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 Customer Ratings & Review

Experience 2.5/5
Products & Services 3.4/5
Brokerage Charges & Fees 3.3/5
Stock Research & Advisory 2.6/5
Trading Platforms 2.4/5
Overall Ratings 2.7/5
Star Ratings ★★★☆☆
Total Client Reviews 378

 


About Prabhat Finance

Company Type Public
Broker Type Full Service Broker
Headquarters KANPUR (U.P.)
Founder Vinod Kumar Rathi
Established Year 1995

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 Trading 0.25%
Equity Intraday Trading 0.03%
Commodity Options Trading 0.03%
Equity Futures Trading 0.03%
Equity Options Trading Rs.25 per Lot
Currency Futures Trading 0.03%
Currency Options Trading Rs.15 per Lot
Minimum Brokerage Percentage of Transaction
Demat AMC Charges Free
Trading AMC Charges Rs.299 per Annum
Margin Money Minimum Rs.3,100
Brokerage Calculator Prabhat 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.


Prabhat Finance Other Charges

Transaction Charges 0.00315%
STT 0.0126% of Total Turnover
SEBI Turnover Charges 0.0002% of Total Turnover
Stamp Duty Depends on State (very minimal)
GST 18% 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.


Find Brokerage Charges of other Full Service Brokers – 

Kotak Securities ICICI Direct Sharekhan India Infoline (IIFL)
Ventura Securities Marwadi Group Aditya Birla Money Motilal Oswal

Prabhat Finance Demat Account Opening Fees

Depository Source CDSL & NSDL
Account Opening Charges Rs.100
Demat AMC Charges Free
Trading AMC Charges Rs.299 per Annum
Margin Money Minimum Rs.3,100
Offline to Online Yes

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 Account Yes
Free Trading Account No
Discount on Brokerage No
Trading Happy Hours No
Flexible Brokerage Plans Yes
1 Month Brokerage Free No
Holiday Offers No
Referral Offers No
Zero Brokerage for Loss Making Trades No

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.


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.

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Prabhat Finance Products & Services:

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

Products Offered by Prabhat Finance:

Equity Trading Yes
Commodity Trading Yes
Currency Trading Yes
Options Yes
Futures Yes
Mutual Funds Yes
Forex No
Banking No
SIP Yes
Insurance No

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 Services Yes
Trading Services Yes
3 in 1 Acount No
Intraday Services Yes
IPO Services Yes
Stock Recommendations Yes
Robo Advisory No
PMS No
Trading Institution No
Trading Exposure Upto 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.


Check Products & Services offered by other Stock Brokers –

Angel Broking HDFC Securities Indiabulls Ventures  Just Trade
IDBI Direct  GCL Securities Arihant Capital Religare Securities

Prabhat Finance Research, Advisory and Stock Tips

Fundamental Reports Yes
Research Reports No
Company Reports No
Annual Reports No
Company Stock Review No
Free Stock Tips Yes
IPO Reports Yes
Top Picks Yes
Daily Market Review Yes
Monthly Reports Yes
Weekly Reports Yes
Offline Advisory Yes
Relationship Manager Yes

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 Delivery Upto 2X
Equity Intraday Upto 5X
Equity Futures Upto 3X
Equity Options Upto 6X
Currency Futures Upto 2X
Currency Options Upto 1X
Commodities Upto 3X
Margin Calculator Prabhat 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.


Prabhat Finance Trading Platforms

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

Desktop Platform – Windows Yes
Desktop Platform – Mac Yes
Desktop Browser Platform Yes
Mobile Site Platform Yes
Android App Platform Yes
iOS App Platform Yes
Windows App Platform No
Other Mobile OS Platform No
Real time Updates Yes
Portfolio Details Yes
Online MF Buy Yes
News Flash Yes
Research Reports No
Easy Installation Yes
Global Indices Yes
Stock Tips Yes
Personalized Advisory No
Interactive Charts Yes
Live Markets Yes
SMS Alerts Yes
Email Alerts Yes
Multi Account Management No

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 Dealer Yes
Offline Trading Yes
Online Trading Yes
24*7 Support No
Email Support Yes
Chat Support No
Toll Free Number No
Branches 480

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 BSE 1
Resolved in BSE 1
Lodged in NSE 5
Resolved in NSE 5
Percentage of No. of Complaints Received Against Number of Active Clients 0.17

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.


Check detailed review of similar full service brokers:

Mangal Keshav  MasterTrust Networth Direct Reliance Securities
Axis Direct  SMC Global GEPL Capital  SBI Cap Securities

Open Demat Account with Prabhat Finance

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  1. Open Demat AccountBecome Sub Broker

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