FxPro's website
Nuvama in India — review, licence and costs
Score (5 of 6 axes scored)
shown, not ranked: no cost
- Reviews25%60
- Safety20%90
- Payouts15%97.5
- Track record10%no data
- Platforms10%0
Numbered by weight: axis 1 counts for most.
Key facts (4 facts)
- Onboarding entity
- Nuvama Wealth and Investment Ltd. (formerly Edelweiss Broking Ltd.).
- Founded
- 2008
- Currencies
- INR.
- Swap-free account
- no
Licence check
Open an account with NuvamaThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Nuvama Wealth and Investment Ltd. (formerly Edelweiss Broking Ltd.).
- Local standing
- SEBI-regulated domestic full-service broker.
- Licence as the register states it
- SEBI stock broker INZ000005231; member BSE/NSE/MCX/NCDEX; DP with CDSL & NSDL (IN-DP-656-2021).
- Leverage for this entity
- Intraday MIS; MTF offered; SEBI peak-margin rules apply.
- The firm behind it
- Incorporated 2008 as Edelweiss Broking; rebranded Nuvama Oct 2022; Mumbai-based full-service firm.
- What we hold against it
- SEBI Aug-2023 inspection flagged compliance irregularities (proceedings disposed Dec 2025 without penalty); Income Tax search operations 2025 tied to Jane Street market-manipulation probe (Nuvama was Jane Street's on-ground trading partner).
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Intraday MIS; MTF offered; SEBI peak-margin rules apply.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSEBI-regulated domestic full-service broker.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Accounts
Account types the broker names for this country: Demat+Trading, Lite plan (flat), Elite plan (percentage). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Nuvama sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts(1 method)
| Method | Deposit, h | Withdrawal, h | Fee, USD | Min, USD |
|---|---|---|---|---|
| UPI | 24 | — | 0 | 50 |
Deposit and withdrawal methods (1 methods · 1 local)
UPI, net-banking.
- UPIlocal
- Account currency
- INR.
- Fee declared
- 1 of 1 methods
- Withdrawal back to
- the funding method
Where it does not serve(1 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- Nuvama app
- web/desktop trading platforms
| Class | Leverage |
|---|---|
| Nuvama app | —IN |
| web/desktop trading platforms | —IN |
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.2 | — |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(3 for and 4 against, each tied to a figure on this page)
- Locally authorised, licence INZ000005231, read on 09.07.2026
- Withdrawal in 3 h, one of 74 of 90 brokers here that publish a time
- Payouts 98 of 100, its strongest of 5 scored axes
- Round-turn cost not priced: the pair of spread and commission is not published
- A regulator warning is on file against this broker
- Platforms 0 of 100, its weakest of 5 scored axes
- Not scored on round-turn cost: the broker publishes no figure we could read
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 4IN
- Rank in this country
- #4
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
- Round turn, USD
- 2IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 500IN
- Rank in this country
- #23
- Round turn, USD
- 6IN
- Min deposit, USD
- 20IN
- Leverage
- 200IN
- Rank in this country
- #37
- Round turn, USD
- 4IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 5000 group
- Rank in this country
- #52
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 500IN
- Rank in this country
- #15
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | Nuvama |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 60 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | — |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 90 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 98 |
| Track record | 10% | Years since the firm was founded, from its own filings | 90 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 0 |
FAQ
- Does Nuvama accept residents of India?
- Yes. SEBI-regulated domestic full-service broker. Onboarding entity: Nuvama Wealth and Investment Ltd. (formerly Edelweiss Broking Ltd.).
- Is Nuvama licensed to serve clients in India?
- SEBI stock broker INZ000005231; member BSE/NSE/MCX/NCDEX; DP with CDSL & NSDL (IN-DP-656-2021). Checked on 09.07.2026.
- Which trading platforms does Nuvama support?
- Nuvama app, web/desktop trading platforms. Instruments: Equity, F&O, currency, commodity, mutual funds, IPO, bonds, insurance distribution.
- How can I withdraw money from Nuvama in India?
- UPI, net-banking.
- What account types does Nuvama offer?
- Demat+Trading; Lite plan (flat) and Elite plan (percentage).
- Does Nuvama offer a swap-free (Islamic) account?
- No. Nuvama publishes no swap-free (Islamic) account for India.