Moneypalm

Moneypalm is an Indian stockbroker operating under the domain moneypalm.in. According to our records, the entity was registered on 10 July 2019, though the broker's own website claims to have been established in 2012. The registered address is located at 401, 402 & 403 4th floor, JMD Regent Square, M.G. Road, Gurgaon, Haryana - 122002, India.

The broker presents itself as a full-service stockbroking firm catering primarily to Indian investors. Its services span equity, derivatives, currency, commodities, and other investment products. It positions itself as a customer-centric firm with a focus on technology-driven trading solutions.

Our records indicate that Moneypalm does not hold any regulatory licences from a financial authority. This is an important consideration for traders, as it means the broker is not subject to direct oversight by a recognised regulator such as SEBI, the Reserve Bank of India, or any other national body. The absence of regulatory information on file raises caution about investor protection mechanisms.

Despite this, the broker's website references a SEBI Scores Portal and an Investor Charter, which suggests some engagement with regulatory frameworks. However, without verified regulatory status, traders should exercise due diligence. FXCanary has assigned a Scam Risk Score of 45 out of 100 (Guarded), reflecting the lack of clear regulatory oversight.

Moneypalm offers trading in a range of instruments commonly available through Indian stockbrokers: equity shares, derivatives (futures and options), currency derivatives, and commodity derivatives. It also provides depository services for holding securities in demat form, and facilitates investments in mutual funds, IPOs, real estate, and NBFC products. The broker does not offer typical retail forex or CFD products as seen in international forex brokers.

The primary trading platform is the NOW Trading Terminal developed by the National Stock Exchange (NSE). This platform is widely used in India for cash and derivatives trading. The broker claims it provides ultrafast execution and is accessible via desktop, web, and mobile applications. The platform supports trading in equity, F&O, and currency segments on a single interface.

The website does not clearly enumerate account tiers or minimum deposit requirements. As a full-service stockbroker, it likely offers standard brokerage accounts that comply with Indian stock exchange norms. The broker provides online fund transfer facilities via RTGS and NEFT for depositing funds into the trading account. Withdrawals are processed within 24-48 hours to the registered bank account.

Moneypalm also publishes its client bank account details on its website, listing specific bank accounts maintained by Moneypalm Brokers Private Limited. This is seen as a transparency measure, allowing clients to verify the designated accounts for fund transfers.

The broker appears to target Indian retail and institutional investors looking for a full-service broking experience. Its broad range of services — from equities and derivatives to real estate and NBFC — suggests it aims to be a one-stop shop for financial investments. The use of the NSE-backed NOW platform is familiar to many Indian traders.

However, the lack of verified regulatory registration and the discrepancy between the claimed founding year (2012 on website) and our records (2019) may be a concern for cautious investors. The broker's risk score of 45/100 indicates a guarded outlook, and we recommend independent verification before committing funds.