TradeSmart review

TradeSmart is a discount broker based in Mumbai, offering flexible plans for low-volume and high-volume investors. Each account comes with live-chat customer support, stock alerts, trade ideas and a range of trading platforms for you to choose from.

This review compares the pros and cons of holding a TradeSmart account, to help you decide if it’s the best trading account for you.

Compare TradeSmart as an online broker

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Name	Product	Number of stocks	CFDs	Shares	Available Markets	Link
TradeSmart		All NSE/BSE listed stocks	No	Yes	IN	Go to site More info		loading Fetching your data...

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What markets can I trade?

• NSE (National Stock Exchange of India)
• BSE (formerly Bombay Stock Exchange)
• MCX (Multi Commodity Exchange of India)

TradeSmart accounts

TradeSmart offers two types of trading accounts: a Value Trading plan for low-volume traders and a Power Trading plan for high-volume traders. Low-volume traders are traders who buy and sell a smaller number of shares, such as individual investors. High-volume traders, on the other hand, are usually institutional, corporate or high net-worth investors who make much larger trades.

The main difference between these two accounts is how fees are calculated. The Value Trading plan charges a percentage-based trading fee, making it ideal for investors who make smaller-sized trades.

The Power Trading plan, on the other hand, charges a flat fee on all trades. This makes the unit cost of trading lower with larger investment amounts, thus appealing to high-volume investors.

TradeSmart account features

You can look forward to these features regardless of which TradeSmart plan you end up choosing.

• A range of trading products.
  • Stocks and ETFs: TradeSmart allows you to trade stocks and ETFs on the NSE and BSE.
  • Futures: You can trade equity, commodity and currency futures on the NSE, BSE and MCX.
  • Options: With TradeSmart, you can trade both currency and equity options on the NSE and BSE.
• Three trading platforms to choose from.
  • Trader Desktop. The Trader desktop offers a range of professional trading tools and charting services. There are three versions of Trader Desktop you may choose from: NEST, Fox Trader and Dartstock. Each of these platforms provides access to different markets, analysis tools and dashboards.
  • SINE trading app. Available on both the Android Play Store and Apple App Store, TradeSmart’s mobile app allows you to place trades wherever you are, whenever you want.
  • SINEWeb. The TradeSmart browser-based trading application allows you to conveniently log on to your account online.
• Leveraged intraday exposure: With TradeSmart, you can get up to 30x exposure on equities, 7x exposure on futures and options, 3x on currencies and 6x exposure on all commodities traded.
• Extensive customer support: To resolve any query or trading issue, you can contact TradeSmart’s support team over the phone, via email or even live web chat.
• Alerts: Set alerts to be notified of any sudden stock movements.
• Trade ideas: Receive research reports, free stock tips, and weekly reports with TradeSmart.

What are TradeSmart’s fees?

Trading fees

Trading fees are fees associated with buying and selling financial products. This includes commissions, spreads, and currency conversion fees, as shown below.

• Intraday equity: 0.007% of the trading amount (low volume traders) or ₹15 per order (high volume traders).
• Equity delivery: 0.07% of the trading amount (low volume traders) or ₹15 per order (high volume traders).
• Equity futures: 0.007% of the trading amount (low volume traders) or ₹15 per order (high volume traders).
• Equity options: ₹7 (low volume traders) or ₹15 (high volume traders).
• Currency futures: 0.007% of the trading amount (low volume traders) or ₹15 per order (high volume traders).
• Currency options: ₹7 (low volume traders) or ₹15 per order (high volume traders).
• Commodity options: 0.007% of trading amount (low volume traders) or ₹15 per order (high volume traders).

Miscellaneous fees

These fees are costs incurred from account-related activities or taxes.

• Securities transaction tax: 0.0113% of your total returns
• SEBI turnover charges: 0.0007% of your total turnover
• Stamp Duty: depends on which state you live in
• GST: 18% of the total broker and transaction charges you’ve paid
• Account opening charge (one-time): ₹500
• Account maintenance fee: none

Do note that the list of fees above is not exhaustive. The amount you could incur with TradeSmart depends on your trading amount and investment decisions. Do get in touch with TradeSmart before opening an account so that you can get a better understanding of how much you could end up paying.

Pros and cons

Is TradeSmart safe?

TradeSmart is backed by VNS Finance, a licensed financial services company in India. It is therefore considered to be safe and largely protected from default.

Note: Investing and trading itself always carries risks which you should be aware of, so read up before you start investing. Do your research and compare brokers in India before signing up with any trading platform.

How do I sign up for an account?

Sign up with TradeSmart by following these steps.

• Fill up the online registration form, providing information like your full name, contact number, email address and bank account details.
• You will be asked to submit supporting documents. This may include a copy of your PAN card, salary slips, Aadhaar card, proof of residence, and a passport-sized photo.
• Verify your identity, either by visiting a TradeSmart office in person or doing so via a quick video call.

It will take approximately three days for your application to be approved. Following this, you’ll be given your account details and you can start trading immediately.

Bottom line

As a discount broker, TradeSmart offers accessible investment plans to both low-volume and high-volume investors. While it provides limited trading instruments and market reports, its platform comes with relatively lower fees compared to other brokers in the market. This makes it a great choice for investors looking to trade more while spending less.