Nuvama Wealth Review

Category: Reviews | Author: Trading Brokers | Date: October 12, 2023

Investing in the financial markets can be intimidating, especially for those new to the game. That’s where platforms like Nuvama Wealth come in, an online platform that offers various financial products and services to help investors achieve their goals. Whether you are looking for stocks, mutual funds, derivatives, commodities, currency, insurance, or primary markets, Nuvama Wealth has something for you. But how does Nuvama Wealth compare to other online brokers in terms of regulation, platforms and tools, education, markets, accounts, and funding? In this article, we will review these factors and provide you with an unbiased and comprehensive assessment of Nuvama Wealth and also highlight its pros and cons.

Pros & Cons

  • Robust relationship management team
  • Offers access to bonds and debt instruments
  • Offers a wide range of financial products and services
  • Provides a user-friendly trading platform
  • Flat discount brokerage plan to trade at just Rs 10 per order in intraday, delivery, futures & options, currencies, and commodities futures segments
  • Provides an IPO platform that enables clients to participate in initial public offerings
  • Concentrated resource profile, with a moderate level of financial leverage
  • High brokerage charges compared to some competitors in the market
  • No 3-in-1 account opening facility
  • Offline account opening procedure is time-consuming

Summary 

Nuvama Wealth Review

Nuvama Wealth Review

Nuvama Wealth is a full-service broker that provides a range of financial products and services to its clients. It is a part of the Nuvama Group (formerly known as Edelweiss Securities), which is one of India’s leading and most renowned wealth management service providers. Nuvama Wealth offers its clients a comprehensive suite of financial products, including equity, equity derivatives, commodities, currency, IPO, mutual funds, and margin trading. It is regulated by SEBI and is licensed to carry out various activities related to stockbroking, investment advisory, research analysis, and more. The company’s proprietary trading software, Nuvama Market, allows clients to trade quickly and efficiently across multiple asset classes. Additionally, Nuvama Wealth offers terminal X3, a powerful trading tool that enables clients to analyze and execute trades with ease. Investology, another unique offering from Nuvama Wealth, provides clients with a range of investment options tailored to meet their individual needs and goals.

Nuvama Wealth provides its clients with various funding options to meet their trading and investment needs. These include loans against securities, ESOP financing, IPO funding, and margin trading facilities. Nuvama Wealth also allows its clients to transfer funds to and from their trading account using different modes, such as UPI, net banking, NEFT/RTGS, and cheque. There are no charges on funds transferred via UPI, while net banking mode attracts a payment gateway charge of Rs 10 for Lite plan users and nil for Elite plan users. There are no charges on funds withdrawal requests.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Nuvama Wealth is a wealth management company that is regulated by the Securities and Exchange Board of India (SEBI). The company is licensed to carry on the business of Research Analysts, including preparing and distributing research reports. Nuvama Wealth Management is owned by private equity fund PAG, while Edelweiss’ Rashesh Shah and Venkat Ramaswamy will have a 9% ownership between them. The company has a team of experienced professionals who are responsible for various investment decisions, including product due diligence, portfolio advisory, asset allocation, risk management, publishing investment communications, and ensuring compliance with regulatory requirements. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Nuvama Wealth offers various platforms and tools for its clients to access its products and services. These include:

  • Nuvama Market: Nuvama Market is a mobile trading app that allows clients to trade and invest in the Indian stock market across equity, derivatives, currency, commodity, mutual fund, and primary market segments.
    Nuvama Market

    Nuvama Market

    Nuvama Market provides live market data, advanced charting, trading tips, portfolio tracking, fund transfer, and more features to help clients make informed decisions. Nuvama Market is available for Android and iOS devices.

  • TX3: TX3 is a desktop-based trading terminal that provides a comprehensive solution for traders. TX3 offers fast execution, insightful market data, powerful charting, analytical tools, smart order routing, and more features to help clients optimize their trading strategies.
    TX3

    TX3

    TX3 supports multiple asset classes, such as equity, derivatives, commodity, currency, mutual fund, and smallcase.

  • API Connect: API Connect is a platform that allows clients to build, integrate, and trade with Nuvama Wealth’s APIs. API Connect enables clients to access Nuvama Wealth’s products and services programmatically, customize their trading experience, automate their workflows, and leverage third-party tools and platforms. API Connect supports RESTful APIs and mobile SDKs.

Education

Nuvama Wealth believes that education is the key to success in the world of finance and trading, and provides its clients with various educational resources to help them learn and improve their trading skills. Nuvama Wealth offers its clients access to the following educational resources:

  • Webinars: Nuvama Wealth conducts live and recorded webinars on various topics related to trading, such as market analysis, technical analysis, fundamental analysis, risk management, and trading psychology. These webinars are hosted by experienced traders and analysts, who share their insights and tips with the participants. Clients can register for the upcoming webinars or watch the archived ones on the website.
  • Videos: Nuvama Wealth provides its clients with a collection of videos that cover various aspects of trading, such as trading platforms, trading tools, trading strategies, and trading examples. These videos are short and easy to understand, and help clients get familiar with the features and functionalities of Nuvama Wealth’s products and services.
  • eBooks: Nuvama Wealth offers its clients a series of eBooks that cover various topics related to trading, such as market basics, technical indicators, chart patterns, candlestick patterns, and trading systems. These eBooks are comprehensive and detailed and help clients gain in-depth knowledge of the concepts and techniques of trading.
  • Tutorials: Nuvama Wealth provides its clients with step-by-step tutorials that guide them through the process of opening an account, funding an account, placing an order, modifying an order, closing an order, and withdrawing funds. These tutorials are simple and practical and help clients get started with their trading journey.

Markets

Nuvama Wealth grants its clients access to multiple markets across the globe, allowing them to diversify their portfolios and take advantage of market opportunities. It offers its clients access to the following markets:

  • Equity Trading: Nuvama Wealth provides a platform for trading in equity shares of companies listed on the Indian stock exchanges. This includes both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Nuvama Wealth offers a flat discount brokerage plan to trade at just Rs 10 per order in intraday, delivery, futures & options, currencies, and commodities futures segments.
  • Equity Futures and Options Trading: Nuvama Wealth offers trading in equity futures and options. Nuvama Wealth provides high leverage across multiple segments, allowing traders to amplify their positions and potentially increase their returns. However, it’s important to note that high leverage also comes with increased risk, so it should be used with caution and appropriate risk management strategies.
  • Commodity Trading: Nuvama Wealth provides a platform for trading in commodity derivatives. This includes trading in commodities such as gold, silver, crude oil, Brent crude, and copper. Nuvama Wealth offers a flat discount brokerage plan to trade at just Rs 10 per order in intraday, delivery, futures & options, currencies, and commodities futures segments.
  • Currency Trading: Nuvama Wealth provides a platform for trading in currency derivatives. Nuvama Wealth offers a flat discount brokerage plan to trade at just Rs 10 per order in intraday, delivery, futures & options, currencies, and commodities futures segments.
  • Mutual Funds: Nuvama Wealth offers mutual fund investment services. Nuvama Wealth provides free direct mutual fund investment services, which can help customers save on commissions and fees.
  • IPOs: Nuvama Wealth provides a platform for investing in Initial Public Offerings (IPOs). Customers can apply for IPOs online through the Nuvama Wealth website or mobile app.
  • Non-Convertible Debentures (NCDs): Nuvama Wealth offers trading in NCDs. NCDs are long-term financial instruments issued by companies for a specified tenure with a promise to pay fixed interest to the investor. NCDs are of two types, namely convertible debentures and non-convertible debentures (NCDs). Non-convertible debentures (NCD) are those which cannot be converted into shares or equities

Accounts

Nuvama Wealth offers various types of accounts to suit the varied needs of traders and investors. These include:

  • Demat Account: Nuvama Wealth Management is a CDSL and NSDL depository participant that allows customers to open a demat account. The demat account provides digital safety to investments in shares, securities, and mutual funds by keeping them in electronic form. Types of accounts include Resident Individual, Hindu Undivided Family (HUF), Domestic Corporate, Non-Resident Indian (NRI), and Clearing Member (Pool Account).
  • Trading Account: Nuvama Wealth offers a trading account that allows customers to trade or invest in multiple asset classes, including shares, derivatives, currencies, and commodities. Nuvama trading account allows customers to place buy and sell orders in different segments. Note that you can only open a 2-in-1 account (Trading and Demat) in Nuvama.
  • Investment Account: Nuvama Wealth offers an investment account that provides access to thousands of direct and regular mutual fund schemes across equity, debt, hybrid, and ELSS tax-saving categories. All the top AMCs like HDFC, Axis, Tata, SBI, Mirae, etc. are available on the platform. You can start a SIP or make a one-time investment in your choice of scheme. You can also invest in Non-convertible debentures (NCDs) with a Nuvama trading account.

Nuvama Wealth offers two types of trading accounts to suit the varied needs of traders and investors:

  • Nuvama Lite: This online trading plan is for customers who are looking for a low-cost trading platform and require very little help from the broker on a day-to-day basis. This plan offers free equity delivery and MF, flat Rs 20/trade Intra-day/F&O.
  • Nuvama Elite: This is a full-service brokerage plan for frequent traders who are looking for privileged service, personalized offerings, and proactive advice. This plan offers a flat Rs 10 per order + free trading tips + Rs 0 account opening fee.

Note that Nuvama Wealth does not offer a 3-in-1 account (Bank + Demat + Trading) like other bank-based full-service brokers such as ICICI Direct and HDFC Securities

Funding

Nuvama Wealth also provides its clients with various funding options to meet their trading and investment needs. One of the funding options is UPI, or Unified Payments Interface, which is a fast and easy way of transferring money using a mobile app. Clients can use any UPI-enabled app to deposit or withdraw money from their trading account instantly. There are no charges on funds transferred via UPI. Another funding option is a payment gateway, which is a way of transferring money using a web browser. Clients can use their debit card, credit card, or net banking to deposit money into their trading account within a few minutes. There are no charges on funds transferred via the payment gateway for Elite plan users, while Lite plan users have to pay Rs 10 per transaction.

A third funding option is a non-registered bank account, which is a way of transferring money using NEFT or RTGS. Clients can use this mode to deposit or withdraw money from their trading account from any bank account that is not registered with Nuvama Wealth. The funds will be credited to their account within 24 hours for NEFT and within 30 minutes for RTGS. There are no charges on funds transferred via a non-registered bank account. Nuvama Wealth also offers other funding options, such as loans, fund transfers, and margin trading. These are short-term loans that are extended to the existing clients of the wealth management business, based on their securities or stock options as collateral.

Conclusion

In conclusion, Nuvama Wealth is a comprehensive and regulated financial platform that caters to a wide spectrum of investor needs. As part of the Nuvama Group, it offers an array of financial products and services, backed by SEBI regulation for security and compliance. The platform provides tools like Nuvama Market and TX3 for traders, along with educational resources to enhance skills. It offers access to various markets, including forex, indices, commodities, and cryptocurrencies. Nuvama Wealth’s flexible account types and funding options cater to diverse preferences and requirements. With UPI-enabled transfers and minimal fees, funding convenience is emphasized. This review provides insights into the platform’s strengths and considerations for prospective users. However, it’s worth noting that while Nuvama Wealth offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

Nuvama Wealth Logo

₹0

Nuvama Wealth is a full-service stockbroker that offers a range of financial services including equity trading, derivatives trading, mutual funds, and IPOs. They have a strong presence in India with over 100 branches across the country. Nuvama is regulated by SEBI and is licensed to carry out various activities related to stockbroking, investment advisory, research analysis, and more.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


About the Author

trading brokers logo

Trading Brokers
Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey. We have over 20 years of experience when it comes to trading online so we know what to look for.


Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.