Unlimited Trading @ Rs 899 per month - Prostocks

Unlimited Brokerage Plan & Unlimited Trading Plans Explained

Published on Saturday, July 12, 2014 by Chittorgarh.com Team | Modified on Saturday, October 19, 2019

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Unlimited Brokerage Plan & Unlimited Trading Plans Explained

Online stock trading has changed the trading experience for forever. It made trading convenient, fast, inexpensive and reduced the faulty trade orders placed by brokers on phone. The revolution made by online share trading was capitalized by brokers to reduce the cost of trading at their end. But none of these brokers passed the profits to the customers.

Unlimited Trades & Unlimited Volumes (Fixed Monthly Fee Model)

In the year 2010-11; few young entrepreneurs decided to challenge the traditional brokers. They started offering discount brokerage plans to reduce the brokerage bills up to 90% by leveraging the technology. The concept of 'unlimited brokerage plan' was an innovative plan came from discount brokers.



What is the Unlimited Brokerage Plan (fixed monthly brokerage)?

It's a brokerage plan (for trading in equity, commodity and currency); where broker charges fixed monthly fee for unlimited trading. It offers literally unlimited trades by volume or size of the trade in a month. Unlimited trading plans are like a monthly pass given to the traders for what every they want to do in the stock market.

In this plan, the flat monthly fee is charged per segment. This means you pay a flat fee of ₹2000 (example) for unlimited trading at equity segment (including equity cash, delivery, future & options) or ₹1000(example) for unlimited currency derivative trading.

The monthly brokerage charged per month depends on the broker to broker.


Unlimited trading plan; who is it suitable for?

  • Active traders executing multiple trades across segments including equity, commodity, and currency.
  • High-volume traders; who performing volume trades manually or through algorithms.
  • Penny stock traders executing frequent trades in penny stocks.

The easiest way to find out if unlimited trading plans are suitable to you is looking at your trading history and your future trading plans. Check the monthly fees below and see if you are paying more than this. If your answer is 'yes' then it makes a lot of sense to move to a discount broker for unlimited trading plans.


Unlimited Trading Plan in India

Broker Plan / Schemes Segment Exchange Monthly Fee Catch
ProStocks Monthly Plan Equities & Derivatives BSE, NSE ₹899  
  Monthly Plan Currency Derivatives BSE, NSE ₹499  
  Yearly Plan Equities & Derivatives BSE, NSE ₹8999  
  Yearly Plan Currency Derivatives BSE, NSE ₹4999  
SAS Online Equity Plan Equities & Derivatives BSE,NSE ₹999  
  Commodity Plan Commodity MCX ₹999  
  Currency Plan Currency Derivatives NSE ₹499 NSE Only
Tradeplus F&O Plan Equities & Derivatives BSE, NSE ₹799* (Futures), ₹99* (Options)  
  Commodity Trading Commodity MCX ₹99*(Futures), ₹99*(Options)  
  Currency Trading Currency Derivatives NSE ₹99*(Futures), ₹99*(Options)  

Note: * Tradeplus offers multiple trading platforms. While NSE NOW and Nest Trader are available for free, for INFINI Trading Platform, Tradeplus charges additional software uses fee for Equity Trading @ ₹499 per month, Commodity Trading at MCX @ ₹249 per month and Call & Trade @ ₹1000 per month. Other discount brokers listed above offer the trading software for free.


Benefits of flat fee brokerage plan (monthly brokerage plans)

Some of the benefits discount brokers offering through monthly flat fee brokerage plans in India are listed as below. Please note that these features may vary by the broker to broker.

  • No brokerage charge on trade. Broker only charges a flat monthly fee for unlimited trades.
  • No GST on brokerage. GST of 18% is charged only on the monthly fee paid by customer (i.e. on ₹899 for ProStocks unlimited brokerage plan for equity trading)
  • No software uses charges (Free trading terminals / Free online web-based trading / Free mobile trading software )
  • Zero annual maintenance fee for the trading account.
  • No minimum balance required
  • No commitment for turnover
  • Some brokers have features like the monthly fee is refunded if you do not trade in a particular month.
  • Facility to move to flat 'per trade' fee plans at the beginning of the month. i.e. if you have a 'monthly plan' with ProStocks for ₹899 unlimited equity trading and next month you think you may not do lot trading; you can move to ₹15 per trade plan.

Challenges with discount brokers

  • Like traditional brokers; you still have to pay account opening fee and annual maintenance fee for "demat account". The brokerage account annual maintenance fee is free with almost all discount brokers.
  • One time account opening charges are applicable. The charges vary from ₹250 to ₹750.
  • Margins or exposures are not as high as neighborhood traditional broker.
  • Call & trade and physical copy of contract note cost extra.

Unlimited Trading Brokers List

Following are popular stock brokers in India offering Unlimited trading fixed brokerage plans:

  1. ProStocks
  2. SAS Online
  3. Tradeplus

Conclusion

Unlimited trading plans are the best offering available to frequent traders in India. It allows you to trade without worrying about the brokerage charges on each trade. But most brokers offering unlimited trading plans, do not offer the high leverage.

Top brokers like Zerodha, ICICI, 5paisa, and Sharekhan do not offer unlimited trading plans.

We recommend every trader to try ProStocks unlimited monthly plans. There trading platform and services are very competitive. Traders can literally save 80% to 90% brokerage cost with these plans.

FAQ's

  1. 1. Does an unlimited trading plan in India really offer unlimited trading?

    Yes, these plan offers literally unlimited trades in given segments and month. You just don't have to worry about the number of trades or size of trades as they offer unlimited trades and unlimited volumes for the fixed monthly fee.

    With fixed monthly fee model you don't have to worry about how many trades you place during a particular month. Also, you never need to worry about how large or small your trade size is.

    Discuss this question

  2. 2. Does unlimited trading plan come with hidden charges?

    This is partially true and that's the reason it's important to choose the right broker. With ProStocks unlimited trading plans; except taxes; you don't have to pay any other charges.

    Discuss this question

  3. 3. I am on Unlimited Trading Plan. I am not planning to trade this month. Do I still have to pay the monthly fee?

    It depend on the broker to broker. A discount broker like ProStocks doesn't charge the monthly fee if you don't make any trade in the given calendar month; even though you are registered to an unlimited trading plan.

    Discuss this question

  4. 4. I am on Unlimited Trading Plan. How my taxes are calculated on my brokerage account?

    The biggest saving with these plans is the saving on taxes. The GST and other taxes are only charged on the monthly fees you pay (i.e. service tax only on monthly fee i.e. on ₹899)).

    For example:

    ProStocks charges flat monthly fee + 18% GST. If you take Monthly Equity Plan for unlimited Equities & Derivatives Trading; the cost of the plan is ₹899 and additionally ₹161.82 is charged as the tax on fixed brokerage.

    Discuss this question

  5. 5. Why all brokers do not offer unlimited trading?

    Each broker is different in terms of offering and pricing plans. Here is some detail about popular brokers:

    • Upstox (RKSV) Unlimited Plan was discontinued in year 2015. They do not offer Upstox (RKSV) Monthly Trading anymore. Upstox (RKSV)'s new brand also do not offer UpStox Flat Rate Trading Plans.
    • Zerodha, the popular discount broker also doesn't offer Zerodha Fixed Monthly Plan. For Zerodha customers, Zerodha Unlimited Trading is not an option. Zerodha charge flat Rs 20 per trade.

    Discuss this question

  6. 6. How much is Unlimited trading monthly fee?

    The unlimited trading plans offer literally unlimited brokerage free trading in the given segment for a month for a fixed monthly fee.

    There are few stock brokers who offer an unlimited trading plan in India. Following the list of unlimited trading brokers and their charges:

    Unlimited Trading Monthly Fee (Fixed Brokerage)

    Broker Plan Name Segment Exchange Fixed Charges
    ProStocks Monthly Plan Equities & Derivatives BSE, NSE ₹899 per month
      Monthly Plan Currency Derivatives BSE, NSE ₹499 per month
    SAS Online Equity Plan Equities & Derivatives BSE, NSE ₹999 per month
      Commodity Plan Commodity MCX ₹999 per month
      Currency Plan Currency Derivatives NSE ₹499 per month
    Tradeplus F&O Plan Equities & Derivatives BSE, NSE ₹799 (Futures), ₹99 (Options)
      Commodity Trading Commodity MCX ₹99 (Futures), ₹99 (Options)
      Currency Trading Currency Derivatives NSE ₹99 (Futures), ₹99 (Options)

    Discuss this question

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2 Comments

Ajay
2. Ajay  Jul 22, 2015 17:49 Reply
Good article...but after reviewing your website I found that Achiievers is charging Rs.50/- per day for unlimited trade...is it so???
Raghu
2.1. Raghu  Oct 25, 2017 17:52
Yes unlimited trading is good because we some times do unlimited number of trades myn will be some times 200 and the best are pro stocks sas online trade plus. These are the real brokerage firms and zerodha share khan will charge more than ur profit per day
siv
1. siv  Apr 17, 2015 22:27 Reply
very nice article giving all info.....




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