Investing in the stock market and trading binary options is notoriously risky. However, these risks are not enough to discourage novice and professional traders from profiting from stocks, IPOs, derivatives and other investment instruments. If you are looking to invest and trade on the stock market but do not know which platform to use, Edelweiss would be a great choice. This article provides brief information about Edelweiss, their various products and services, and how to open an online trading account.
About Edelweiss
The company was founded in November of 1995. A part of Edelweiss Wealth Management (EWM), it started its stock brokerage business for private and institutional clients in March 2002. In April 2006, the company started its asset and management business. In the last quarter of 2007, Edelweiss achieved another milestone as it successfully got listed on the stock exchange of India. In 2008, it started its commodities business.
Year after year, Edelweiss keeps growing, acquiring more businesses, and offering more products and financial services to its clientele. The company’s official website is located at www.edelweiss.in.
Customer care number
Edelweiss has its main Corporate Office in Mumbai, India. However, anyone with questions regarding account opening or concerns about their existing accounts may call the customer care hotline instead of physically going into the office. Customer service can be contacted toll-free at 1800-102-3335 or their Сall & Trade number 040-4905-9999.
Concerns and queries may also be coursed through the following email address helpdesk@edelweiss.in.
Note! Before calling customer service or sending an email to raise concerns or questions, it may help to first visit the FAQs section on the website.
Products & Services
Edelweiss offers its clients various products and services as a full-service stock brokerage company. Their products and services offerings are spread among asset classes, including mutual funds, commodities, derivatives, equities, IPOs and more. Edelweiss offers the following products and financial services: Equity and Commodity trading, Exchange Traded Funds (ETF) investment, Life insurance, Wealth management, Loans against property and more.
How to open an account and log in?
Opening a trading account with Edelweiss is easy. Just visit their official website and find the “Open Account” button, which is situated on the top menu. Account opening may also be done using the Edelweiss Mobile Trader app.
Required documents include:
- KYC documents (PAN card and any of the following: driving license, voter’s ID, Aadhar card, Nrega job card. The PAN card is mandatory, so it is essential to keep it on hand).
- Proof of income includes bank statements, latest salary slips of at least six months, bank passbook with at least three months’ deposits, IT returns for the last six months, and form 16 of the latest year.
- Proof of bank account, including bank statement or a personalised, signed cancel cheque leaf and a copy of the bank passbook’s front page. The bank statement should show at least three months’ transactions. The bank passbook should have a bank stamp and sign.
- Also, you must be ready that a live photo will be captured during the online account opening process.
Opening an account can take more or less than 15 minutes if all required documents are on hand.
Demat account
An Edelweiss dematerialised (Demat) account is akin to that of a digital storage system. In this account, traders can hold their shares electronically. A Demat account is important for users; it allows them to invest their capital and trade on the share market online. With a Demat account, investors can hold certificates of all the financial instruments they invest in, including Edelweiss mutual funds, shares and bonds, and ETFs.
Demo trading account
The platform does not have a demo account. Beginners with zero knowledge of online trading or those still learning the various features of the Edelweiss trading terminal can watch YouTube videos from experienced traders before moving on to real trading.
How to trade on Edelweiss?
There are four ways to start trading on Edelweiss. You can:
- use the Edelweiss Mobile Trader app;
- trade via the company’s online trading platform found in www.edelweiss.in;
- trade using TX3, a trading terminal that can be downloaded, installed, and used on desktops;
- use Edelweiss Express, a web browser-based trading app that allows investors to trade without installing software on their computers.
Then, you need to create a trading account on Edelweiss. It can be created through the website or the Edelweiss trading app.
Below are the steps to follow when trading online on Edelweiss:
- Log in to your account on the Edelweiss website / Launch the mobile app and input your login details.
- Click on the “Buy/Sell” button.
- Search for the instrument or scheme you wish to order.
- Input the details of your order and the order type.
- Click “Confirm” to place your trading order.
Note! Edelweiss provides investors with trading terminals with advanced charting and analysis tools that are essential for making sound trading decisions.
Where to download the Edelweiss app?
This trading software can be downloaded through Android and Apple mobile devices app stores. First, you need to search for the app in your phone’s browser, or you may search directly on the app store. Type “m.edelweiss.in” to find the app easily.
How to use the trading app?
Log in to the Edelweiss mobile app and see if you have enough funds to complete a “Buy” transaction. If your account is short of funds, make a funds transfer from your linked bank account to your trading account. When this is done, you can search for assets you want to buy. Click the asset of your choice and the “Buy” button.
Click the “Sell” button if you are selling a stock in your portfolio. Once done, enter the details of your order and then click “Confirm order”. You may want to review the details of your order on the app first before confirming.
Is Edelweiss safe for trading?
Based on reviews by users, Edelweiss is safe for trading. Its financial services are registered in the Securities and Exchange Board of India (SEBI). Edelweiss is listed as a reputable stockbroker in leading stock exchange companies. It is also a Depository Participant (DP) in CDSL and NSDL.
The awards it has gathered, including Best Stockbroker, Best Equity Broking House, Most Promising Brand, and many more, also speak volumes of its trustworthy reputation. Moreover, being a part of the largest financial services company in India, Edelweiss Group, means that it is a trusted company that offers a safe online trading avenue.
Verdict
No trading platform is perfect; еven Edelweiss has its pros and cons, which every trader should know before using its platform for trading purposes. While Edwells may offer a comprehensive range of products and services and allows safe trading on its powerful trading platforms, it also has drawbacks which may discourage investors from using it. One of its known drawbacks is that it often has higher brokerage charges than other brokers. It also does not offer a 3-in-1 account that includes a Demat, Trading, and Bank accounts. These drawbacks, though, are very minimal compared to their positive features.
Remember that no matter the features of trading software, you will only succeed in your trading venture if you take the time to study every trading technique. The secret to trading success is in the platform used and your knowledge and trading skills.
