₹20 Flat brokerage all segments		₹0 AMC — lifetime free		₹15 DP charge per scrip
₹0 API access — free		1.16L Active clients (Jun 2025)		3.8/5 CSB Rating

Alice Blue Financial Services Private Limited is a Bangalore-based discount broker founded in 2006 by Sidhavelayutham Mohan. It is registered with SEBI (INZ000156038) and is a member of NSE, BSE, MCX, and MSE (MCX-SX). Alice Blue is also a CDSL depository participant (IN-DP-364-2018). With 1.16 lakh active clients as of June 2025, Alice Blue has a strong regional presence — particularly in South India — with 17 direct branches and over 1,000 partner/franchise offices nationwide, a physical network that most pure-play discount brokers don't match.

Two important pricing changes define the current Alice Blue product in 2026. First, in August 2024, Alice Blue revised its Freedom15 plan brokerage from ₹15/order to ₹20/order and introduced brokerage on equity delivery (previously free). This is a meaningful change that many third-party review sites still report incorrectly. Second, from September 12, 2024, Alice Blue made AMC completely free for lifetime — eliminating the ₹400/year AMC that previously applied. This is a significant positive for long-term account holders.

The platform stands out for its trading tool ecosystem: the ANT platform (web, mobile, desktop) backed by Omnesys NEST PLUS, the dedicated 1LY Options F&O platform with pre-market reports and option chain integration, a Trade Store giving access to 15+ third-party tools (Sensibull, Smallcase, and more) worth ₹3,000 free, and a Trade School education platform. Free API access for algo traders completes the picture. For its price point, Alice Blue offers a notably rich ecosystem.

Brokerage charges

3.6

Trading platform

4.0

Mobile app

3.7

Account opening

4.2

Physical presence

4.4

Customer support

3.2

Tools & ecosystem

4.3

Transparency

3.8

Overall Rating

3.8

Ratings based on independent testing, verified user reviews, SEBI complaint data, and platform benchmarking. Updated March 2026.

All charges verified from aliceblueonline.com/pricing (official page), Chittorgarh, InvestorGain, and Finec as of March 2026. Important: Two major pricing changes took effect in 2024 that many third-party sites still misreport.

ANT (Analyse and Trade) is Alice Blue's flagship platform, available as ANT Mobi (mobile app), ANT Desk (desktop software), and ANY Web (browser-based). The backend is powered by Omnesys NEST PLUS — the same institutional-grade order management system used by over 200 of India's top brokers. Features include real-time streaming data, 100+ technical indicators, 10+ chart types, and a 12-element stock analysis toolkit. It is a capable, reliable platform for equity and derivatives trading.

1LY Options is Alice Blue's dedicated platform for F&O traders, available at the official site. It provides charts, order management, option chain integration, market insights, and pre-market reports all in one place. User reviews on the official site highlight the auto-candlestick feature (instant pattern recognition without manual searching) and pre-market reports as particularly useful for options traders who want to plan trades before market open. 1LY Options is free for Alice Blue account holders.

The Trade Store is Alice Blue's integrated marketplace of third-party trading tools and platforms accessible to account holders. This includes Sensibull (options analytics and strategy builder), Smallcase (thematic stock basket investing — ₹100 one-time fee), and 15+ other tools worth a combined ₹3,000 in subscription value, provided at no additional cost. This is a meaningful differentiator — most brokers charge separately for Sensibull or Smallcase access.

Trade School is Alice Blue's investor education platform with webinars, articles, and trading courses. Combined with 17 direct branches and over 1,000 partner offices across India (with particularly strong penetration in Tamil Nadu, Kerala, and Karnataka), Alice Blue offers a physical support infrastructure that most discount brokers don't match. For first-generation investors in tier-2 and tier-3 cities, this offline availability is genuinely valuable.

• You want ₹0 AMC permanently — from September 12, 2024, Alice Blue charges no AMC ever. Combined with free account opening, the annual maintenance cost is zero.
• You trade F&O actively and want platform tools — 1LY Options platform, free Sensibull access via Trade Store, and free API give F&O traders a capable environment at standard ₹20 brokerage.
• You are in South India and want a branch nearby — Alice Blue's 1,000+ partner network and 17 direct branches are a genuine advantage in Tamil Nadu, Kerala, and Karnataka for users who prefer some offline support access.
• You are a retail algo trader — free API + standard ₹20 brokerage. Not as cheap as Shoonya's ₹5, but ₹0 AMC and ₹0 API with a capable platform is a reasonable setup.

• You want free delivery brokerage — Alice Blue changed this to ₹20 in August 2024. Zerodha, Groww, ProStocks, and Shoonya offer free delivery.
• You make frequent phone orders — Call & Trade at ₹50+GST per trade is the highest among major discount brokers. Always use the app or web instead.
• You are an NRI — not available. Consider Angel One, Shoonya, or ProStocks.
• You need the lowest brokerage possible — at ₹20/order, Alice Blue is standard, not cheapest. Shoonya (₹5) and ProStocks (₹15) are cheaper for intraday and F&O.

1	Visit aliceblueonline.com — Click Open Account. Enter mobile number, verify OTP and email.
2	PAN + Aadhaar eKYC — PAN and date of birth verified from database. Aadhaar via KYC database or manual entry + OTP.
3	Bank details, address + personal details — Occupation, income, tax details, nomination. Documents uploaded digitally.
4	Selfie IPV + e-sign — In-person verification via camera. Aadhaar OTP-based digital signature on KRA and account form.
5	Account activation — Same working day after manual verification. Login credentials via email. Access ANT, 1LY Options, and Trade Store immediately.

Alice Blue Financial Services (P) Ltd is SEBI-registered (INZ000156038), a member of NSE, BSE, and MCX, and a CDSL depository participant (IN-DP-364-2018). Your shares are held in your own CDSL demat account, completely independent of Alice Blue's operations. Founded in 2006 and with nearly two decades of regulated broking history, Alice Blue has no major violations reported. The 17-branch physical network adds operational credibility beyond the purely online discount broker model. Customer support quality is the most consistent complaint area in user reviews, though the physical partner network provides an alternate resolution channel.