Prabhudas Lilladher Review, Brokerage Charges, Demat A/C & more
With approximately 215 positive customer reviews, Prabhudas Lilladher is one of the leading full-service stockbroker companies in India.
They provide compelling stockbroker services for over 35 years, which makes them a veteran in the stockbroking industry.
The stock broker offers one the best competitive brokerage fee in the industry, and their significant trading platform creates one of the best user experiences.
The broking house is among the first companies who had initiated the Distribution of Initial Public Offering (IPO).
However, they can provide some more lucrative offers to their trading associates and also should offer better exposer or leverage offers. Apart from that, they have almost covered all the essential aspects of a successful stock trading company.
Prabhudas Lilladher Customer Ratings
|Products & Services||6.2/10|
|Brokerage Charges & Fees||6.1/10|
|Stock Research & Advisory||6.3/10|
|Total Client Reviews||215|
Overview Prabhudas Lilladher
|Broker Type||Full Service Broker|
Prabhudas Lilladher had made its mark in the year 1944, making them one of the oldest stockbroking companies in India.
The company was founded by Mr. Arun Sheth with a vision to provide an elite stock trading experience which was rare at that time. The company headquarters is in Mumbai, Maharashtra.
The company has an unmatched legacy of its own as the company is now 35 years old. They have initiated the campaign to provide the best stock trading services based on firm adherence to integrity, unyielding dedication to quality and an approach to stay in business for a long time.
Prabhudas Lilladher has adopted the corporate culture which reflects the originating beliefs and has guided them to reach the height that they currently are now.
Over the years, Prabhudas Lilladher has emerged from a just brokerage firm to a pragmatic entity that delivers all kind of financial services.
Prabhudas Lilladher has a distribution network of branches along with a skilled team of financial experts all across India.
On top of that, there are many franchises and associated scattered around the nation with a motive to deliver a comprehensive stock trading experience to each of their trading associates.
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Prabhudas Lilladher Brokerage Charges & Fees
Prabhudas Lilladher provides one of the lowest, if not the lowest brokerage fee while trading stocks. They charge just 0.10% for Equity Delivery Trading.
|Brokerage Charge & Fees|
|Equity Intraday||0.02% Both side|
|Equity Options||Intraday: Rs 20 per lot | Carry Forward: Rs 20 per lot|
|Currency Options||Intraday: Rs 20 per lot | Carry Forward: Rs 20 per lot|
|Minimum Brokerage||Percentage of Transacton|
|Demat AMC Charges||Rs.650|
|Trading AMC Charges||Zero|
|Margin Money||Rs.25,000 Minimum|
|Brokerage Calculator||Prabhudas Lilladher Brokerage Calculator|
Interestingly, they don’t provide the Commodity Options Trading, which is unlikely of other full-service stockbroker companies. It is hard to believe that they charge just 0.01% for Equity Futures Trading.
Meanwhile, for Currency Futures Trading that is again significantly low compared to their rival companies. For Equity Options Trading they charge Rs 20 per lot, whereas, for Currency Options Trading they charge Rs 20 per lot, which is again much lower than any of their close competitors.
However, the minimum Margin money threshold is Rs 25,000. Prabhudas Lilladher also has a dedicated calculator to figure out the exact brokerage fee.
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Prabhudas Lilladher Other Charges
Apart from the Brokerage fee, there are some nominal fees that a trader has to pay. 0.00330% of Transaction fee is one of those additional charges that is calculated on Total Turnovers.
|SEBI Turnover Charges||0.00005% (₹5/Crore)|
|STT||Equity Delivery: 0.1% on both Buy and Sell|
Equity Intraday: 0.025% on the Sell Side
Equity Futures: 0.01% on Sell Side
Equity Options: 0.05% on Sell Side(on Premium)
Commodity Futures: 0.01% on sell side (Non-Agri)
Commodity Options: 0.05% on sell side
Currency F&O: No STT
On Exercise transaction: 0.125%
Right to entitlement: 0.05% on sell side
|Stamp Duty||(On buy side only) Delivery: 0.015%, Intraday: 0.003%, Equity Futures: 0.002%, Equity Options: 0.003%, and Currency F&O: 0.0001%.Commodity Futures: 0.002%, Commodity Options: 0.003% (MCX)|
|GST||18% on (Brokerage + Transaction Charge + SEBI Fee)|
|Margin Funding Charges||NA|
|Reactivation Charges||Rs 20 per instruction|
|Account Closure Charges||Rs 30 per instruction|
|Dematerialisation Charges||Rs 10 per certificate + Rs 50 per request|
|Pledge Creation||Rs 20 + Rs 12 per request (CDSL Charges)|
|Pledge Invocation||Rs 20|
|Margin Pledge/Unpledge/ Pledge closure||Rs 20 + Rs 12 per request (CDSL Charges)|
|Margin Repledge||Rs 35 per ISIN|
Most of the companies charge SST of 0.0126% and SEBI of 0.00005% is levied on Total Turnovers respectively. On top of that, a variable Stamp Duty fee along with the GST fee of 18%.
Please note GST calculated on the Brokerage fees along with the Transaction fees. However, something the traders should understand that these additional charges are very nominal and it won’t affect the profit margin much.
Prabhudas Lilladher Demat Services
|Rs 0 (Free)|
|Trading AMC [Yearly]||Rs 0|
|Demat Charges [One Time]||Rs 0|
|Demat AMC [Yearly]||Rs. 450|
|Margin Money||Rs.25,000 Minimum|
|Offline to Online||Yes|
To open an account with Prabhudas Lilladher, the traders need to pay Rs 0. It is an Offline to Online account. Prabhudas Lilladher offers free Demat & Trading account opening.
However, the AMC of Demat account is Rs 450, whereas the for the Trading account it is free of cost.
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Prabhudas Lilladher Offers
According to the experts of the stock trading industry, Prabhudas Lilladher misses the trick to provide any significant offer to the traders.
|Free Demat Account||Yes|
|Free Trading Account||Yes|
|Discount on Brokerage||No|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||Yes|
|1 Month Brokerage Free||No|
|Zero Brokerage for Loss Making Trades||No|
As we mentioned before, they provide free Demat & Trading account opening. Apart from that, they don’t facilitate any discount on Brokerage fee, neither they offer any Happy Trading Hour.
They do offer flexible brokerage plans but didn’t implement any special offer for holidays so far. Some companies provide 1-month free brokerage to their new traders, which they don’t.
No sign of referral program either. The traders won’t get any rebate if they suffer any loss in trading.
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How to Open Prabhudas Lilladher Demat Account?
Prabhudas Lilladher has manifested convenient way to open an account with them. They offer free Demat and Trading account as a complimentary gift. Follow the steps to open an account:
- Click on “Open Demat Account” button below. That will open a preliminary registration form that the traders must fill-up and submit.
- The traders will be asked to provide the necessary KYC documents via email along with the payment link to register for the account.
- Once the traders process the payment, the representatives of Prabhudas Lilladher will verify the submitted documents.
- After the completion of the KYC verification process, they will send the account credential via email. The traders can access their Demat and Trading account respectively.
Why Open Prabhudas Lilladher Trading Account?
A Demat account helps protect the invested stocks and hence a mandatory account for trading online. Here are some reasons the traders can choose Prabhudas Lilladher:
Vision & Belief
Prabhudas Lilladher has years of experience and knowledge in the stock trading industry. They are perfectly capable of determining the best for their respective trading associates.
Naturally, the traders have put their faith in their perspectives and earned handsome profits. They don’t hesitate in sharing their vast knowledge. Perhaps that is the reason the traders trust them.
The management of Prabhudas Lilladher is very proficient in making any financial decision. Their stock research team provide decent information to the traders.
They provide crucial support which helps a trader to earn more profit, especially in the initial stages.
They feed their trading associates with relevant stock trading information so that they can gain confidence and be proficient enough to do successful trading.
Sincerity & Honesty:
The fact that people trusted Prabhudas Lilladher for such a long time comes from the constant effort to provide ethical services.
Every service they offer comes with clarity in the description, and they are true to their commitments. Thus, the traders trusted them for so long and didn’t doubt their honesty and integrity.
As we all know; the stock market is volatile. Therefore, it is essential to predict future possibilities and take measures accordingly.
Prabhudas Lilladher invests a lot on doing spontaneous market research, hence prepare for any drastic change that might occur in the stock market.
Based on the gathered information, they create contingency plans to withstand any crisis. Their adaptability is one of their greatest strengths which they offer to their trading associates.
Prabhudas Lilladher believes in creating opportunities for traders to earn more. This attitude has proved to be very professional and has become a success mantra for them over the years.
They don’t hesitate to implement new techniques which are unconventional and encourage their trading associates to do the same. It is a “Win-Win” strategy for everyone.
Calculated Risk Management:
We all understand the phrase “take risks and get rewards”. The bigger the risk, the higher the profit margin if paid-off successfully.
Prabhudas Lilladher is an ambitious stock trading company. They encourage their traders to take calculated risks. Their research team is extremely proficient in understanding the risk factors and suggests the traders the best solutions.
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Prabhudas Lilladher Products & Services
The various products & services provided by the broking house are –
Prabhudas Lilladher Products
Prabhudas Lilladher offers almost all sorts of stock trading Products such as Equity Trading, Currency Trading, Options, Futures, Mutual Funds, SIP and Insurance.
They also deal with Commodity-related activities via the Commodity reasearch desk service. The Automated Risk Management services they provide to Hedgers and Commodity-based companies are state of the art.
They provide cutting edge trading terminals backed by 24×7 customer support.
Prabhudas Lilladher Services
Apart from the Demat and Trading account activities, they provide services related to Intraday, IPO, PMS and Robo Advisory.
They provide compelling Portfolio Management services with sound strategies. To add to that, they also provide Stock Recommendations.
|3 in 1 Acount||No|
|Trading Exposure||Upto 5x|
The Invest Active service is their pinnacle product that combines strategic investments with practical market researches.
Although, Prabhudas Lilladher is not a Trading Institution, yet they provide Trading exposure which is up to 5x, which proves its proficiency.
Prabhudas Lilladher Research & Advisory
|Research & Advisory|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
|Daily Market Review||No|
Here are the set of Research & Advisory services they provide to their trading associates:
- Provide Research reports.
- Deliver company stock reviews.
- Provide free Stock Tips.
- Suggest the Top Picks.
- Offer Offline Advisory.
- They offer Relationship Managers.
Prabhudas Lilladher Exposure/ Leverage
|Exposure / Leverage|
|Equity Delivery||1x (no margin)|
|Equity Intraday||Up to 6x (based on the stock)|
|Equity Futures||Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)|
|Equity Options||Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)|
|Currency Futures||Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)|
|Currency Options||Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)|
|Commodities||Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)|
|Margin Calculator||Prabhudas Lilladher Margin Calculator|
The Exposer or Leverage Ratio that Prabhudas Lilladher offer is mediocre when compared to its rival companies. They offer just up to 1x for Equity Delivery, Equity Futures, Currency Futures and Commodities.
Some of them are way below par. However, the Equity Intraday exposer or leverage ratio is decent which is up to 6x. They also offer Equity Options and Currency Options which is up to 1.3x and 1.3x respectively.
The Margin calculator that they provide will assist the traders to calculate the exact percentage and amount.
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Prabhudas Lilladher Trading Platforms
The trading platforms they provide comes with a user-friendly interface that has the option to trade even using your mobile phone. The users can access BSE or NSE accounts while stock trading, F&O, and Currency trading. Not only that, the platforms are also equipped with payment gateways that support up to 15 bank accounts.
Traders can create a Watch list of preferred stocks using the platforms. Through these trading platforms, any trader can do trading calls be that – Intraday, Overnight, short-term or long-term.
|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|
|Online MF Buy||Yes|
|Multi Account Management||No|
Prabhudas Lilladher provides a seamless environment inside of every trading platform that fetches market information and facilitates secure stock trading.
The trading platforms also fetch information regarding Demat holdings, Open positions, Ledger Balance, Margin used & available and many more.
Of course, the relationship manager helps the traders to understand the functionalities and its capabilities for successful trading.
Prabhudas Lilladher Trading Terminal
Prabhudas Lilladher offers a convenient desktop application that runs on both Windows and Mac OS. The application fetches Real-time updates from the stock market and has the Online MF Buy option.
It also displays Global Indices and Portfolio Details, making it an important ally for the traders. Sadly, this application doesn’t come with easy installation options and lacks a few options as well like News Flash, Research Reports and Stock Tips.
Prabhudas Lilladher Web Trading Platform
Prabhudas Lilladher also cares about traders who prefer trading via web browsers. This trading platform is browser responsive hence the traders can access their accounts via mobile phones or tablets.
Like the desktop application, the web browser platform also offers the same features and lacks the same features likewise.
Prabhudas Lilladher Mobile Trading App
The mobile app is for the future generation stock trading experience. It has all those features that are available in the other platforms.
It comes on both Android and iOS which is easily available on their official website and Google Playstore or Apple Store respectively.
The lack of SMS and email alerts are unexpected though.
Prabhudas Lilladher Customer Support
Prabhudas Lilladher operates and provides support to customers via the Dedicated Dealers they imposed over the years.
They provide 24×7 customer support for all their operational troubleshooting. They deliver customer support to both Online and Offline users.
|Support Number||022 – 66322222|
|Toll Free Number||No|
One very significant aspect is they provide the Live Chat support at office hours. Their email support is decent as well.
They also facilitate dedicated support managers to provide optimum assistance to every trading associate.
Prabhudas Lilladher Complaints (Current Year)
As the company is over 35 years old, some complaints are expected. A total of 8 complaints have been issued from BSE and NSE which are been resolved expertly.
|Complaints (Current Year)|
|Lodged in BSE||3|
|Resolved in BSE||3|
|Lodged in NSE||5|
|Resolved in NSE||5|
Prabhudas Lilladher Disadvantages
It has some drawbacks which they should take into consideration:
- A bit expensive for new account opening.
- Very limited offers.
- No commodity trading activities.
- No monthly, weekly or daily market reviews to traders.
Prabhudas Lilladher Conclusion
It has been in the stock trading industry for 35 years. This itself is a staggering achievement. They offer impactful services and their traders are happy with the overall user experience. The most significant aspect is their brokerage fee percentage.
They believe is getting more clients rather than charging more from the existing traders. Excellent customer service over the years and very few complaints against them. Yes, there are some areas they can improve, but surely, they figure it out in future.
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