NJ Wealth Review – Charges, Trading Platforms, Demat Account, Offers & more

Check out NJ Wealth Review here. NJ Wealth is India’s largest mutual distributor and is highly respected in mutual funds.

In this NJ Wealth review, we will also cover their demat account. In addition to that, we would be checking NJ charges to get an idea of what it can cost a new investor.

Most people are unaware of the demat services of NJ Wealth, but they provide trading account and Demat account services to their customers.

Why trade or invest with NJ Wealth?

This section will examine some unique benefits of having an NJ Wealth account.

• You will get a dedicated mutual fund advisor when you open an account.
• You can manage your mutual fund, ETF, and equity investments from a single platform.
• You get access to the client desk, where you can link all your investments and insurance to monitor and manage your finances.
• You can also access NJ Flap, their financial literacy education program.

Brokerage matters a lot to active traders who execute trades very frequently. In this part, we will be discussing the NJ Wealth brokerage charges.

NJ Wealth provides flexible brokerage plans to its clients. These are decided at the time of opening the account.

You can choose the basic option for direct equity, where you are charged 0.5% or Rs. 20, whichever is lower.

Or you can select a brokerage between 0.1% and 2.5%, depending on whether NJ Wealth agrees.

NJ Wealth Calculator

Calculate Brokerage Charges of NJ Wealth.

How do I open an NJ Wealth Demat account?

Opening an NJ Wealth demat account is easy, but first, you should ensure you have all the necessary documents.

STEP 1. You will have to fill up the form we have provided

STEP 2. You will be contacted by an executive of the company and provided with a link to open an account.

STEP 3. Open the link provided to you. Please provide your contact details and verify them by OTP

STEP 4. You have to fill up the entire form and provide the details that are asked for.

STEP 5. You will have to upload the required documents.

STEP 7. Please submit the form after e-signing it.

STEP 8. Within 24 hrs, your details and documents will be verified, and your account will be active.

Open Free Demat Account Now!

Invest with Zero Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

NJ Wealth offers many trading platforms and tools to investors. NJ Wealth’s trading platform is NJ E Wealth CM. You can access this directly from the website with any internet browser.

They also offer Android and iOS apps to access from mobile devices and tablets. In this NJ Wealth review, we will detail all these platforms in the next section.

For traders and investors, there are three main NJ Wealth apps: NJ e-wealth, NJ e-wealth CM, and client desk.

These can be accessed from their website and Android and iOS apps. Let’s take a look at the various features these offer to clients.

 NJ E-Wealth App

This is the mutual fund app for New Jersey. Customers can use this app for their mutual fund transactions.

• Mutual Funds: You can buy, sell, or switch mutual fund units online.
• SIP: Using this app, you can start or stop a systematic investment plan in any mutual fund.
• STP and SWP: You can also start a systematic transfer and withdrawal plans from the app.
• MARS: This is an automated rebalancing system for mutual funds offered by NJ. Your mutual fund portfolio is automatically rebalanced without any intervention from you.
• CM app: You can directly access your CM app for trading in direct equity from this app without repeated logins.

NJ E-Wealth CM

Here are the features of their e-wealth app that are uniform among the website platform and mobile apps: E-Wealth is a transaction app that you can use to buy various products they offer to their clients.

• Real-time market update: The app provides real-time updated market data for various stocks, indices, etc.
• Movers: This feature lists top gainers, losers, and volume gainers from various indices of the NSE and BSE.
• Analyses: Whenever you check any stock, you get basic technical analysis, fundamental analysis, and the latest news about the company to assist you in your analysis.
• Alerts: You can create custom alerts for any stock based on price so you don’t miss any opportunities.
• News: The app lets you get the latest financial and business news, SEBI updates, and companies’ financial results.
• Scanners: You get five different types of scanners in your app; using these, you can easily filter out stocks.

 NJ Client Desk

This app is incredibly useful for customers and functions as a back office for you. We are going to check out its main features.

• Link other investments: You can link assets like PPF, NPS, insurance, etc., to easily have an overall view of your finances.
• Goal-based investment: You can set your future financial goals and link various assets to them.
• Add family members: You can add your family members and their investments, thus allowing you to have a clear picture of your family’s finances.
• Reports: You can generate various types of reports, like a valuation report, which tells you the current valuations of your investments. You can also create capital gains reports for tax purposes.
• Reminders: You can set reminders, for example, for renewing insurance policies.
• Loans against security: You can also apply for a loan against your investments, provided by NJ only if approved.

NJ Wealth offers many attractive services and offers to its customers; here are a few of them.

• They offer flexible brokerage plans to their customers.
• They provide NPS to their customers if they want it.
• Loans against securities like mutual funds and stocks can also be availed of.
• They offer attractive margins and pledge facilities to the customers.

NJ Wealth SWOT Analysis

Here is the list of particular for swot analysis related to NJ Wealth:

Strength

• They are the largest mutual fund distributor in India and have a large customer base of mutual fund clients.
• They have a presence in almost all Indian cities through their advisor network.
• They are in the mutual funds, capital markets, insurance, and PMS sectors.
• They provide a platform for users to have a holistic view of family finance, which is very unique.
• They target both types of customers: those who prefer face-to-face interaction and those who prefer only online methods.

Weakness

• They do not have a unified platform where customers can buy all the services offered.
• They are mostly focused on mutual fund business, and thus insurance, capital market, and PMS businesses are growing slower.
• They do not offer currency segments through their demat.

Opportunity

• All of their mutual fund customers have access to other services and thus can be converted to customers of these services with minimum effort.
• They can introduce currency segments and digital gold, thus increasing their offering even more.
• They can set clear guidelines for the brokerage charges that a customer will have to pay as they already have a flexible brokerage, but there is little clarity.

Threats

• They face huge competition from discount brokers in the direct equity segment.
• Their most profitable segment of the mutual fund industry is also facing stiff competition as they do not offer direct mutual funds, which other companies offer.
• They are lagging behind other companies in adapting to new technologies.

Check out Business Opportunities with Similar Brands

Zerodha

Upstox

Groww

Angel One

ICICI Direct

5Paisa

HDFC SKY

Kotak Securities

IIFL Securities

Motilal Oswal

Multiple tools are available with the NJ Wealth trading account that you can use to research any stock you want.

• The live chart, which you can customize per your needs, also includes multiple technical indicators.
• You get live news and market updates in the app, so you are aware of ongoing developments.
• Basic fundamental and technical data is also available for all stocks.

NJ Wealth Margin and Leverage, which are offered, are as follows:

• Both for equity delivery and F&O carry forward, 1x is provided.
• For equity intraday, a maximum of 5x is there.
• For equity F&O intraday, 1.3x is offered to customers.
• For commodity F&O, 1x is for carry forward, and 1.3x is for intraday.

Check out Business Opportunities with Similar Brands

Alice Blue

Fisdom

Ventura

Anand Rathi

Religare Broking

Reliance Securities

Bajaj Securities

Aditya Birla Capital

Samco

IDBI Direct

Let’s look at various ways a client can contact NJ Wealth customer care:

• You can call customer support at 0261-4025000.
• The customer support email ID is [email protected].
• They have a presence on social media websites and can be contacted there.
• They also have a WhatsApp service.
• They have offices in major cities; you can contact their advisors for face-to-face support.

After-sales services are also essential, so we present the analysis of NJ Wealth’s complaint response.

• Out of 10 complaints that were filed, seven were successfully resolved.
• Three complaints were determined to be non-actionable.
• All ten complaints received a timely response.
• A 100% response rate and a 70% resolution rate are excellent responses compared to similar companies.

NJ Wealth Charges

In this section, we will discuss NJ Wealth account opening charges, other charges, and NJ Wealth hidden charges:

• The account opening charge is free, and the annual maintenance charge is Rs. 300.
• STT and CTT vary from 0.0125% to 0.1%.
• Stamp duty is 0.002% to 0.015%.
• Transaction charges are between 0.002% and 0.053%.
• Pledge creation and invocation charges are Rs. 15.
• Following are the hidden charges: SEBI turnover charges Rs. 10 crores; DP charges Rs. 20 per scrip only on sale; and GST is 18%.
• In addition, Rs. 30 is charged for every trade for the call and trade service.

Open Free Demat Account Now!

Invest with Zero Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

NJ Wealth Review – Conclusion

At the end of the NJ Wealth review, let’s revisit the main features and summarize our review.

NJ Wealth offers a large basket of services, from mutual funds, direct equity, insurance, and PMS to NPS. They also provide flexible brokerage plans to their customers.

It is quite easy to avail of all their services online, and you can also contact their advisors for offline methods if you prefer.

They have a huge network of advisors and offices covering almost all of India. Their after-sales services and complaint resolution are also excellent.

FAQs on the NJ Wealth Review

Here is the list of FAQs related to the NJ Wealth Review:

Is NJ Wealth a safe broker?

It is a safe platform registered with various organizations monitoring safety, like SEBI.

Is NJ Wealth Good for Beginners?

Not only is the platform easy to navigate and secure, making it good for beginners, but they also offer a financial literacy course.

How many active clients does NJ Wealth have?

Their official website shows NJ Wealth has more than 26 thousand clients who have invested through them.

Who is the founder of NJ Wealth?

NJ Wealth was started by Mr. Neeraj Choski and Mr. Jignesh Desai in 1994 as a pure mutual fund distributor.

Does NJ Wealth provide free delivery for trading?

No, there is no free delivery trading option for NJ Wealth customers; you will be charged brokerage as per your rate.

What are the intraday trading charges for NJ Wealth?

In intraday trading, the brokerage can differ depending on the segment in which you are trading, so you should check your agreed-upon brokerage rates.

What are NJ Wealth’s F&O charges?

For F&O of equity and commodities, NJ Wealth charges brokerage as per the agreed rate and other charges.

Does NJ Wealth charge for commodity trading?

For F&O of commodity trading of both types, intraday, and carry-over, brokerages are charged with other charges and hidden charges.

Does NJ Wealth charge for currency trading?

No, there is no charge involved, as NJ Wealth does not offer currency segments to its users.

Does NJ Wealth provide research?

You are offered multiple tools that aid in conducting your research, but as such, research needs to be provided.

How do I contact NJ Wealth Customer Care?

There are multiple ways you can contact customer care that the customer can use, including phone, email, and social media.

How much is AMC in NJ Wealth?

AMC means annual maintenance charges; these are charged per year. Currently, it is Rs. 300.

What are account opening fees in NJ Wealth?

The account opening charges are charged when onboarding a new customer. Currently, the account opening charges are zero.

What are pledge creation charges in NJ Wealth?

Pledge creation charges are levied for every request the customer makes for pledging. The fees are Rs. 15.

How much are pledge invocation fees in NJ Wealth?

In NJ Wealth, the charges for the creation and the invocation of the pledge are the same. They charge Rs. 15 per request for that.

Does NJ Wealth levy any interest on margin trade funding?

No interest is there for the customers who avail themselves of margin trading using the NJ Wealth platform.

What are the DP charges for NJ Wealth?

DP charges are one of the hidden charges, as we have mentioned above in the article. They are only charged for a sell order and are Rs. 20 per trade.

Does NJ Wealth levy any account closure fees?

For closure of the account, you have to make an application to customer care; there are no fees for this.

What are account reactivation fees in NJ Wealth?

If your account becomes deactivated due to non-payment of maintenance charges, you must pay the maintenance charges if you want to reactivate the account. No extra fees are there.

What are call and trade charges in NJ Wealth?

If you avail of call-and-trade services from NJ Wealth, you will be charged a fee of Rs. 30 per trade.