Full Service Brokers (Traditional Brokers)

Let’s dive into the world of Full Service Stock Brokers and explore their multifaceted functions, roles and responsibilities. We’ll also examine the nitty-gritty of brokerage charges, the potential benefits of working with them, as well as the Pros and Cons of associating with these financial experts in great detail.

List of top full service brokers in India

1. Angel Broking
2. Sharekhan
3. ICICI Direct
4. Motilal Oswal
5. Axis Direct
6. HDFC Securities
7. India Infoline
8. Kotak Securities
9. Edelweiss
10. Karvy
11. JM Financials
12. Shriram Insight
13. Aditya Birla Money
14. Asit C Mehta
15. KIFS Trade Capital
16. SMC Global
17. Anand Rathi
18. Astha Trade
19. Mastertrust Capital
20. Sushil Finance
21. Yes Securities
22. BMA Wealth Creators
23. Monarch Networth Capital
24. Swastika Investmart
25. Jainam Share Consultants
26. Choice Broking
27. Nirmal Bang
28. Tradebulls
29. K R Choksey
30. Geojit Finance Canmoney
31. Ventura Securities
32. Shri Parasram Holdings
33. IDBI Direct
34. Prabhudas Lilladher
35. Way2Wealth
36. SBICap Securities
37. Jhaveri Securities
38. Reliance Securities
39. Religare Securities
40. Kunvarji Finstock
41. Narnolia Securities
42. Shah Investor
43. Zuari Finserv

Full Service Brokers: Overview

Full-service brokers, also known as traditional brokers, are financial professionals who offer a comprehensive suite of investment services to their clients. These brokers are the complete package, providing personalized investment advice, managing portfolios, executing trades, and offering a range of other financial services to their clients.

Let’s dive into the world of Full Service Stock Brokers and explore their multifaceted functions, roles and responsibilities. We’ll also examine the nitty-gritty of brokerage charges, the potential benefits of working with them, as well as the Pros and Cons of associating with these financial experts in great detail.

What is a Full Service Broker or Who is a Full Service Broker?

When it comes to investing in the stock market, there are many different types of brokers to choose from. One of the most popular types of brokers is the full-service broker. But what exactly is a full-service broker, and how do they differ from other types of brokers?

A full-service broker is a financial professional who offers a comprehensive suite of investment services to their clients. These brokers are often referred to as “traditional brokers” because they provide a range of services beyond just executing trades. In addition to buying and selling stocks, full-service brokers provide personalized investment advice, manage portfolios, and offer a range of other financial services to their clients.

So who is a full-service broker? Full-service brokers are typically licensed financial advisors who work for large brokerage firms. They have extensive knowledge of the financial markets and are trained to provide a range of investment services to their clients. Many full-service brokers work with high net worth individuals and institutional investors, but they also work with retail investors who are looking for personalized investment advice and management services.

The role of a full-service broker is to provide their clients with a high level of service and expertise. They take the time to get to know their clients on a personal level, developing a deep understanding of their financial goals, risk tolerance, and investment preferences. Based on this information, full-service brokers will develop customized investment plans that align with their clients’ goals and risk tolerance.

One of the key benefits of working with a full-service broker is the personalized investment advice and management services they provide. Unlike discount brokers, who typically offer limited investment services at lower costs, full-service brokers provide a range of value-added services to their clients. These services can include investment planning and advice, portfolio management, research and analysis, access to initial public offerings (IPOs), and retirement planning.

However, it’s important to note that working with a full-service broker can come at a higher cost. Full-service brokers typically charge higher commissions and fees than discount brokers. This is because they provide a higher level of service and expertise. It’s important to weigh the costs and benefits of working with a full-service broker before making a decision.

In conclusion, a full-service broker is a financial professional who offers a comprehensive suite of investment services to their clients. They provide personalized investment advice and management services, and they work with clients to develop customized investment plans that align with their goals and risk tolerance. While working with a full-service broker can come at a higher cost, the personalized service and expertise they provide can be well worth it for many investors.

Services Provided by Full Service Brokers

At their core, full-service brokers are relationship-based. They build long-term partnerships with their clients, often spanning decades or even generations. These brokers take the time to get to know their clients on a personal level, developing a deep understanding of their financial goals, risk tolerance, and investment preferences. Unlike discount brokers, who typically offer limited investment services at lower costs, full-service brokers provide a range of value-added services to their clients. These services can include:

• Investment Planning and Advice – Full-service brokers will work with clients to develop customized investment plans that align with their financial goals and risk tolerance. These plans can include asset allocation, diversification strategies, and risk management techniques.
• Portfolio Management – Full-service brokers will manage their clients’ portfolios on an ongoing basis, making investment decisions on their behalf and monitoring performance. This can include rebalancing portfolios, selecting investments, and executing trades.
• Research and Analysis – Full-service brokers have access to in-depth market research and analysis tools, enabling them to make informed investment decisions on behalf of their clients. This can include economic analysis, sector research, and stock analysis.
• Access to Initial Public Offerings (IPOs) – Full-service brokers often have access to IPOs, providing their clients with an opportunity to invest in new and exciting companies before they go public.
• Retirement Planning – Full-service brokers will work with clients to develop comprehensive retirement plans, including strategies for maximizing retirement savings and managing distributions during retirement.

Overall, full-service brokers are an excellent choice for investors who value personalized service, in-depth investment advice, and a comprehensive suite of financial services. While their fees may be higher than discount brokers, the value they provide can more than justify the costs, particularly for those with significant assets or complex financial needs.

Products Provided by Full Service Brokers

Full-service brokers are a type of broker that offer a comprehensive range of investment services to their clients. One of the key advantages of working with a full-service broker is the variety of products they offer. In here, we’ll take a closer look at the different products that full-service brokers typically offer to their clients.

• Equity: Equity refers to ownership in a company. Full-service brokers provide their clients with access to a range of equities, including stocks and shares. They can also provide advice on which equities to buy and when to sell.
• Derivatives: Derivatives are financial contracts that are based on the value of an underlying asset, such as a stock or a commodity. Full-service brokers can provide their clients with access to a range of derivative products, including futures and options.
• Commodity: Full-service brokers can provide their clients with access to a range of commodity products, including precious metals, agricultural commodities, and energy commodities. They can also provide advice on when to buy and sell these products.
• Currency: Full-service brokers can provide their clients with access to a range of currency products, including foreign exchange (Forex) products. They can also provide advice on which currencies to buy and sell.
• Future: Futures are contracts that require the buyer to purchase an asset at a specific price at a specific time in the future. Full-service brokers can provide their clients with access to a range of future products, including index futures and stock futures.
• IPOs: An IPO, or initial public offering, is when a company goes public and starts selling shares on the stock market. Full-service brokers can provide their clients with access to IPOs, enabling them to invest in new and exciting companies before they go public.
• Repository Services: Full-service brokers can provide their clients with access to repository services, which are designed to help clients manage their investments more efficiently. These services can include account consolidation, asset allocation, and portfolio rebalancing.
• Mutual funds: Mutual funds are investment vehicles that pool money from multiple investors to invest in a portfolio of stocks, bonds, and other securities. Full-service brokers can provide their clients with access to a range of mutual funds, and they can also provide advice on which funds to invest in.
• Insurance Products: Full-service brokers can provide their clients with access to a range of insurance products, including life insurance, health insurance, and long-term care insurance.
• Retirement Plans: Full-service brokers can provide their clients with access to a range of retirement plans, including individual retirement accounts (IRAs) and 401(k) plans. They can also provide advice on how to maximize retirement savings and manage distributions during retirement.
• Bonds and Debentures: Bonds and debentures are fixed-income securities that pay a fixed rate of interest. Full-service brokers can provide their clients with access to a range of bond and debenture products, and they can also provide advice on which bonds to invest in.
• Capital Gain Bonds: Capital gain bonds are bonds issued by the government that provide tax benefits to investors. Full-service brokers can provide their clients with access to capital gain bonds, and they can also provide advice on how to maximize the tax benefits of these bonds.
• NCDs: Non-convertible debentures (NCDs) are fixed-income securities that cannot be converted into equity. Full-service brokers can provide their clients with access to a range of NCD products.
• Corporate FDs: Corporate fixed deposits (FDs) are fixed-income securities that are issued by corporations. Full-service brokers can provide their clients with access to a range of corporate FD products.

In conclusion, full-service brokers offer their clients a wide range of investment products and services. Whether you’re interested in equities, derivatives, commodities, currencies, futures, IPOs, repository services, mutual funds, insurance

Why open Demat & Trading account with Full Service broker?

Investing in the stock market can be a great way to grow your wealth over time, but it can also be daunting, especially for those who are new to investing. That’s where full-service brokers come in – they offer a range of services that can make investing in the stock market easier and more accessible.

One of the key services offered by full-service brokers is the ability to open a demat and trading account. Here are some of the reasons why you might want to consider opening a demat and trading account with a full-service broker:

Expert Advice: Full-service brokers typically have a team of experienced advisors who can offer expert advice on investing in the stock market. They can help you make informed decisions about which stocks to buy and sell, and when to do so.

• Wide Range of Investment Products: Full-service brokers offer a wide range of investment products, including equities, derivatives, commodities, currencies, futures, IPOs, mutual funds, insurance products, retirement plans, bonds, and debentures. This means that you can invest in a diverse range of products that suit your investment goals and risk tolerance.
• Research and Analysis: Full-service brokers typically provide research and analysis on various investment products, which can help you make informed decisions about which products to invest in. They also provide regular updates on market trends and news that may affect your investments.
• Portfolio Management: Full-service brokers can help you manage your investment portfolio by providing asset allocation advice, portfolio rebalancing, and other services. This can help you optimize your portfolio for your investment goals and risk tolerance.
• Online Trading Platform: Full-service brokers typically offer an online trading platform that allows you to buy and sell stocks, view your portfolio, and access research and analysis. This means that you can easily manage your investments from anywhere, at any time.
• Higher Security: When you open a demat and trading account with a full-service broker, your investments are held in a dematerialized form, which means that there is no risk of physical theft or loss. Full-service brokers also typically have robust security measures in place to protect your investments and personal information.
• Lower Risk: Full-service brokers typically have a lower risk profile than discount brokers or other types of brokers, as they offer a range of investment products that are designed to meet the needs of different investors. This means that you can invest in a diversified portfolio that is tailored to your risk tolerance and investment goals.

In conclusion, opening a demat and trading account with a full-service broker can offer a range of benefits, from expert advice and a wide range of investment products to research and analysis, portfolio management, and online trading. So, if you’re looking to invest in the stock market, consider working with a full-service broker to help you achieve your investment goals.

How to Open Demat & Trading Account with Full Service Broker?

Opening a demat and trading account with a full-service broker is a simple and straightforward process. Here are the steps you need to follow to open a demat and trading account with a full-service broker:

In conclusion, opening a demat and trading account with a full-service broker is a simple and straightforward process. By following these steps, you can open a demat and trading account with a full-service broker and start investing in the stock market.

How do Full Service Broker make Money?

Full service brokers are financial professionals who offer a wide range of investment services to their clients. From providing research reports to executing trades, full service brokers can be a valuable resource for investors looking to navigate the complex world of the stock market. But how do full service brokers make money? Here, we’ll explore the ways in which full service brokers generate revenue.

• Commission Fees: One of the primary ways in which full service brokers make money is through commission fees. When a client buys or sells a stock, the broker charges a commission on the transaction. The commission fee can vary depending on the broker, the type of trade, and the size of the order. In some cases, brokers may also charge additional fees for services such as research or portfolio management.
• Management Fees: In addition to commission fees, full service brokers may also charge management fees. These fees are typically charged for services such as portfolio management or financial planning. The fee is usually calculated as a percentage of the client’s assets under management (AUM), and can range from 1% to 2% per year. Management fees can be a significant source of revenue for full service brokers, particularly for those managing large portfolios.
• Margin Interest: Full service brokers may also generate revenue through margin interest. Margin is a type of loan that allows investors to buy stocks with borrowed money. When an investor uses margin, they are charged interest on the amount borrowed. Full service brokers can earn money by charging a markup on the interest rate charged by the clearinghouse. The markup is usually a small percentage of the interest rate, but can add up over time for investors who use margin frequently.
• Investment Banking Services: Full service brokers may also generate revenue through investment banking services. Investment banking involves underwriting and selling securities such as stocks or bonds. Full service brokers can earn fees for these services, either through a flat fee or a percentage of the value of the securities being underwritten. Investment banking can be a lucrative source of revenue for full service brokers, particularly for those working with large institutional clients.
• Other Services: Full service brokers may also generate revenue through a variety of other services, such as insurance or estate planning. Brokers may earn commissions or fees for selling insurance products or for providing estate planning advice. These services can be a way for brokers to diversify their revenue streams and provide additional value to their clients.

In conclusion, full service brokers can generate revenue in a variety of ways, including commission fees, management fees, margin interest, investment banking services, and other services. While each broker may have a slightly different revenue model, the goal is always the same: to provide value to clients while earning a profit. By understanding how full service brokers make money, investors can make informed decisions about which broker to choose and how to best leverage their services.

New Money Making Strategies of Full Services Brokers

Does a Full Service broker provide Leverage or Exposure?

List of Full Service Brokers in India

1. Kantilal Chhaganial Securities
2. Kaynet Finance
3. Khandwala Securities
4. Lakshmishree Investment
5. LFS Broking
6. LKP Securities
7. LSE Securities
8. Maheshwari Financial
9. Mandot Securities
10. Mangal Keshav Securities
11. Mansukh Securities
12. Manubhai Mangaldas
13. Marfatia Stock Broking
14. Maverick Brokers
15. Microsec Capital
16. My Value Trade
17. Narayan Securities
18. Navia Markets
19. Networth Direct
20. N G Rathi
21. Nine Star Broking
22. Pace Stock Broking
23. Patel Wealth
24. POS Securities
25. Peerless Securities
26. Phillip Capital
27. Prabhat Finance
28. Pravin Ratilal
29. Progressive Share
30. Prudent Broking
31. RK Global
32. Rudra Shares
33. R Wadiwala Securities
34. Saaketa Consultants
35. Safal Capital
36. Satco Capital
37. Sharewealth Securities
38. SHCIL Services
39. Shree Bahubali
40. Shree Kanha Stock Broking
41. SKI Capital
42. Skung Tradelink
43. SPFL Securities
44. Sri Shirdi Capital
45. SS Corporate
46. Sunidhi Securities
47. Sunlight Broking
48. Sunness Capital
49. Suresh Rathi
50. Sykes & Ray
51. Systematix Shares
52. Tradeplus Online
53. Tradingbells
54. Trustline Securities
55. Unlock Wealth
56. Vachana Investments
57. VCK Stock
58. Veracity Finance
59. Vertex Securities
60. VNS Finance

Are Full Service Brokers better for beginners?

Investing in the stock market can be an intimidating prospect, particularly for beginners. With so many investment options to choose from and a vast array of technical terms and jargon to decipher, it can be difficult to know where to start. For this reason, many beginner investors turn to full service brokers for assistance. But are full service brokers really better for beginners? Let’s explore the answer to that question.

For beginners, there are several advantages to working with a full service broker:

• Guidance and Support: One of the primary benefits of working with a full service broker is the guidance and support they can provide. For beginners who are just starting to navigate the world of investing, having an experienced professional to provide advice and answer questions can be invaluable. Full service brokers can provide education on investment concepts and help investors understand how different investment options fit into their overall financial goals.
• Customized Investment Strategy: Another benefit of working with a full service broker is the ability to create a customized investment strategy. Full service brokers can take into account an investor’s unique financial situation, goals, and risk tolerance to develop a personalized investment plan. This can help beginners feel more confident in their investment decisions and ensure they are making choices that align with their long-term objectives.
• Diversification: Full service brokers can also provide access to a wide range of investment options, including equities, bonds, mutual funds, and more. This can help beginners diversify their portfolio and reduce risk. A diversified portfolio can help protect against market volatility and increase the likelihood of long-term success.

Disadvantages of Full Service Brokers for Beginners

While there are certainly advantages to working with a full service broker, there are also some potential drawbacks:

• Higher Fees: As mentioned earlier, full service brokers typically charge higher fees than discount brokers. For beginners who are just starting to invest and may have limited funds to work with, these higher fees can eat into their returns and make it more difficult to build a portfolio.
• Limited Control: Working with a full service broker means entrusting someone else with your investment decisions. While this can be a good thing for beginners who lack experience, it also means giving up some control over your portfolio. Some investors may prefer to have more control over their investments, even if that means making mistakes along the way.

So, are full service brokers better for beginners? The answer ultimately depends on an individual’s unique circumstances and preferences. For those who value guidance and support, a full service broker may be the best choice. However, those who prefer to have more control over their investments and are comfortable making their own decisions may be better suited to a discount broker. Regardless of which option a beginner chooses, it’s important to do research and carefully consider the fees, services, and support offered by different brokers to ensure the best possible investing experience.

Are Full Service Brokers better for Intraday Traders?

Intraday trading can be a high-risk, high-reward strategy that requires quick decision-making and careful analysis of market data. For traders who engage in this fast-paced style of trading, the question often arises: are full service brokers better for intraday traders?

Let’s explore the answer to that question.

What is Intraday Trading?

Intraday trading, also known as day trading, involves buying and selling stocks or other securities within the same trading day. Intraday traders aim to capitalize on short-term market fluctuations and often use technical analysis tools to identify entry and exit points.

Advantages of Full Service Brokers for Intraday Traders: For intraday traders, there are several advantages to working with a full service broker:

• Access to Research and Analysis Tools: Full service brokers typically offer a wide range of research and analysis tools that can help intraday traders make informed decisions. These tools can include real-time market data, technical analysis charts, and expert analysis and commentary.
• Personalized Support and Guidance: Intraday trading can be a high-stress endeavor, and having access to personalized support and guidance can be a big advantage. Full service brokers can provide traders with one-on-one guidance and support, helping them navigate the complexities of intraday trading and make more informed decisions.
• Advanced Trading Platforms: Many full service brokers offer advanced trading platforms that are specifically designed for intraday traders. These platforms can include features like advanced charting tools, real-time data feeds, and order management tools that can help traders execute trades quickly and efficiently.

Disadvantages of Full Service Brokers for Intraday Traders

While full service brokers can offer advantages for intraday traders, there are also some potential drawbacks:

• Higher Fees: Full service brokers typically charge higher fees than discount brokers or online brokers. For intraday traders who make frequent trades throughout the day, these fees can add up quickly and eat into profits.
• Limited Autonomy: Intraday traders often need to make quick decisions and execute trades in real-time. Working with a full service broker means relying on someone else to execute trades, which can create delays and limit autonomy.

So, are full service brokers better for intraday traders?

The answer ultimately depends on an individual trader’s unique circumstances and preferences. For those who value personalized support, guidance, and access to advanced tools and trading platforms, a full service broker may be the best choice. However, those who are comfortable making their own decisions and prefer to minimize fees may be better suited to a discount broker or online broker. Regardless of which option an intraday trader chooses, it’s important to carefully consider the fees, services, and support offered by different brokers to ensure the best possible trading experience.

Are Full Service Brokers better for Long Term Investors?

Long-term investing can be a rewarding way to build wealth and achieve financial goals. For investors who take a long-term approach, the question often arises: are full-service brokers better for long-term investors?
Let’s explore the answer to that question.

What is Long-Term Investing?

Long-term investing involves holding investments for an extended period, typically five years or more. Long-term investors aim to build wealth slowly and steadily over time, taking advantage of the power of compound interest.

Advantages of Full Service Brokers for Long-Term Investors

For long-term investors, there are several advantages to working with a full service broker:

• Personalized Investment Advice: Full service brokers can provide investors with personalized investment advice and guidance. They can help investors create a long-term investment strategy that aligns with their financial goals and risk tolerance.
• Access to Research and Analysis: Full service brokers often have access to a wide range of research and analysis tools that can help investors make informed investment decisions. They can provide investors with expert analysis and commentary on individual stocks and other investments, as well as broader market trends.
• Portfolio Management Services: Full service brokers can offer portfolio management services, helping investors build and maintain a diversified investment portfolio. They can provide ongoing monitoring and rebalancing to ensure that the portfolio stays on track to meet the investor’s long-term goals.
• Disadvantages of Full Service Brokers for Long-Term Investors: While full service brokers can offer advantages for long-term investors, there are also some potential drawbacks:
  Higher Fees: Full service brokers typically charge higher fees than discount brokers or online brokers. For long-term investors who hold investments for many years, these fees can add up over time and eat into returns.
• Limited Autonomy: Long-term investors often take a hands-off approach to investing, preferring to let their investments grow over time. Working with a full service broker means relying on someone else to manage investments, which can limit autonomy.

So, are full service brokers better for long-term investors? The answer ultimately depends on an individual investor’s unique circumstances and preferences. For those who value personalized investment advice and portfolio management services, a full service broker may be the best choice. However, those who are comfortable making their own investment decisions and prefer to minimize fees may be better suited to a discount broker or online broker. Regardless of which option a long-term investor chooses, it’s important to carefully consider the fees, services, and support offered by different brokers to ensure the best possible investment experience.

Advantages of choosing a Full Service Broker

Full-service brokers offer a wide range of services to investors, including personalized investment advice, access to research and analysis tools, and portfolio management services. Here are some of the key advantages of working with a full-service broker:

• Personalized Investment Advice: Full-service brokers can provide investors with personalized investment advice that takes into account their individual financial goals and risk tolerance. They can help investors create a long-term investment strategy that aligns with their needs, and can provide ongoing guidance as the investor’s financial situation changes.
• Access to Research and Analysis: Full-service brokers often have access to a wide range of research and analysis tools that can help investors make informed investment decisions. They can provide investors with expert analysis and commentary on individual stocks and other investments, as well as broader market trends.
• Portfolio Management Services: Full-service brokers can offer portfolio management services, helping investors build and maintain a diversified investment portfolio. They can provide ongoing monitoring and rebalancing to ensure that the portfolio stays on track to meet the investor’s long-term goals.
• Access to a Wide Range of Investment Products: Full-service brokers typically offer a wide range of investment products, including equities, derivatives, commodities, currencies, mutual funds, bonds, and more. This can provide investors with the flexibility to build a diversified investment portfolio that aligns with their financial goals.
• Convenience and Support: Working with a full-service broker can provide investors with convenience and support, as they have a dedicated professional to help them navigate the complexities of the investment landscape. They can also provide assistance with administrative tasks, such as setting up and managing a Demat and trading account.

Overall, a full-service broker can offer a range of advantages for investors, particularly those who value personalized advice, portfolio management services, and access to a wide range of investment products. However, it’s important to carefully consider the fees, services, and support offered by different brokers to ensure the best possible investment experience.

Disadvantages of choosing a Full Service Broker

While there are many benefits to working with a full-service broker, there are also some potential drawbacks to consider. Here are some of the key disadvantages of working with a full-service broker:

• Higher Fees: Full-service brokers typically charge higher fees than discount brokers, as they provide more extensive services and support. These fees can include commissions on trades, management fees for portfolio management services, and other administrative costs.
• Potential for Conflicts of Interest: Full-service brokers may have conflicts of interest, as they may earn commissions or other incentives for promoting certain investment products or services. This can create a situation where the broker’s recommendations are not always aligned with the investor’s best interests.
• Limited Control Over Investment Decisions: Working with a full-service broker can mean giving up some control over investment decisions, as the broker may make recommendations or trades on behalf of the investor. This can be a disadvantage for investors who prefer to have more control over their investment portfolios.
• Limited Flexibility: Full-service brokers may have more limited options when it comes to investment products, particularly when compared to discount brokers. This can limit an investor’s ability to build a customized and diversified investment portfolio.
• Time-Consuming: Working with a full-service broker can be time-consuming, particularly if the investor wants to be involved in the investment decision-making process. This can be a disadvantage for investors who prefer a more hands-off approach to investing.

Overall, while full-service brokers offer many benefits, it’s important to carefully consider the potential drawbacks before choosing a broker. Investors should carefully evaluate the fees, potential conflicts of interest, level of control over investment decisions, and overall flexibility offered by a full-service broker before making a decision.

Full Service Broker Business Model Conclusion

In conclusion, the full-service broker business model is based on providing a range of investment services and support to clients in exchange for fees and commissions. While these brokers offer many benefits, including extensive research and analysis, personalized advice and support, and a wide range of investment products, there are also potential drawbacks to consider, such as higher fees and potential conflicts of interest. Ultimately, whether a full-service broker is the right choice for an investor will depend on their individual needs, preferences, and investment goals. It’s important to carefully evaluate the services, fees, and overall level of support offered by a full-service broker before making a decision.

Full Service Broker FAQs

Top Share Brokers in India 2023 (Top 20 Stock Brokers)

Below is a comprehensive list of the leading stock brokers in India for the year 2023, ranked by the number of active clients. Zerodha has consistently held the top position among all brokers in India since 2019, followed closely by Upstox, Angel One, ICICIdirect, and Groww.

The list comprises the top 20 stock brokers who have amassed over 1 lakh active customers. It also includes the latest figures for each broker’s active client base. Please find the rankings for the top online brokers in 2023 below:

Share brokers, who are authorized members of stock exchanges such as BSE and NSE, carry out trade transactions on behalf of customers within these exchanges. In India, there are hundreds of registered stock brokers catering to retail customers. Broadly speaking, the most well-known stock brokers in India can be classified into two types:

• Full-service brokers: These brokers provide a comprehensive range of services, including stock trading, research and advisory assistance, as well as local support. They offer additional features such as portfolio management services (PMS), wealth management, and branch support. Some of the prominent full-service brokers in India are ICICI Direct, Sharekhan, HDFC Securities, Angel One, and Axis Bank.
• Discount stock brokers: These brokers primarily focus on online trading services for stocks and commodities. Unlike full-service brokers, they do not provide add-ons like research and advisory assistance, PMS, wealth management, or branch support. Some of the well-known discount stock brokers in India include Zerodha, 5paisa, and Upstox.

Important notes:

• The information presented in this report is compiled from the BSE and NSE stock exchanges.
• The rankings of the best brokers are updated on a monthly basis.
• To read a review of a specific broker, click on their name.

TOP 10 DISCOUNT BROKERS:

Discover the latest list of India’s top discount brokers in 2023, ranked by the number of active clients. Leading the pack is Zerodha, the top stock broker in the country, followed closely by discount brokers such as 5paisa, Upstox, and Samco.

Among the top discount brokerage firms, three stand out with over 100,000 active customers each. If you’re looking for the largest discount brokers in India, our yearly list of the top 10 discount stock brokers will provide you with the information you need.

Brokers in India can be categorized into two types based on the services they offer and the fees they charge: full-service brokers (top 10 full-service brokers) and discount brokers.

Discount brokers, also known as flat fee brokers or budget brokers, are online stock brokers that provide low-cost brokerage services. These technology-driven brokers have lower operational costs compared to their full-service counterparts. Most discount brokers do not offer add-ons such as research, advisory services, portfolio management, wealth management, dedicated relationship managers, or local branch support. This enables them to offer trading at significantly lower brokerage charges.

In fact, discount brokerage firms charge over 60% lower brokerage fees compared to full-service brokers. They also provide free online trading software to all their customers. Some of the most popular discount brokers include Zerodha, 5paisa, and Upstox.

Many discount brokers, including Zerodha and Upstox, offer brokerage-free equity delivery trading and direct mutual funds. For other segments, they charge a flat rate brokerage fee of Rs 20 per executed order, regardless of the trade size. Discount brokers like 5paisa even offer free research and advisory services to all their customers.

Certain discount stock brokers, like ProStocks, also offer fixed monthly unlimited trading plans. These plans allow customers to trade an unlimited number of times in a month for a fixed low monthly cost. Zerodha, with over 1 million customers, is the most renowned discount broker in India, offering excellent products and services.

Please note:

• The data used in this report is sourced from the BSE and NSE stock exchanges.
• The broker rankings are regularly updated on a monthly basis.
• Click on the broker names to read detailed broker reviews.

TOP 10 FULL SERVICE BROKER

Discover the definitive list of India’s top full-service brokers in 2023, ranked by the number of active clients. Topping the charts is ICICI Direct, the leading stock broker in the country. ICICI Bank is closely followed by other prominent full-service brokers such as HDFC Securities, Sharekhan, and Kotak Securities.
More than 15 top full-service brokerage firms boast over 100,000 active customers each. Our comprehensive year-wise list will assist you in identifying the highest-rated full-service brokerage firms in India.

In India, brokers are categorized into two types based on the services they offer and the fees they charge: full-service brokers and discount brokers (top 10 discount brokers). Full-service brokers provide a wide range of additional services beyond stock trading, including research reports, advisory services, dedicated relationship managers, and assistance with various investment products such as mutual funds, IPOs, debt instruments, insurance, and loans.

On the other hand, discount brokers leverage technology to reduce operational costs and offer low-cost online brokerage services. They typically do not provide the add-ons commonly associated with full-service brokers.

Full-service brokers are suitable for the following types of investors/traders:

• Beginner investors who require guidance and support in their early trading days.
• Traders seeking higher margins or margin funding, as a personal relationship with the broker or sub-broker can lead to significantly increased margins.
• Traders who heavily rely on call & trade services or prefer in-person visits to local branches. Discount brokers often charge extra for call & trade services and may not have physical branches.
• Investors interested in a diverse range of financial products offered by the broker, such as mutual funds, IPOs, debt instruments, insurance, fixed deposits, etc.

Some of the most popular full-service brokers include ICICI, HDFC, and Sharekhan.

The 3-in-1 account, which combines a bank savings account, a trading account, and a demat account, is one of the standout offerings from top full-service brokerage firms. This account enables seamless transactions across the three accounts and provides the utmost convenience for online trading.

In addition to the standard percentage-based brokerage structure, many traditional brokerages offer volume-based plans where the brokerage varies based on the transaction size on a periodic basis. At higher turnover levels, the brokerage can be as low as 0.05-0.15%.

ICICI, with over 1 million customers, holds the position as the second-largest and most renowned full-service broker in India.

Please note:

• The data used in this report is sourced from the BSE and NSE stock exchanges.
• The broker rankings are regularly updated on a monthly basis.
• Click on the broker names to access detailed broker reviews.

LIFETIME FREE DEMAT ACCOUNT

The initial step in investing in the Indian stock market, mutual funds, IPOs, and NCDs is to open a Demat account.

In simple terms, a Demat account functions similarly to a bank account. The key distinction is that instead of holding money, you hold shares, mutual funds, or bonds in electronic form within the Demat account. Storing stocks and mutual funds in a Demat account offers several advantages, including enhanced security and faster transactions.

The Demat Annual Maintenance Charge (AMC) is an annual fee paid by customers to keep their accounts active. Whether you use the account or not, as long as you hold a Demat account, you are obligated to pay the AMC.

AMC-Free Demat Account

Certain brokers in India offer AMC-Free Demat Accounts, where customers are not required to pay any yearly charges under this scheme. However, some conditions may apply, such as a one-time fee at the time of account opening or refundable deposits. It is advisable to check with the broker for more details.

Lifetime Free Demat Account

Lifetime Free Demat Accounts are accounts that do not charge AMC for the entire duration of the account’s existence. These accounts are especially beneficial for beginners as they help reduce costs. Brokers who offer Lifetime Free Demat Accounts usually request a one-time fee or a small refundable deposit, such as Rs 1000.

Opening a Free AMC Demat Account Online

To open a Demat account online without AMC charges, the first step is to find a suitable broker that meets your investment requirements. The provided list offers brokers who offer lifetime free Demat accounts. Click on the broker’s name to access a detailed broker review. Fill out the inquiry forms to request a callback from the broker.

Note:

• The list of brokers offering lifetime free Demat accounts is subject to change.
• Ensure to verify the terms and conditions associated with each broker’s offering.

BEST BROKER FOR BEGINNERS

A stockbroker account grants you access to investing in stocks, mutual funds, IPOs, and bonds. There are hundreds of stockbrokers operating in India, but we can assist you in finding the best brokerage firm specifically tailored for beginners.

As a novice investor, it is important to consider the following factors when selecting a stockbroker:

• Investor education program offered by the broker
• Low trading costs
• User-friendly trading platform
• Availability of Direct Mutual Funds and IPOs

There are two key charges that beginners should take into account:

• Demat AMC: This is a recurring yearly charge for maintaining a demat account. The Demat account maintenance charge (AMC) is applicable regardless of whether you actively use the account. For more detailed information, refer to our article on “Demat Account Charges Explained.”
• Brokerage for Equity Delivery: This refers to the fee you pay to the broker when buying or selling shares in a cash transaction. The equity shares involved in these transactions are deposited or withdrawn from the demat account. For a comprehensive understanding, please review our article on “Brokerage Charges Explained.”

We have compiled a list of the top 10 discount brokers in India specifically suitable for beginners. This list compares their low charges and excellent online stock trading services.

ZERODHA

Zerodha, a leading and highly regarded brokerage firm in India, holds the distinction of being the country’s top stockbroker. With a strong reputation, it offers a wide range of online flat fee discount brokerage services, allowing investors to participate in various markets such as Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Govt. Securities, and Direct Mutual Funds.

When it comes to equity delivery trades and direct mutual funds, Zerodha levies zero brokerage charges. For intraday and Futures trades, the brokerage fee is a flat rate of Rs 20 or 0.03% (whichever is lower) per trade. In the case of Options trades, Zerodha charges a flat rate of Rs. 20 per executed order. This means that regardless of the size, amount, or segment of your transaction, the maximum brokerage you will pay with Zerodha is Rs 20 per order.

Zerodha Review 2023

Zerodha currently stands as the top stock broker, providing a remarkable online trading platform and offering its services at a low brokerage fee. Known for its transparency, Zerodha has become the fastest-growing fintech company in India due to its continuous focus on improvement and innovation. Here are the notable strengths of Zerodha:

• Zerodha holds the position of the largest stockbroker in terms of active clients, market volume, and new customer acquisition.
• It is regarded as one of the safest, most reliable, and trustworthy brokers in the industry.
• Zerodha offers highly advanced online trading tools, ensuring a technologically superior trading experience.
• When it comes to Equity Delivery and Mutual Funds, Zerodha charges zero brokerage fees.
• The maximum brokerage fee per trade is capped at Rs 20, leading to substantial savings of 60% to 90% when compared to traditional brokers.
• Zerodha provides leverage of up to 20x for intraday trading.
• Zero Commission Direct Mutual Funds are also available through Zerodha.
• Zerodha caters to a wide range of investors, including active and passive investors, beginners, active traders, and algo traders.

Zerodha stands out as the most technologically advanced stock broker in India, showcasing its dedication to customer satisfaction. It has developed multiple trading software options for its customers, such as Zerodha Kite (a web and mobile trading app), Coin (a mutual fund investment platform), Varsity (an investor education program), Trading Q&A, and various other tools. Additionally, Zerodha offers additional platforms like Smallcase (a thematic investment platform), Streak (an algo and strategy platform), Sensibull (an options trading platform), GoldenPi (a bonds trading platform), and Ditto (an insurance platform).

Zerodha is safe for investment because:

• Zerodha maintains one of the lowest complaint ratios in relation to its active clients on the exchange.
• Zerodha is a company with zero debt, indicating its strong financial position.
• Zerodha does not provide Margin Funding services.
• Zerodha ensures that client securities are not held in pooled accounts.
• Zerodha does not engage in proprietary trading using client funds.

Zerodha Charges 2023

Zerodha Account Opening Charges

The charges for opening a Zerodha account online are Rs 200, while the fee for offline account opening is Rs 400. Additionally, the annual maintenance charge (AMC) for the demat account is Rs 300 per year.

Zerodha Brokerage Charges 2023

Zerodha employs a fixed brokerage model, wherein it levies a flat fee of Rs 20 or 0.03% (whichever is lower) per executed order. For equity delivery, Zerodha does not impose any brokerage charges. Furthermore, the maximum brokerage fee per order is limited to Rs 20.

Zerodha Equity Charges

Zerodha employs a fixed brokerage model, wherein it levies a flat fee of Rs 20 or 0.03% (whichever is lower) per executed order. For equity delivery, Zerodha does not impose any brokerage charges. Furthermore, the maximum brokerage fee per order is limited to Rs 20.

Zerodha F&O Charges

Zerodha applies a flat fee of Rs 20 per executed order or 0.03% (whichever is lower) for brokerage on Futures trades. As for Options trades, there is a flat charge of Rs 20 per executed order. Additionally, it is important to note that taxes such as STT, Transaction Fee, GST, SEBI charges, and Stamp Duty are applicable and need to be paid accordingly.

Zerodha F&O Charges

For Zerodha, the brokerage charge for Futures trades is a fixed Rs 20 per executed order or 0.03% (whichever is lower). When it comes to Options trades, there is a flat charge of Rs 20 per executed order. It is important to note that in addition to these brokerage charges, you are also required to settle taxes such as STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.

Zerodha Currency Charges

Zerodha applies a fixed brokerage charge of Rs. 20 per executed order or 0.03% (whichever is lower) for currency futures trades. Similarly, for currency options trades, there is a flat charge of Rs. 20 per executed order. It is important to note that along with the brokerage charges, customers are also responsible for paying taxes such as STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.

Zerodha Commodities Charges

Zerodha implements a fixed brokerage charge of Rs 20 or 0.03% (whichever is lower) per executed order for commodity futures trades. Additionally, for commodity options trades, there is a flat brokerage charge of Rs 20 per executed order. It is important to note that in addition to these brokerage charges, customers are required to settle taxes such as STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.

Note: SEBI charges for Agri products is 0.00001% (Rs 1/Crore).

Zerodha Fee Structure:

• Securities Transaction Tax (STT): This tax is applicable only on the sell side for intraday and F&O trades. For delivery trades in equity, it is charged on both the buy and sell sides.
• Transaction Charges (Exchange Turnover Charges): These charges are imposed by the stock exchanges for using their trading platform.
• Goods and Services Tax (GST): GST is levied at a rate of 18% on the total cost of brokerage, along with SEBI charges and transaction charges.
• SEBI Charges: SEBI charges are applied at a rate of Rs 10 per Crore.
• Stamp Duty:
  • Equity Delivery: 0.015% on the buy side.
  • Equity Intraday: 0.003% on the buy side.

Zerodha Hidden Charges:

Zerodha’s brokerage also includes certain hidden charges, which are outlined as follows:

• Call and Trade Charges: The Call and Trade feature is available at an additional cost of Rs 50 per call.
• Additional Charges for Unsettled Positions: An extra charge of Rs 50 per executed order is applied for positions under MIS/BO/CO which are not squared off by the customer.
• Physical Contract Notes: Digital contract notes are sent via email. However, if physical copies of contract notes are required, they can be ordered for an additional charge of Rs 20 per contract, excluding courier charges.
• Trade SMS Alerts: Optional trade SMS alerts are charged at Rs 1 for equity, F&O, and currency trade alerts, and Rs 0.50 for commodity trade alerts.
• Instant Payment Gateway Charges: Instant fund transfers through more than 22 banks incur a charge of Rs 9 per transaction.
• DP Charges: For equity selling based on delivery, DP charges amount to Rs 13.5 + GST per transaction.

Zerodha Online Account Opening

In order to engage in online trading with Zerodha, it is necessary for the investor to initiate the account opening procedure. This can be accomplished by completing the following steps to swiftly establish an account and commence trading on the same day:

• Navigate to Zerodha.com.
• Locate and select the signup button positioned on the right-hand side of the top menu.
• Input your mobile number.
• Enter the OTP (One-Time Password) received on your mobile device.
• Proceed with providing your personal details, PAN (Permanent Account Number), and bank account information during the registration process.

Zerodha Trading Software (Zerodha Trading Platforms)

A customer can trade with Zerodha in following ways:

Kite 3.0 (Web-based Trading Platform)

Zerodha Kite Web, introduced in November 2015, is a trading platform based on HTML 5 that is lightweight and fast. It can be accessed on mobile devices, tablets, and web browsers. Zerodha developed Kite in-house and has continuously updated it since its launch. Currently, Zerodha offers Kite 3.0 as its web platform. Kite 3.0 provides a comprehensive market watch, extensive charting options with over 100 indicators and 6 chart types, advanced order types including Cover order, GTT order, millisecond order placements, and more. Users can trade on BSE, NSE, and MCX using Kite Web 3.0. The platform is freely available to all Zerodha customers.

Zerodha Console (Reporting Dashboard)

Zerodha’s Console serves as the back-office platform for customers. It acts as a trade and reporting dashboard, enabling Zerodha customers to conveniently monitor and oversee all their investments, including stocks, derivatives, and mutual funds. Additionally, Console provides access to a range of reports, allows users to view account statements, place withdrawal requests, and download contract notes. Furthermore, the ‘Console’ includes analytics tools like tradebook and heatmap to offer valuable insights.

Zerodha Sentinel (Price Alert Tools)

Sentinel, a cloud-based tool provided by Zerodha, enables customers to establish price alerts for stocks, futures, and options. What sets Sentinel apart is its distinctive functionality, unlike other similar tools that rely on machine dependency and only activate when the computer is operational. With Sentinel, price alerts can be triggered at any time, even when the computer is powered off. Customers receive notifications via Kite and email each time a price alert is activated. This powerful tool allows traders to set real-time price alerts for a wide range of assets, including 80,000 stocks, derivatives, bonds, and more, across various exchanges.

Zerodha Coin (Mutual Fund Investment)

Zerodha Coin is an investment platform provided by Zerodha specifically for Mutual Funds. With Coin, individuals have the opportunity to invest in Direct Mutual Funds, allowing for commission-free investments. By eliminating commissions, Coin enables savings of more than 1.5% annually. The Mutual Funds are securely held within a Demat account that is linked to the Zerodha trading account.

Call & Trade

For customers who are not able to access online platforms, Zerodha offers the Call & Trade function as an alternative for placing orders. However, please note that this service comes with an additional cost of Rs 50 per trade.

Zerodha provides its customers not only with its own trading platforms and tools but also with products developed by other companies that utilize the Zerodha platform. These tools can be seamlessly integrated with Zerodha’s Kite platform. The following are the trading platforms and tools offered by Zerodha partners:

• Smallcase: This unique thematic investment platform allows users to invest in pre-made portfolios of stocks centered around specific themes, ideas, or strategies. Users have a variety of smallcases to choose from, such as Top 100 stocks, Electric Mobility, Insurance, and more, based on their investment strategy. Investing in these portfolios can be done with a single click.
• Streak: Streak is a comprehensive cloud-based platform designed for retail traders to create and execute algorithms without the need for coding. Traders can backtest their algorithms using historical data and implement them in real-time market conditions. Streak also offers features like real-time information, alerts, and position management.
• Sensibull: Sensibull is an options trading platform that provides trading strategies based on a trader’s market view. Traders can compare different strategies, evaluate their profitability, understand associated risks, and execute trades directly from the platform. Sensibull also allows traders to create custom option trading strategies.
• GoldenPi: GoldenPi is an online platform for trading bonds and debentures. This automated and technology-enabled platform offers real-time updates on new investment options and incoming interest payments. It also provides personalized assistance to investors. GoldenPi does not charge any fees from customers, and the minimum investment amount for bonds is Rs 10,000.
• Ditto: Ditto is an online insurance platform that offers effective and helpful advice on insurance. The platform provides various insurance solutions tailored to meet the needs of customers. It serves as an advisory and insurance investment platform, allowing users to book a free call, understand their requirements, and purchase insurance accordingly. Customers can buy different types of health and life insurance through the app.

Zerodha Pros and Cons

Zerodha Pros (Advantages)

Here are the advantages of Zerodha that you should consider before opening an account with them. Understanding the pros and cons of Zerodha will help you determine if it aligns with your investment needs:

• Market Leader: Zerodha is the largest stock broker in India in terms of active clients and daily trading volume, making it highly popular among traders.
• Safety and Reliability: Zerodha is regarded as one of the safest, most reliable, and trustworthy brokers in India, ensuring the security of your investments.
• Advanced Trading Platforms and Tools: Zerodha offers the best-in-class trading platforms and tools such as Kite, Console, and Coin, providing a seamless trading experience.
• Zero Brokerage on Equity Delivery Trades: When you buy shares using the cash-and-carry (CNC) method, Zerodha does not charge any brokerage fees. This is especially beneficial for long-term investments without leverage.
• Cost-Effective: Zerodha is known for its affordable pricing model. They charge either 0.03% or a maximum of Rs 20 per executed order, whichever is lower, regardless of the trade size. This makes Zerodha one of the cheapest share brokers in India.
• Referral Program: Zerodha offers a referral program where you can refer a friend and earn 10% of the brokerage share as a reward.
• Self-Clearing Broker: Zerodha operates as a self-clearing broker, meaning they do not charge customers for clearing charges.
• Pay-as-you-go Brokerage Plans: Zerodha follows a simple pay-as-you-go brokerage plan. They do not offer prepaid brokerage plans, providing flexibility in managing your trading costs.
• GTT Orders: Zerodha offers GTT (Good Till Triggered) orders, allowing you to set long-standing stop loss and target orders for your stock investments.
• Zerodha Kite 3 Mobile App: The Zerodha Kite 3 mobile app is designed for both passive investors and active day traders. It provides enhanced speed and user experience for convenient trading on-the-go.
• Online IPO Applicaton: Zerodha facilitates online applications for new IPOs (Initial Public Offerings) directly through your Zerodha account, streamlining the process of participating in IPOs.

It is recommended to thoroughly review these advantages and disadvantages to assess if Zerodha suits your specific investment requirements.

Zerodha Cons (Disadvantages)

Here are the drawbacks of Zerodha that you should be aware of:

• Lack of Stock Tips and Research Reports: Zerodha does not provide stock tips, research reports, or recommendations to assist traders in making investment decisions.
• Absence of Monthly Unlimited Trading Plans: Zerodha does not offer monthly unlimited trading plans, which may be a disadvantage for traders who prefer high-frequency trading.
• No Lifetime Free AMC Demat Account Plans: Zerodha does not provide lifetime free Annual Maintenance Charges (AMC) demat account plans. Customers are required to pay the applicable AMC fees.
• Additional Charges for Unsettled MIS/BO/CO Positions: If customers fail to square off Margin Intraday Square-up (MIS), Bracket Order (BO), or Cover Order (CO) positions on their own, Zerodha levies an extra charge of Rs 50 per executed order.
• Additional Fee for Call & Trade: Zerodha offers a Call & Trade service for placing orders over the phone, but it comes with an additional fee of Rs 50 per executed order.
• Absence of 3-in-1 Trading Account: Zerodha does not provide a 3-in-1 trading account that includes banking services. Customers need to manage their banking needs separately.
• Lack of Integration between Trading Platform and Back Office: Unlike some providers of 3-in-1 accounts, Zerodha’s Back Office (console) is not directly integrated with its trading platform. This means that data in the back office is updated overnight, potentially causing delays in accessing real-time information.
• Unavailability of BSE SME IPOs: Zerodha does not offer BSE SME IPOs, limiting the options available for investing in IPOs. However, NSE SME IPOs are still accessible through Zerodha.
• It is important to consider these drawbacks and evaluate their impact on your trading preferences before choosing Zerodha as your brokerage platform.

Zerodha Margin Exposure

Zerodha offers margin facilities for intraday trading, allowing traders to leverage their positions. The margin provided for intraday trading is up to 20% of the trade value, with a maximum leverage of 5x, depending on the specific stock being traded.

For futures and options (F&O) intraday trading in Equity, Currency, and Commodity markets at BSE, NSE, and MCX, Zerodha provides a margin of 1.3x. This margin allows traders to amplify their trading positions.

It’s important to note that Zerodha does not offer any additional margin for F&O carry forward positions or equity delivery trades. The margin facilities are specifically applicable to intraday trading activities.

Zerodha Complaint

The number of Zerodha customer complaints received by the exchanges. The Zerodha consumer complaint report helps understand the Zerodha quality and reliability of service.

Zerodha Pin Codes

Zerodha customer gets 3 pin numbers (passwords or pass codes) for different purposes:

1. Kite PIN (for Login to Kite)
2. Zerodha Telephone Code (for calling Zerodha)
3. Zerodha CDSL TPIN(for Demat Sell Transaction)

Zerodha Short Selling

1. Equity F&O Segment – Zerodha allows intraday and overnight short selling in the F&O segment.
2. Equity Cash Segment – Zerodha allows short selling only for Intraday, but not for overnight positions.

Zerodha FAQs:

PROSTOCKS

ProStocks is a registered stock broker and depository participant regulated by SEBI. It is a rapidly growing discount stock broker that provides online trading services at both BSE and NSE. ProStocks is particularly known for its unlimited trading plan, offering unlimited equity and derivatives trading at a monthly fee of Rs 899, or unlimited currency derivatives trading for Rs 499 per month. This makes ProStocks the most cost-effective broker in terms of unlimited trading plans, with traders saving between 60% to 99% on brokerage compared to other brokers.

In addition to the unlimited trading plan, ProStocks also offers a Rs 15 per trade pricing plan, which is popular among casual investors and traders. With this plan, customers pay a flat fee of Rs 15 per executed order, regardless of the order size.

ProStocks facilitates trading in various segments including equity delivery, equity intraday, equity derivatives (F&O), and currency derivatives (F&O) at both BSE and NSE. They provide a custom-built trading platform that offers convenient trading through an installable trading terminal, website, and mobile app, all provided to customers free of charge. Furthermore, ProStocks also offers trading through the NSE NOW trading platform.

The 2-in-1 account offered by ProStocks, combining a trading and demat account, ensures seamless and hassle-free stock trading for investors by enabling smooth transactions between the trading and demat accounts.

ProStocks stands out by offering the most affordable call & trade service among all other discount brokers. While most brokers charge an additional Rs 20 per trade for Call & Trade, ProStocks offers this service through a dealer at an extra cost of only Rs 10 per trade.

Account Types

The Unlimited Trading Plan (Rs 899 per Month)

ProStocks provides unlimited trading plans on a monthly and yearly basis for equity cash, equity derivatives, and currency derivatives segments. With these plans, clients can trade an unlimited number of times without being concerned about brokerage charges. For a fixed monthly fee of Rs 899 for equity and Rs 499 for currency trading, customers can enjoy unlimited trading opportunities without worrying about accumulating brokerage bills. This plan offers a low break even point, allowing clients to profit even from narrow price movements. ProStocks also offers yearly unlimited trading plans priced at Rs 8,999 for equity and Rs 4,999 for currency trading, providing customers with long-term options for unlimited trading.

Flat Fee Trading Plan (Rs 15 Per Trade)

ProStocks’ flat Rs 15 per trade trading plan caters to both casual investors and frequent traders in the Indian share market. Regardless of the trade size, customers only pay Rs 15 per executed order. This pricing applies to trading in all segments at both BSE and NSE, ensuring a consistent rate for all transactions.

Prostocks Charges 2023

• Trading Account Opening Charges: Rs 0 (Free)
• Demat Account Opening Fee: Rs 0 (Free)
• Demat Account AMC: Rs 0 (Free for lifetime with Rs 1000 onetime refundable deposit)

ProStocks Brokerage Charges

• Equity Delivery : Rs 15/trade (Flat Fee Plan) or Rs 0/trade (Unlimited Trading Plan)
• Equity Intraday and F&O: Rs 15/trade (Flat Fee Plan) or Rs 0/trade (Unlimited Trading Plan)
• Currency F&O: Rs 15/trade (Flat Fee Plan) or Rs 0/trade (Unlimited Trading Plan)

Prostocks Equity Brokerage Charges

Prostocks provides brokerage-free equity delivery trading, meaning there is no brokerage fee charged for such trades. For equity intra-day trades, they charge a brokerage fee of Rs 15 per trade. However, in their unlimited trading plan priced at Rs 899 per month, equity intra-day trading is also included without any brokerage charges.

Prostocks F&O Brokerage Charges

Prostocks charge Rs 15 per trade brokerage for Equity F&O trades in flat fee plan. In an unlimited trading plan (Rs 899 per month), Equity F&O trading is brokerage free.

Prostocks Currency F&O Brokerage

In the flat fee plan, Prostocks charge Rs 15 per trade brokerage for Currency F&O trades. In an unlimited trading plan (Rs 499 per month), Currency F&O trading is brokerage free.

ProStocks Fee Structure:

• STT (Securities Transaction Tax) is levied only on the sell side for intraday and F&O (Futures and Options) trades. However, for equity delivery trades, it is charged on both the buy and sell sides.
• Stamp Duty is a government tax in India imposed on trading activities in stocks, currency derivatives, and commodities. For equity delivery trades, the stamp duty rate is 0.015% (Rs 1500 per crore), while for equity intraday trades, it is 0.003% (Rs 300 per crore).
• Goods and Services Tax (GST) is charged at a rate of 18% on the total cost of brokerage and transaction charges.
• SEBI (Securities and Exchange Board of India) Charges amount to Rs 10 per crore of the transaction value.

Other Charges:

• Call & Trade charges for intraday and F&O trades are Rs 10 per trade, while for delivery trades, it is Rs 25 per trade.
• For instant payment gateway transactions across more than 22 banks, there is a charge of Rs 9 per fund transfer.
• DP (Depository Participant) charges for delivery-based equity sell transactions incur a flat fee of Rs 20 for every debit transaction.
• Standard NSE (National Stock Exchange) charges, transaction charges, and statutory levies are applied as indicated in the table above.

Prostocks Online Account Opening

ProStocks stands out as one of the rare brokers that provide a 100% online account opening process. By having your PAN Number and Aadhaar card on hand, you can easily open an account within a matter of minutes. There’s no need to download PDFs, print forms, sign papers, or go through the hassle of sending documents via courier to the broker.

Click here to open an account with ProStocks online.

Prostocks Trading Software (Prostocks Trading Platforms)

ProStocks offers 3 trading applications to cater all kinds of stock market investors. All trading apps are available free to all its customers.

ProStocks Desktop

ProStocks Desktop is a trading terminal that can be installed on your computer. It caters to the needs of frequent traders who require professional trading tools, real-time intra-day charts, live streaming of market data, and the ability to access multiple markets and segments within a single window. It offers a quick and seamless order entry and execution process. This robust trading terminal has been meticulously designed and tested by dealers, and it is the same platform used by ProStocks Dealers to efficiently handle numerous call & trade orders each day.

ProStocks Web

ProStocks Web is a browser-based stock trading website that is specifically designed for casual investors and traders. It is platform-independent and can be accessed through any web browser from any computer connected to the internet. The user-friendly website provides all the essential features required by an investor to trade in the stock market. It offers real-time access to market data, including live quotes and news updates, and allows users to access multiple markets and segments.

ProStocks Mobile

ProStocks Mobile is a mobile trading app designed for individuals who prefer to trade on the go. It is compatible with Android and Apple devices, providing a secure, user-friendly, and powerful trading experience. The mobile app enables users to conveniently trade stocks and access market information from their smartphones or tablets.

Prostocks Pros and Cons

Prostocks Pros (Advantages)

Here are the advantages of ProStocks. It is recommended to review the pros and cons of ProStocks before opening an account to determine if it meets your investment needs.

• Monthly Trading Plans: ProStocks offers highly affordable monthly plans, such as the Rs 899 Equity & Equity F&O plan and the Rs 499 Currency plan. These plans provide unlimited trading opportunities within a month. For casual investors, the Rs 15 per trade plan is a suitable option.
• Lowest Transaction Charges: ProStocks ensures the lowest transaction charges by excluding PCM Fee, unlike many other flat-rate brokers, including Zerodha and RKSV.
• Competitive Call & Trade Charges: ProStocks offers the lowest Call & Trade charges in the discount brokerage industry, with only Rs 10 per executed order. In comparison, competitors like Zerodha and RKSV charge Rs 20 per trade.
• Online IPO Application: With ProStocks, you can directly apply for new IPOs (Initial Public Offerings) using your ProStocks account.
• 2-in-1 Account: ProStocks provides a seamless 2-in-1 account, combining the Demat and Trading accounts. This facilitates smooth transactions between the two accounts.
• Demat Account AMC: The ProStocks Demat account comes with a Rs 0 Annual Maintenance Charge (AMC) when you pay a one-time refundable deposit of Rs 1000. In contrast, other brokers typically charge AMC fees ranging from Rs 600 to Rs 1000.
• Advanced Trading Platform: ProStocks offers a top-notch trading platform that is highly regarded in the industry. Their website, terminal, and mobile app are all free and fully functional, providing a seamless trading experience.
• Excellent Customer Service: According to feedback from many customers, ProStocks has exceptional customer service, ensuring that client queries and concerns are promptly addressed.
• Referral Service: ProStocks offers a 10% brokerage referral for customers referred by existing clients.
• 24×7 Customer Service through Advanced Interactive Voice Response (IVR): ProStocks provides round-the-clock customer service through an advanced IVR system.
• Prop Trading Exclusion: ProStocks does not engage in Prop Trading, assuring the safety of your funds.
• Trading in SME Shares: ProStocks allows trading in SME Shares, providing investors with additional trading opportunities.

Prostocks Cons (Disadvantages)

The following are the cons of Prostocks. Check the list of Prostocks drawbacks.

• Absence of 3-in-1 Account: ProStocks does not provide a 3-in-1 account since they do not offer banking services. They solely offer trading and demat accounts.
• No Commodity Trading: ProStocks has not currently introduced commodity trading. However, the broker has expressed plans to offer commodity trading in the near future.
• Limited IPO Availability: ProStocks allows trading in BSE SME IPOs only. NSE SME IPOs are not available through their platform

Prostocks Margin Exposure

ProStocks offers intraday trading margin of up to 20% of the trade value, with a maximum leverage of 5x, depending on the stock. For F&O intraday trading, ProStocks provides a margin of 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. ProStocks does not offer any additional margin for F&O carry forward positions and equity delivery trades.

Prostocks Complaint

The exchanges have received a certain number of customer complaints regarding ProStocks. The consumer complaint report for ProStocks assists in assessing the quality and reliability of their services.

• The number of active customers reported by the broker.
  ** The total number of complaints received against the broker at the given exchange.

ProStocks Membership Information:

ProStocks is a duly registered stock broker and depository participant. It is a member of both BSE and NSE, operating as a SEBI-registered Trading Member and providing Demat Account services.

• ProStocks NSE Member ID: 6635
• ProStocks BSE Member ID: 90084
• SEBI Trading Member Regn. No.: INZ000048660
• SEBI DP Registration Number (CSDL): IN-DP-280-2016

UPSTOX

Upstox is an innovative and cost-effective brokerage firm in India that prioritizes technology. It offers trading opportunities across various segments, including equities, commodities, currency, futures, and options, through its Upstox Pro Web and Upstox Pro Mobile trading platforms. Notable investors, such as Kalaari Capital, Ratan Tata, and GVK Davix, have provided support to Upstox.

The Upstox trading platform provides an array of features, including trading, analysis, and charting capabilities. It offers a user-friendly interface for placing orders through both mobile phones and web browsers. The platform is built on the Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS (Risk Management System). With Upstox Pro, traders gain access to trading opportunities in Equity F&O, Equity Intraday, Commodities, and Currency Derivatives. Upstox Pro is a paid service offered by Upstox.

Upstox Charges 2023

Upstox Account Opening Charges: Rs 0 (Free)

Upstox Demat AMC: Rs 150 per year

Upstox Equity Delivery & Intraday Charges

For equity delivery, Upstox charges a brokerage of Rs 20 or 2.5% of the order value, whichever is lower. As for equity intraday trading, the brokerage is Rs 20 per executed order or 0.05% of the order value, whichever is lower.

Upstox Equity F&O Charges

Upstox Equity F&O brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox Currency Charges

Upstox Currency brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox Commodity Charges

Upstox Commodity brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox Charge Explained:

• STT: Intraday and F&O trades are charged STT only on the sell side, while for equity delivery trades, it is charged on both the buy and sell sides.
• Stamp Duty: The charges for stamp duty vary based on the state where the customer is located.
• Goods and Services Tax (GST): GST is charged at a rate of 18% on the total cost of brokerage plus transaction charges.
• SEBI Turnover Fees: SEBI turnover fees are charged at a rate of Rs 10 per Crore.

Other Charges (Upstox Broker Hidden Charges / Fees):

• Call & Trade: There is a charge of Rs 20 per executed order for using the call and trade facility.
• Physical contract notes: Each physical contract note is charged at Rs 25, along with additional courier charges. Digital contract notes are provided free of charge.
• Instant Money Transfer Fee: A fee of Rs 7 is charged per transfer for instant money transfers.

Upstox Trading Software (Upstox Trading Platforms)

Upstox provides trading services through its mobile app and website. The trading platform, developed in-house by RKSV, is designed to offer a seamless experience for placing orders via mobile devices and web browsers. Currently, Upstox does not offer a trading terminal.

Upstox Pros and Cons

Upstox Pros (Advantages)

The advantages of Upstox are as follows. Before opening an account with Upstox, it is important to review its advantages and disadvantages to determine if it aligns with your investment needs.

• Online account opening is free of charge.
• Flat brokerage of Rs 20 per trade is applicable across all segments (delivery, intraday, and F&O).
• No software usage charges.
• Advanced order types, such as AMO (After Market Orders), CO (Cover Orders), SL (Stop Loss), and GTT (Good Till Triggered), are available.
• Margin Trading Facility (MTF) is offered at an interest rate of Rs 20 per day for slabs of Rs 40,000.
• Margin Against Shares is available.
• Upstox Pro Web Trading Platform provides multiple indicators for monitoring markets on-the-go.
• Upstox Bridge for AmiBroker allows you to code and execute trading strategies using the AmiBroker AFL editor.
• Upstox Developer Console enables you to build your own trading app using languages like Python.
• Upstox Option Chain Tool helps traders access spot and future prices, compare rates, view circuit levels, and check market depth. It also provides information on volatility, open interest, performance indicators, and greeks.
• Upstox MF Platform offers a wide selection of Mutual Funds for investment, allowing customers to choose between lump sum and SIP (Systematic Investment Plan) patterns.
• It is advisable to carefully consider these pros and cons before deciding to open an account with Upstox.

Upstox Cons (Disadvantages)

Here are the drawbacks of Upstox. Please review the list of cons associated with Upstox:

• The brokerage fee for stock deliveries is Rs 20 per trade, while many other brokers provide stock deliveries without charging any brokerage fees.
• Upstox does not offer unlimited monthly trading plans.
• Margin funding is not available for delivery trades.
• Upstox does not provide stock tips or recommendations.
• A 3-in-1 account is not offered by Upstox.
• 24/7 customer support is not available.
• API access for automated trading is not provided.
• NRI Trading and Demat accounts are not offered by Upstox.
• The call-and-trade fee is Rs 20 per executed order.
• Automatic settlement incurs an additional charge of Rs 20 per executed order.

Please consider these drawbacks when evaluating Upstox as a potential option.

Upstox Margin Exposure

Upstox provides margin for intraday trading of up to 20% of the trade value, with a maximum leverage of 5x, depending on the stock. For Upstox F&O intraday trading, the margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. However, no additional margin is offered for Upstox F&O carry forward positions and equity delivery trades.

Upstox Complaint

The number of Upstox customer complaints received by the exchanges. The Upstox consumer complaint report helps understanding the Upstox quality and reliability of service

Frequently Asked Questions

ESPRESSO SHAREKHAN

Espresso, an online discount broking business, was introduced by Sharekhan Limited in 2020 as a direct competitor to online flat fee brokers like Zerodha and Upstox. Espresso is a registered broker with SEBI and holds membership with BSE, NSE, MCX, and CDSL. It offers trading services in Stocks, Equity Derivatives, Currency, and Commodity markets.

When it comes to brokerage charges, Espresso stands out by offering zero brokerage for Equity Delivery trades and on intraday trades that result in losses. They follow a Pay Only When You Profit pricing model. For intraday and F&O trades, a flat brokerage fee of Rs 20 per trade is applied.

Espresso provides margin funding and leverage products, such as MIS and MIS+, which enhance the capacity for Intraday trading in Nifty and Bank Nifty Options. They keep their customers informed about their products and services through the Espressology blog space. Espresso customers also have access to the online Trade Booster Program at a discounted price. Additionally, Espresso customers can enjoy a one-year free subscription to Moneyflix, the world’s first financial movies platform.

To facilitate a seamless trading experience, Espresso offers its own trading platforms: Espresso (Mobile App and Website) and Binge (desktop trading platform), catering to the needs of investors.

Espresso Sharekhan USP

Espresso Sharekhan stands out from the competition in several ways, differentiating itself as a unique offering within the Sharekhan broker (BNP Paribas) ecosystem. Here are some key features that set Espresso apart:

• Part of Sharekhan Broker (BNP Paribas): Being a part of Sharekhan, a well-established and renowned brokerage firm under the umbrella of BNP Paribas, lends credibility and reliability to Espresso’s services. Sharekhan’s expertise and reputation in the industry contribute to the trustworthiness of Espresso as a platform.
• Brokerage-Free Equity Delivery Trades: One of Espresso’s notable advantages is that it provides brokerage-free trades for equity delivery. This means that investors can buy and hold stocks for the long term without incurring any brokerage charges, making it a cost-effective option for long-term investors.
• ‘Pay Only When You Profit’ Model for Intraday Trades: Espresso adopts a unique pricing model for intraday trades, where customers only pay brokerage fees when they make a profit. This model is designed to align the interests of traders with the broker, encouraging profitable trading strategies and reducing costs for traders who may experience losses.
• Pre-IPO Apply Feature: Espresso offers a pre-IPO apply feature, allowing investors to participate in Initial Public Offerings (IPOs) even before the company’s shares are listed on the stock exchange. This feature gives investors an opportunity to invest in IPOs and potentially benefit from early investment opportunities.
• Split Order Functionality for Equity Futures and Options: Espresso provides a split order functionality specifically designed for equity futures and options trading. This feature allows traders to split their orders into multiple smaller orders, enabling more flexibility and precision in executing trading strategies in these derivative segments.

Espresso Sharekhan Charges 2023

Espresso provides commission-free trading for Equity Delivery orders (regular orders) and applies a flat fee of Rs 20 per trade for intraday and F&O trading. With Espresso’s Pay Only When You Profit model, you are exempted from brokerage charges on intraday trades that result in losses.

Note:

• In the event of a loss-making square-off leg in an Intraday trade, Espresso imposes zero brokerage charges, only requiring you to pay the applicable taxes.
• When it comes to Equity Delivery margin orders, Espresso applies a charge of 0.1% or Rs 20, whichever amount is lower.
• Additionally, apart from brokerage fees, you are responsible for other transaction and regulatory charges, Demat charges, as well as other levies imposed by Espresso.
• Other charges levied by Espresso include:
• Auto Square-off charges/Call and Trade Facility: A fee of Rs 50 per executed order is applicable.
• Buyback/NFO/OFS Order Charges: Each order incurs a charge of Rs 20.
• Payment Gateway Charges: There are no charges for fund transfers from Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, and IndusInd Bank. For transfers from other banks, a fee of Rs 9 is levied.
• Physical Document Charges (including Contract Note, ledger statements, CP Client Master form): For up to 10 pages, a fee of Rs 100 is applicable. For 11 pages or more, the charge increases to Rs 250.

Espresso Sharekhan Online Account Opening

Espresso provides a convenient and efficient online account opening process that is simple, instant, and paperless. You can open an account online in just 15 minutes by clicking here. Alternatively, you can download the Espresso Mobile App or register on the company website using your mobile number. Currently, Espresso waives off the account opening fee of Rs 354, and there are no maintenance charges for the first year.

Espresso Sharekhan Trading Software (Espresso Sharekhan Trading Platforms)

Espresso provides its customers with three convenient online trading platforms and a Call and Trade facility for seamless trading experiences.

• Espresso Mobile App: The Espresso Mobile App is a secure and cost-free application that enables trading anytime and anywhere with just a few taps. It is available for both Android and iPhone users, offering a user-friendly interface, voice search tool, Auto margin calculator, advanced charts, quick order placements, market scanners, corporate announcements, and more.
• Espresso Web Platform: Espresso offers a robust and feature-rich trading website accessible through any web browser. It allows trading in Stocks, Equity, Currency, Commodity, and IPOs, providing a comprehensive trading experience.
• Binge (Espresso Desktop Platform): Binge is a downloadable trading terminal designed for professional traders. It offers advanced features such as multiple market scanners, one-click view of indices, real-time price updates, the ability to view and operate six charts with a single click, and more.
• Dial-N-Trade Facility: Espresso also provides a Dial-N-Trade facility, enabling customers to place orders via phone call. This service comes at an additional charge of Rs 50 per order and is particularly useful when access to the trading platforms is not readily available.

With these platforms and facilities, Espresso ensures that customers have diverse options to suit their trading preferences and enables them to trade conveniently across various markets.

Espresso Sharekhan Pros and Cons

Espresso Sharekhan Pros (Advantages)

Here are the benefits of Espresso Sharekhan that you should consider and evaluate before deciding to open an account with them. Understanding the advantages and disadvantages of Espresso Sharekhan will help you determine if it aligns with your investment requirements.

• Equity Delivery trades have no brokerage charges.
• There are no brokerage charges on intraday trades that result in a loss.
• The first year’s Demat Account Annual Maintenance Charges (AMC) worth Rs 400 are waived.
• Access to margin funding facility.
• Enjoy the convenience of instant paperless account opening.
• Receive a complimentary one-year subscription to Moneyflix.
• Choose from a variety of leverage products.
• Access the Online Trade Booster Program at discounted rates.
• Benefit from faster fund transfers.
• Utilize the Split Order feature for Equity Futures and Options.

Espresso Sharekhan Cons (Disadvantages)

Here are the disadvantages of Espresso Sharekhan. Take a look at the list of drawbacks associated with Espresso Sharekhan:

• There is no branch support.
• Call & trade services are available but come with an additional fee of Rs 50 per executed order.
• Espresso Sharekhan does not offer an NRI Trading Account.
• Lifetime free AMC Demat account plans are not available. However, the Demat AMC is free for the first year.
• Espresso Sharekhan does not provide a 3-in-1 account option.

Espresso Sharekhan Margin Exposure

The intraday trading margin offered by Espresso Sharekhan is up to 20% of the trade value, with a maximum leverage of 5x, depending on the stock. For F&O (Equity, Currency, and Commodity) intraday trading at BSE, NSE, and MCX, the margin provided is 1.3x. It’s important to note that there is no additional margin offered for F&O carry forward positions and equity delivery trades with Espresso Sharekhan.

Espresso Sharekhan NRI Account

Espresso Sharekhan does not provide NRI trading and Demat services. However, it’s worth noting that the parent company, Sharekhan, does offer NRI trading accounts.

ESPRESSO SHAREKHAN FAQs

PAYTM MONEY

Established in 2017, Paytm Money Limited, also known as Paytm Money, is a discount broking firm headquartered in Bengaluru. It operates as a wholly-owned subsidiary of One97 Communications Ltd, the parent company behind India’s largest digital goods and mobile platform, Paytm. Paytm is an RBI-approved e-commerce payment system in India.

Paytm Money is a registered stockbroker with SEBI and serves as an Investment Advisor. The company is a member of both NSE and BSE, and holds a depository participant membership of CDSL. Initially, Paytm Money started as a platform for direct mutual fund investments. However, in the late 2020s, the company expanded its offerings to include a pension scheme, equity trading, IPO investments, ETFs, and digital gold. Recently, they have also launched F&O trading services on their platform.

Paytm Money provides competitive charges for trading, including free equity delivery trading. They also offer free mutual fund services, with no charges for investing or redeeming mutual funds.

To facilitate trading activities, Paytm Money offers its own trading platform called Paytm Money, available as a web and mobile app. This platform ensures a seamless trading experience for investors and maintains a high level of security with bank-level data protection. As of December 2020, Paytm Money boasted a substantial customer base of over 6 million users.

As an online discount broker, Paytm Money does not provide stock trading tips or recommendations. However, as a SEBI registered Investment Advisor, they offer advisory services in the form of investment packs consisting of 3-5 mutual funds. Additionally, Paytm Money maintains informative blogs and announcements covering topics related to personal finance, capital markets, latest feature updates, and product launches. These resources aim to enhance investor awareness and assist them in making well-informed decisions regarding their investments.

Key Highlights of Paytm Money

• Free Equity Delivery Trading: Paytm Money offers free equity delivery trading, allowing investors to buy and sell stocks in the cash segment without incurring any brokerage charges.
• Zero Commission Direct Mutual Funds: Paytm Money provides access to direct mutual funds without charging any commission. This means that investors can invest in mutual funds directly, without any intermediary fees or distributor commissions, maximizing their investment returns.
• Maximum Brokerage of Rs 15 per Trade: Paytm Money imposes a maximum brokerage charge of Rs 15 per trade, regardless of the trade value. This ensures cost-effectiveness for investors, especially when trading in larger quantities.
• Zero Maintenance Charges: Paytm Money does not levy any maintenance charges for holding a trading or demat account with them. This helps investors save on additional costs and makes it more affordable to maintain their investment portfolio.
• Fully Digital Account Opening: Paytm Money offers a fully digital account opening process, allowing investors to open trading and demat accounts online without any paperwork or physical documentation. This streamlines the account opening experience and saves time for investors.
• Switch to Direct Mutual Funds: Paytm Money provides a convenient feature that enables investors to switch their existing external regular mutual fund investments to direct mutual funds. This allows investors to take advantage of the benefits of investing directly in mutual funds, such as lower expense ratios and potentially higher returns.
• Diversified Investment Options: In addition to stocks and mutual funds, Paytm Money offers investment opportunities in digital gold, Exchange-Traded Funds (ETFs), Initial Public Offerings (IPOs), Futures and Options (F&O), as well as National Pension System (NPS) retirement funds. This wide range of investment options allows investors to diversify their portfolio and explore different avenues for potential returns.

Overall, Paytm Money provides several attractive features and benefits that make it a compelling choice for investors. From free equity delivery trading and zero commission direct mutual funds to a fully digital account opening process and diversified investment options, Paytm Money aims to offer convenience, cost-effectiveness, and a comprehensive investment experience to its users.

Paytm Money Charges 2023

Paytm Money implements a fixed brokerage model, where it levies a flat fee of Rs 15 or 0.05% (whichever is lower) for each executed order in intraday trading. It’s important to note that the maximum brokerage charge per order, applicable across all trading segments, is Rs 15.

You are also required to pay other transaction and regulatory charges, Demat charges in addition to the brokerage.

Paytm Money imposes various additional charges, which are as follows:

• Annual Platform Fees: Paytm Money levies an annual platform fee of Rs 300. This fee is applicable per annum and is charged for utilizing the platform’s services.
• Physical Statement and Document Charges: If investors require physical statements or documents, Paytm Money charges Rs 300 per request. Additionally, there is an additional fee of Rs 300 for courier services, ensuring safe delivery.
• Payment Gateway Charges (Net Banking): For each fund addition made through net banking, Paytm Money applies a payment gateway charge of Rs 10. This fee is incurred for using the net banking facility to add funds to the trading account.
• Payment Gateway Charges (UPI): However, when investors use Unified Payments Interface (UPI) to add funds to their account, Paytm Money does not impose any charges. This makes UPI fund additions free of cost.
• Auto Square Off Charges: Paytm Money levies an auto square off charge of Rs 20. This charge is applicable when a position is automatically squared off by the system due to insufficient funds or margin.
• Delayed Payment Charges: In case of delayed payment, Paytm Money imposes a charge of 1.5% per month on the outstanding bill amount. This charge is calculated based on the total outstanding bill amount and accrues monthly until the payment is settled.

These additional charges should be considered when using Paytm Money’s services to ensure a clear understanding of the fees associated with various transactions and requests.

Paytm Money Online Account Opening:

Opening an account with Paytm Money is exclusively done online, offering a streamlined, instant, and completely paperless process. The company charges Rs.200 as account opening fees and does not impose any maintenance charges. To initiate the account opening procedure, individuals can either download the Paytm Money mobile app or register on the company’s website and follow the setup instructions. Paytm Money operates primarily as an online broker and does not facilitate offline account opening.

Paytm Money Trading Software (Paytm Money Trading Platforms)

Paytm Money provides its customers with the flexibility to trade through both mobile and web platforms. Investors can seamlessly conduct transactions and switch between the Paytm Money app and website. The company’s robust trading platforms, Paytm Money web and Paytm Money mobile application, enable stockbroking services across various asset classes such as equity, digital gold, IPOs, mutual funds, NPS, F&O, and ETFs. Additionally, Paytm Money offers call and trade services for the convenience of its customers. However, there is no dedicated installable trading terminal available for desktop usage.

Paytm Money Mobile App:

The mobile app of Paytm Money empowers investors to trade anytime and anywhere using their fingertips. Usage of the Cash segment on the trading platform incurs an annual fee of Rs 300. Paytm Money’s mobile app ensures a secure and protected trading experience, offering a range of features such as live market data, customizable watchlists, Stock SIPs, price alerts, market depth information, advanced charts, comprehensive company details, and more.

Paytm Money (Website version):

The Paytm Money website platform is an online web-based trading platform that enables clients to explore various investment options such as stocks, mutual funds, digital gold, retirement funds, and equity derivatives. This user-friendly online trading platform facilitates convenient order placement, transaction tracking, investment in IPOs, and provides a host of additional features and functionalities for investors to utilize.

Paytm Money Pros (Advantages)

Here are the benefits of Paytm Money that you should consider and evaluate before deciding to open an account with them. Understanding the advantages and disadvantages of Paytm Money will help you determine if it aligns with your investment requirements.

• Simple and robust trading platforms.
• Transparent and cost-effective pricing model, with low trading charges. A flat fee of Rs 15 per trade is charged as the maximum brokerage across all segments.
• Instant digital account opening process.
• Direct Mutual Fund platform that allows you to earn an additional 1% returns.
• Option to invest online in digital gold and NPS, in addition to stocks, derivatives, and Mutual Funds.
• Online IPO application facility.
• Mutual Fund Investment Advisory Services.
• Availability of Bracket Order and Cover Order types, providing advanced trading options.

Considering these advantages and disadvantages will help you assess if Paytm Money is suitable for your investment needs.

Paytm Money Cons (Disadvantages)

Here are the drawbacks of Paytm Money that you should be aware of. Take a look at the list of limitations associated with Paytm Money:

• Equity Delivery brokerage is not free, unlike popular brokers such as Zerodha and ProStocks.
• Paytm Money does not provide branch support.
• Margin funding facility is not available on the platform.
• Margin against shares facility is not available for trading.
• Commodity and Currency trading options are not available.
• Advanced order types like GTC (Good Till Cancelled), CO (Cover Order), BO (Bracket Order), and Basket Order are not available on Paytm Money.
• Paytm Money does not offer NRI Trading Account services.
• Unlimited monthly trading plans are not available for investors.

These limitations should be taken into consideration when evaluating Paytm Money as a potential brokerage platform.

Paytm Money Margin Exposure

Paytm Money provides margin facilities for intraday trading, allowing traders to borrow up to 20% of the trade value with a maximum leverage of 5x, depending on the stock being traded. For F&O (Equity, Currency, and Commodity) intraday trading at BSE, NSE, and MCX, the margin offered is 1.3x. It’s important to note that Paytm Money does not provide any additional margin for F&O carry forward positions or equity delivery trades.

Paytm Money Complaint

The exchanges have received a certain number of customer complaints regarding Paytm Money. The consumer complaint report related to Paytm Money Limited provides insights into the quality and reliability of their services.

• The number of active customers reported by the broker.
  ** The total number of complaints received against the broker at the given exchange.

PAYTM MONEY FAQs