Prostocks Review, Brokerage Charges, Demat Account, Trading Platforms & more

Prostocks is one of the well-known discount broker based out of Mumbai.  Let’s have a detailed Prostocks Review & get good understanding of Prostocks Brokerage Charges, Prostocks Demat Account, Prostocks Trading Platforms & other important features.Stock Broker Complaints


Prostocks Customer Ratings & Review

Prostocks Customer Ratings & Revew

About Prostocks

Company TypePublic
Broker TypeDiscount Broker
HeadquartersMumbai
Founder & CEOS P Toshniwal
Established Year2016

Prostocks, founded in the year 2016 in the month of February, so one of the most recent Discount Broker. Prostocks, appeared as a recent competitor among the prevailing brokers. It is a Sunlight Broking LLP venture, with head office established in Mumbai.

The broking house has accessibility in various segments of the market. These are Equity, currency, derivatives, Mutual Funds, NRI trading services, depository services. They are not present in MCX and NCDEX due to lack of enough resources and infrastructure.

The Discount broker has an active client base of more than 2000 in the current year up to 2018 which is commendable in today’s time.  Prostocks has made efforts in making your trade more efficient and convenient by providing latest trading platform and friendly customer support services. You can trade at BSE & NSE in segments like:

  • Equity Cash (Intraday & Delivery),
  • Equity Derivatives (F&O),
  • Currency Derivatives (F&O) and
  • Depository Services.

Open Demat Account with Prostocks

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    1. Open Demat Account

    Prostocks Brokerage Charges and Plans

    The discount broker is known to provide multiple brokerage plans:

    • Trade level
    • Monthly level
    • Yearly level

    Prostocks Brokerage Charges Trade Level

    Equity Delivery TradingRs.15/order
    Equity Intraday TradingRs.15/order
    Commodity TradingNA
    Equity Futures TradingRs.15/order
    Equity Options TradingRs.15/order
    Currency Futures TradingRs.15/order
    Currency Options TradingRs.10/lot
    Minimum BrokerageZero
    Demat AMC ChargesZero
    Trading AMC ChargesZero
    Margin MoneyZero

    Prostocks Brokerage Monthly Level

    SegmentBrokerage Charges
    Equity Delivery TradingRs.899/month
    Equity Intraday TradingRs.899/month
    Equity Futures TradingRs.899/month
    Equity Options TradingRs.899/month
    Currency Futures TradingRs.499/month
    Currency Options TradingRs.499/month

    This Brokerage plan allows Unlimited Trading per Month.

    Prostocks Brokerage Plat Yearly Level

    SegmentBrokerage Charges
    Equity Delivery TradingRs.8999/year
    Equity Intraday TradingRs.8999/year
    Equity Futures TradingRs.8999/year
    Equity Options TradingRs.8999/year
    Currency Futures TradingRs.4999/year
    Currency Options TradingRs.4999/year

    This Brokerage plan allows Unlimited Trading for an Year.


    Prostocks Charges

    Other than brokerage charges, there are few other charges charged by Prostocks. But these charges are very minimal & doesn’t affect the ROI of any client.

    Transaction Charges0.00325% of Total Turnover
    STT0.0126% of Total Turnover
    SEBI Turnover Charges0.0002% of Total Turnover
    Stamp DutyDepends on State (very minimal)
    GST18% of (Brokerage + Transaction Charges)

    These charges are very minimal & they don’t affect the overall ROI of the Investment.

    Note: For Stamp duty, all customers will pay 0.01% (Rs. 50 per day Max) stamp duty, except Maharashtra residents.


    Prostocks Demat Account Opening Fees

    Depository SourceCDSL
    Account Opening ChargesZero
    Demat AMC ChargesFree
    Trading AMC ChargesFree
    Margin MoneyZero
    Offline to OnlineNo

    The broking house doesn’t charge any account opening fees, Demat AMC & Trading AMC. All these charges are absolutely free.


    Prostocks Offers

    Margin MoneyYes
    Free Demat AccountYes
    Free Trading AccountYes
    Discount on BrokerageYes
    Trading Happy HoursNo
    Flexible Brokerage PlansNo
    1 Month Brokerage FreeNo
    Holiday OffersNo
    Referral OffersNo
    Zero Brokerage for Loss Making TradesNo

    List of Offers provided:

    • Zero Margin Money
    • Free Demat Account
    • Free Trading Account
    • Flat Brokerage Charges @ Rs.15 only

    Open Demat Account with Prostocks

      Fill Your Details Here
      1. Open Demat Account

      How to open Demat account with Prostocks?

      • Fill up the Lead Form – Click here
      • Prospect will receive a call from sales team
      • Appointment will be set-up as per prospects availability
      • Sales person will visit the prospect
      • Prospect will have to provide few information & documents like Aadhaar Details, PAN Details, Account Opening Fees & POA
      • Account will be activated within 1 working day

      This Entire process takes 5 to 7 days to complete.


      Why Open Prostocks Trading account?

      • Lower Refundable brokerage.
      • They give probably the best platform for trading online.
      • Account opening in 15 mins through Aadhaar and Demat account service with zero amounts.
      • Mutual Fund is now possible.
      • Awesome Referral Program and impressive multiple trading plans for both medium and heavy volume traders.

      Prostocks Products & Services

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

      Prostocks Products

      Equity TradingYes
      Commodity TradingNo
      Currency TradingYes
      OptionsYes
      FuturesYes
      Mutual FundsYes
      ForexNo
      BankingNo
      SIPNo
      InsuranceNo

      List of Products offered are:

      • Equity
      • Derivatives
      • Currency
      • Depository Services
      • NRI Trading Services
      • Mutual funds

      Prostocks Services

      Demat ServicesYes
      Trading ServicesYes
      3 in 1 AccountNo
      Intraday ServicesYes
      IPO ServicesNo
      Stock RecommendationsNo
      Robo AdvisoryYes
      PMSNo
      Trading InstitutionNo
      Trading ExposureUpto 7x

      List of Services offered are:

      • Demat Account
      • Trading Account
      • Intraday Trading
      • Robo Advisory
      • Trading Exposure

      Prostocks Research, Advisory & Stock Tips

      Look at this table for all information about their research & recommendations

      Fundamental ReportsNo
      Research ReportsNo
      Company ReportsNo
      Annual ReportsNo
      Company Stock ReviewNo
      Free Stock TipsYes
      IPO ReportsNo
      Top PicksYes
      Daily Market ReviewNo
      Monthly ReportsNo
      Weekly ReportsNo
      Offline AdvisoryNo
      Robo AdvisoryYes
      Relationship ManagerNo

      The discount broker doesn’t provide any research & recommendations to their client. They have  built a Robo advisory platform which provides daily stock tips only. They don’t have a very well established research team.


      Prostocks Exposure or Leverage

      The broking company provides upto 35x exposure to their clients. Exposure varies on various parameters

      • Clients Holdings (Trader client or high value client gets high exposure)
      • Clients History (old client gets high leverage)
      • Type of investment (Equity, Derivatives, Currency, Commodity)
      • Company Scrip (High networth company has high exposure scrip)
      Equity DeliveryUpto 7x
      Equity IntradayUpto 5x
      Equity FuturesUpto 1.5x
      Equity OptionsUpto 3x
      Currency FuturesUpto 1.5x
      Currency OptionsUpto 3x

      Prostocks Trading Platforms

      The broking company offers web based, desktop based and mobile app based trading platform. The broker provides these platforms through NSE NOW. It is available in its website version, trading software version and as a mobile application compatible to almost all operating system.

      Features of Prostocks Trading Platforms:

      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 ReportsYes
      Easy InstallationYes
      Global IndicesYes
      Stock TipsYes
      Personalized AdvisoryYes
      Interactive ChartsYes
      Live MarketsYes
      SMS AlertsYes
      Email AlertsYes
      Multi Account ManagementYes

      Prostocks Desktop Review: Prostocks desktop based Trading Terminal

      This trading terminal has some inbuilt features, let us have look over it:

      • Real time monitoring of your trades.
      • Index Option Strategies to calculator.
      • Single Sign-in to back-office makes operation lot convenient.
      • Multiple market watch update on real time gives you broader out look of the scenario.
      • Option calculator.

      Prostocks Web Review: Prostocks web based Trading Platform

      The main highlights of the web version of trading platform are:

      • Online market updates.
      • Direct order placing from charting platform which minimizes error while placing orders.
      • Multilevel security so only you can access your trade.

      Prostocks Mobile App Review: Prostocks App based Trading Platform

      This trading app is easy to use, secure and compatible to major mobile operating systems. The app weights only 11mb and is upgraded regularly.


      Prostocks Customer Support

      Here are the list of Support they provide to their client

      Dedicated DealerNo
      Offline TradingNo
      Online TradingYes
      24*7 SupportYes
      Support Number022 3811 0110
      Email SupportNo
      Chat SupportNo
      Toll Free NumberNo
      BranchesNo

      Prostocks Complaints & Feedback

      Here are the total number of complaints lodged & their resolution status for the current year.

      Lodged in BSENo
      Resolved in BSENo
      Lodged in NSE48
      Resolved in NSE29

      The number of clients in this broking house is minimal hence, volume of compliant is also low.

      NOTE* – Their TAT for resolving any kind of complaints are 30 days. This is bit late.


      Here are pros & cons of Broking house

      Advantages

      • The account opening charge is zero.
      • Chose from multiple Brokerage plans and services.
      • Brokerage on lower side.
      • Offers trading services for NRIs.
      • Account opening process is fully online which ultimately reduces your cost.

      Disadvantages

      • Commodity segment is not applicable here.
      • It offers low exposure and margin so not good for those who wants to trade in huge volume with lesser investment.
      • Customer support services are not satisfactory but are changing with time.

      Prostocks Conclusion

      Prostocks is a very new Broker in the Discount Broker game. They hardly have any major volume of customer base. Our Expertise says that go with this broking house only if you are a Trader. Investors are not recommended. If you have a good trading experience try them or else there are many other options available in this segment.

      Open Demat account only if you want to test out their product & services. Only Traders should try.


      Open Demat Account with Prostocks

        Fill Your Details Here
        1. Open Demat Account

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