Prabhat Finance Review, Brokerage Charges, Demat Account & more

Prabhat Finance is a reputable stockbroker company feeding a wide array of stock trading services. This Kanpur based company is hand-picked for remitting the top-quality trading services.

They offer a stable brokerage fee for almost every trading service they provide.

With adequate user experience, pleasing trading platforms and around 378 customer reviews, Prabhat Finance has already dominated the stockbroking industry with 480 branches across India.Prabhat Finance offers


Prabhat Finance Customer Ratings & Review

Experience2.5/5
Products & Services3.4/5
Brokerage Charges & Fees3.3/5
Stock Research & Advisory2.6/5
Trading Platforms2.4/5
Overall Ratings2.7/5
Star Ratings★★★☆☆
Total Client Reviews378

 


About Prabhat Finance

Company TypePublic
Broker TypeFull Service Broker
HeadquartersKANPUR (U.P.)
FounderVinod Kumar Rathi
Established Year1995

Prabhat Finance

Founded in 1995, Prabhat Finance started its venture at one the economically sound cities in India – Kanpur. The founder – Vinod Kumar Rathi, had a distinct concept of how he wants to conduct the market.

There was a strong competition that the broking house have endured and with sound strategies, they have triumphantly achieved to stabilize a foundation that is still displaying its prowess after 24 years in action.


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    Prabhat Finance Brokerage Charges

    Equity Delivery Trading0.25%
    Equity Intraday Trading0.03%
    Commodity Options Trading0.03%
    Equity Futures Trading0.03%
    Equity Options TradingRs.25 per Lot
    Currency Futures Trading0.03%
    Currency Options TradingRs.15 per Lot
    Minimum BrokeragePercentage of Transaction
    Demat AMC ChargesFree
    Trading AMC ChargesRs.299 per Annum
    Margin MoneyMinimum Rs.3,100
    Brokerage CalculatorPrabhat Financial Brokerage Calculator

    Prabhat Finance offers a highly competitive brokerage fee. They provide Equity Delivery Trading at 0.25% which is one of the best in the market.

    They deal with Commodity Options, Equity Intraday, Equity Futures and Currency Futures Trading at the rate of 0.03% respectively.

    For Equity Options and Currency Options Trading, they levied ₹25 per lot and ₹15 per lot respectively. They contribute a Margin Money starting of ₹3,100.

    The brokerage charges will be settled on the concluding transaction value. The brokerage fee percentage they impose is applicable on the final trading transaction value according to the market standard rates.


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    Prabhat Finance Other Charges

    Transaction Charges0.00315%
    STT0.0126% of Total Turnover
    SEBI Turnover Charges0.0002% of Total Turnover
    Stamp DutyDepends on State (very minimal)
    GST18% of (Brokerage + Transaction Charges)

    Prabhat Finance additionally charges 0.00315% as Transaction Charges which is a bit high compared to its rivals. However, the STT of 0.0126% on Total Turnover and SEBI Turnover Charges of 0.0002% on Total Turnover respectively, is industry standard.

    The Stamp Duty fee which is variable from one state to another and the GST of 18% will also be applicable. The concluding amount will be the total summation value of the Transaction amount along with the brokerage fee that the stock broker levies.

    Please note that these additional fees will not affect the profit margin as these are very nominal fees. The traders don’t need to bother though as these extra charges are negligible and most likely will not influence the profit margins much.


    Prabhat Finance Demat Account Opening Fees

    Depository SourceCDSL & NSDL
    Account Opening ChargesRs.100
    Demat AMC ChargesFree
    Trading AMC ChargesRs.299 per Annum
    Margin MoneyMinimum Rs.3,100
    Offline to OnlineYes

    Prabhat Finance inflicts just ₹100 which is industry standard to open a Demat account. However, the AMC of Demat account is free.

    There is no cost to open a Trading account, but the AMC will cost ₹299 which majority of the companies to impose.


    Prabhat Finance Offers

    Free Demat AccountYes
    Free Trading AccountNo
    Discount on BrokerageNo
    Trading Happy HoursNo
    Flexible Brokerage PlansYes
    1 Month Brokerage FreeNo
    Holiday OffersNo
    Referral OffersNo
    Zero Brokerage for Loss Making TradesNo

    They provide free AMC for Demat accounts, whereas they charge ₹299 as AMC for Trading accounts.

    They don’t grant any Trading Happy Hours to earn more profit, but they offer Flexible Brokerage Plans, which is supportive.

    No 1-month Brokerage Free trading to newbies, no Referral program either. They don’t provide any Holiday offers which is very common in other stockbroking companies.

    As foreseen, they don’t provide any discounts or rebates if a trader suffers a relapse.


    To know about offers of other stock brokers check below

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    How to Open a Demat Account with Prabhat Finance?

    Here are the simple steps to open Demat Account with Prabhat Finance:

    • Fill up the form by clicking on the green “Open Demat Account”.
    • Prabhat Finance will send an email where the traders need to upload the KYC documents.
    • Then they will send the payment link through email.
    • Finally, they will confirm the payment and grant access to your account.

    Why Open Prabhat Finance Trading Account?

    Demat account is compulsory for every stock trader. Although Demat account safeguards the purchased shares, it also plays the most vital part while trading.

    Here are a few speculations why a trader should open a Demat account from Prabhat Finance:

    • The Demat account opening fee is just ₹100 which is very low compared to their rivals.
    • Prabhat Finance offers free AMC for Demat account.
    • They offer low brokerage fees.

    Get a Call back from Prabhat Finance

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      1. Open Demat Account

      Prabhat Finance Products & Services:

      Here are the list of Products & Services provided by the broking company –

      Products Offered by Prabhat Finance:

      Equity TradingYes
      Commodity TradingYes
      Currency TradingYes
      OptionsYes
      FuturesYes
      Mutual FundsYes
      ForexNo
      BankingNo
      SIPYes
      InsuranceNo

      Prabhat Finance provides a variety of trading ventures. They offer Equity Trading, Commodity Trading, Currency Trading, Options, Futures, Mutual Funds and SIP activities.

      However, they are yet to make their mark on Forex, Banking, Insurance activities.

      Prabhat Finance Service Offerings:

      Demat ServicesYes
      Trading ServicesYes
      3 in 1 AcountNo
      Intraday ServicesYes
      IPO ServicesYes
      Stock RecommendationsYes
      Robo AdvisoryNo
      PMSNo
      Trading InstitutionNo
      Trading ExposureUpto 5X

      Apart from Demat & Trading account ventures, Prabhat Finance also deals with Intraday Services, IPO Services and Stock Recommendations.

      They have not started any 3-in-1 Account, PMS, Robo Advisory services yet. Prabhat Finance delivers up to staggering 5x Trading Exposer. Interestingly they are not a Trading Institution.


       

      Prabhat Finance Research, Advisory and Stock Tips

      Fundamental ReportsYes
      Research ReportsNo
      Company ReportsNo
      Annual ReportsNo
      Company Stock ReviewNo
      Free Stock TipsYes
      IPO ReportsYes
      Top PicksYes
      Daily Market ReviewYes
      Monthly ReportsYes
      Weekly ReportsYes
      Offline AdvisoryYes
      Relationship ManagerYes

      Prabhat Finance provides the following services to its trading associates:

      • They generate Fundamental Reports
      • Provides Free Stock Tips
      • Suggests the Top Picks
      • Delivers Daily Market Reviews
      • Publish Weekly & Monthly Reports
      • Assigns Offline Advisors
      • Availability of dedicated Relationship Manager

      Prabhat Finance Exposure or Leverage

      Equity DeliveryUpto 2X
      Equity IntradayUpto 5X
      Equity FuturesUpto 3X
      Equity OptionsUpto 6X
      Currency FuturesUpto 2X
      Currency OptionsUpto 1X
      CommoditiesUpto 3X
      Margin CalculatorPrabhat Finance Margin Calculator

      Prabhat Finance offers standard exposers and leverage to its trading associates. They provide up to 2x for Equity Delivery which is the average industry standard.

      However, they offer up to 5x for Equity Intraday and up to 6x for Equity Options. They offer up to 3x for Equity Futures and Commodities respectively.

      For Currency Futures, it is up to 2x and for Currency Options, a disappointed up 1x exposure and leverage ratio.


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      Prabhat Finance Trading Platforms

      Prabhat Finance provides cutting edge Trading Platform to its trading associates:

      Desktop Platform – WindowsYes
      Desktop Platform – MacYes
      Desktop Browser PlatformYes
      Mobile Site PlatformYes
      Android App PlatformYes
      iOS App PlatformYes
      Windows App PlatformNo
      Other Mobile OS PlatformNo
      Real time UpdatesYes
      Portfolio DetailsYes
      Online MF BuyYes
      News FlashYes
      Research ReportsNo
      Easy InstallationYes
      Global IndicesYes
      Stock TipsYes
      Personalized AdvisoryNo
      Interactive ChartsYes
      Live MarketsYes
      SMS AlertsYes
      Email AlertsYes
      Multi Account ManagementNo

      Prabhat Finance Trading Terminal:

      Prabhat Finance offers an easy installation Desktop application which is available for both Windows and Mac users.

      This robust application has some beneficial features like Real-time Updates, Portfolio Details and Online MF Buy.

      Although it doesn’t support Multi-Account Management but provide Live Market status and get the latest Stock Tips which makes gives decent user experience.

      Prabhat Finance Web Trading Platform:

      The browser version portal is capable of fetching real-time stock reports, which is one of the quickest in the market. It also has Online MF Buy, Global Indices and Live Market reports to keep the traders updated.

      The web trading platform is mobile responsive; therefore, one can access it from mobile web browsers as well.

      Prabhat Finance Mobile Trading App:

      The mobile app that Prabhat Finance presents comes with all the features that are available in the desktop application or the browser version.

      The fact that it comes in both Android and iOS make it handier to use. The SMS and Email alerts are enabled, therefore, becomes more convenient in receiving market notifications.


      Prabhat Finance Customer Care

      Dedicated DealerYes
      Offline TradingYes
      Online TradingYes
      24*7 SupportNo
      Email SupportYes
      Chat SupportNo
      Toll Free NumberNo
      Branches480

      Prabhat Finance delivers astounding customer care support. They have Dedicated Dealer and contribute assistance to both online and offline traders.

      With 480 branches across India, they present hassle-free service with one of the best customer care support services.

      Although, they don’t have 24×7 support and don’t have chat support yet they make it up with highly active email support.


      Prabhat Finance Complaints and Feedback

      Find the list of complaint against Prabhat Finance –

      Lodged in BSE1
      Resolved in BSE1
      Lodged in NSE5
      Resolved in NSE5
      Percentage of No. of Complaints Received Against Number of Active Clients0.17

      With so many years of providing service, it is understandable to receive some grievances. The percentage of the number of complaints received against the number of active clients is just 0.17%.

      A total of 6 complaints have been issued. 1 from BSE and 5 from NSE. All 6 of them have been resolved, however.


      Prabhat Finance Advantages and Disadvantages:

      Like all other stockbroker company, Prabhat Finance comes with some imperfections too:

      • 24 years in operation but still not an official Trading Institution.
      • Chargeable AMC for Trading Account.
      • Poor Exposure / Leverage ratio for Currency Options.

      Prabhat Finance Conclusion

      Prabhat Finance is almost a complete stockbroker company. They offer relevant stockbroking services which are supportive and convenient for their trading associate to earn handsome profits.

      Their flaws can be overlooked and can be focus on the benefits they provide. The brokerage fee is one of the best in the market. The support team is helpful enough for problem escalating.

      The complaint ratio is under control making Prabhat Finance, a charismatic organisation that delivers quality user experience more often than not.


      Open Demat Account with Prabhat Finance

        Fill Your Details Here
        1. Open Demat Account

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