(Last Updated On: March 11, 2019)

ProStocks is a fast growing discount broker offering Demat and Trading Account services. So, here is an exclusive ProStocks Review covering features, account opening charges and ProStocks brokerage charges.

Pro Stocks: An Overview

Prostocks, a venture of Sunlight Broking LLP founded in Feb 2016 by S P Toshniwal and Saurabh Ranka. It is an online Discount broking company. Prostocks offers its customer to trade in NSE and BSE in the segment like Equity Cash, Equity Derivatives, Currency Derivatives and Demat services.

Key features offered to customers are:

  • Flat rate pricing
  • Trading platform flexibility
  • Brokerage calculator
  • Superior customer service

Pro Stocks: Product and Services

  • Equity Trading
  • Derivatives
  • Currency
  • Depository Services

Demat Fees

Transaction DetailsFee Charged
Demat Account opening chargesNil

Annual Maintenance Charges:
Individual
Corporate
Nil (Rs.1000 one time refundable deposit)
Nil (with Rs.1000 one time refundable deposit) + Rs.500 CDSL fee at actual


Transaction Charges per ISIN (Market Trades)
Buy ( Receive)
Sell ( Debit)
Nil
Rs.8+ Rs.5.5 flat for every debit transaction
DematerializationRs.50/ setup
RematerializationRs.50/ setup + CDSL charges
Courier charges per Demat/ Remat requestRs.50
Pledge0/ setup
UnpledgeRs.50/ setup
Pledge InvocationRs.50/ setup
Adhoc / Non Periodic Statement Requests:
By Email
By Physical
Rs. 10/ request
Rs. 50/ request (up to 10 pages). Every additional page at Rs.5+ Rs 50 courier charges
Delivery Instructions:
First Delivery Instruction Book
Every Additional Booklet
Free (5 leaves)
Rs.100 (10 leaves)
Cheque Bounce/ Per chequeRs.250
Failed TransactionsRs.50/ ISIN
Modification in CMLRs.25/ request
KRA Upload / DownloadRs. 50
Service Tax will be applicable on all above charges.

Prostocks Brokerage Plans and Charges

Unlimited Monthly Plan

This Prostocks brokerage plan is suitable for active traders with high frequency and volume. The trader enjoys unlimited trades with no need to pay brokerage on any amount of transaction.

  • Rs 899/month: Unlimited Equity And Equity Derivatives Trading In An Exchange

Flat Fee Plan

Traders are charged Rs 15/ trade flat brokerage for trades executed at an exchange. The scheme is ideal for traders with less frequency.

Unlimited Yearly Plan

A yearly brokerage plan with no limit of quantity of trade. The plan is suitable for active traders having higher frequency and volume.

  • Rs. 8999- Unlimited Equity and equity derivatives trading In an exchange
  • Rs. 4999- Unlimited Currency trading in an exchange

NRI Trading Plan

The scheme offers NRI with the cheapest brokerage plan. It offers a flat rate of Rs. 100 on investment in equity, Exchange traded funds (ETFs) and trade in futures & options segment.

  • Rs. 100/ executed trade
  • Zero AMC for Demat & trading account.
ALSO READ  Best Demat Account with Lowest Brokerage Charges in India: Review 2019

Transaction charges

Equity IntradayNSE: Rs.325 per Crore
BSE: Rs.300 per Crore
Equity DeliveryNSE: Rs.325 per Crore
BSE: Rs.300 per Crore
Equity FuturesNSE: Rs.190 per Crore
BSE: Rs.50 per Crore
Equity OptionsNSE: Rs.5000 per Crore
BSE: Rs.2500 per Crore
Currency FuturesNSE: Rs.90 per Crore
BSE: Rs.22 per Crore
Currency OptionsNSE: Rs 4000 per Crore
BSE: Rs 100 per Crore

Prostocks Review, Prostocks demat account, Prostocks brokerage, discount broker

ProStocks Trading Platform

Prostocks offers two types of trading application for Desktop, web, and mobile for the high-quality trading experience. The platform is available free of cost for all customers.

  • Prostocks- It is in-house developed trading platforms
  • NSE NOW- NOW (NEAT on Web) platform is provided by NSE

In-House Trading Platforms

1. Prostocks Desktop:

This is an advanced trading software for the frequent and high-value traders. The trading application has advanced market tools to identify and measure trend strength, analyze price movements and make strategies. Features of Prostocks desktop application are:

  • Fully customize trading application
  • Multiple Market watch
  • Advance Ultra-Fast real time charting for investor and professional
  • Inbuilt option strategies
  • Advance action watch
  • Bulk trade watch
  • Place After Market orders (AMO)
  • Secure online fund transfer

2. Prostocks Web:

The trader can access the terminal from any standard web browser. It has all the features of a desktop application within the browser window.

3. Prostocks Mobile:

The application is available for both ios and android platform helps to track the market on move with ease.

NSE NOW

1. NOW Desktop:

It offers a customizable platform with advanced technologies. professional tools, charts, and many features. Trading using this platform is considered more responsive and faster than other desktop application.Features of this application are:

  • Completely customizable platform.
  • Multiple watchlists, streaming live quotes, news and charts.
  • Advanced order types like bracket order and after- market order.
  • All in one stock, derivative and currency trading.

2. NOW Web: 

Available in the web browser that saves the hassle of downloading and installing software. This can be accessed from multiple systems. Key features of NSE NOW are:

  • Flexible order entry
  • Fast and quality execution
  • Real-time streaming quotes
  • Interactive charts

3. NOW Mobile:

Available in IoS, android, windows and blackberry devices. The app gives you the flexibility to track and analyze market from mobile devices. Key features of the app are:

  • Light and adaptable
  • Simple and navigation
  • Real time news feed
  • Customizable account settings

How to open Prostocks Account? Process & Documents

You can open an account in Prostocks through online application or by sending the filled up application form by courier.

1. Online Application:

Through online mode, you need to perform the below steps:

ALSO READ  Angel Broking App ARQ : Your Personalised Automated Investment Tool
  • Fill the application and submit necessary documents for eKYC verification.
  • Pay for Brokerage Plan( if any) and Demat Charges.
  • Send the printed form duly signed by customer by courier.
  • After receipt of the printed form your account gets activated.

2. Offline mode:

In offline mode, you need to download, print and fill the application form. You need to courier it with the necessary supporting documents which includes:

  • Photocopy of PAN card and address proof with signature.
  • Photocopy of last 6 months bank statement or last year’s Income Tax Return or six-month salary slip duly signed.
  • Copies of all other documents submitted should be self-attested.
  • Cancelled cheque to link your primary bank account.
  • Trading account documentation fee cheque of Rs 300 payable to “Sunlight Broking LLP”.

Stock Brokers Comparison

FeaturesProstocksUpstoxAngel Broking Reliance Securities
Service TypeDiscount BrokerDiscount BrokerFull ServiceFull Service
Account opening costNilNilNilRs 950
Brokerage

Rs. 15 FlatRs. 20 Flat0.016- 0.4%0.05-0.5%
Margin (equity)Intraday- upto 10x
Delivery- 1 time
Intraday- upto 25x
Delivery- Nil
Intraday- 10 times
Delivery- 3 times
Intraday- 10 times
Delivery- 4 times
Exchange EnabledNSE and BSENSE, BSE, and MCXNSE, BSE, MCX, NCDEX, NMCE and MCX-SXNSE, BSE, MCX, NCDEX, NMCE and MCX-SX

Investing through Prostocks: Pros & Cons

Pros:

  • Low charges in terms of brokerage, transaction charge, stamp duty etc.
  • Lifetime AMC free Trading & Demat account.
  • A responsive customer service
  • Trading platform from both Prostocks and NSE available free of cost to all customers.
  • Account opening procedure is managed online.
  • Referral program for existing customers in which Prostocks offers 10% brokerage of referred clients.
  • Special Brokerage plan for NRI customers.

Cons:

  • Commodity trading and Mutual Fund segment are not available
  • Margin on equity, derivative segment is low comparative to other discount brokers.

Prostocks Review: The Bottom Line

Online discount broking companies are getting popular among investors. This is due to its cost saving approach on investment and maximizing profits. Prostocks is one of the new players in this segment. It offers a Flat Rs 15/ trade to customers. It’s free of charge advanced trading platforms from NSE and inbuilt prostocks trade terminal for its customer seem good.

One aspect of having an account with discount brokers is, investors need to do their own research. But, it is commensurate with cheap brokerage plans. On terms of services offered, it lags in few segments and margin provided is also less than other discount brokers.

Frequently asked Questions

Q. How do I know the status of my account opening?

  • Step 1: The KYC team sends an email about receipt of the documents once all the account opening documents are received.
  • Step 2: The KYC team verifies the documents and request for in-person verification (IPV), if required.
  • Step 3. Once in-person verification is done, they give customers a welcome call. Your details shall be validated over the phone.
  • Step 4: When the verification is complete, a welcome email is sent to the customer with account related information.
ALSO READ  Demat Account: Meaning, Importance & How to open Demat Account?

Q. Is it chargeable to trade for BSE in NOW trading terminal at ProStocks?

A. No. All trading application provided by ProStocks are free.

Q. Where do I post my queries related to account opening?

A. You can go to click to call link on account opening section and ProStocks representatives will call you as soon as possible. You can also write an email to crm@prostocks.com  for any of your queries or can call customer care.

Q. What are the ProStocks account opening charges?

A. Their account opening charges are Rs 300, which is waived currently as a promotional offer. So, the trading as well as Demat account are zero AMC. Although, you might be charged Rs 1000 refundable deposit for Demat account. 

Q. Do ProStocks provide margin funding?

A. No, ProStocks do not provide margin funding to trade in equity cash delivery segment.

Q. When and which intraday trades are squared off?

A. All intraday position/trades resulting from order type MIS  and CO will be squared off at pre-specified time. Say 03:15 pm for equity and equity derivatives and 04:30 pm for currency derivatives or upon reaching mark to market loss limit, whichever is earlier.

Disclaimer: There is a high degree of risk involved in stock trading. Mutual funds are also subject to market risk. The details given on this website are for informational purpose only. It should not be constituted as professional advice in any regard. Please do thorough research and clarify all the details with the respective brokers before investing your money.

Have you opened your Demat and Trading account? Which stock broker you prefer? Do you like investing through full service brokers or discount brokers? Feel free to share your opinions.

Pro Stocks: Demat & Trading Account Review, Brokerage Chargeshttps://fintrakk.com/wp-content/uploads/2019/03/Prostocks-1024x683.jpghttps://fintrakk.com/wp-content/uploads/2019/03/Prostocks-150x150.jpgadminStock Brokersdemat account,discount broker,Prostocks,Prostocks brokerage,Prostocks demat,Prostocks review,trading accountProStocks is a fast growing discount broker offering Demat and Trading Account services. So, here is an exclusive ProStocks Review covering features, account opening charges and ProStocks brokerage charges. Pro Stocks: An Overview Prostocks, a venture of Sunlight Broking LLP founded in Feb 2016 by S P Toshniwal and Saurabh Ranka....Personal Finance Blog