TradeSmart Online Review

TradeSmart is a part of  VNS Finance & Capital services, which is a SEBI registered entity and was established in 1992. The company claims to have never had any issue with timely pay-in and pay-out of the client’s securities or funds. The client securities at TradeSmart are kept in the client's demat account, and not in their pool account. The company also ensures that all communication regarding any transaction in your account is timely sent to the client, by sending regular emails and SMS alerts from CDSL regarding pay-in and pay-out of securities in your demat account.

TradeSmart has experience in the industry of over 25 years and has successfully been managing a massive client base. Following are some of the benefits of opening an account with TradeSmart:

1. Low cost, two different brokerage plans that match your trading needs.

2. Flexibility to change between any of the brokerage plans at any point in time.

3. Trade-in multiple markets & product.

4. Zero Demat AMC charge for the first year.

5. Quick account opening in 1 day.

6. Trading, charting, and analysis services in one desktop platform.

7. Instant fund transfers with more than 24 Banks.

TradeSmart offers discount brokerage services in equity, commodity and currency trading segments. There are no account opening charges at TradeSmart and it charges a flat fee of Rs 300 per annum as it accounts maintenance charges (AMC). The other TradeSmart brokerage charges depend upon the product segment and upon the type of plan that you have chosen

The following documents are required to be attached with the account opening form:

• PAN card (self-attested clear copy)

• 1 self-attested copy of any of the following documents as Address Proof.

  • Driving License Passport

  • Ration card

  • Latest Telephone Bill

  • Latest Electricity Bill

  • Latest Bank Statement (for last 6 months)

  • Aadhar Card.

  • 1 Passport Size Color Photograph (self-attested)

  • Cheques

  • For Equity/Future &Options/Currency A/C – CTS Cheque favouring “VNS Finance and Capital Services Ltd.” for Rs 400 in case of printed and online form. Rs 500 in case the form was couriered by TradeSmart.

  • For Commodity A/C – CTS Cheque favouring “VNS Commodities Pvt Ltd.” for Rs 200. Rs.300 in case the form was couriered by us.

  • 1 Cancelled cheque

    • Name to be mentioned on the cheque and cheque needs to be cancelled and signed

    • MICR no. & IFSC code should be mentioned on the cheque.

    • Last 6 months Bank Statement (in case of F&O/Currency/Commodity A/C)

Currently, TradeSmart does not charge any account opening charges. But TradeSmart charge annual maintenance charges (AMC)  Rs. 300 and brokerage charges according to the plan you opt for.

There are two ways in which you can open a demat and trading account with TradeSmart:

1. Online 
   Click on to open an account to start your online account opening process where you can opt for E-KYC in which along with the Aadhar Number, you only need to provide supporting documents for address and identity proof, PAN Card, cancelled cheque and 6-months bank statement. For EKYC, it's very important that your email id and the mobile number are linked with Aadhar. To know full step by step process click here.

2. Offline
   Self-downloaded form: You can download and take a printout of the account opening form from TradeSmart’s website.

   Courier request: If you are unable to access a printout, you can also request for the physical form through courier at some nominal charges

Once the form has been duly filled (only in black ink), you can send the same along with the necessary documents (self-attested copies) to the registered office.

The Account Maintenance Charge (AMC) is the cost to maintain your demat account, which is charged by the broker.

TradeSmart Online charges an AMC of Rs 300 per annum, across both the plans it offers.

To close your TradeSmart Demat account the following details must be furnished with the account closure form:

1. Your ID and your Depository Participant ID.

2. KYC details like name and address that match with details submitted to TradeSmart.

3. The reason for closing the demat account.

4. Ensure that there are no dues on your account as well as no untraded securities.

5. A bank employee must mandatorily submit and verify the self-attested identity proof copy.

Yes, TradeSmart demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). TradeSmart acts as only an intermediary between the customer and the central depository.

Funds can be withdrawn from TradeSmart account through two platforms.

1. NEST Trader:

1. Log in to the NEST Trader desktop app.

2. Click on “Secure URL” and click on the “Payout” option from the dropdown list.

3. Select bank details and enter the withdrawal amount, then click on “Submit”.

2. Sine Mobile App:

1. Click on the three bars on the top left corner of the screen.

2. From the slide in menu click on “Fund Transfer”.

3. Click on the “Payout” tab.

4. Under the “Payout” tab, choose Withdrawal Segment and Bank Details, enter Withdrawal Amount and Payment Remarks.

5. Click on the “Submit” button.

No, TradeSmart is not free. TradeSmart charges account opening fees of ? 400. In the case of opening only a trading account, the opening fee is ? 200. For the MCX account, opening charges are ? 200 with an additional ? 100 in case the customer chooses to have the form couriered to them by TradeSmart.

TradeSmart gives one year without charging AMC. Following the first year, the AMC is ? 300 plus GST.

TradeSmart offers a flat brokerage plan of Rs 15 per executed order, regardless of the trade size or segment.

TradeSmart does not charge any account opening fee. However, it charges AMC of Rs. 300 after the first year.

The Trade Smart Power Plan offers a flat brokerage charge of Rs. 15 per trade across all segments, including equity delivery, intraday, futures, and options.

No, the Trade Smart Power Plan is transparent with no hidden charges. You only pay the flat brokerage fee of Rs. 15 per trade, along with applicable taxes and exchange transaction charges.

There is no minimum balance requirement to open a trading account with Trade Smart. You can start trading with any amount you wish to invest.

While Trade Smart does not offer personalized advisory services, they provide access to various research tools and market analysis reports to help you make informed investment decisions. These tools include charts, technical indicators, and fundamental data.

No, TradeSmart doesn’t have any hidden charges or additional fees. The only charges you’ll incur are the fixed brokerage fee of Rs. 15 per order and other regulatory charges like Securities Transaction Tax (STT), Goods and Services Tax (GST), Stamp Duty, and SEBI charges.