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Alice Blue vs INDmoney (Compare Alice Blue and INDmoney)

So many brokers are offering stock trading & Demat services in India, which one is best, which one provides the services at the lowest price, provides best mobile trading application, the best research team, etc. All answers to your questions would be available here.

Here we provide side by side comparison between Alice Blue vs INDmoney, Below comparison of Alice Blue vs INDmoney highlights the variations of Brokerage charges & services offered, Compare their ratings, brokerage & AMC charges, Investment choices, Customer Service, Demat Account, features, Platforms, and running offers.

One on One comparison of Alice Blue vs INDmoney is given below:

Alice Blue

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INDmoney

	Alice Blue	INDmoney

About The Brokers

Alice Blue :

"Started in 2006, Alice Blue provides Stock & Commodity trading at the lowest brokerage fee and has a network of 17 branches located in major cities along with more th >>> more

INDmoney :

INDmoney is not competing primarily as a discount broker — it is competing as a financial super-app. For investors who want Indian stocks >>> more

Find More Information about the Broker :

Alice Blue :

OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING

INDmoney :

OVERVIEW

Type of Broker

Alice Blue :

Discount Broker

INDmoney :

Discount Broker

Promo/offers

Alice Blue :

Special Offer: Get brokerage FREE equity delivery trading (truly no brokerage) and Flat Rs 15 intranet and F&O trade brokerage. Open Instant Account online with Alice Blue and start trading today.

INDmoney :

N/A

Advantage

Alice Blue :

✔ What Alice Blue Does Well

✓	₹0 AMC lifetime (from Sep 12, 2024) — permanently free
✓	₹0 account opening — fully online, paperless
✓	₹0 API access — free for algo and automated trading
✓	1LY Options — dedicated F&O platform with pre-market reports and option chain
✓	Trade Store — 15+ third-party tools (Sensibull, Smallcase etc.) worth ₹3,000 free
✓	17 branches + 1,000+ partner network — strong South India presence
✓	No inactivity charges — account stays active without penalty
✓	Trade School — education platform with webinars and articles
✓	All segments: equity, F&O, currency, commodity, MF, IPO
✓	No minimum balance required in trading account

INDmoney :

✔ What INDmoney Does Well

✓	9,000+ US stocks from one Indian app — largest US stock coverage
✓	Fractional US stock investing from just $1
✓	US stock SIPs — unique automated US investing from India
✓	₹0 AMC + ₹0 account opening
✓	True super-app: Indian stocks + US stocks + 1600+ MF + FD + NPS + insurance
✓	Net worth tracker aggregating all financial accounts
✓	Family accounts — manage spouse/parents accounts in one dashboard
✓	Tax calculator integrated in-app
✓	SIPC protection on US stocks up to $500,000
✓	MTF 4x at 0.04%/day — competitive rate

Disadvantage

Alice Blue :

✘ Where Alice Blue Falls Short

✗	₹20 delivery brokerage (changed from free in Aug 2024) — Zerodha, Groww, ProStocks, Shoonya offer ₹0
✗	Call & Trade ₹50+GST per trade — highest among major discount brokers
✗	NRI accounts NOT available
✗	Customer support widely reported as slow and scripted
✗	Mobile app reported slower than the web platform
✗	August 2024 delivery brokerage change still confuses many users and is misreported on third-party sites
✗	No 3-in-1 account (no integrated bank account)
✗	DP charge ₹15 — higher than Shoonya (₹9), Fyers (₹12.50), ProStocks (₹13.50)
✗	POA required if portfolio above ₹1 crore / sell exceeds ₹1 crore/day
✗	No demo trading account

INDmoney :

✘ Where INDmoney Falls Short

✗	DP charge ₹18.5+GST — highest among reviewed brokers; impacts regular delivery sellers
✗	Indian F&O brokerage ₹20 — same as standard, no differentiation
✗	No commodity (MCX) trading
✗	No currency (forex) derivatives
✗	No NRI accounts
✗	Customer support reported as slow — 2-3 day email response times
✗	US stock forex conversion 0.5%–1.2% from bank — not INDmoney's charge, but a real cost
✗	No advanced F&O tools vs Dhan/Zerodha
✗	US stock repatriation takes 3–7 business days

Why This

Alice Blue :

Free Delivery Trade, Alice Blue does not charge any brokerage on Delivery trade.
They offer Equity intraday trade at ₹15 or 0.01% (whichever is lower)
Alice Blue provides mutual funds investment at Zero Commission, No transaction charges,
100% paperless online Demat account opening
Advanced Trading Tools- ANT Meta and , ANT Scanner. and other 3rd party tools.
Free trading software's to all its customers.
Trade School an online resource for learning investment concepts and trading skills.
Experience trust of over 20 years as a full-service broker.
Advanced charts and other options like cover order,bracket order and Aftermarket order (AMO) are available
Provides Brokerage & Margin Calculator

INDmoney :

Open Account

Alice Blue vs INDmoney Account Opening & AMC Charges

Alice Blue Trading Account Opening Fee is Rs 150 and - . Alice Blue Demat Account AMC is Rs 400 and - .

	Alice Blue	INDmoney
Trading Account Opening Fee	Trading Account Opening Fee : Rs 150	Trading Account Opening Fee : -
Demat Account Opening Fee	Demat Account Opening Fee : Rs 0	Demat Account Opening Fee : -
Demat Account AMC	Demat Account AMC : Rs 400	Demat Account AMC : -
Trading Account AMC	Trading Account AMC : Rs 0	Trading Account AMC : -

Alice Blue vs INDmoney Brokerage Charges

Alice Blue Brokerage Charges Equity Delivery is Rs 0 (Free) and Equity Intraday is Rs 15 per order or 0.05% whichever is lower and Equity Options is Rs 15 per order . INDmoney Brokerage Charges

	Alice Blue	INDmoney
Plan Name	Plan Name : Freedom Plan (F15)	-
Equity Delivery	Equity Delivery : Rs 0 (Free)	-
Equity Intraday	Equity Intraday : Rs 15 per order or 0.05% whichever is lower	-
Equity Future	Equity Future : Rs 15 per order or 0.05% whichever is lower	-
Equity Options	Equity Options : Rs 15 per order	-
Currency Futures	Currency Futures : Rs 15 per order or 0.05% whichever is lower	-
Currency Options	Currency Options : Rs 15 per order	-
Monthly Fee	Monthly Fee : -	-
Margin Trading	Margin Trading : -	-
Commodity Futures	Commodity Futures : Rs 15 per order or 0.05% whichever is lower	-
Commodity Options	Commodity Options : Rs 15 per order	-

Alice Blue vs INDmoney Exchange Transaction Charges

Alice Blue Exchange Transaction Charges Equity Future is NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 and Equity Options is NSE Rs 5000 per Cr (0.05%) | BSE Rs 3700 per Cr (0.037%) (on premium) . INDmoney Exchange Transaction Charges - and - .

	Alice Blue	INDmoney
Equity Delivery	Equity Delivery : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (each side)	Equity Delivery : -
Equity Intraday	Equity Intraday : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (sell side)	Equity Intraday : -
Equity Future *	Equity Future : NSE Rs 190 per Cr (0.0019%) \| BSE Rs 0	Equity Future : -
Equity Options *	Equity Options : NSE Rs 5000 per Cr (0.05%) \| BSE Rs 3700 per Cr (0.037%) (on premium)	Equity Options : -
Currency Futures *	Currency Futures : NSE Rs 90 per Cr (0.0009%) \| BSE Rs 90 per Cr (0.0009%)	Currency Futures : -
Currency Options	Currency Options : NSE Rs 4000 per Cr (0.04%) \| BSE Rs 100 per Cr (0.001%) (on premium)	Currency Options : -
Commodity	Commodity : Non-Agri Rs 360 per Cr (0.0036%) \| Agri Rs 275 per Cr (0.00275%)	Commodity : -

Alice Blue vs INDmoney Other Charges

Alice Blue Minimum Brokerage is Rs 0 and Call & Trade is Rs 20 per executed order . INDmoney and .

	Alice Blue	INDmoney
Minimum Brokerage	Minimum Brokerage : Rs 0	Minimum Brokerage : -
Call & Trade	Call & Trade : Rs 20 per executed order	Call & Trade : -
Stamp Duty *	Stamp Duty : -	Stamp Duty : -
DP Charges (on sell side)	DP Charges (on sell side) : ₹15 per transaction	DP Charges (on sell side) : -
Other Miscellaneous Charges	Other Miscellaneous Charges : -	Other Miscellaneous Charges : -

Alice Blue vs INDmoney Features

Alice Blue and INDmoney both offer a host of features, trading tools & platforms to their clients. Their comparative analysis is in the below table:

	Alice Blue	INDmoney
Trading Platform	Trading Platform : Front End: ANT \| Back End: Omnesys NEST	Trading Platform : -
Placing orders through charts	Placing orders through charts : Yes	Placing orders through charts : -
Trading Alerts	Trading Alerts : Yes	Trading Alerts : -
Research and Advice / Trading Tips	Research and Advice / Trading Tips : No	Research and Advice / Trading Tips : -
Detailed Education Initiatives	Detailed Education Initiatives : No	Detailed Education Initiatives : -
Unique features & Offers	Unique features & Offers : -	Unique features & Offers : -
Referral Program	Referral Program : 1	Referral Program : -
Margin Against Shares (Equity Cash) *	Margin Against Shares (Equity Cash) : No	Margin Against Shares (Equity Cash) : Yes
Margin Against Shares (Equity F&O) *	Margin Against Shares (Equity F&O) : No	Margin Against Shares (Equity F&O) : Yes

Alice Blue vs INDmoney Demat Account Charges

A comparative table of various demat account charges between Alice Blue and INDmoney is below:

	Alice Blue	INDmoney
Depository Service Provider	Depository Service Provider : CDSL	Depository Service Provider : -
Account Opening Fee	Account Opening Fee : â‚¹0	Account Opening Fee : -
Advance Deposit	Advance Deposit : â‚¹0	Advance Deposit : -
AMC	AMC : â‚¹400 per year	AMC : -
Dematerialisation Charges	Dematerialisation Charges : â‚¹10 per certificate + â‚¹50 per request	Dematerialisation Charges : -
Rematerialisation Charges	Rematerialisation Charges : â‚¹30 per request + CDSL Fee + â‚¹10 per 100 securities	Rematerialisation Charges : -
Transaction Charges (Credit)	Transaction Charges (Credit) : -	Transaction Charges (Credit) : -
Transaction Charges (debit)	Transaction Charges (debit) : 0.04% of the value of the transaction (minimum â‚¹20)	Transaction Charges (debit) : -
Pledge Creation Charges	Pledge Creation Charges : 0.04% of the value of the transaction (minimum â‚¹40)	Pledge Creation Charges : -
Pledge Creation Confirmation Charges	Pledge Creation Confirmation Charges : â‚¹0	Pledge Creation Confirmation Charges : -
Pledge Invocation Charges	Pledge Invocation Charges : 0.04% of the value of the transaction (minimum â‚¹40)	Pledge Invocation Charges : -
Failed Instruction Charges	Failed Instruction Charges : -	Failed Instruction Charges : -
Other Charges	Other Charges : Power of Attorney (PoA): â‚¹150 Courier Charges: â‚¹100 per request Additional DIS Booklet: â‚¹100 per booklet	Other Charges : -

Alice Blue vs INDmoney Basic Details

Alice Blue and Total Number of Clients is 163460 and . INDmoney and Total Number of Clients is 838493 and .

	Alice Blue	INDmoney
Year of Incorporation	Year of Incorporation : -	Year of Incorporation : -
Active Exchange Memberships	Active Exchange Memberships : NSE, BSE, MCX	Active Exchange Memberships : -
Demat Services	Demat Services : No	Demat Services : -
Website	Website : www.aliceblueonline.com	Website : -
Contact Details	Contact Details : 080-61575500\|080-45490850	Contact Details : -
Total Number of Clients	Total Number of Clients : 163,460	Total Number of Clients : 838,493
Total Number of Branches	Total Number of Branches : -	Total Number of Branches : -
Products *	Products : Mutual Fund, Equity, Currency & Commodity	Products : -

Alice Blue vs INDmoney Orders

Orders

	Alice Blue	INDmoney
Cover Orders (CO)	Cover Orders (CO) : Yes	Cover Orders (CO) : -
Bracket orders / One Cancels Other (BO / OCO)	Bracket orders / One Cancels Other (BO / OCO) : Yes	Bracket orders / One Cancels Other (BO / OCO) : -
After Market Orders (AMO)	After Market Orders (AMO) : Yes	After Market Orders (AMO) : -
Buy Today Sell Tomorrow (BTST) *	Buy Today Sell Tomorrow (BTST) : Yes	Buy Today Sell Tomorrow (BTST) : Yes
Sell Today Buy Tomorrow (STBT) *	Sell Today Buy Tomorrow (STBT) : Yes	Sell Today Buy Tomorrow (STBT) : Yes
Good Till Cancelled (GTC) *	Good Till Cancelled (GTC) : No	Good Till Cancelled (GTC) : Yes

Alice Blue vs INDmoney Research and Advice / Trading Tips

Research and Advice / Trading Tips

	Alice Blue	INDmoney
Equity Trading Recommendation *	Equity Trading Recommendation : No	Equity Trading Recommendation : -
Equity Investment Recommendation *	Equity Investment Recommendation : No	Equity Investment Recommendation : -
Recommendation basis risk Profile *	Recommendation basis risk Profile : No	Recommendation basis risk Profile : -
Comparison *	Comparison : No	Comparison : -
Free Tips *	Free Tips : No	Free Tips : -
Daily Market report *	Daily Market report : Yes	Daily Market report : -
ETF research *	ETF research : No	ETF research : -
Quarterly Results *	Quarterly Results : No	Quarterly Results : -

Alice Blue vs INDmoney Franchisee / Authorized Person related information

Franchisee / Authorized Person related information

	Alice Blue	INDmoney
Availability for franchisee / AP	Availability for franchisee / AP : -	Availability for franchisee / AP : -
Investment required for Franchisee / AP	Investment required for Franchisee / AP : -	Investment required for Franchisee / AP : -

Alice Blue vs INDmoney Product & Services

Alice Blue and INDmoney both offer a host of Products & Services for a better trading experience for their clients. Their comparative analysis is in the below table:

	Alice Blue	INDmoney
Delivery Based Trading *	Delivery Based Trading : Yes	Delivery Based Trading : -
Margin Trading *	Margin Trading : No	Margin Trading : -
Call N Trade *	Call N Trade : Yes	Call N Trade : -
Trading in Both the exchanges *	Trading in Both the exchanges : Yes	Trading in Both the exchanges : -
Limit Order *	Limit Order : -	Limit Order : -
3-in-1 On-line Trading Account *	3-in-1 On-line Trading Account : No	3-in-1 On-line Trading Account : -
NRI Services *	NRI Services : No	NRI Services : -
SMS Alerts *	SMS Alerts : No	SMS Alerts : -
Offers Multiple Plan *	Offers Multiple Plan : No	Offers Multiple Plan : -
IPO Investment *	IPO Investment : No	IPO Investment : -
Portfolio Analysis *	Portfolio Analysis : No	Portfolio Analysis : -
Advanced Charting Features *	Advanced Charting Features : Yes	Advanced Charting Features : -
Brokerage Calculator *	Brokerage Calculator : Yes	Brokerage Calculator : -
Margin Calculator *	Margin Calculator : Yes	Margin Calculator : -
Stop Loss Order *	Stop Loss Order : Yes	Stop Loss Order : -
Bracket Orders & Trailing Stop Loss *	Bracket Orders & Trailing Stop Loss : Yes	Bracket Orders & Trailing Stop Loss : -
Equity Future & Option Trading *	Equity Future & Option Trading : Yes	Equity Future & Option Trading : -
Currency Future & Option Trading *	Currency Future & Option Trading : Yes	Currency Future & Option Trading : -
Market Trading *	Market Trading : Yes	Market Trading : -
Monthly & Yearly Plan *	Monthly & Yearly Plan : No	Monthly & Yearly Plan : -
Aumtomated Trading *	Aumtomated Trading : Yes	Aumtomated Trading : -

Alice Blue vs INDmoney Customer Services

Alice Blue and INDmoney both offer a host of Customer service options to their clients to quickly solve their queries or grievances if any. Their comparative analysis is in the below table:

	Alice Blue	INDmoney
Toll Free Number *	Toll Free Number : No	Toll Free Number : -
Live Chat Facility *	Live Chat Facility : No	Live Chat Facility : -
Email Facility *	Email Facility : Yes	Email Facility : -
Branch Offices *	Branch Offices : Yes	Branch Offices : -
Customer Care *	Customer Care : No	Customer Care : -
Community Service *	Community Service : No	Community Service : -
Relationship Manager *	Relationship Manager : No	Relationship Manager : -
24/7 Support *	24/7 Support : No	24/7 Support : -

Alice Blue vs INDmoney Other Investement

Alice Blue and INDmoney both offer a lot of investment avenues apart from Stock trading on their platforms to their clients to make a better trading experience. Their comparative analysis is in the below table:

	Alice Blue	INDmoney
Commodity Trading *	Commodity Trading : Yes	Commodity Trading : -
Investment in ETFs *	Investment in ETFs : Yes	Investment in ETFs : -
Investment in Mutual Funds *	Investment in Mutual Funds : Yes	Investment in Mutual Funds : -
Investment in Bonds *	Investment in Bonds : No	Investment in Bonds : -
Investment in Corporate Debt instruments *	Investment in Corporate Debt instruments : Yes	Investment in Corporate Debt instruments : -
Insurance Services *	Insurance Services : No	Insurance Services : -
Banking Services *	Banking Services : No	Banking Services : -

Alice Blue vs INDmoney Trading Platform

Alice Blue and INDmoney both offer a host of Trading Platform for a better trading experience for their clients. Their comparative analysis is in the below table:

	Alice Blue	INDmoney
Web Platform *	Web Platform : Yes	Web Platform : -
Android Mobile App *	Android Mobile App : Yes	Android Mobile App : -
Desktop Windows *	Desktop Windows : Yes	Desktop Windows : -
Desktop Mac *	Desktop Mac : No	Desktop Mac : -
I-Pad App *	I-Pad App : Yes	I-Pad App : -
Virtual Trading *	Virtual Trading : No	Virtual Trading : -
iPhone Mobile App *	iPhone Mobile App : Yes	iPhone Mobile App : -
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