ProStocks: Trading & Demat Account, Reviews, Charges: 2024

Founded in 2016, ProStocks is the Online venture of Sunlight Broking LLP- one of India's top stock broking companies.  It is known to offer convenient trading at economical rates. Being an online venture ProStocks prides itself in not indulging with any overhead costs like branch offices, Relationship managers and expensive advertisements in order to offer low-cost transactions and plans. ProStocks is the cheapest broker for unlimited trading plans which intends to start providing mutual fund services soon.

ProStocks: An Overview

It is a Mumbai-based company founded by SP Toshniwal (present CEO) and Saurabh Ranka which allows its clients to trade and invest in the companies listed on the BSE and NSE exchanges. It facilitates trading in segments like Equity cash, Derivative Trading, Currency trading and Intraday Equity. The 2-in-1 Demat and trading account feature makes transactions handy and convenient. They also offer NRI trading services with zero additional account fee and only a one time refundable deposit of Rs. 1000.

For Indian traders it follows 3 easy plans:

1. Unlimited Monthly Plan: This includes unlimited equity and derivative trading at Rs.899/- and unlimited currency trading at Rs499 only.

2. Flat Fee Plan: A flat fee plan which requires no brokerage and just Rs.15/- per executed trade It is suitable for less frequent traders and investors.

3. Unlimited Yearly Plan: You have to pay a flat fee of Rs. 8999/- which includes no further brokerage, price locking and unlimited orders. You can do unlimited currency trading for Rs.4999 only. It is a comparatively cheaper unlimited plan than most of ProStocks competitors.

Thr broker also offers a referral programme wherein you can refer ProStocks to friends and family and earn 10% of brokerage earned from your referral. As far as after sale support services are concerned, ProStocks maintains a strong customer facility via phone or email to resolve any technical or account related query. For trading calls the cost is Rs10/- per call and Rs25/- for delivery for placing orders.

ProStocks Trading Platform and Tools

The broker offers website-based, Desktop based as a trading terminal version and mobile based as application version available on both android and IOS store.

Prostocks Web:

It allows you to trade using the internet with no additional installation required. It runs on HTML 5 browser base and is convenient for multi-screen access to real time news and trading tips. It has high security with a very frequent password reset policy.

Prostocks Desktop:

It is a downloadable version of the software and acts as a fully functional trading terminal with fast delivery of transactions and real-time monitoring. You will need admin access to install the desktop application version. However, this is not applicable on MAC acting as a limitation for apple users.

Prostocks Mobile:

It a handy and easy-to-use mobile application version compatible with android, IOS, Blackberry and Java enabled phones. It a reliable and simple trading app.