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Marwadi Group Review 2023

Rated 3.5/5 by InvestorGain Team
Last updated on: 28-Aug-2023
Marwadi Group Review
  1. Ranked #1 Broker in India
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

Marwadi Group Review 2023 - Quick Summary

Open a free demat & trading account with Marwadi Financial to trade and invest across multiple asset classes on the user-friendly web, app, and desktop platforms, access free research & advisory, and portfolio management services.

Marwadi Group Top Highlight for 2023

  • 3 decades of trust.
  • Comprehensive suite of products and services to create wealth.
  • Free Trading and Demat account.
  • Powerful technology app, web, and desktop trading platforms.
  • AI-based research recommendations and advisory services.
  • Invest in model portfolios curated by experts.
  • Huge branch network in Gujarat.

About Marwadi Group

Marwadi Shares and Finance Ltd (MSFL) a part of Marwadi Group was ventured in 1992. It is one of the leading financial services providers offering a full spectrum of trading and investing products including equity, derivatives, commodity, currency, IPO, mutual funds, and portfolio management services (PMS).

The broker also provides cutting-edge in-depth research-based solutions and strategic advisory services to customers to help them in their wealth-creating journey. The team of researchers offers comprehensive research including daily, weekly, monthly, and occasional equity, commodity, and currency research reports. So whether you are a beginner or a first-time investor, you can access MSFL research recommendations as per your risk appetite to make rationalized investment decisions.

Trade with advanced technology MSFL Connect mobile app, web, and MSFL Diet desktop trading platforms to trade with ease at your convenience. The Gujarat-based full-service stock broker has a huge market presence with 450+ channel partners and more than 97 branches to provide offline customer assistance.

Do you want to trade with Marwadi Financial? If yes, go through the complete Marwadi Group Review 2023 including its account opening fees, brokerage charges, trading platforms, research offerings, customer care details, and the pros & cons uncovered.

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  • Free Delivery Trading
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Marwadi Group Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 3.5/5

Marwadi Financial has a fixed percentage-based brokerage plan. The particular plan charges a high brokerage fee on high trade value or vice-versa. The full-service stockbroker charges 0.06% intraday brokerage, 0.30% on equity delivery (CNC, Cash and Carry), 0.02% on futures trading, and options trading is charged at Rs 100 per lot basis.

Marwadi Group Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Rs 250 PA

Marwadi Group Brokerage Plan with closest competitors

Here we are comparing Marwadi Group with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Marwadi Group 5paisa Zerodha Upstox Paytm Money
Service Type Full Service Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range 0.06% to 0.30% Rs 20 Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery 0.30% Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday 0.06% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower
Equity Futures 0.02% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Rs 100 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity Rs 100 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures 0.02% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Rs 100 Per Lot Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA

Other Charges

  • Call & Trade Charges: NA
  • RMS Auto Square Off Charges: NA
  • Hidden Charges: NA

For complete brokerage charges and trading plans detail please visit Marwadi Group Brokerage Charges.

Please refer unique and accurate Marwadi Group Brokerage Calculator

Type of Account offered by Marwadi Group

Experience seamless trading and research-backed investing with Marwadi Financial Services.

Marwadi Financial Trading and Demat Account

  • Being a registered DP with NSDL and CDSL, Marwadi Group allows users to open an integrated 2-in-1, Trading + Demat Account together in one go. The trading account with the broker facilitates trading in shares, futures & options, commodity, and currency segments. You can also invest in IPO, mutual funds, and market-linked debentures. Also access free research insights and advisory services or invest in Smartcase model portfolios, a basket of quality stocks curated by experts after in-depth research.
  • Does Marwadi Group offer free account? Yes, Marwadi Group charges NIL account opening fees on its Demat and trading account and charges Demat maintenance fees of Rs 250 per annum.

Marwadi Financial NPS Account

  • National Pension System (NPS) is an investment product for retirement planning. NPS is regulated by Pension Fund Regulatory and Development Authority (PFRDA) and Marwadi Financial being a registered PFRDA member offers NPS to clients. To invest in NPS, you must open an NPS account with Marwadi Group by submitting valid ID proofs. The account allows users to invest a fixed amount regularly during the retirement tenure to avail retirement benefits.

How to open Marwadi Group Account online?

The full-service stockbroking firm has a hassle-free, fast, and easy Demat account opening process that provides the flexibility to open an account instantly in just a few minutes.

Steps to open Marwadi Group Demat and Trading Account Online;

  1. Head to the broker’s official website.
  2. On the top, click on the “Open an Account” option.
  3. Enter your mobile number along with OTP to proceed.
  4. Submit required KYC documents including Aadhaar card, PAN card, etc.
  5. Go through the “in-person verification” (IPV) process.
  6. Once IPV is done, you will get your demat account credentials in your mail.
  1. Free Demat Account
  2. 100% Free Delivery Trade
  3. Online Account Opening

Alternatives to Marwadi Group

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Marwadi Group Mobile App and Trading Platforms

Trading Platforms Rated 3.5/5

Trade and invest across a diversified range of assets on your preferred trading platform whether it is the web, mobile trading app, or desktop terminal. Marwadi Financial has everything for you including MFSL Connect App, Marwadi connect website, and MSFL ODIN Diet trading software for free. Let’s check out the top features of each platform;

MSFL Connect App| Mobile Trading App

  • Trade on a smart, informative, and advanced feature-rich yet easy-to-use share trading app. MSFL Connect 2.0 App provides you the fast and real-time streaming quotes to manage your portfolio, real-time fund transfers with 40+ banks, daily and historical charts, multiple reports (Trade Book, Net positions, Funds view, etc.) alerts & trade notifications, and technical data points. The one-stop app also provides scrip fundamentals, corporate results, corporate actions, IPO news, market updates, experts’ advice, and a dedicated clientele support team.
  • Marwadi Financial Connect app is compatible to use on Android, iOS, iPad, and iPod devices. Download it now and trade in shares listed on BSE and NSE.

Marwadi Web Trading Platform

  • Marwadi Group has an easy-to-use HTML-based browser-enabled web trading platform. A wide range of stock scanner tools, 100+ technical study indicators, and tools, bulk order entry, etc. are the most useful features of the trading website. There is no pre-installation required to use the platform, you simply have to log in on any accessible browser (Chrome, Explorer, and Safari) on any device.

MSFL ODIN Diet Desktop Trading Terminal

  • Active traders who trade on the desktop can download the Marwadi Financial ODIN Diet exe-based desktop trading software on their desktop or laptop. The platform is specifically designed for pro traders or experts to offer a faster trading experience. The terminal-based platform has various built-in features including powerful technical charting, fundamental trades, fast order execution, and many more.

For detail review of mobile app and download please visit Marwadi Group Trading Platform Review.

Marwadi Group Trading Pros

  • Trade on BSE, NSE, and MCX.
  • Zero account opening fees.
  • Invest in IPO, mutual funds, insurance, and smartcase portfolios.
  • User-friendly trading platforms.
  • Get best-in-class in-depth research insights for all segments.
  • Margin trading facility.

Marwadi Group Trading Cons

  • Non-transparent brokerage charges.
  • Minimum brokerage fee of Rs 20 to Rs 25 per trade, when the trade value is low.
  • Major presence in the Gujarat state only.

Marwadi Group Customer Care info

The broker provides online customer support via email and a helpline number. Moreover, it has a huge network of 450+ sub-brokers and 97+ branches all over the country where customer care units are available to assist customers anytime. The customer care representatives are dedicated to resolving customer queries at the earliest.

Final thought about Marwadi Group

Rated 3.5/5 by 20 users

A full suite of trading & investing products, free account opening, research & advisory and a strong regional PAN India network make Marwadi Shares & Finance Ltd one of the leading full-service stock brokers in India. However, lack of transparency in the brokerage structure and poor customer support services by representatives on email and helpline numbers are the major pitfalls. So before opening a trading account, we advise you to go through all pros and cons to select the most appropriate broker for you.

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Last updated on: 2023-08-27

Compare Marwadi Group

Find out how Marwadi Group stacks up against other brokers

Marwadi Group User Reviews

5. Kirik Kapuriya Dec 26 2022 10:40:02 PM Reply
well support team and good replying team


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
4. Prem Nov 04 2021 12:33:50 PM Reply
In equity charge is 0.03% and + holding charge ?18.9...... 15% Gst of gross amount near ?1.1+ ?1.1 on 1000,,, application is not working some time chat is not show, I was completed they says me under update application for 3 year working and more....


Brokerage - Average
Account Maintenance Fees - Above Average
Website Usability - Below Average
Customer Service - Above Average
Overall Experience - Average
3. jatin Jun 23 2018 11:02:19 AM Reply
customer services is average


Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Below Average
Customer Service - Below Average
Overall Experience - Average
2. amit May 31 2017 04:25:51 PM Reply
avg about brokerage


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Below Average
1. Shah May 03 2016 06:56:25 PM Reply


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent