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Nuvama Wealth Review 2023

Rated 3.5/5 by InvestorGain Team
Last updated on: 13-Sep-2023
Nuvama Wealth Review
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Nuvama Wealth Review 2023 - Quick Summary

One of the leading full-service brokerage firms with a long-standing track record since 2008 offering Free Nuvama Wealth Demat & Trading account + Trade at Rs. 10 flat brokerage charges + free experts research & advisory + Get access to the industry-leading trading platforms; Nuvama Markets share trading App and Terminal X3 Desktop Trading Software.

Nuvama Wealth Top Highlight for 2023

  • India’s leading wealth management solution provider.
  • Trade at Rs. 10/order with Nuvama Lite - Flat Brokerage Plan.
  • Nuvama Elite percent brokerage plan for frequent traders.
  • Nuvama Markets trading App, the best share market trading platform.
  • An advanced Terminal X3 (TX3) desktop trading software for pro traders.
  • Get free research reports and recommendations.
  • Strong offline presence with 475+ offices at 200 locations in India.

About Nuvama Wealth

Nuvama Wealth and Investment Limited (NWIL) (earlier known as Edelweiss Broking), is a part of India’s leading and most-renowned wealth management service provider, Nuvama Group (Formerly Edelweiss Securities). It is a technology-driven full-service broker that distributes a complete spectrum of financial products including equity, equity derivatives, commodity, currency, IPO, mutual funds, and margin trading.

When anyone looks to open an account with a full-service broker, brokerage charges might be a key concern for many people. However, at Nuvama Wealth, it charges an extremely competitive flat brokerage rate of Rs. 10 per order on all segments which are even lower than the country’s top discount brokers including Zerodha and Upstox Rs. 20/order brokerage.

Nuvama Wealth has two brokerage plans; Lite (Rs. 10/order) and Elite (percentage-based brokerage). Customers are free to choose any of the plans between these two. You can open Nuvama Wealth Demat & Trading Account for free to trade in multiple products. The broker offers a completely digital onboarding process or you can also chose to open an account offline.

It has state-of-the-art platforms including an online trading website, mobile trading app, and installable desktop trading terminal. Nuvama Wealth has the top-rated Nuvama Markets mobile app platform to trade on the go anytime, anywhere.

Nuvama Wealth being a full-service stock broker has a dedicated research team to provide stock market research on 250+ stocks, and advisory services to its clients across asset classes.

Read out an honest and genuine Nuvama Wealth Review 2023 to find details about its account opening charges, brokerage plans, margin, trading platforms, customer care services, and Pros & Cons.

Nuvama Wealth Promotion Offer

Current promotion offer from Nuvama for InvestorGain Visitors:

  • Free Account Opening
  • Free Demat AMC for 1st Year
  • FREE Research and Trading Tips.
  • Pay flat Rs 10 for Equity Delivery, Intra-day and F&O Trades.

Open Instant Nuwama Account Now!

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Nuvama Wealth Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 3/5

Trade at the lowest brokerage fee of Rs. 10 per order on all segments with the Nuvama Wealth Lite Plan. However, if you want access to value-added services such as a dedicated relationship manager, free call & trade, research, etc., subscribe to the Nuvama Wealth Elite Plan, a volume or slab-based pricing model. Check out the Nuvama Wealth Lite brokerage plan charges below;

Nuvama Wealth Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Lite:Rs.300, Elite:Rs.500p.a. [Free 1st Year]

Nuvama Wealth Brokerage Plan with closest competitors

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

Broker Nuvama Wealth 5paisa Zerodha Upstox Paytm Money
Service Type Discount Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 10 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 Flat Rs. 10 per executed order Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday Flat Rs. 10 per executed order 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 Flat Rs. 10 per executed order 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 Flat Rs. 10 per executed order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity 0.01% Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures Flat Rs. 10 per executed order Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Flat Rs. 10 per executed order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA

Other Charges

  • Call & Trade Charges: Rs 20 per call
  • RMS Auto Square Off Charges: Rs 20
  • Hidden Charges: NA

For complete brokerage charges and trading plans detail please visit Nuvama Wealth Brokerage Charges.

Please refer unique and accurate Nuvama Wealth Brokerage Calculator

Type of Account offered by Nuvama Wealth

To start trading in shares, derivatives, commodities, and currency segments, and apply for IPOs and mutual funds, you just need to open the below type of accounts;

Nuvama Wealth Demat & Trading Account| Equity + Commodity Trading

  • Nuvama is a CDSL depository participant to offer a 2-in-1 account, Demat + Trading Account opening facility to customers. An integrated Trading and Demat account facilitate seamless and hassle-free buying and selling and transfer of securities into the Demat account.
  • Nuvama Wealth being a registered trading member of BSE, NSE, MCX, and NCDEX, offers a single Equity Trading + Commodity Trading Account to clients. The equity trading account enables you to buy and sell shares listed on the stock exchange and the commodity trading account facilitates you to trade in different types of commodities.
  • Does Nuvama Wealth offer a free account? Yes, open a free trading-cum-demat account at nil account opening fee and start trading across segments.

Nuvama Wealth Mutual Fund Account

  • Nuvama Wealth is a mutual fund distributor that facilitates online investment in mutual funds. The full-service broker allows customers to invest in direct and regular mutual fund schemes of 40+ AMCs including Axis, ICICI, Mirae, HDFC, Tata, Nippon, and more.
  • Open a Free Mutual fund account with Nuvama and invest smartly in your choice of a preferred mutual fund at NIL brokerage or commission fee.

How to open Nuvama Wealth Account online?

Complete the online account opening journey with Nuvama in a fast, secure, and hassle-free manner. If you have all the documents in hand then the account opening process will take less than 15 minutes.

Steps to open Nuvama Wealth Demat & Trading Account Online:

  1. Head to the Nuvama official website or mobile trader app.
  2. On the top menu, click on the “Open Account” option.
  3. Enter your name, city, email ID, and mobile number.
  4. Verify the details by entering the OTP.
  5. Enter PAN number and Date of Birth for KYC verification.
  6. Enter personal details like name, address, occupation, etc.
  7. Provide your bank account details including bank account number, and IFSC code.
  8. Select between the Lite and Elite Brokerage plans.
  9. Complete the Video IPV (in-person verification) process.
  10. Upload required KYC documents; PAN Card, Address proof, Bank proof, and specimen signature.
  11. Proceed to the Esign option to digitally sign the account opening using Aadhaar.

Once done, the internal team at Nuvama Wealth will verify all the details and documents submitted, and your account gets activated within 12 to 24 hours.

Open Instant and Online account with Edelweiss in 15 mins.

Alternatives to Nuvama Wealth

 Demat Account
 Demat Account
 Demat Account
 Demat Account

Nuvama Wealth Mobile App and Trading Platforms

Trading Platforms Rated 3.5/5

The full-service stockbroker has the best platforms for you to trade online across web, mobile app, and desktop trading terminals. Nuvama Wealth offers free trading platforms to its customers at zero charges.

Nuvama Markets Mobile Trading App

  • Nuvama Markets Mobile app is one of the best mobile trading apps in India to trade at your fingertips. The share trading app has many advanced features including customized watchlists upto 100 stocks in each watchlist, advanced charts (Heiken Ashi, Points & Figure, Renko, Candle Stick, and more), 80+ technical indicators, a view upto 10 years of historical data points, support & resistance lines, free research recommendations, and access to 23+ reports including P&L statement, holdings report, DP bills, ledger, delayed payment interest, etc.
  • Nuvama trading app is a user-friendly and easy-to-use share market trading app downloadable on Android and iOS devices from the Play store and the App Store.

Nuvama Terminal X3| Desktop Trading Software

  • Nuvama TX3 is a desktop trading terminal with advanced analytics and exceptional speed. The free share market trading software comes with excellent speed, and provides advanced data analytics to traders. Nuvama Wealth X3 Trading Terminal has a powerful charting package with live streaming charts, 60+ technical indicators, and drawing tools, and views 15 years of historical EOD and 1 year of intraday trading data.

Nuvama Web Trading Platform

  • Trade and/or invest in stocks, derivatives, currency derivatives, bonds, mutual funds, and IPO with the Nuvama Wealth trading website. The web trading platform is free for all customers to place buy and sell orders across segments. Customers can log in to the Nuvama website over any compatible browser.

For detail review of mobile app and download please visit Nuvama Wealth Trading Platform Review.

Nuvama Wealth Trading Pros

  • Trade and invest on BSE, NSE, and MCX.
  • 10 per order flat brokerage trading.
  • Trade at either a flat brokerage fee (Lite) or %-based brokerage plan (Elite).
  • Add-on services with Elite plan; free call & trade, free RM, etc.
  • Free mobile app, web, and desktop trading terminal.
  • Get Nuvama API connect for free. (Limited time offer)
  • Get free expert research, advisory, and trading tips.
  • Investology, is a stock market learning platform for beginners to experts.
  • Margin trading facility.
  • Offline branch-based customer support is available.

Nuvama Wealth Trading Cons

  • It does not provide a 3-in-1 account opening facility.
  • NRIs cannot open Nuvama Demat and Trading Account.
  • Call & trade, and research services are not free for the Lite brokerage plan subscribers.

Nuvama Wealth Customer Care info

The best thing about the full-service broking house is that the customer service is offered across both the online and offline channels. Nuvama Wealth Broking firm resolves customer queries over multiple communication channels including Toll-Free numbers, Email, telephonic assistance, branches, Web self-help & FAQs.

Final thought about Nuvama Wealth

Rated 3.5/5 by 20 users

Trading and investment across diversified financial product offerings at an extremely low brokerage of just Rs. 10/order makes Nuvama Wealth one of the best brokerage houses in India. Once the trading account is opened, customers will get free access to the best online trading platforms (mobile app, desktop trading software, and website).

Research & advisory facility, brokerage-free direct mutual fund investment, free API connect, etc. are the other value-added services available at Nuvama Wealth.

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Last updated on: 2023-09-13


Yes, Beginners usually avoid opening an account with full-service broker due to high brokerage but Nuvama Wealth despite being a full-service broker charges just Rs 10 per trade brokerage. First-time traders and investors can open a free account and start trading at highly competitive charges.

Moreover, its top-class research including market & economy research, sector specific research, stock research reports & recommendation are useful for beginners to take rationalized decisions.

In addition, user-friendly mobile app and web platform makes it extremely convenient for beginners to trade online with Nuvama Wealth.



Customers can resolve their issues or concerns by writing a grievance mail at [email protected] or calling the helpline desk at 1800-102-3335 from 8:30 AM to 5:30 PM from Monday to Friday and 10 AM – 2 PM on Saturday.

If any of your queries is not timely resolved then you can further writer your query at [email protected].



Yes, Nuvama Wealth, a part of India’s leading wealth management solution provider Nuvama Wealth Management is a safe, trustworthy, and reliable broker. It is an active trading member of BSE, NSE, MCX, and NCDEX, and is also registered with SEBI and IRDAI.

The full-service broking company is a one-stop platform for diversified trading and investment needs including equity, F&O, commodity, currency, IPO, mutual funds, bonds, NCDs, PMS, and more.



Account opening with Nuvama Wealth is free at zero fees.  Further, it charges no AMC for the first year, and thereafter, the demat AMC charges in the Lite Plan is Rs 300 per annum and in the Elite Plan, it is 500 per annum.

Trade and invest in equity and derivative segments at flat Rs 10 per order fee irrespective of the segment and volume of trade.



E-SIP stands for equity SIP, a special feature that allows customers to invest a fixed sum of money in a stock during a fixed interval of time. Nuvama Wealth facilitates customers to start SIP in stocks.

Steps to do e-SIP in Nuvama app:

  1. Log in to the Nuvama trading account.
  2. In the bottom-right side, tap on the “More” option and hit “E-SIP” order.
  3. To start fresh SIP, tap on the place an e-SIP order.
  4. Select the stock, you want to start e-SIP in.
  5. Add order details amount, e-SIP date, etc, and hit “Submit” option.
  6. Check the e-SIP order in the order status tab.



Intraday trading (MIS), means both the buying and selling transactions are taken on the same day, if a trader does not close MIS positions by the end of the trading session, the broker himself square-off at applicable auto square-off charges.

Day traders can choose Nuvama Wealth as a preferred broker not just due to the cheapest flat charges at Rs 10 per trade but also due to the high-speed platforms (TX3 terminal and Nuvama Markets mobile app), and intraday trading tips and recommendations from experts.



Adding money in your Nuvama through UPI is completely safe, secure, and instant. You can add funds using any UPI app like PhonePe, Google Pay, Paytm, or any other BHIM UPI app for free.

Steps to add funds in Nuvama using UPI;

  1. Log in to Nuvama trading account on Markets App or web.
  2. Go to the “Fund Transfer” page, and click on the “Add Funds” option.
  3. Select UPI as a mode of fund transfer.
  4. Enter the amount you wish to add to your trading account and provide your UPI virtual payment address.
  5. Submit the fund transfer request, open the UPI app and authorize the payment request.
  6. Once done, funds will be instantly transferred in real-time to the Nuvama trading account.



You can withdraw funds from the Nuvama account anytime using the Nuvama Markets app or trading website.

Steps to withdraw funds from Nuvama account

  1. Log in to the Nuvama trading account on the app or web.
  2. Go to the “Fund Transfer” option and click on the “payout request” option.
  3. The screen displays the amount available to withdraw.
  4. Enter the withdrawal amount and submit the payout request.
  5. The amount will be transferred to the registered bank account.



Yes, Nuvama Wealth experts team delves deep into providing research reports and investment recommendations on over 250+ stocks. The full-service stockbroking house provides comprehensive research reports on markets, sector, economies, and stock-specific reports as well. It further provides short-term, medium-term, and long-term stock tips and recommendations for active traders and investors.



There are no charges on funds transferred to your trading account via UPI. However, if you chose to add money using net banking mode, Nuvama wealth charges Rs 10 payment gateway charges for the Lite plan users while Elite plan subscribers can transfer funds for free. Customers can place payout or withdrawal requests for free at nil charges.



Nuvama Wealth, a part of Nuvama Group is a leading wealth management solution provider that provides online trading in equity, derivatives, commodity, and currency segments. Check out the key advantages on why choose Nuvama Wealth as the preferred broker;

  • Multiple trading and investing products.
  • Choose flexible pricing plan that suits your needs.
  • Get access to extensive research coverage and insights.
  • Best class trading platforms; Nuvama Markets App and powerful TX3 desktop terminal.
  • Widespread branch network.



No, Nuvama Wealth and Investment Ltd (NWIL) is a full-service brokerage house in India. The broker offers online trading in equity and derivatives and also provides research reports and advisory services to customers. Despite being a full-service broker, the brokerage house offers a flat discount brokerage plan to trade at just Rs 10 per order in intraday, delivery, futures & options, currencies, and commodities futures segments.



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Nuvama Wealth User Reviews

20. Saji George Sep 22 2023 05:04:35 PM Reply
I am having very bad experience with Nuvama and I should say that investors should be careful and the will never get a positive feedback and problem resolution from them.....I am now finding difficult to close my account with them now
19. Kailas Arjun muthal Jun 01 2022 02:03:58 PM Reply
Very poor service my account block for two weeks altho I complete their query but still not process
18. dharmesh moradiya May 31 2022 12:45:50 PM Reply


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
17. shiva Apr 03 2022 09:30:04 PM Reply
I want to close demat account.
16. Suhas Kanade Feb 06 2022 10:20:32 AM Reply
Edelweiss broking is a cheater. Initially I was operating this account on my own. Later one of their advisors from Pune branch contacted me claiming that he will make money for me. He used to provide me useless tips in order to increase trade volume and mint brokerage. I lost more than 1 Lac with their useless tips. When I realized this and wanted to close my account, they used some or the other ways to delay my account closure and used to charge me monthly DMAT charges. When I stopped paying their DMAT charges, they liquidated one of my bonds to recover the money. Very frustrating experience with Edelweiss Broking. Please do not get into their trap.
15. A Bhattacharjee Mar 11 2021 10:55:22 AM Reply
Charges are too excessive, also Customer service is so poor . I lost around 50000 rs in the name of Margin Trading in three months.


Brokerage - Below Average
Account Maintenance Fees - Very Poor
Website Usability - Above Average
Customer Service - Very Poor
Overall Experience - Very Poor
14. Suresh Jul 15 2020 11:55:04 AM Reply
Their back end service is pathetic, I have an account with them and had linked my yes bank account with it. I closed my yes bank account and have been running after them for the last one year to update my linked saving account but they have been unable to do it till now. With the result my funds are held up with them
13. Poonam Jan 06 2020 07:03:16 AM Reply
Overall Experience is Good, They are providing wealth service at a Discounted rate.


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Above Average
Customer Service - Above Average
Overall Experience - Excellent
12. Monika Shah Apr 16 2019 11:53:35 AM Reply
Best Service Broker in the industry. Smooth account opening process.