What is Axisdirect Trade@20 plan?

Axisdirect Trade@20 per executed order is the flat fee brokerage plan offered by Axis Securities for Axis Bank customers by maintaining an Average Quarterly Balance of Rs 75,000 in the linked Axis Bank account in the last quarter. It can also be avail by non- Axis bank customers by paying the plan maintenance charges of Rs 250 per month. The plan is valid for trading only in equities and equity derivatives on NSE and BSE.

What are the hidden charges one need to consider before opting AxisDirect Trade@20 plan?

• Average quarterly balance - Rs 75,000 (for Axis Bank customers)
• Monthly maintenance fee - Rs 250 (for non-Axis bank customers)
• Payment gateway charges- Rs 9 + GST
• Plan modification charges - Rs 500
• Call and trade charges - Rs 20

Points to be noted:

• Customer needs to do one trade per quarter to keep the plan active else move to default fixed brokerage plan.
• The plan is applicable to resident individual & HUF clients only.
• The plan is applicable for online trading and call and trade.
• The plan is applicable for equity and equity derivative segment only. Currency and Commodity trading can be done at default percentage brokerage plan.

Is this plan competitive with discount broker's brokerage charges?

The plan is not at all competitive with discount broker's brokerage plans like Zerodha (Max rs 20 Per Order, Free Delivery Trading), 5paisa (Flat Fee Rs 10 Per Order), SAMCO (Max Rs 20 Per Order), Upstox (Max Rs 20 Per Order, Free Delivery Trading), Prostocks (Max Rs 15 Per Order), Fyers (Max Rs 20 Per Order, Free Delivery Trading). We don’t see any value addition for non-Axis Bank customers as the company is charging a monthly plan maintenance fee of Rs 250 which is Rs 3000 PA. For Axis Bank customer also Minimum Average Quarterly balance requirement of Rs 75,000 does not make any sense to avail such brokerage, where other brokers are not charging any additional fee and margin money.