Product Details
Brokerage and Fees
Brokerage Charge For Normal Trading: (Normal trading is non-intraday trading where the buyer takes delivery of the stocks): Zero brokerage.
Brokerage Charge For Intraday Trading: INR 15 per trade.
Brokerage Charge For F&) Trading: INR 15 per trade.
Annual Maintenance Charge: INR 0.
Payment Gateway Charges Netbanking: INR 0
Payment Gateway Charges UPI: INR 0
Overdue Interest Charges: 1.5% on the delayed amount.
Monthly Platform Fee: INR 0
Digital KYC Charges: INR 0
Physical Settlement Charges: N.A.
Call & Trade Order: Intraday and F&O: INR 10 per trade. Delivery: INR 25 per trade.
Account Opening Fees
INR 0
Eligibility
Annual Fees
INR 0
ProStocks Review
Special Features
0 charges on equity delivery and flat fee of INR 15 for F&0.
Features
Cons
Not backed by any major financial group.
Limited insight are offered by ProStocks in relation to general market movements in comparison to older players.
Pros
Flat brokerage.
INR 0 brokerage on equity delivery.
24x7 Customer Service: ProStocks offers round-the-clock customer service through their advanced interactive Voice Response (IVR) system.
Simple and clean user interface.
Pros and Cons
How to Apply?
ProStocks offers two methods for opening a trading account: online and offline. Here's a breakdown of both options:
Online Account Opening:
Visit ProStocks Website: Head over to the ProStocks account opening page: https://www.prostocks.com/open-an-account.html
Fill Out the Online Application: Provide your basic details like name, phone number, and email address.
Verify Phone Number: You'll receive a One-Time Password (OTP) on your mobile number for verification. Enter the OTP to continue.
PAN Details and Date of Birth: Fill in your PAN Card number and Date of Birth information.
Detailed Online Application: The platform will guide you through a comprehensive online application form. Here, you'll need to provide personal information like address, occupation, and income details.
Document Uploads: Scan and upload copies of the following required documents:PAN Card (mandatory)
Proof of Address (Aadhaar Card, Driving Licence, Voter ID, or Passport)
Cancelled Cheque from your bank account (linked to your trading account)
Passport-sized Photograph (optional)
KYC Verification:KRA Verification (Optional): If your KYC (Know Your Customer) details are already registered with the Central KYC Registry (CKYC), you can opt for instant verification, eliminating the need for physical document submission.
e-Sign (if not KRA verified): If not KRA verified, you'll need to e-sign the online account opening form electronically.
Account Opening Confirmation: Once all steps are completed and your information verified, your ProStocks account will be opened. You'll receive confirmation and login credentials via email.
Offline Account Opening:
Visit ProStocks Branch: Locate a ProStocks branch near you. Branch locators can be found on their website: https://www.prostocks.com/
Assistance from Representative: A ProStocks representative will be available to assist you with the application process.
Physical Application Form: You'll need to fill out a physical application form and provide original copies of the required documents mentioned earlier (PAN Card, Proof of Address, Cancelled Cheque, Passport-sized Photograph).
Further Guidance: The representative will guide you through further steps and answer any questions you may have.
Account Activation: After processing and verification, your account will be activated, and you'll receive login credentials.pen_spark
Documents Required
Aadhaar.
PAN.
Bank Account
Account Opening and Procedures
ProStocks
ProStocks offers a unique proposition in the Indian discount brokerage game: flat fee pricing with no added charges. If you're a beginner or value-conscious trader who prioritizes low costs and ease of use, ProStocks is worth trying. However, if you rely heavily on advanced research or require a bug-free mobile app, it's wise to compare against other brokers before making your decision.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai