Indiabulls Stock Trading, Demat, Brokerage and Reviews 2020


-3.83% 43,688 Clients

Indiabulls Shubh is a discount stock broker offering ultra-low brokerage plans. Indiabulls is among the best stock broker in India with offering including unlimited trading plans, free trading platforms, free call & trade, free research and zero interest margin funding.

Indiabulls Shubh is an offering of Indiabulls Ventures Ltd, one of the oldest stock brokers in India serving customers since the year 2000. Indiabulls Ventures serves over 7 lakh customers with a dedicated sales team of more than 900 individuals across 18+ cities. It is part of Indiabulls Group, a leading financial service provider with businesses spread across many sectors including Infrastructure, Power, Real Estate and Financial Services.

Indiabulls Ventures provides integrated capital market-related services including Stock Broking, Equity Research, Demat Account, and Margin Funding.

In 2019, Indiabulls re-launched its online trading services under Indiabulls Shubh brand. Indiabulls Shubh is designed for a growing number of tech-savvy customers who feels comfortable trading online with limited support from the broker.

Indiabulls Shubh

Indiabulls Shubh is a discount broking platform offering subscription-based plans for unlimited trading. Indiabulls customer can choose from a range of fixed monthly trading plans (Zero brokerage on the transaction) on both Intraday and Delivery. Along with zero brokerage, it also offers Zero Interest Charges on Margin Funding.

Indiabulls customer can subscribe to these unlimited trading plans at as low as Rs 1000 per month. They can trade unlimited without worrying about the brokerage on each trade.

Key Highlights of Indiabulls Shubh

  • Truly zero brokerage on Equity, F&O, and Currency trading at BSE and NSE. Pay only monthly fixed charges starting from ₹1000 per month.
  • Zero Interest in Margin Trading Facility. The interest-free margin fund amount based on the plan you choose.
  • Transparent Fee structures. No hidden fees.
  • Intraday Exposure: 2X in F&O 5X in Equity Cash Segment & up to 4X for Margin Trading
  • Risk free trial - Free for 1st 30 days for new accounts

Paperless Account Opening

The Shubh App & web platforms offer online paperless account opening. To open an account online, you could download the Shubh App available on Android & iOS and open the account in just a few minutes.

Note that the Shubh Unlimited Trading is available for free for 1st month. The new customer doesn't have to pay a monthly subscription plan for 1st month.

Indiabulls Special Offers

Limited Time Offer - FREE Unlimited Trading for 1st Month (₹1000 waived)

Open Indiabulls Online Trading Account and get Free Unlimited Trading for 1st month. Trade Unlimited at ₹1000/month or Trade at flat ₹15 per executed order.

Get this limited time offer

Indiabulls Charges 2020

Indiabulls Account Opening Fees

TransactionFees
Trading Account Opening Charges₹500
Trading AMC₹0
Demat Account Opening Charges₹0
Demat Account AMC₹450

1. Unlimited Trading Plans

Indiabulls Shubh offers monthly unlimited trading subscription plans in Equity, F&O, and Currency segments. Below are 2 plans available:

  • F&O plans

    Unlimited trades in Equity and Currency derivative segment at a monthly fee of ₹1000.

  • Equity plans

    Unlimited trades in equity delivery & intraday with 5X intraday exposure. Choose from multiple plans starting at ₹1000 per month.

    Indiabulls Equity Unlimited Trading Plans

    Plans

    Monthly Fee

    Margin Funding at Zero Interest

    1

    ₹1,000

    ₹0

    2

    ₹2,000

    ₹1,00,000

    3

    ₹3,000

    ₹2,00,000

    4

    ₹5,000

    ₹3,25,000

    5

    ₹7,500

    ₹5,00,000

    6

    ₹10,000

    ₹6,50,000

    7

    ₹12,500

    ₹8,50,000

    8

    ₹15,000

    ₹10,00,000

    9

    ₹20,000

    ₹12,50,000

    10

    ₹25,000

    ₹15,00,000

    11

    ₹30,000

    ₹17,50,000

    12

    ₹35,000

    ₹20,00,000

    13

    ₹45,000

    ₹22,50,000

    14

    ₹50,000

    ₹25,00,000

    15

    ₹100,000

    ₹50,00,000

Note:

  • Customer moved to base brokerage plan (₹15 per trade) if they don't upgrade to the unlimited trading plan.
  • Margin against share is not available in the subscription plan.
  • Bracket Order and Cover Order is not available.
  • Customers can choose to upgrade the trading plan anytime through Shubh app. Both 'Upgrade Now' and 'Upgrade on Expiry' options are available.
  • In case of downgrading the plan, the plan gets downgraded once the existing plan expires.
  • Customer can choose 'Auto-Renewal' feature which helps you automatically renew your trading plans.

2. Base Plan (₹15 per trade)

By default, Indiabulls customers are charged ₹15 per trade across the segments. Customers, whose monthly unlimited trading plan subscription expires, moved automatically to the default plan. The default brokerage charges are:

  • Equity Cash (Delivery): Free (No brokerage)
  • Equity Intraday: ₹15 per executed order (buy and sell are considered as 2 orders)
  • Equity F&O: ₹15 per executed order
  • Currency F&O: ₹15 per executed order

Note:

  • Margin funding is available at an additional 12% interest.
  • Minimum Brokerage is charged at ₹15 in Equity Intraday, Equity F&O, and Currency F&O.
  • Margin against share is available.
  • Bracket Order and Cover Orders are available.

Indiabulls Demat Charges

TransactionCharges (Account with POA)
Stamp Paper ChargesNil
 
Annual Maintenance Charges (AMC)
1. AMC Charges for Basic Services Demat Account (BSDA)
Value of holdings up to ₹50,000Nil
Value of holdings between ₹50,001 to ₹2,00,000₹100
 
2. Normal AMC Charges (inclusive of GST)
Individual₹450
Corporate₹1000
 
Custody ChargesNil
Transaction Charges (Buy)Nil
Transaction Charges (Sell)₹10 per Transaction or .02% of the transaction value (whichever is higher)
Off-Market Transactions₹15 or .02% of the transaction value (whichever is higher)
Failed InstructionNil
Pledge Creation/Confirmation/Closure/Invocation₹25 or .02% of the transaction value (whichever is higher)
DEMATRe. 1 per certificate (max ₹250) + ₹25 courier charges
DEMAT Rejections₹20 per rejection + ₹25 courier
REMAT ChargesA fee of ₹15 for every 100 securities or part thereof. OR A flat fee of ₹15 per certificate, whichever is higher.
Delivery Instruction BookNil

Visit Indiabulls Brokerage Charges Review for more detail.

Special Offer: FREE Unlimited Trading for 1st Month (₹1000 waived) Get the offer

Indiabulls Trading Software

Indiabulls customer can choose from a range of options available to trade.

  1. Trading via Mobile & Desktop

    Indiabulls customers can choose to trade through our Shubh Mobile App which is available on Andriod and IOS or trade using desktop.

    Shubh Mobile

    The Mobile Trading Platform of Indiabulls allows Trade in Equity, Access to Real-Time Stock Quotes and Market Research Reports, Customized Alerts and Messages, View Margin Report and Trading Account Summary, etc. It allows you to trade anytime from anywhere.

    Shubh Web

    Indiabulls trading website allows its customers to place orders online, track transactions, invest in IPO's and Mutual Funds, Transfer Funds, Track Portfolio, and access research reports and news. They also offer various useful features such as streaming stock quotes, online payment gateways, portfolio tracker, extensive research reports, IPO, live market news & real-time market statistics

    Power Indiabulls (PIB)

    PIB is installable trading terminal designed for high-frequency traders and advanced traders. Live Market News, Tic by Tic Live Intraday Charts, Technical Analysis are few key features available in PIB.

  2. Trade on the Call:

    At any point in time Indiabulls customers can use 'Phone Trading Facility' by calling on the central dealing desk to place trading orders. The Indiabulls Call & Trade Facility is made available for free to charge to all its customers.

 

Visit Indiabulls Trading Software Review for more detail.

Contact Indiabulls / Request Call Back

FREE Unlimited Trading for 1st Month (₹1000 waived) Get the offer

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Indiabulls Pros and Cons


Indiabulls Pros (Advantages)

The following are the advantages of Indiabulls. You must read Indiabulls advantages and disadvantages before opening an account with Indiabulls. Indiabulls pros and cons help you find if it suits your investment needs.

  • Brokerage free equity delivery trades to all the customers.
  • Offer fixed monthly unlimited trading plans starting from ₹1000 per month.
  • Interest-free margin funding. The amount varies with the unlimited plan you choose.
  • Free call & trade.
  • Free Research & recommendations.
  • Flat max ₹15 per trade brokerage if you do not take a monthly subscription plan.
  • In ₹15/ trade plan, margin funding is available at as low as 12% interest p.a.
  • Free trading software including Shubh Mobile, Shubh Web and Power Indiabulls.
  • Trading Terminal 'Power Indiabulls' is among the best trading terminals available.
  • Power Indiabulls is available for Apple's Mac and Linux OS.
  • Bracket Order and Cover order are available in monthly unlimited trading plan.

Indiabulls Cons (Disadvantages)

The following are the cons of Indiabulls. Check the list of Indiabulls drawbacks.

  • Online Mutual Funds not available.
  • Online IPO (UPI integrated) is not available.
  • Branch support is not available to online customers with discount brokerage plans.
  • Margin against share is not available in Unlimited Trading Plans.

Indiabulls Ventures Limited Enquiry Form

Indiabulls Margin / Exposure

Indiabulls leverage for intraday, delivery, options, currency and commodities.

SegmentMargin
Equity Delivery1x (no margin)
Equity IntradayUp to 5x (based on the stock)
Equity FutureIntra-day: 4x | Carry forward: 1x (no margin)
Equity OptionsIntra-day: 4x | Carry forward: 1x
Currency FutureIntra-day: 2x | Carry forward: 1x
Currency OptionsIntra-day: 2x | Carry forward: 1x
Commodity FutureNA
Commodity OptionsNA

Visit Indiabulls Margin Review for more detail.


Indiabulls Ratings

Overall Rating Rated 3.2 stars 3.2/5
Fees Rated 3.5 stars 3.5/5
Brokerage Rated 3.1 stars 3.1/5
Usability Rated 3.7 stars 3.7/5
Customer Service Rated 3.1 stars 3.1/5
Research Capabilities Rated 2.7 stars 2.7/5

Based on 48 Votes by Indiabulls Customers

Do you trade with Indiabulls? Rate Indiabulls


Indiabulls Complaint

The number of Indiabulls customer complaint received by the exchanges. The Indiabulls consumer complaint report helps understanding the Indiabulls Ventures Limited quality and relibility of service.

Exchange Financial Year Number of Clients* Complaints**
NSE 2019-20 43,688 78
BSE 2019-20 8,200 5
NSE 2018-19 45,429 55
BSE 2018-19 5,177 8
NSE 2017-18 49,495 74
BSE 2017-18 12,143 10
NSE 2016-17 39,485 57
BSE 2016-17 9,382 5
NSE 2015-16 38,553 60
BSE 2015-16 10,556 15

* The number of active customers reported by the broker.

** The total number of complaints received against the broker at the given exchange.

Visit Indiabulls Complaints at BSE, NSE and MCX for detail report.


186 Comments

Pranav
186. Pranav  Jun 17, 2020 06:48 I Like It. | I Don't Like It. | Report Abuse Reply
Horrible experience. Customer care is usually busy.
App is extremely slow

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Ajaykaku
185. Ajaykaku  May 6, 2020 21:38 I Like It. | I Don't Like It. | Report Abuse Reply
I have taken account around 12 years back.
Now brokerage charges less for shubh accout and lot of new features.
But still I am paying old brokerage charges.
I sent mails/calls to customer care but no luck.
Please Help us , how existing customers can get benefits.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Below Average
Research Capabilities - Average
Customer Service - Very Poor
Overall Experience - Very Poor
Vinod Waghela
184. Vinod Waghela  May 3, 2020 11:45 I Like It. | I Don't Like It. | Report Abuse Reply
Great experienced.... i had use tradebulls, IIFL. & 5paisa but on the ground brokergare, regulqr seevices, trading plateforms & mailing services.. Indiabulls is superior than others.. really INDIABULLS SHUBH is really fastesst apps. Other brokers are charging very high but INDIABULLS are charging very less & Fixed brokerage. Also Indiabulls is proving heavy margin with fixed interest with one year period.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Above Average
Customer Service - Excellent
Overall Experience - Excellent
kumar
183. kumar  Dec 27, 2018 09:42 I Like It. 1 | I Don't Like It. | Report Abuse Reply
do not take Indiabulls trading account. i opened Indiabulls trading account on 2008, it was free account. then 2010 on wards started charging AMC and DB charge.
without any notification to me, Indiabulls charged 3000 as DB charge, actually i sold only 3 company shared which was holding 12000 worth amount of shares. when i asked manager, senior manager and customer care, there is no proper response at all. i was tracking mote then 6 month, but did not help at all. i completely stopped trading with Indiabulls.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Vishal Kumar
183.1. Vishal Kumar  Apr 1, 2020 12:34 I Like It. | I Don't Like It. | Report Abuse
I faced the same problem. I am planning to close the account with Indiabulls.
Yif
182. Yif  Mar 26, 2020 13:15 I Like It. | I Don't Like It. | Report Abuse Reply
indiabulls customer care number 7780182678#indiabulls customer care number 7780182678#indiabulls customer care number 7780182678#indiabulls customer care number 7780182678#

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Rahul
181. Rahul  Mar 25, 2020 12:59 I Like It. | I Don't Like It. | Report Abuse Reply
indiabulls customer care number//7780182678indiabulls customer care number//7780182678indiabulls customer care number//7780182678indiabulls customer care number//7780182678

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
GL
180. GL  Dec 18, 2019 09:00 I Like It. | I Don't Like It. | Report Abuse Reply
very poor// donot do works with indiabulls// your capital amount will be zero

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Santosh
179. Santosh  Nov 3, 2019 16:05 I Like It. | I Don't Like It. | Report Abuse Reply
The Realtionship Manager are worst, they don't have any relation with customer, simply call themselves as RM..Never have courtesy to call customer & if some payment is due just keep sending mail & if customer has some query they will tell to speak help desk to get it sort it out.
Never ever open an Account in Indiabulls.
AMC too high & even if I had not sold any stock still DP charges was levied..
Amol
178. Amol  Oct 25, 2019 01:08 I Like It. | I Don't Like It. | Report Abuse Reply
Mob app is not user friendely p&l not shown in proper way brokerage is very high
S K Mohapatra
177. S K Mohapatra  Aug 18, 2018 21:45 I Like It. | I Don't Like It. | Report Abuse Reply
Brokerage charge is high. Mobile app is not user friendly. Profit/loss and ledger menu not available in mobile app.

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Customer Service - Average
Overall Experience - Below Average
Niraj
176. Niraj  May 6, 2018 22:56 I Like It. | I Don't Like It. | Report Abuse Reply
Horrible experience. Bad people are employed. And without any transactions they charge u with fees.
Even to close an demat account with them is a herculean task.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
ANIL
175. ANIL  Mar 22, 2018 16:15 I Like It. | I Don't Like It. | Report Abuse Reply
ERHSFDHFJFGJBM GYJB VJCGH JGH JGBLYU KGYKGHM

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Sachin
174. Sachin  Mar 14, 2018 21:34 I Like It. | I Don't Like It. | Report Abuse Reply
Prepaid brokerage package was sold to me. Initially I was hesitant to go for it because of my concern of not being able to utilize the entire amount within in year. However, I was assured that the tenure would be extended if it was under utilized. The next year they did extent it by charging service tax on the remaining balance. Even at the end of the two years, the prepaid amount was under utilized, however this time they refused to extend the validity. Brokers like ICICI provide 15 years validity for the pre paid brokerage.

It turned out to be my biggest mistake using Indiabulls



Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Below Average
Website Usability - Average
Customer Service - Average
Overall Experience - Below Average
gsp
173. gsp  Feb 27, 2018 18:26 I Like It. | I Don't Like It. | Report Abuse Reply
Indiabulls Ventures Ltd. introduced minimum brokerage of Rs.25/- per scrip per order from 01-Jan-2018 subject to maximum of 2.5% restricted by SEBI regulations. They have revised the DP plus Taxes). Charges as appearing now in this web page is not up-to-date.

It is not advisable for small Investors/traders to open an account with Indiabulls Ventures. Better to choose any discount broker.
Prashant
172. Prashant  Sep 26, 2017 12:16 I Like It. | I Don't Like It. | Report Abuse Reply
They change rates without informing clients. And then levy the same . Wonder how once a Contract is signed between the client and them is signed, they can go about, changing rates at their will

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
S.Gulati
171. S.Gulati  Jul 25, 2017 10:01 I Like It. | I Don't Like It. | Report Abuse Reply
1. The relationship managers do not have proper knowledge of the stocks they recommend their customers to trade in.
2. They resort to aggressive trading, In spite of customers advise to go slow.
3. The brokerage charges were much more than the advertised charges. The customer was not told about these charges before starting trading and no time was given to customer to give his approval of the charges.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Average
Customer Service - Very Poor
Overall Experience - Very Poor
NITIN
170. NITIN  Jun 14, 2017 04:49 I Like It. | I Don't Like It. | Report Abuse Reply
very high brokerage compared to zerodha and other service providers

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Average
Customer Service - Below Average
Overall Experience - Very Poor
Madan chand sethia
169. Madan chand sethia  Mar 4, 2017 10:45 I Like It. | I Don't Like It. | Report Abuse Reply
Services very good

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
Deepak
168. Deepak  Jan 18, 2017 12:27 I Like It. | I Don't Like It. | Report Abuse Reply
Indiabulls is zero in terms of customer service, On the face, they RM) & charges highest brokerage in industry, however in return they don''t provide any real RM service. Their employees enjoy at the cost of customers & management does not bother for any deficiency of services by RM or customer care. Rather customer care try to skip the problem & just forward it to RM again. Really bad service, not recommended at all. Stay away from Indiabulls.

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Average
Website Usability - Average
Customer Service - Very Poor
Overall Experience - Very Poor
Kirtan Thakkar
167. Kirtan Thakkar  Oct 22, 2016 10:40 I Like It. | I Don't Like It. | Report Abuse Reply
RMs are pathetic. I was a beginner in trading and he tried his best to loot me through brokerage. I lost in many thousands because of my RM Santosh Kumar, Pune. Indiabulls is recommended but stay away from RMs.

Ratings:

Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Below Average

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