Published on Tuesday, August 16, 2016 by Chittorgarh.com Team | Modified on Friday, January 6, 2017
ProStocks a Mumbai India based Flat Fee Discount Stock Broker. ProStocks is among the most transparent, technologically advanced and cheapest online stock broker in India.
ProStocks offers trading in Equity, Equity Derivatives and Currency Derivatives at NSE and BSE. They offer free mobile, desktop and website based trading applications. They also offer call & trade for people who prefer to place orders on call though dealers.
ProStocks NRI Trading services offers online stock investment and trading for NRI, NRO and PIO customers.
Here are 10 reason you should choose ProStocks over any other traditional or discount brokers in India:
ProStocks offers 5 different trading plans to choose from. The Rs 15/trade plan is the base plan suitable for casual investors. The Rs 899/month unlimited equity trading plan is the perfect plan for high frequency traders.
The competitors like Zerodha and RKSV doesn't offer fixed monthly plans.
Just because they charge less brokerage doesn't mean you get inferior service. The ProStocks customer service is way better than most tradition and discount brokers.
Unlike most stock brokers in India, ProStocks do no change clearing charges from customers. PCM fee is usually charged along with the exchange transaction charges.
Except customer from Maharashtra, all other customers pay stamp duty at 0.01% (Max Rs 50 per day). All ProStocks contracts are executed at its registered office at Union Territory of Daman and Diu.
This it-self is a big saving for most of the traders as with other brokers you pay. For example if you are Tamilnadu customer and a trade for 1, at the rate of 0.006% stamp duty, you will end up paying Rs 600 with other brokers while you pay just Rs 50 with ProStocks.
ProStocks offer zero annual maintenance charge demat account when you pay onetime refundable deposit of Rs 1000 at the time of account opening. Most other brokers charge Rs 300 to Rs 1000 AMC.
ProStocks charge call & trade fee of Rs 10 per executed order. This is among lowest in discount brokerage industry.
All trading software including installable trading terminal, website and mobile trading app is available for free to all the customers. The ProStocks trading platform is the latest and best trading platform in India.
Technical charts and live streaming quotes are available free of charge to all customers.
Unlike most of the discount brokers in India, ProStocks is not involve in proprietary trading.
The proprietary trading is the trading done by the company or broker for themselves to make a profit for itself. This significantly increase the risk for the money you put with the broker for trading.
While the broker talks about using their own money to do the prop trading, it's actually not 100% true. While they manager end-of-day margin requirement from exchange, in the day time they still use the money deposited by customer to play with.
Refer a friend to ProStocks and get 10% of brokerage paid by your friend. The money get automatically credited in your account. If you refer 10 of your friend who trades in the same capacity as you, you get enough money to pay your brokerage bill.
You can refer as many as friends or family members you want.
Account opening with ProStocks is really easy as its 100% online if you have Aadhar Card. Their account opening process is well integrated with eKYC, Aadhar card database and digital signature services.
For most customers, the account opening process is 100% paperless. After your PAN Number, Aadhar number and mobile number is validated, you can upload required documents online and account will be opened in just few minutes. You do not have to print or sign documents.
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