ProStocks, a Sunlight Broking LLP venture, is a recently established, SEBI registered and depository participant discount stockbroker company. Since its inception in February 2016, it is one of the fastest-growing flat-free discount brokers giving a tough competition to the prevailing brokers. They have their headquarters in Mumbai and are listed in NSE and BSE. They have over 2000 active client base. Investors can trade in through ProStocks in segments equity derivatives (F&O), equity cash (Intraday and Delivery), currency derivatives (F&O), NRI trading services and depository services. ProStocks operates online and does not have branches, RMs and other operational costs, thus is cost-effective and offers low brokerage charges to its investors with no hidden costs. It does provide its investors with a flat free trading plan, unlimited monthly and yearly plans for its clients to choose from.
- Lowest exchange transaction charges.
- Zero PCM (professional clearing members) fee.
- Casual investors can trade at flat Rs 15 per executed order.
- Lowest stamp duty charges maximum Rs 50 per day (except Maharashtra).
- Offers flat plans, monthly and yearly plans.
- Refer and earn policy available.
- Nominal Call & Trade charges at Rs 10 per order.
ProStocks Trading Platforms:
ProStocks has its own in-house built trading platforms and also offers trading through NOW – a platform offered through NSE (National Stock Exchange).
- ProStocks Desktop: It is an installable trading terminal, which needs to be downloaded and installed on the desktop. It is best suited for frequent traders. Key features include:
- A fully customized trading application where users can customize the analysis screen, price and percentage alerts and notifications.
- Multiple markets and segments in a single window.
- Advanced ultra-fast real-time charting.
- Aftermarket order placement possible.
- Multiple indices based market watch.
- ProStocks Web: It is a browser-based terminal accessible through any web browser. It is best suited for casual investors and traders. It does not require any installation and application can be accessed through any computer connected to the internet. Key Features include:
- Easily accessible for a range of devices and platform, easy maintenance.
- Fully secured, highly reliable gateway and multi-level authentication.
- Provision of fund transfer and payment gateway with banks.
- Placement of order directly through charts itself.
- Get real-time market quotes and create multiple market-watch lists.
- ProStocks Mobile: It is a fully functional, lightweight mobile trading app best suited for traders who trade on move. It is simple, easy and secure trading app compatible to all mobile operating systems. ProStocks Mobile app has been recently introduced and hence needs improvisation. Bandwidth consumption seems to be high and many features still need to be added on. Key features include:
- Real-time access to quotes.
- Market Watch.
- Highly secure.
- NSE NOW: It is a third-party software offered by NSE (National Stock Exchange) with exhaustive features.
Pro stocks Account Opening Charges:
- Trading Account Opening Charge (one time): 0
- Demat Account Opening Charge (one time): 0
- Trading Annual maintenance charge (AMC): 0
- Demat Account Annual Maintenance Charges (AMC): 0 (one-time refundable deposit of Rs 1000)
ProStocks Brokerage Plan:
ProStocks offers multiple brokerage plans to its customers, which are fixed in nature across all trading segments. The monthly and yearly plans offer unlimited trading across segments irrespective of the value of the trade or number of trades. ProStocks offers:
- Flat Fee Trading Plan.
- Monthly Trading Plan.
- Yearly Trading Plan.
- Flat Free Trading Plan: Under this plan, clients will have to pay flat Rs 15 per trade (buy or sell), regardless of the size of the order. There is no minimum commitment and it is best suited for traders who trade less, but with bigger trade size.
|Equity Delivery||Rs 15 per executed order|
|Equity Intraday||Rs 15 per executed order|
|Equity Futures||Rs 15 per executed order|
|Equity Options||Rs 15 per executed order|
|Currency Futures||Rs 15 per executed order|
|Currency Options||Rs 15 per executed order|
- Monthly Trading Plan: Monthly fee is fixed and no brokerage on turnover. Clients can trade in unlimitedly with no limitation on overall trade value. Best suited for traders having higher frequency and volume.
|Segment||Period||Brokerage Charges||Number of Trades|
|Equity and Equity Derivatives||Monthly||Rs 899||Unlimited|
- Yearly Trading Plan: Yearly fee is fixed and no brokerage on turnover. An unlimited number of orders, trade and quantity, best suited for traders having higher frequency and volume.
|Segment||Period||Brokerage Charges||Number of Trades|
|Equity and Equity Derivatives||Yearly||Rs 8999||Unlimited|
|Equity||Up to 7 times on Delivery, up to 5 times on Intraday|
|Equity Futures||Up to 1.5 times for Intraday|
|Equity Options||Up to 3 times for Intraday|
|Currency Futures||Up to 1.5 times for Intraday|
|Currency Options||Up to 3 times for Intraday|
- The monthly trading plans offered by ProStocks are among the cheapest in the Indian stock brokering landscape.
- ProStocks offer guaranteed lowest exchange transaction charges as they do not include PCM (professional clearing members) fee.
- Lowest stamp duty charges maximum Rs 50 per day (except Maharashtra), which saves a lot for frequent traders.
- Call & Trade charges at Rs 10 per order (lowest among the discount stock brokering).
- No Refer and earn policy available.
- Provision for NRI trading.
- No commodity segment or IPO option
- ProStocks mobile app needs to be improvised.
- Relatively lower exposures across segments.
- No 3-1 account as ProStocks does not offer banking services.
ProStocks does offer competitive brokerage plans and lowest overall charges. The monthly plans offered by ProStocks are the cheapest amongst the brokering landscape. So frequent traders can certainly go for it, but investors do refrain from it as ProStocks is a fairly new entrant in the discount stock brokers. It does need to work on few areas like customer support, its mobile app to permit seamless trading. The trust factor is another concern which will take time to build a potential customer base.