| Why Open Account with Prostocks? | |
| 1 | Stamp duty is capped at Rs50 hence lower breakeven cost |
| 2 | Availability of flexible brokerage plans to suit customer preference |
| 3 | Account opening and AMC charges are Zero |
| 4 | Fully online method of account opening through Aadhaar |
| 5 | Lower Call and trade charges and transaction charges |
 |
|
| Disadvantages of Prostocks | |
| 1 | Commodity trading is not offered |
| 2 | Margin provided by the broker is low compared to others |
| 3 | Mobile trading app need to be improved |
| 4 | It is not a 3-in-1 demat account |
In this Prostocks review, I will talk about their background, brokerage charges, trading platforms and any other charges associated with the account.
About Prostocks:
Prostock entered the discount broking industry lately and by that time most of the start ups like Zerodha and Upstox have established themselves.
However it is still giving tough competition to the major players which I mentioned above. Based out of Mumbai, Prostocks was founded in February 2016 and it is a Sunlight Broking LLP venture.
Following segments are serviced by Prostocks,
- Equity
- Derivatives
- Currency
- Depository Services
- Mutual Funds
- NRI Trading
The main USP of Prostocks is lower Stamp charges. The maximum stamp charges is Rs 50 and it is the lowest compered to other stock brokers.
The trading account can be opened completely online using the Aadhaar card and uploading the documents.
As on date, the discount broker has more than 2000 active client base.
Prostocks Brokerage Charges:
The discount broker has multiple brokerage plans and one can choose any one of these to suit their trading style.
- Trade Level
- Monthly Level
- Yearly Level
Prostocks Brokerage Charges for Trade Level:
| Segment | Brokerage Charges |
| Equity Delivery | Rs 15/Order |
| Equity Intraday | Rs 15/Order |
| Equity Futures | Rs 15/Order |
| Equity Options | Rs 15/Order |
| Currency Futures | Rs 15/Order |
| Currency Options | Rs 15/Order |
| Min Brokerage | Zero |
| Demat AMC Charges | Zero |
| Trading AMC Charges | Zero |
Prostocks Brokerage Charges for Monthly Level:
| Segment | Brokerage Charges |
| Equity Delivery | Rs 899/month |
| Equity Intraday | Rs 899/month |
| Equity Futures | Rs 899/month |
| Equity Options | Rs 899/month |
| Currency Futures | Rs 499/month |
| Currency Options | Rs 499/month |
With above plan, one can trade unlimited for period of one month.
Prostocks Brokerage Charges for Yearly Level:
| Segment | Brokerage Charges |
| Equity Delivery | Rs 8999/month |
| Equity Intraday | Rs 8999/month |
| Equity Futures | Rs 8999/month |
| Equity Options | Rs 8999/month |
| Currency Futures | Rs 4999/month |
| Currency Options | Rs 4999/month |
With above plan, one can trade unlimited for period of one year.
Account Opening Charges:
- Trading Account opening charges: Zero
- Demat Account opening charges: Zero
- Trading Account Annual Maintenance charges: Zero
- Demat Account Annual Maintenance charges: Zero
Prostocks Trading Platforms:
The discount broker has developed their own in house trading platform. Any issues with the platform can be so lved by its technical team.
However, they also offer third party platforms like NOW which is from National Stock Exchange (NSE). One has the choice to choose any of the platform.
Prostocks Desktop:
It is a terminal based trading platform developed in house. One need to download and install the application to their desktop/laptop. The software can be downloaded from their website.
It is best suited for traders who would like to place the orders quickly.
Some of the salient features of Prostocks Desktop are,
- 6 different charts with realtime updates at various time frame like, intraday, minute, hour, day, week , month, half yearly and yearly
- More than 150 technical studies available for intraday trading
- Alerts with customization can be set for price and percentage based triggers
- Any number of scrips can be added to the market watch
Prostocks Web:
As name suggests, it is a browser based trading platform. Hence it can be accessed from anywhere without installing any software. However it is slower than the desktop version.
Some of the salient features of this trading platform are,
- Order can be placed directly from the charts
- Enhanced security with multi level authentication
- Fund transfer is possible though the platform itself
Prostocks Mobile App:
They provide the mobile app for Android and iOS platforms. It was introduced recently hence lot of improvements are still required. The internet bandwidth consumption seems to be very high.
It comes with lot of features such as,
- Watchlists
- Real lime market updates
- Order and trade report
- Market watch
NSE NOW:
As mentioned above, user has the choice of not to choose any in house platforms. They are allowed to use NSE NOW . And at the same time, Prostock does not have control over NOW. Any issues with the platform can not be addressed by the broker.
Prostocks Contact Details:
Registered Office :
Sunlight Broking LLP
146, Center point, Near Somnath
Dabhel, Nani Daman,
Daman (UT) 396210
Mumbai Office:
B-50, Pravasi Estate
Goregaon (Est)
Mumbai – 400063
Prostocks Pros and Cons:
Disadvantages of Prostocks:
- Commodity trading is not offered
- Margin provided by the broker is low compared to others
- Mobile trading app need to be improved
- It is not a 3-in-1 demat account
Advantages of Prostocks:
- Stamp duty is capped at Rs50 hence lower breakeven cost
- Availability of flexible brokerage plans to suit customer preference
- Account opening and AMC charges are Zero
- Fully online method of account opening through Aadhaar
- Lower Call and trade charges and transaction charges
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