Prostocks is one of the best discount brokers in India to execute high-volume trades, especially if you are an everyday investor willing to enjoy a safe and quick trade experience. Prostocks came under Sunlight Broking LLP and was founded in 2016. It has become one of the fastest-growing discount brokerage firms with the lowest brokerage charges.
The platform offers two monthly plans for its customers. With its monthly trading plan that starts from Rs 899, you get unlimited trades with zero brokerage. If you want to participate in equity delivery, equity intraday, equity derivatives, or currency trades in NSE or BSE, this discount broker can be ideal. It offers a 2-in-1 account that would be enough to have convenient trading.
Read this Prostocks review blog to know its advantages, disadvantages, brokerage charges, and more.
Prostocks Brokerage Plans
This stock broker has two plans for its customers: Truly Unlimited & Flat Fee.
Truly Unlimited Plan
In this plan, you pay a monthly fee of Rs 899 for equity and F&O and Rs 499 for currency to conduct an unlimited number of trades with zero brokerage. Moreover, it has a yearly plan, which is available at Rs 8999 for equity and Rs 4999 for currency trades.
Flat Fee Plan
If you don’t need an unlimited plan, you can select its regular plan, where you need to pay Rs 15 per executed trade, and the charges are the same for all segments of NSE and BSE.
Prostocks Account Opening Charges
- It does have any fee for Trading account opening and its maintenance charges.
- The platform also does not charge any fee for Demat account opening.
- The Demat annual maintenance charges are free if you pay Rs 1000 as a refundable deposit.
Prostocks Brokerage Charges
- Prostocks charges Rs 15 per trade or Rs 0 (in an unlimited plan) for equity delivery.
- It has Rs 15 per trade or Rs 0 (for the unlimited plan) for equity intraday and F&O.
- The platform has Rs 15 per trade or zero brokerage on currency F&O.
- I charge Rs 10 per trade for call and trade intraday trades.
- The platform deducts Rs 9 as a fund transfer fee.
- It charges Rs 20 flat for every debit transaction through its platform.
Prostocks Stock Trading Platforms
This discount broker has provided its customers with many stock trading platforms, free for all customers using its broking services. Below we have mentioned its stock trading platforms that you can use and participate in stock trading activities.
It’s a browser-based stock trading platform launched by Prostocks for its customers to help them seamlessly access its financial products and services. It is an ideal platform for casual investors and traders willing to participate in various trading activities. You can use most of the services from this single platform and keep yourself current with the latest news and research-based reports.
Desktop Trading Terminal
Prostocks has developed an installable trading terminal for regular customers who participate in frequent trades. You can use this trading terminal on your desktop and access the real-time charting feature, access multiple markets, and use live streaming for further trades. The platform is very powerful and efficient that may help you conduct trades effortlessly.
If you prefer to participate in the stock market from a mobile app, you can install its Prostocks app from App Store or Play Store. This app is available for Android and iOS mobile users and guarantees a simple, secure, and smooth trading experience.
How to Open Demat Account on Prostocks?
You need to follow the below-mentioned steps to open your Demat account with Prostocks.
- First, visit the official website of Prostocks from your desktop or mobile.
- Click on the “Open Account” option and complete account registration.
- While registering, you will be asked to verify your mobile by OTP.
- Finish the account registration, add PAN and other details, and verify them.
- Provide other information like marital status, nationality, gender, and other things asked in the form.
- Add your bank account and cross-check your financial details, including the IFSC code of your bank.
- Select the account plan and make the payment for that.
- Upload other documents to complete the account creation and KYC process.
Once you complete the steps mentioned above and fill in the details correctly, the Prostocks team will open your account shortly. They share login credentials over email; thus, make sure to enter the correct details.
Advantages of Prostocks
Prostocks offer many advantages for its regular customers, such as mentioned below.
- It provides a monthly trading plan of Rs 899 for equity and equity derivatives and Rs 499 for currency trades. These monthly trading plans look quite affordable than other discount brokerage firms like Zerodha. It also has Rs 15 per trade brokerage charge for casual stock traders.
- The platform guarantees the lowest transaction charges because it does not charge any PCM fee.
- It charges Rs 10 per trade for call & trade services, whereas other discount brokers like Zerodha charges Rs 20 per trade.
- Prostocks also provide an easy and convenient IPO investing option.
- It charges Rs 1000 as a refundable deposit for AMC.
- Its website, trading terminal, and mobile apps are free for all traders and investors.
- The platform provides a 10% brokerage referral to its customers.
Disadvantages of Prostocks
The Prostocks trading platform has some disadvantages, such as mentioned below.
- It does not offer a 3-in-1 account because it does not provide the customer with any savings account.
- You don’t have any commodity trading options with this trading platform.
- There is only a BSE IPO investing option available, not for NSE IPOs.
Prostocks is one of the best discount brokers in India that charges very low brokerage and service fees from its users. It has an advanced, secure, and feature-rich trading platform for all users to help them conveniently perform trading activities to make the most of the trading opportunities. This trading platform also has a research and news section to keep you updated with the latest financial market news. Moreover, its trading terminal is freely available, and you can access crucial information to make effective trading strategies.