ProStocks Review: The Cheapest Discount Broker in India [2019]

Pro Stocks Review

Sign up & stay updated about the financial markets

Promise – we don’t spam.

Prostocks, one of the recent flat fee discount brokers offering trading and Demat accounts, is known to offer the lowest brokerage charges. Founded in 2016 with headquarters in Mumbai, the broker has grown quickly to a client base of around 2500 this year. A venture of Sunlight Broking LLP, Prostocks was established by Saurabh Rank and SP Toshniwal.

The SEBI registered broker and a member of BSE & NSE allows its clients to trade across various segments including Equity cash, Equity derivatives, Currency derivatives, and mutual funds among others. Being the cheapest broker, Prostocks is known to offer unlimited trading as well as flat-fee per trade plans.

Open Account and Start Trading


You have taken the first step.
An expert will call you shortly.

Read : Our updated review on Prostocks for the year 2020

ProStocks Technology

Instant Account Opening: The broker is also known to offer instant account opening service through the paperless approach. Traders can get started with this 100% online service by using Aadhar card only.

Advanced Calculators: In addition to ease of account opening, the platform also allows users to easily calculate margin trading fee and brokerage applicable per trade by using dedicated advanced calculators.

Powerful Back Office: All the functions and features of this platform are supported by a powerful back office.

ProStocks Trading Platform

It offers a range of trading platforms built in-house by a team of developers. Besides, users can also trade using NOW, an NSE platform with a Prostocks account.

ProStocks Desktop

An installable trading terminal, ProStocks Desktop can be downloaded and installed on a desktop computer or a laptop. The trading platform is considered most suitable for frequent traders.

ProStocks Desktop

Key features of ProStocks Desktop:

  •   A fully customizable application that allows users to make changes to the analysis screen as well as alerts & notifications for price & percentage
  • Single window view for multiple markets and segments
  • Ultra-fast charting in real-time using advanced technology
  •  Ability to place after market orders
  • Customizable market-watch comprised of multiple indices
ProStocks Web 

This is a browser-based terminal that a user can access through any compatible web browser. Eliminating the need for installation and maintenance, the platform is considered suitable for casual investors. Besides, one can also access it from any computer that is connected to the internet.

Prostocks Web

Key Features of ProStocks Web:

  •  Can be accessed easily through a range of device and platform types
  •  Easy to maintain
  • Highly reliable and fully secured gateway with multi-level authentication
  •  Integrated fund transfer and payment gateways
  • Allows placing order directly through charts
  • Offer real-time market quotes
  •  Allows creating a watch list from multiple market indices
ProStocks Mobile 

ProStocks Mobile is a lightweight, fully functional trading platform in the form of a mobile app. Suitable for on-the-move traders, the simple, secure, and easy-to-use app is compatible with multiple mobile operating systems. However, since the app is the most recent addition to ProStock’s platforms, it is reported to consume high bandwidth and needs improvements.

ProStocks Mobile App

Key Features of ProStocks Mobile include:

  • High security
  • Real-time market watch
  •  Real-time quotes

 You can download the app here


A 3rd party software, NOW, allows registered ProStock users to access the platform’s trading features. Since the tool is developed and maintained by NSE, there is no direct/indirect control of the broker towards implementing or using this app.


Key Features of NSE NOW:

  • Comprises of a comprehensive set of features
  • Offers access to various heat maps and charts to analyze stocks at both fundamental and technical levels
  • Allows users to customize dashboard widgets, notifications, and alerts
  • However, there are a few concerns related to the use of this platform as well:
  •  Beginners will find it hard to understand and get used to the platform’s navigation
  •  In case of any problem with the app, users won’t be able to get much help from ProStocks.

ProStock Pricing

The total pricing applicable to a trader is divided into the following segments:

  • Account Opening Charges
  • Brokerage Charges
  • Exchange Transaction Charges
  • Margin

From among these, exchange transaction charges and government taxes are applied by SEBI and government respectively and are fixed.

Account Opening Charges

ProStock gains an upper hand over other brokers by charging zero-cost on account opening from its clients. Thus, one can get trading and Demat accounts opened without paying anything. Plus, there is no Annual Maintenance Charge (AMC) as well.

Trading Account Opening Charges (One Time)0
Trading Annual Maintenance Charges0
Demat Account Opening Charges (One Time)0
Demat Annual Maintenance Charges(Yearly Fee)0
Prostocks Brokerage Charges

The broker has gained popularity among traders for offering unlimited trading plans, known to be the cheapest among others. While there are separate plans for equity and currency derivatives, ProStocks also offers flat-fee per executed order for casual traders.

Different brokerage plans offered by the broker are as follows:

 Flat Fee Trading Plan

Under this plan, the broker charges a flat fee of INR 15/- for every executed order. This plan is considered the best choice for traders with less frequency of trading. Here are the details of Prostock’s Flat fee trading plan.

SegmentBrokerage Fee
Equity Delivery₹15 per executed order
Equity Intraday₹15 per executed order
Equity Futures₹15 per executed order
Equity Options₹15 per executed order
Currency Futures₹15 per executed order
Currency Options₹15 per executed order
Commodity Futures₹15 per executed order
Commodity Options₹15 per executed order
Unlimited Monthly Plan 

Under this plan, users can trade for any amount/quantity without paying any extra brokerage for every trade. This plan can be availed with a one-time fee of INR 899 for equity & derivatives and INR 499 for currency derivatives for the entire month.

SegmentBrokerage Fee
Equity and Derivatives₹899 per month
Currency₹499 per month
Unlimited Annual Plan 

Traders can also avail unlimited trading plans for a complete year by paying INR 8999 for equity and its derivatives and INR 4999 for currency derivatives.

SegmentBrokerage Fee
Equity and Derivatives₹8999 per month
Currency₹4999 per month
Transaction Charges

Apart from account opening and brokerage charges Prostocks also levies transaction charges on its clients. Here are the details below:

SegmentTransaction Fee
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.00190%
Equity Options0.050%
Currency Futures0.00110%
Currency Options0.04%
Prostocks Margin

Prostocks is known to provide pretty good margin facilities to its clients which are very competitive with their peers. Here are the margin details below:

Trading SegmentMargin
Equity DeliveryUpto 7x
Equity IntradayUpto 5x
Equity FutureUpto 1.5x
Equity OptionsUpto 3x
Currency FuturesUpto 1.5x
Currency OptionsUpto 3x

ProStocks Customer Service

The discount broker has equipped its clients with several channels through which they can avail assistance regarding any query or complaint, including:

  •  Phone Support (by providing a number for clients to call or by offering a callback feature that can be accessed through a simple form)
  • Website (by filling a contact form on site)
  •  Email Support
  • FAQs and User Guides provided on the website

The customer service helpline (phone call) is available from 9 am to 5 pm for Call & Trade-related queries, from 9 am to 8 pm for Account Opening related queries, and from 8:30 am to 7 pm for Support related queries. Trading & Demat account holders can call on +91 2262434343 for support on call.

Apart, email support is offered for Support related queries through [email protected] and for Account Opening related queries through [email protected]

 Consumer Complaint Report

This report is an indicator of how the discount broking firm works towards resolving the complaints registered against them at NSE. Looking at this report they seem to be doing reasonably well in this department. Kindly find the details of the report below:

ExchangeFinancial YearNumber of ClientsTotal Complaints

To access the complete list of complaints registered against brokers with NSE, just click on this link

Bottom Line – The Cheapest Discount Broker that needs more Time to Build Trust

ProStocks stands ahead of the competition with its cheapest unlimited brokerage plans but still needs to improve in certain areas like the quality of its trading software and customer service, although it has grown significantly in its starting years. 

The mobile app is relatively new and needs to go through a few updates and the broker needs to build more reputation in the market to attract heavy traders and investors.

ProStocks Review

Best Broker India

Customer Service
Web Trading Platform
Mobile Platform
Educational Material



Sign up & stay updated about the financial markets

Promise – we don’t spam.

Related Articles