Fisdom, with an active client base of more than 91999, has become a renowned discount stockbroker in India that provides various services like demat account opening and maintenance, trading facilities in Equity and Derivative markets. However, because of being a relatively newer brand, people often seem to ask is Fisdom safe or not.
Since it is a matter of investing your hard-earned money, it is always good to ask a few questions and look for their answers.
In this article, we provide you with the answers as we measure Fisdom on several parameters to decide if it is safe or not.
Is Fisdom Demat Account Good?
Are you looking to open a Fisdom demat account but having some doubts regarding its credibility? There are certain benchmarks on which you should always evaluate a stockbroker before opening an account.
So let’s dive in and assess Fisdom on the above parameters.
Is Fisdom Registered with SEBI?
To become a registered stockbroker in the share market, the broker firm has to register with the SEBI. So here, the Fisdom has been registered with SEBI under the registration number INZ000209036.
Also, the broker has also been registered on National Stock Exchange (NSE) (Member Code: 90228) and BSE (Member Code: 6696).
As a depository, it has been registered on CDSL with the registration number IN-DP-572-2021.
Thus, when it comes to reliability one can rely on the broker’s presence and can invest in the stock market using their trading platform without any doubt.
Fisdom Client Base
After checking the registration number, the next important parameter that tells you about the reliability of the stockbroker is the number of active clients associated with it.
On the basis of NSE’s current data, the active client base of the broker is 91,999.
This is the parameter that can make you think twice as even after almost 7 years of establishment, the broker is not able to record a decent number in the client base.
Fisdom Active Complaint Percentage
This is a really crucial factor when judging the credibility of a stockbroker. Active complaint percentage represents how the customers think about a stockbroker and how active the broker is to resolve the customers’ queries.
Seeing the latest data, the complaint percentage of Fisdom is 0% that makes it quite reliable when it comes to having customers’ faith.
Fisdom Customer Support
The next major factor that decides the reliability of a broker is how the broker treats its customers and responds to their problems.
To resolve the queries of its customers, Fisdom has
Calling service: You can call its customer support number +91 96425 96425 between Monday to Friday anytime from 9 AM to 5:30 PM from your registered mobile number to get call support.
Email service: You can write your issue to Fisdom through the mail too. The support team will respond to you as soon as possible.
Fisdom Customer Support
Customer Support Number
Customer Support Email
Fisdom Trading Platform
Now when considering the reliability of the broker, it becomes important to check the products and services provided by the broker. Here to trade in different equity products, Fisdom offers you different platforms namely:
Fisdom provides its users with multiple trading platforms to make trading convenient for them. It has an app for smartphone users and a web platform for Desktop users.
Fisdom Mobile App
Fisdom has its own trading app that allows investments in Stocks, IPOs & Mutual Funds from one platform. It is available for both Android and iOS users.
Gives access to powerful tools like Instant order margin calculator, Market screeners, Stock tracker, charting tools and various indicators.
Now let’s see what the users have to say about the Fisdom smartphone app.
Fisdom App Review
Google Play Store
Google App Store
If we go by the number of downloads and ratings of the app, the Fisdom trading app seems quite popular and reliable with 4+ ratings on both Android and iOS. Fisdom also keeps updating its app from time to time for the convenience of its users.
Fisdom Super Trade
Along with a smartphone trading app, Fisdom also has a trading platform for Desktop users. It’s called Fisdom Super Trade Desktop Terminal and it acts as a bridge between traders and the market on the Desktop.
Super Trade has features like Market Watch, which tells you the pulse of the market by live indices. Users can place multiple orders using this which makes the whole trading process a lot more convenient on a bigger screen.
In all with all the major features of the mobile app, the trading terminal provides you a better view of charts and other data thus making it easier for traders and investors to do analysis for a trade decision.
Awards and Recognitions
Along with the above parameters, there are some additional factors that help the investors decide whether to consider a stockbroker, Fidom in this case, safe or not.
Fisdom was founded in 2015 and even though it is a relatively newer broker that provides trading in stocks, it has accomplished several landmarks in its short journey of 6 years already.
Awards and recognitions are only given when someone performs well and in this case, Fisdom has won several awards and earned a few recognitions for its services over the years.
Best Performing National Financial Advisor (Online)
CNBC-TV18 awarded Fisdom this award in 2019 for being the best performing National Financial Advisor.
Top SIP Performer
Fisdom won this award in 2020 for being the top SIP performer. It was awarded by BSE Star MF.
Popular Personal Finance Application
ET Business Icons felicitated Fisdom with this award.
Best Wealth management App
India Wealth Awards awarded Fisdom with the Best Wealth management app back in 2018 itself.
Therefore, Fisdom has won several awards in its journey of seven years and these awards surely help in building up its brand.
Yes, Fisdom has offered stock investment options on its platform only last year but it has been an established and trusted mutual funds investment platform in the past. The awards & recognitions only prove the point.
Opening a demat account also provides the users with a trading app and desktop platform and with positive customer reviews, it can boast about their efficiencies.
So if you are someone having doubts about whether to trust Fisdom or not, we hope this article helped you make up your mind about how safe or how unsafe investing your funds through Fisdom is. Further, if you like the services, you can use the Fisdom refer and earn progarm and recommend it to your friends as well.
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