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ProStocks Reviews - Options Trading, Brokerage & Platform

Published on Tuesday, May 15, 2018

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ProStocks Reviews - Options Trading, Brokerage & Platform

ProStocks is a Mumbai based online stock broker. The Flat Fee discount brokerage company is registered with SEBI. It offers trading services at BSE and NSE in all segments i.e. Equity Cash, Equity Derivatives and, Currency Derivatives. ProStocks also offer Depository Services (demat account) and Mutual Funds.

ProStocks banks on the latest technology to offer efficient and low-cost services to the traders. Its various pricing plans allow traders to save brokerage between 60% to 99% in comparison to other traditional brokerage firms. Being a complete online brokerage firm, the company only offers its services through online platforms and doesn't have branches.

ProStocks is popular for its FIXED MONTHLY BROKERAGE PLAN. This plan offers truly unlimited trading in equity delivery, intra-day and F&O segments for just ₹899 per month. This plan also offers unlimited currency derivatives trading at ₹499 per month. There are no hidden fees included in this pricing for online traders. Unlike most other discount stock brokers, ProStocks offers free trading software, back-office, and online tools. The fixed monthly trading plan allows customers to trade literally unlimited times and of unlimited size in a month. Many of the customers execute over 2000 trades a day under this plan. This offers to save over 99% on brokerage to these customers. It allows them to trade at a very small break-even point.

ProStocks another popular service is its ZERO AMC DEMAT ACCOUNT. With ₹1000 refundable deposit, the customer gets a ₹0 AMC Demat Account. Almost all other brokers charge up to ₹1200 in Annual Maintenance Change. Many investors open multiple demat accounts, one with each family members name, to get the maximum allotment in IPO's and to distribute their investment across family members.

ProStocks Review-Pros & Cons

Pros Cons
Low brokerage fee of flat ₹15 per executed order.Commodity trading is not available.
Flat rate unlimited monthly trading plans (₹899/month) for frequent traders.Doesn't offer 3-in-1 account facility.
₹0 Demat and Trading account opening fee.Margin available for trading is not as high as offered by traditional brokers.
Call & Trade facility is available.Additional ₹10 per order charged for Call & Trade facility.
₹0 AMC Demat Account.
Max ₹50 Stamp Duty (Except for Maharashtra & Rajasthan customers)
Free access to Trading Terminal, Website and Mobile App
Real time brokerage and margin calculators to check your trading cost upfront.
Tech savvy brokerage firm with powerful backoffice.

ProStocks Trading Platforms

1. ProStocks Desktop (Trading Terminal)

The ProStocks desktop is a trading terminal useful for frequent and high volume traders. The terminal can be installed on your personal computer and offers many useful trading features like:

  • Fully customizable trading terminal with options to set the default screen with preferred colors.
  • Multiple Indices based market watch updated in real-time.
  • Advanced Real-Time Charting with multiple charting tools.
  • Intraday, tick-by-tick, 1 min, 5 min, 15 min, 30 min, 60 min, daily, weekly, monthly quarterly, half yearly and yearly charts.
  • In-built Option Strategies with Option calculators to calculate real time returns.
  • Facility to monitor multiple scrips for new high/ low, new 52 week high/low etc.
  • Facility for bulk trades across exchange and segment.
  • Set customized order and price alerts.
  • Facility to place After Market Orders (AMO).

2. ProStocks Web

ProStocks web is web-based trading application built using HTML5 technology. The application can be accessed from any browser and offers many key features like:

  • Multi level security check for secure trading
  • Access to real time market quotes and online reports
  • Facility to trade across multiple segments and markets
  • Create multiple Market Watch across different assets, indices and sectors
  • Payment gateway with 26 banks for fund transfer
  • Real time, pre-trade and rule based risk management
  • Hot functional keys for faster trading
  • Set Email and SMS alerts

3. ProStocks Mobile App

ProStocks also offers a mobile trading app. The app is available on Apple iOS and Android. It offers many useful features to facilitate trade on the go:

  • Place orders from the app
  • Get access to charts and graphs
  • Real-time market data
  • Access to portfolio
  • Facility for fund transfer

ProStocks Options Trading Pricing Plans

Plan Equity Options Currency Options
Flat Fee Plan₹15 per executed order
Unlimited Monthly Plan₹899₹499
Unlimited Yearly Plan₹8999₹4999

ProStocks Options Brokerage Charges

1. ProStocks Equity Options Brokerage Fee

Brokerage (Flat Fee Plan)₹15/Trade
Brokerage (Unlimited Plan)₹0
STT0.05% of Premium for SELL
Transaction ChargesNSE: ₹5000/Cr | BSE: ₹2500/Cr
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)
SEBI Charges₹15/Crore
Stamp Charges*0.01% (Max ₹50 per day)

2. ProStocks Currency Options Brokerage Fee

Brokerage (Flat Fee Plan)₹15/Trade
Brokerage (Unlimited Plan)₹0
STT₹0
Transaction ChargesNSE: ₹4000/Cr | BSE: ₹10/Cr
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)
SEBI Charges₹15/Crore
Stamp Charges*0.01% (Max ₹50 per day)

* Except for traders from Maharashtra and Rajasthan

Other Charges

  • Call & Trade: ₹10 per executed order in addition to brokerage charged.
  • Fund Transfer Charge: ₹9 per transaction.

ProStocks Brokerage & Margin Calculators

ProStocks gives traders free access to multiple calculators useful in estimating profits from each trade by understanding brokerage and margin requirements. There are calculators for:

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User Comments

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1. Dipankar  Aug 31, 2018 3:35:55 PM IST Reply
I am using prostocks for over 6 months now. I moved from sharekhan and finding it comfortable so far.

Trading software is reasonable. I pay 15 rs brokerage which is cheap. I mostly call them for trading.

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