Launched in the year 2005, FairWealth Securities is a full-service stockbroker based out of Mumbai along with its headquarters in New Delhi. This stockbroker has a strong offline presence in around 420 cities and 1800+ remisers across different parts of India. At the same time, the broker has an active monthly client base of 11,293. Compared to other prominent stock brokers in India, this figure is quite low.
Nonetheless, apart from this, we will talk about different features and aspects of a full-service stockbroker that can help you in making a calculative judgment. To start with, while using the services of Fairwealth securities, you can trade and invest in the following segments:
This full-service stockbroker majorly relies on 3rd-party trading softwares for its clients and has minimal focus on in-house technology development. Nonetheless, the broker offers you trading applications across devices including a terminal solution, web-based browser application and a mobile app.
This is a terminal based trading application that requires you to download and install an EXE software onto your computer or desktop. Although it is a little bulky application that requires a reasonable configuration of your machine, it still gives you an exhaustive number of features to access. The application provides you with the following features:
Reasonable speed and performance
Since Fairwealth is a full-service stockbroker, you will be provided with research and recommendations within the trading platform
Around 6 types of charts along with 30 technical indicators are available to go with charting functionality for technical and fundamental analysis
Important studies such as trend lines, cycle lines, Fibonacci arcs, Gann fan lines, inserting text etc. are available through drag and drop.
Allows you to trade and invest in different trading/investment products including IPOs, mutual funds etc.
This is how ODIN Diet looks like:
A couple of concerns with this licensed terminal solution from FairWealth Securities, including:
Relatively bulky in nature and requires high configuration of your machine
If you are a beginner level user, then you may face usability level issues where concerns such as understanding the application, navigation across features can be observed.
This web-based browser application is another outsourced software that is provided by FairWealth to its clients. It does not require any download or installs, and you just need your credentials (username/password) to login into the application through any browser. Furthermore, it is a responsive application and can be used across different devices such as a computer, laptop, desktop, mobile or a tablet.
The application provides you with the following features:
Real-time streaming quotes
Relatively easier to use
Okayish charting functionality for analysis
This is how the application looks like:
At the same time, you will realize that the number of features, in this case, are limited in number. Especially, if you are a medium to a heavy level trader, you’d like to switch to a much more exhaustive application soon.
Secondly, the application needs to improve its technical and fundamental analysis set up through indicators, chart types, heatmaps, strategies etc.
Although Fairwealth is a full-service stockbroker and generally, users expect high standards of customer service from such brokers but it still has a lot to improve in this aspect. The broker provides the following communication channels, as listed:
Although the broker provides multiple communication channels when it comes to usage of user feedback, it seems FairWealth has not realized the value of feedback yet. For instance, this is how the Google Play store page looks like:
As shown above, there are ample number of feedbacks provided by different clients of the broker. However, there has been almost no response whatsoever provided to any of the feedback. Furthermore, the broker needs to work on the technical and professional skill set of the customer support executives.
The support staff is a little jumpy towards account opening, placing trades etc where there is something to gain for the broker monetarily.
The broker can also work on the turnaround time taken to resolve the issues raised by its clients.
When it comes to research, although the broker has limited visibility in the mainstream media, it provides the following research products to its clients:
Daily Derivative market outlook
Commodity Research reports
Currency Research reports
Mutual fund analysis
There seems to be a clear segregation of different report types offered by the broker but when it comes to performance, accuracy and regularity of these reports, the broker stays somewhere around average. You are advised to perform your own analysis at both technical and fundamental levels along with getting a reasonable idea from the reports provided by the broker.
This is how one such report from the broker looks like:
Pricing is one of the most important factors users look out for. Here we have listed out all the primary costs associated with this full-service stockbroker in terms of opening, maintaining and trading on the stock market.
FairWealth Account Opening Charges
Here are the details of the account opening and maintenance charges:
Trading Account Opening Charges
Demat Account Opening Charges
Trading Account Annual Maintenance Charges (AMC)
Demat Account Annual Maintenance Charges (AMC)
₹300 (1st year free), ₹1000 lifetime free
When it comes to their annual maintenance charges, they have got a couple of options. Either you can opt for ₹300 plan where the first year AMC is free and from the second year, you will be required to pay ₹300 every year. Otherwise, you also have the option to pay ₹1000 upfront and your lifetime AMC is taken care of with that amount.
Now unlike the account opening cost, brokerage charges are recurring costs. And that is why it becomes more important to understand and calculate how much you will end up paying the broker.
In case of FairWealth, the executives start with charges somewhere around the range of 0.4% to 0.5% of your trade value in delivery segment, but the numbers can be lowered down a lot. All it requires is reasonable negotiation skills to go ahead with good initial margin deposit.
Here are the details of brokerage charges in this case:
Apart from account related costs and brokerage charges, there are few taxes, stamp duty etc that are added to the overall payment. Here are the details:
Users looking to make some extra profits by employing the concept of exposure or leverage on top of their trades can do it using the services of this full-service stockbroker. At the same time, the exposure values offered are not so high and if exposure is one of the most important factors for you in your stockbroker selection, then you might be a little disappointed.
Here are the leverage details:
8-10 times for Intraday, No exposure for Delivery
3 to 5 times
3 to 5 times
3 to 5 times
At the same time, exposure or leverage is a risky concept and must only be used if you understand the intricacies and risks associated with it.
The broker has a presence in the following locations across different parts of India through their sub-broker and franchise offices:
FairWealth Securities although provides some reasonable values through its low brokerage, free account opening, exposure, trading products range, it still has a lot to work upon when it comes to areas such as customer trust, brand awareness, trading platforms, service, research quality and so on.
Having said that, if you are looking for average performing trading platforms at a reasonable cost, then yes, FairWealth securities can be a suitable stock broker for you.
Disadvantages of FairWealth
Some of the concerns of opening an account with Fairwealth include:
Low focus on technology with average performing trading applications
Low brand visibility
0.14% of its clients have raised the concerns already whereas industry average is 0.06% only. Thus, service issues are reasonably high.
Advantages of FairWealth
Here are some of the positives of using the services of this stockbroker:
Reasonable brokerage charges
Wide offline presence
Free account opening
Wide range of trading and investment products
Looking to Get a callback for Account Opening?
Provide your details in the form below and we will set up a callback for you, right away:
Post this call You need to provide few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
Passport sized photograph
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Membership Information of FairWealth
Here are the membership details of the full-service stockbroker with different indices:
NMCE / TCM / CORP / 0119
MCX / TCM / CORP/0446
NCDEX / TCM / CORP / 0877
A-312 to A-323 Somdatt Chamber-I, Bldg. No.5 Bhikaji Cama Place, New Delhi-110066