ProStocks Review 2022

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ProStocks Investment Options Compare

Here we are comparing ProStocks with its 5 close competitors on investment options.

ProStocks Brokerage Plan, Fees and Charges

ProStocks Account Opening Charges

  »»  Trading Account Opening Charges: Free
  »»  Trading Account AMC: Free
  »»  Demat Account Opening Charges: Free
  »»  Demat Account AMC: Rs 0 (Rs 1000 Refundable Deposit)

ProStocks Brokerage

Whether trading equity delivery or futures and options, ProStocks is quite competitive with its closest discount brokers. They have plans and brokerage structure to suit every investor type.

• ProStocks Rs 15 Flat Fee Plan

  The most popular plan is Rs 15 per executed order to trade in Intraday, Future and Options, and Currency Derivative with Free Equity Delivery. It is well suited for less frequency trader as it allows to pay as you trade.

  Benefits

  • No hidden charges.
  • No volume constraint.

  Considerations

  • Not good for low volume trader as brokerage cannot be lower than Rs15.
  • Competitors are offering free delivery trade, where Prostocks is charging Rs 15 per trade.
  • Compare to other discount brokers like Zerodha, 5paisa, Upstox, company is offering low exposure.

• ProStocks Unlimited Monthly Plan

  Their monthly plan of Rs 899 for trading in equity delivery and derivatives on NSE or BSE looks very economic to trade unlimited in given segments irrespective of volume and number of trades per month. It best suits active traders. It is one of the lowest monthly plans in the Industry.

  The company also offers a monthly plan for Currency Trading @ Rs 499 PM on NSE or BSE.

  Benefits

  • Unlimited trading.
  • No volume restriction.
  • Charge only when you trade in a month.

  Considerations

  • The plan is valid for a specific segment. i.e for equity and currency trading you need to buy two different plans.
  • Limitation on Margin.
  • Limitation on advance order type.
  • Limitation on the exchange you wish to trade. The plan is valid for only one exchange.

• ProStocks Yearly Plan

  There is a yearly plan of Rs 8999 for unlimited equity cash and Equity F&O trading on an exchange and unlimited currency trading on an exchange for a year at Rs 4999. The price is locked for a year and you don't have to pay any brokerage on top of it but other charges will be applied as usual.

• Other Charges

  • Call and trade feature is available at an extra cost of Rs 10 per call for Intraday and F&O, Rs 25 for delivery orders. This is the lowest amount by any discount broker.
  • Digital contract notes are sent via Email. Physical copies of contract notes can be ordered at an additional charge of Rs 20 per contract + courier charges.
  • Instant payment gateway charges for over 20+ banks @ Rs 9 per fund transfer + GST.
  • Rs 10 per executed order for Intraday positions using Intraday squared off by RMS team.
  • DP charges for delivery based equity selling at Rs 8 + Rs 5.5 = Rs 13.50 per transaction.
  • RS 10 + GST charged for buyback, takeover, delisting orders placed through email or phone support.

For complete brokerage charges and trading plans detail please visit ProStocks Brokerage Charges.

ProStocks with closest competitors

Here we are comparing ProStocks with its 5 close competitors, who are currently market leader in brokerage industry.

Broker	ProStocks	5paisa	Zerodha	Upstox	Paytm Money
Service Type	Discount Broker	Discount Broker	Discount Broker	Discount Broker	Discount Broker
Brokerage Range	Rs 15	Rs 20	Rs 20	Rs 20	Rs 10
Account Type	2 in 1	2 in 1	3 in 1	3 in 1	2 in 1
Equity Delivery	Free	Flat Fee Rs 20	Free	2.5% or Rs 20 whichever is lower	Free
Equity Intraday	Flat Fee Rs 15	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	Rs. 10 or 0.05% whichever is lower
Equity Futures	Flat Fee Rs 15	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	Flat Fee Rs 20	Rs. 10 or 0.02% whichever is lower
Equity Options	Flat Fee Rs 15	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 10
Commodity	NA	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Currency Futures	Flat Fee Rs 15	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	Flat Fee Rs 20	Rs. 10 or 0.02% whichever is lower
Currency Options	Flat Fee Rs 15	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 10
Rating

Please refer unique and accurate ProStocks Brokerage Calculator

Open Trading and Demat Account with ProStocks

For online trading with ProStocks, investor has to open an account. Following are the ways to open an account with ProStocks:

• ProStocks claims 100% online account online process, is among the very few brokers who are providing eKYC process.To Open a online account you need Digital copy of
  1. PAN Card
  2. Aadhar Card
  3. Address Proof
  4. Latest Photo
• Website: http://www.prostocks.com
• Contact Phone Number: +91 22 62 43 43 43
• Contact email: [email protected]
• Corporate Office: Prostocks,
  Sunlight Broking LLP,
  B-50, Pravasi Industrial Estate,
  Goregaon (East),
  Mumbai - 400063

Click here to open an account with ProStocks online.

ProStocks Trading Platform and Tools

ProStocks offers web-based, desktop-based and mobile app-based trading platform to its clients. The broker provides these platforms through NSE NOW. It is available for website version, trading terminal version and as a mobile app for iPhone, Android, iPad, tablet devices, Blackberry, and Java-enabled phones.

• ProStocks Web

  The rich HTML 5 browser-based trading enables you to trade securely using the internet without installing any application on your desktop. It is a very convenient mode of trading with real-time access to news, quotes, and trading. It offers all the features of a desktop terminal within the browser window.

  Benefits

  • Payment gateway to pay-in with HDFC and Yes Bank and payout with 20+ banks.
  • Advanced charts and multi-screen
  • Option to create hot functional key like the desktop version.
  • Secure, reliable and accessible.

  Considerations

  • Missing advance order types – Cover order, Bracket Order.
  • To see holdings, reports and order history, need to click on refresh or update button.
  • Password reset policy is very frequent.
  • The very basic web platform, not matching with current market standards.

• ProStocks Desktop

  This is a fully functional trading terminal allowing fast execution of orders with real-time monitoring. This is a downloadable version of software and exe can be downloaded on your machine. You need admin access to install Prostocks Desktop application.

  Benefits

  • Advance charts with multiple advanced charting tools. Can display real-time six charts on the screen.
  • Options Calculator and in-built Options Strategies.
  • Has AMO feature.

  Considerations

  • Missing MAC version, so apple users have limitations.
  • Missing cover order and bracket order.

• ProStocks Mobile

  This lightweight fully functional trading app is secure, easy to use and compatible with major mobile operating systems like android, iPhone, etc.

For detail review of mobile app and download please visit ProStocks Trading Platform Review.

ProStocks Trading Platform Compare

Here we are comparing ProStocks with its 5 close competitors on Trading Platform.

Final thought about ProStocks

ProStocks is an execution-driven, low-cost, and internet-based firm. The best point about ProStocks is its multiple plans. Monthly and yearly plan is good for traders who wish to do big trades in the market. Flat fee plan is appropriate for Investors. Traders can save a big amount in stamp duty and PCM fee with ProStocks. Company is putting efforts to improve the user experience and will overcome the considerations in the short term.

Reference Topics

ProStocks User Reviews