel Wealth Advisors |
|---|---|
| Free Stock Trading Account | Yes |
| Free Demat Account | No |
| Flexible Plans | Yes |
| Brokerage Discounts | Yes |
| Happy Hours | No |
| 1 Month Free Plan | No |
| Holiday Offers | Yes |
| Referral Program | Yes |
| Zero Brokerage on Loss Trades | No |
Patel Wealth Advisors Features
Apart from attractive and catchy offers, many stockbrokers provide services that are appealing to investors and traders. The services are as follows:
- Mutual Funds: helping investors build their long term investment portfolio for maximum return and minimum risk after performing proper fundamental and technical analysis.
- Forex: many stockbrokers are not only providing their services in the stock market sector but also in Forex.
- Banking: full-service brokers are also providing their services in the banking sector.
- SIP (systematic investment plans); this is a branch that falls under a mutual fund's services, many brokers help investors shape their investment portfolio systematically for maximum returns.
- Insurance: Top performing brokers even provide insurance plans for their clients.
| Features | Patel Wealth Advisors |
|---|---|
| Equity Delivery Trading | Yes |
| Equity Intraday Trading | Yes |
| Equity Futures Trading | Yes |
| Equity Options Trading | Yes |
| Currency Trading | Yes |
| Commodity Trading | Yes |
| IPO (Initial public offering) | Yes |
| Stocks Suggestions | Yes |
| Robo Advisory | No |
| PMS (Portfolio Management Services) | No |
| Trading Institution | No |
| Trading Exposure | Upto 5X |
| Mutual Funds | No |
| SIP (Systematic Investment Plan) | No |
| Forex Trading | No |
| Banking | No |
| Insurance | Yes |
Patel Wealth Advisors Advisory Services
The main difference between a discount and a full-service broker is the services they provide and the rates at which they are providing.
Discount brokers execute buy and sell orders at a relatively lower commission rate than a full-service broker. Apart from this, a discount broker does not have the skill set to provide in-depth investment advice and analysis on specific stocks and does not have good knowledge of the price-action strategy compared to a full-service broker. All these factors are a significant reason for the difference in their prices.
Fundamental Reports: It is basically the reports related to the analysis of a company's financial statements, which helps the investors and financial analysts to decide regarding the current financial standing of a company.
Research Reports: It is prepared by a financial analyst who is working in hedge funds, investment banks, and mutual funds, and these reports may target a specific company's stock, commodities, currency, or industry.
Company Reports: Company reports are comprehensive and easy to understand reports regarding the company's activities throughout the year, month, or week.
Annual Reports: A branch of a company's report in which a company includes all the activities they have carried out in the previous years and the cost of carrying out those activities and the corresponding profit or loss made while carrying out those activities.
Company Stock Review: Stock review or analysis is comparing the company's financial statements with the previous years. This process also includes analysis of specific ratios such as liquidity ratios, free cash flow ratio, profitability ratio, etc., to get a clear picture of how a stock is performing currently and how profitable a company can be in the future.
Free Stock Tips: Some stock tips for you
- - Read financial magazines such as Bloomberg, The Economist.
- - Never get emotionally attached to your investments.
- - SMS alerts for upcoming IPO's
- - Invest in company's you believe will have an impact on the world in the next 5-10 years, e.g., Tesla
- - Use proper risk management.
- - Diversify your portfolio (choose stocks that are from various industries in order to avoid correlation between them)
IPO reports- A private company go public to increase their funding. This process is done by investment banks, hedge funds by releasing the company's IPOs (initial public offerings).
Top Picks- Top pick stocks are usually the best-performing stocks in a specific year, and it makes it easier for the investor to make an investment call. Some of the top-performing stocks are:
- Bharti Airtel
- Nocil
- Infosys
Daily Market Review: This term focuses on the daily movements and changes in the stock index and tells how many points the index is up or down.
Monthly Reports: Monthly reports are brief yet comprehensive reports focusing on the activities that took place within the month in the company and are used for short term decision making by managers.
Weekly Reports: Weekly reports are summarized reports of the weekly activities in the business and the company's cost to carry out those activities. These reports are used for short term decision making.
Offline Advisory: Advisory is not provided over the internet but by other means such as letters, SMS, and phone calls.
Relationship Manager: The main role of a relationship manager in the banking sector is to deal with the clients and help them make the right decisions, and explain all the firm's financial services in detail.
| Features | Patel Wealth Advisors |
|---|---|
| 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 Trading Platforms
A trader can use different trading platforms to analyze various stocks/currency pairs/commodities and execute buy or sell orders through that platform. There are Desktop platforms such as MetaTrader 4 for Windows and Android phones and MetaTrader 5 for Mac computers and Apple IOS devices. They are commonly referred to as MT4 and MT5. Standard software is TradingView providing its services in both the stock and Forex sectors with a highly optimized user interface. Their interactive charts make it easy for the traders to perform various types of analysis on the charts.
You can link TradingView and other online platforms like these with your cell phone to get real-time updates and SMS alerts for stocks that are on your watchlist. Moreover, these platforms also provide personalized advisory and give you buy or sell signals when an opportunity comes.
Patel Wealth Advisors Desktop Trading Platforms
| Desktop Trading Platforms | Patel Wealth Advisors |
|---|---|
| Windows | Yes |
| Mac | Yes |
| Desktop Browser | No |
Patel Wealth Advisors Mobile Trading Platforms
| Mobile Trading Platforms | Patel Wealth Advisors |
|---|---|
| Mobile Browser | Yes |
| Android App | Yes |
| iOS App | Yes |
| Windows app | No |
| Other mobile os | No |
Patel Wealth Advisors Customer Support
Customer support is a crucial factor that makes a new customer into a loyal and long-term customer. As the world of trading is speedy, an investor needs proper customer support from their brokers to execute orders at the right time to avoid any potential losses. The brokers' responsibility is to be active on live chats, E-mails, helpline numbers, and discussion forums.
| Customer Support Features | Patel Wealth Advisors |
|---|---|
| Relationship Manager | Yes |
| Offline Trading | Yes |
| Online Trading | Yes |
| 24 * 7 Support | No |
| Email Support | Yes |
| Chat Support | No |
| Toll free number | No |
| Support Branches | 380 |
Patel Wealth Advisors Customer Complaints
To keep a strict check and balance on fair-trade opportunities for every trader and investor, BSE and NSE actively take complaints and resolve them. Investors can lodge complaints about trading members, brokers, and companies listed on the index. BSE and NSE take action to resolve them by giving them a specific time to rectify their mistake, and if not rectified, serious measures are taken against them. Find below the total number of complaints lodged in bse or nse. Also you can find how many of those complaints were resolved. The percentage of lodges vs. resolved cases can also be a useful metric to judge a stock broker.
| BSE Complaints | Patel Wealth Advisors |
|---|---|
| BSE Complaints | 0 |
| BSE Resolved Complaints | 0 |
| Percentage of resolved BSE complaints | NaN % |
| NSE Complaints | 1 |
| NSE Resolved Complaints | 1 |
| Percentage of resolved NSE complaints | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | NaN % |
Frequently Asked Questions
Who is the founder of Patel Wealth Advisors?
Kaushal Patel Vasantrai founded Patel Wealth Advisors in the year 2015.
Is Patel Wealth Advisors a discount broker ?
No, Patel Wealth Advisors is not a discount broker. Patel Wealth Advisors is a Full Service Broker in India. In general, full service brokers provide more investment advice and perform detailed stock analysis for their clients. The brokerage fees are also towards the higher side.
Is Patel Wealth Advisors a full service broker ?
Yes, Patel Wealth Advisors is a full service broker in India. In general, full service brokers provide more investment advice and perform detailed stock analysis for their clients. The brokerage fees are also towards the higher side.
Is Patel Wealth Advisors trustworthy ?
Yes, Patel Wealth Advisors is a trustworthy stockbroker in India. To perform trading on behalf of its client, any stockbroker must get a Certificate of Registration (CoR) from SEBI. Patel Wealth Advisors is a SEBI registered broker and has been in the business of stock trading for quite a long time. It was founded in the year 2015.
Is Patel Wealth Advisors safe for trading ?
Yes, Patel Wealth Advisors is safe for trading, just like any other stockbroker, which is legally registered with SEBI. Beginners are generally afraid that they might lose the money that they trade with a stockbroker. However, such panic is not justified.
Is Patel Wealth Advisors good for beginners ?
Beginner stock traders generally like to go with the cheapest stockbroker when starting. Discount stock brokers fit the requirements ideally of a beginner stock trader. Patel Wealth Advisors is Full Service Broker. Though beginners can find it helpful, they have to know that the brokerage charges are on the higher side.
Is Patel Wealth Advisors free ?
Patel Wealth Advisors is a Full Service Broker. Stock brokers have different kinds of charges for different asset classes. A full service broker generally charges more than a discount broker. They try to justify the price by the research and advisory services that they provide.
What are Patel Wealth Advisors brokerage charges ?
Patel Wealth Advisors has different brokerage charges for different asset classes. Patel Wealth Advisors charges 0.35% for equity delivery, 0.04% for equity intraday, 0.04% for equity futures, Rs.35 per Lot for equity options, 0.04% for currency futures, Rs.35 per Lot for currency options, and 0.04% for commodity trading.
How to open Patel Wealth Advisors trading account ?
Opening Patel Wealth Advisors trading account can be simple. Visit the official website of Patel Wealth Advisors and enter your details such as phone number, name, email on the account opening link. You can try registering on the website, and most brokers can complete the account opening process in an entirely online manner. Patel Wealth Advisors would require you to submit documents such as an Aadhaar card, Pan card, income proofs, etc. After these documents are verified, your trading/Demat account is operational.
Is Patel Wealth Advisors NSDL or CDSL ?
Patel Wealth Advisors uses CDSL & NSDL as the depository.
Does Patel Wealth Advisors have any hidden charges ?
Stockbrokers generally publish all of their charges. There are no hidden charges in one perspective. It's just that the end-user has not researched the charges properly. There are a lot of various charges applicable when performing a trade. One should use a brokerage calculator to have a big picture of all the charges. Patel Wealth Advisors charges 0.35% for equity delivery, 0.04% for equity intraday, 0.04% for equity futures, Rs.35 per Lot for equity options, 0.04% for currency futures, Rs.35 per Lot for currency options, and 0.04% for commodity trading.
Compare Patel Wealth Advisors with other stock brokers
Visit the following pages to see a detailed comparision report of Patel Wealth Advisors with other brokerage firms.