Choice Broking Vs Prostocks NRI Account Comparison

The side-by-side comparison of Choice Broking and Prostocks NRI Account. Compare Choice Broking Vs Prostocks NRI Account brokerage charges, exposure margin, demat account and AMC. Read Prostocks and Choice Broking NRI Account reviews.

Find out Choice Broking Vs Prostocks which is better NRI Trading Account. See Choice Broking Vs Prostocks which is best NRI Demat Account.

Our Choice Equity Broking Private Limited comparison with Prostocks highlights the major differences between two brokers. Find the best between Choice Broking and Prostocks NRI Account.

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Choice Broking Vs Prostocks

  Choice Broking Prostocks
 
Choice Equity Broking Private Limited Logo Prostocks Logo
About the Broker Choice Broking is a full-service broker offering online trading and advisory services to NRIs (except for those residing in the USA and Canada). It offers 2-in-1 accounts, combining Demat and trading accounts, to NRIs. The 2-in-1 account enables NR... Know more about Choice Equity Broking Private Limited Prostocks is a flat-fee discount stock broker offering online investing and trading services to Resident and NRI Investors. It offers a 2-in-1 account, combining trading and demat account, to NRIs to trade across equity, derivatives, mutual funds, an... Know more about Prostocks
Account Type NRI Trading NRI Account
Broker Enquiry Open an Online Trading Account with Choice Broking. Leave your contact info and we will get in touch with you. Open an Online Trading Account with Prostocks. Leave your contact info and we will get in touch with you.
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Choice Broking Vs Prostocks Charges

  Choice Broking Prostocks
NRI Account Opening Fees ₹0 ₹0
NRI Account AMC ₹0 ₹0
NRI Demat Account Opening Fees Rs 0 (Free) Rs 0 (Free)
NRI Demat Account AMC Rs 200 or as per plan. (1st year AMC free) Rs 0 (Lifetime Zero AMC)
PIS Account AMC NA NA
RBI approval for PIS (One time) ₹500 + GST ₹500 + GST
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Choice Broking Vs Prostocks NRI Account Brokerage Comparison

Brokerage Plan

  Choice Broking Prostocks
Account Type NRI Trading NRI Account
Equity Delivery 0.50% ₹100 per executed order
Equity Futures 0.03% ₹100 per executed order
Equity Options ₹100 per lot ₹100 per executed order

Other Charges

Contract Note Reporting Charges NA NA
Other Brokerage Charges Demat Account AMC - ₹200 per year
TDS Charges on Long Term Gain (Holding > 365 Days) 11.96% 11.96%
TDS Charges on Short Term Gain (Holding <= 365 Days) 17.94% 17.94%
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Choice Broking Vs Prostocks NRI Account Taxes/Fees

  Choice Broking Prostocks
Securities Transaction Tax (STT)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
Exchange Transaction Charges Check Exchange Transaction Fee
SEBI Charges 0.00005% (₹5/Crore) 0.00005% (₹5/Crore)
Goods and Services Tax (GST) 18% on (brokerage + transaction charges) 18% on (brokerage + transaction charges)
Stamp Duty 0.01% on delivery based turnover and 0.002% on non-delivery based turnover. 0.01% on delivery based turnover and 0.002% on non-delivery based turnover.
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Choice Broking Vs Prostocks NRI Account Exposure Margin

  Choice Broking Prostocks
Equity Delivery 1x 1x
Equity Futures 1x 1x
Equity Options 1x 1x

1x margin means Full SPAN + Exposure margins defined by the exchange across Equity and Derivatives (Equity F&O, currency and commodity) segments. This means the broker does not offer any additional leverage.

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Choice Broking and Prostocks NRI Account Feature Comparison

  Choice Broking Prostocks
3-in-1 Account No No
Automated Trading No
Free Research And Tips Yes No
Other Features
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Choice Broking Vs Prostocks NRI Account Review

  Choice Broking Prostocks
  7 Customer Reviews    Rate Choice Broking 35 Customer Reviews    Rate Prostocks
Fees 4.4 4.6
Brokerage 4.1 4.3
Trading Platform 4.4 2.8
Customer Service 4.0 3.2
Overall Rating Rated 4.1 stars Rated 3.2 stars
Broker Rating Choice Broking is Rated 4.1 / 5 based on 7 customer reviews Prostocks is Rated 3.2 / 5 based on 35 customer reviews
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Contact Broker / Request A Call Back

  Choice Broking Prostocks
Contact Broker
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Choice Broking Vs Prostocks NRI Investment Options

  Choice Broking Prostocks
Stocks Yes Yes
Initial Public Offers (IPO) No No
Mutual Funds Yes Yes
Other Investment Options
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Choice Broking Vs Prostocks NRI Customer Service

  Choice Broking Prostocks
Customer Care Number 022-67079903, 9819545987 +91 22 6243 4343, +91 22 3811 0110
Customer Care Email nri@choiceindia.com sales@prostocks.com
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Choice Broking Vs Prostocks Order Type Offered for NRI Account

  Choice Broking Prostocks
Bracket Order Yes No
Cover Order Yes No
After Market Order(AMO) Yes No
Good Till Cancelled (GTC) Yes No
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Choice Broking Vs Prostocks - NRI Account Advantages and Disadvantages

  Choice Broking Prostocks
Pros
  • Free account opening.
  • Advisory services with access to a wide range of research reports.
  • Convenient Mutual Fund investment through a mobile app or website.
  • Dedicated relationship manager.
  • Prostocks charges a flat fee of ₹100 per executed order which is the cheapest fee charged by any broker in India.
  • Traders can choose from in-house trading platforms or NSE NOW software to trade as per their convenience.
  • Demat and Trading accounts at Prostocks are lifetime AMC free.
  • NRI customer doesn't require separate Custodial Account to trade in Equity F&O. Prostocks is a registered clearing member who can get the CP code for NRI and clear the trades. This offers a huge saving for NRI customers.
Cons
  • Higher brokerage charges when compared to other discount brokers.
  • Do not offer 3-in-1 account services.
  • Do not provide an online account opening facility.
  • Doesn't offer a 3-in-1 account. An NRI has to open an NRI Bank Account before opening a trading and demat account.
  • GTC (Good Till Cancel) and AMO (After Market Order) not available.
Conclusion

Choice Broking is a SEBI registered full-service broker offering trading and advisory services with a 2-in-1 account facility to the NRIs. The company offers online trading platforms to NRI for stock markets and mutual fund investments. Being a full-service broker, the brokerage charges are slightly on the higher side making it a costly broker for the NRIs. The company has a dedicated research team that provides insights on the economy and the markets along with a wide range of research reports to its clients based on its fundamental and technical analyses.

Prostocks offer online trading service at the cheapest brokerage rate to the NRIs. It has partnerships with 5 popular banks in India to offer NRI trading. The free account opening and AMC free demat & trading account is an added advantage for the NRI customers. Prostocks doesn't provide research and advisory service. It suits well for frequent traders who execute 100's of trades daily.

Promo / Offers
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Choice Broking Vs Prostocks - More Reviews

  Choice Broking Prostocks
NRI Trading Review Choice Broking NRI Account Review Prostocks NRI Account Review
Enquire Choice Broking Enquire Prostocks
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