ProStocks is established very recently in February 2016. It belongs to the category of discount broker and offers fixed brokerage per executed order. If you are new to market and not sure about the types of brokers and want to know about some of the reputed stock brokers of India, we advice you to visit this article.
ProStocks is one of the very few discount brokers who offer unlimited trading for fixed monthly fee. The plan includes Rs 899 per month trading plans which offers unlimited equity and equity derivatives trading at NSE or BSE. ProStocks also offer Rs 499 monthly trading plan for unlimited monthly trading in currency derivatives trading..
Service offered by Prostocks
ProStocks is member of NSE, BSE and CDSL. The products offered by ProStocks include:
- Equity Trading
- Equity Derivatives (F&O) Trading
- Currency Derivatives (F&O) Trading
- Demat Account
- NRI Trading
ProStocks offers 2-in-1 account which includes a trading and demat account. The 2-in-1 account offers seamless transactions between the two accounts.
ProStocks Brokerage Charges
1. Flat Fee Plan (Rs 15 Plan)
Pay flat Rs 15 per executed order in any segment (Equity, Equity Derivatives and Currency) regardless of the size of the trade.
This plan is best suitable for casual traders and investor who trade few times a month. The brokerage charge of Rs 15/trade is slightly higher than the Rs 9/trade offered by SAS Online
2. Unlimited Monthly Trading Plan
Pay Rs 899 per month for unlimited trading in equity and equity derivative segment at NSE or BSE. For currency trading, it is priced at Rs 499.
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3. Unlimited Yearly Trading Plan
They also have yearly plans for unlimited trading. Rs 8999 per year for equity and equity derivatives on NSE or BSE. Rs 4999 for unlimited trading in currency segment.
ProStocks Account Opening Fee and AMC
- Trading Account Opening Fee (One Time): Rs 300
- Demat account Opening Charges (One Time): Rs 300
- Trading Account AMC: Rs 0
- Demat Account AMC: Rs 0 (with Rs 1000 one time refundable deposit)
Prostocks Trading Platform & Tools
A website based trading application offers trading on any computer installed with a browser.
ProStocks Mobile App
An Android and iOS mobile trading app for people who trade on the go.
Installable trading terminal for traders loaded with streaming quotes, charts and shortcut keys.
Advantages and Disadvantages of Prostocks:
- Lower call and trade charges
- Lower brokerage compared to established brokers such as Zerodha and RKSV
- Monthly and Yearly brokerage plans
- No service is offered in IPO and commodities
- Margin provided is less compared to others
- Single office located at Mumbai
- No 3-in-1 demat account
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