ProStocks is a flat-fee discount stock broker with offices in Mumbai, India. ProStocks is one of India’s most affordable, transparent, and cutting-edge online stock brokers.
At the NSE and BSE, ProStocks provides trading in equity, equity derivatives, and currency derivatives. They provide free trading applications for mobile, laptop, and websites. For those who prefer to place orders over the phone with dealers, they also offer call & trade.
Online stock trading and investment are available to NRI, NRO, and PIO consumers through ProStocks NRI Trading services.
Here are 9 reasons why ProStocks is a superior option to other traditional or low-cost brokers in India:
1. Cheapest and Multiple Brokerage Plans : There are 5 distinct trading plans available on ProStocks. The entry-level plan appropriate for casual investors is the Rs 15/trade plan. For high frequency traders, the Rs 899/month unlimited equity trading package is ideal.
Competitors RKSV and Zerodha don’t provide set monthly plans.
2. Excellent Customer Service : You don’t necessarily receive less quality service just because they charge less brokerage. Customer support at ProStocks is far superior to that of the majority of discount and traditional brokers.
3. No PCM Fee Charged : ProStocks doesn’t alter customers’ clearing charges, in contrast to the majority of stock brokers in India. Typically, the PCM cost is assessed in addition to the exchange transaction fees.
4. No Demat AMC : When you pay a one-time, refundable deposit of Rs 1000 at the time of account opening, ProStocks offers a demat account with zero annual maintenance fees. Most other brokers charge between Rs 300 and Rs 1000 AMC.
5. Low Call & Trade Charges : Each executed order is subject to a call & trade fee of Rs 10 from ProStocks. In the world of discount brokerage, this is among the lowest.
6. Free Software : All trading software, including the website, mobile trading app, and installable trading terminal, is provided without charge to all consumers. The most advanced and effective trading platform in India is ProStocks.
All users have free access to technical charts and live streaming quotes.
7. No Prop Trading : ProStocks does not engage in proprietary trading, in contrast to the majority of bargain brokers in India.
Proprietary trading is when a corporation or broker engages in trading solely for financial gain. This greatly raises the risk associated with the funds you deposit with the broker for trading.
Although the broker claims to have used their own funds for the prop trading, this is not entirely accurate. While they handle the end-of-day margin requirement from the exchange, they continue to play with the customer’s money during the day.
8. Referral Program : Earn 10% of the brokerage fees paid by your friend who joins ProStocks after you recommend them. Your account is promptly credited with the funds. You can earn enough money to cover your brokerage costs if you refer 10 of your friends who trade in the same capacity as you.
You are free to recommend as many friends or family members as you like.
9. Hassle-free Online Account Opening : If you have an Aadhar Card, registering an account with ProStocks is very simple because everything is done online. They have excellent eKYC, Aadhar card database, and digital signature integration within their account opening procedure.
The majority of customers’ account opening procedures are entirely paperless. The relevant documents can be uploaded online, and your account will be opened in a matter of minutes when your PAN number, Aadhar number, and cellphone number have been verified. Documents do not require printing or signing.