ProStocks Overview
ProStocks is a SEBI-registered stock broker and depository participant offering online trading at BSE and NSE. Known for its competitive pricing and innovative trading plans, ProStocks caters to both casual investors and active traders. Here’s an in-depth look at their offerings:
Account Types
ProStocks offers two main types of accounts to suit different trading needs:
Unlimited Trading Plan
The unlimited trading plan offers unlimited trading in equity and derivatives for a fixed monthly fee. This plan is ideal for frequent traders looking to save on brokerage costs.
Flat Fee Trading Plan
The flat fee trading plan charges a fixed fee per trade, regardless of the trade size. This plan is suitable for casual investors and traders who do not trade frequently.
ProStocks Charges 2024
ProStocks offers competitive pricing with no account opening charges and no AMC for the Demat account. Here are the details of their charges:
Trading Account Opening Charges
ProStocks does not charge any fee for opening a trading account.
Demat Account Opening Fee
ProStocks does not charge any fee for opening a Demat account.
Demat Account AMC
ProStocks does not charge any annual maintenance fee for the Demat account. However, there is a one-time refundable deposit of Rs 1000.
Brokerage Charges
ProStocks offers low brokerage charges compared to traditional brokers. Here is a comparison of their brokerage charges:
| Segment | Flat Fee Plan | Unlimited Plan |
|---|---|---|
| Equity Delivery | Rs 15 per trade | Rs 0 per trade |
| Equity Intraday | Rs 15 per trade | Rs 0 per trade |
| Equity F&O | Rs 15 per trade | Rs 0 per trade |
| Currency F&O | Rs 15 per trade | Rs 0 per trade |
Transaction Charges and Taxes
ProStocks charges transaction charges and taxes as per the regulatory requirements. Here is a breakdown of these charges:
| Segment | Transaction Charges | STT | GST | SEBI Charges | Stamp Duty |
|---|---|---|---|---|---|
| Equity Delivery | NSE: Rs 335/Cr, BSE: Rs 375/Cr | 0.1% on both buy and sell | 18% on (Brokerage + Transaction Charge) | 0.0001% (Rs 10/Crore) | 0.015% (Rs 1500 per crore) |
| Equity Intraday | NSE: Rs 335/Cr, BSE: Rs 375/Cr | 0.025% on sell side | 18% on (Brokerage + Transaction Charge) | 0.0001% (Rs 10/Crore) | 0.003% (Rs 300 per crore) |
| Equity F&O | NSE: Rs 200/Cr | 0.0125% on sell side | 18% on (Brokerage + Transaction Charge) | 0.0001% (Rs 10/Crore) | 0.002% (Rs 200 per crore) |
| Currency F&O | NSE: Rs 90/Cr, BSE: Rs 25/Cr | No STT | 18% on (Brokerage + Transaction Charge) | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10 per crore) on buy-side |
Trading Software
ProStocks offers three trading applications to cater to different types of traders:
ProStocks Desktop
ProStocks Desktop is an installable trading terminal designed for frequent traders who need professional trading tools and real-time data.
ProStocks Web
ProStocks Web is a browser-based trading platform for casual investors, providing easy access to trading tools from any internet-connected device.
ProStocks Mobile
ProStocks Mobile is a mobile trading app designed for traders who trade on the go. It is compatible with Android and Apple devices.
Pros and Cons of ProStocks
Here are the key advantages and disadvantages of trading with ProStocks:
| Pros | Cons |
|---|---|
| Cost-effective unlimited and flat-fee plans | No integrated 3-in-1 account |
| Lowest transaction charges in the industry | Commodity trading not yet available |
| Positive customer feedback on service | Limited to BSE SME IPOs |
| Direct IPO application | |
| Advanced trading platform for all devices | |
| Seamless transactions with 2-in-1 account | |
| Lifetime free AMC for Demat with deposit | |
| Referral benefits of 10% brokerage |
Margin and Leverage
ProStocks offers competitive margin and leverage for different trading segments:
| Segment | Margin Requirement | Leverage |
|---|---|---|
| Equity Delivery | 100% of trade value for T+5 days | 1x |
| Equity Intraday | Up to 20% of trade value | 5x |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin (Span + Exposure + Delivery margin) | 1x |
Customer Complaints and Ratings
ProStocks has received positive feedback from customers, with low complaint rates and good ratings:
Complaints
ProStocks has received very few complaints, indicating a high level of customer satisfaction:
| Financial Year | Number of Clients | Complaints | % Complaints |
|---|---|---|---|
| 2024-25 | 6,651 | 2 | 0.03% |
| 2023-24 | 6,651 | 1 | 0.02% |
| 2022-23 | 5,899 | 7 | 0.12% |
| 2021-22 | 5,646 | 5 | 0.09% |
Ratings
ProStocks has received good ratings from customers in various aspects:
| Aspect | Rating |
|---|---|
| Overall Rating | 3.3/5 |
| Fees | 4.6/5 |
| Brokerage | 4.2/5 |
| Usability | 2.9/5 |
| Customer Service | 3.2/5 |
| Research Capabilities | 2.0/5 |
Special Offers
ProStocks offers special trading plans and benefits to its customers:
- Unlimited Monthly Trading Plan: Rs 899 per month for unlimited trading in equity and F&O.
- Flat Fee Trading Plan: Rs 15 per trade + Brokerage-Free Equity Delivery + Lifetime Free AMC Demat Account.
Account Opening
ProStocks offers a seamless, 100% online account opening process with no need for physical paperwork. You can open an account quickly using your PAN number and Aadhar card.
