ProStocks OVERVIEW

Prostocks broker is an upcoming brokerage. Therefore, they have adopted the technique of referral program where you can refer friends, fellow traders, family, and colleagues to earn 10% of brokerage charged from them.

They are highly digitalized and hassle-free. Most of their processes are online including the account opening process. You don't need to send them any document or the signed form. All the process can be completed online.

They provide highly comparative brokerage at the rate of Rs. 15 per executed order for trading across equity, derivatives, or currency segment.

Opening an Account with ProStocks

For investment in the stock market, an investor has to open an account. If they want to trade with Prostock they should open an account with Prostock itself, and we have mentioned the way you can open the account with Prostock:

• Prostock provides the facility of eKYC, and their clients do not have to meet the hassle of visiting the branch to complete the process of KYC. Their entire online process is online, and the customer has to submit a copy of the following documents to open the account with Prostock:
  • PAN Card
  • Aadhar Card
  • Address Proof
  • Latest Photo
• You can visit their website by clicking on the link http://www.ProStocks.com/ and can open an account online./
• You can contact them in case you are finding difficulty browsing through their website. Their contact number is +91 22 38 110 110
• Also, you can mail them to [email protected] for any support.

ProStocks Account Offering

At ProStocks you can open an Equity & Derivatives Trading account, Demat account.

Equity & Derivatives Trading Account: ProStocks offer only online Trading Accounts and you will have an option to trade either through a software-based platform, a web-based platform, or a mobile application. With a ProStocks Equity & Derivatives Trading Account, you can trade Stocks, Futures & Options of Stocks, Indices, and Currencies. There are no One-time or Annual Maintenance charges for a Trading account.

Equity Demat Account: Dematerialized Account is popularly known as Demat Account, is the account where you keep stocks in electronic format. Presently in India, we follow a T+2 rolling settlement cycle for Delivery based trading. What it means is that if you buy 100 shares of Reliance on Monday (T day as we call it) for delivery, the shares will come to your Demat Account only on T+2 day (Wednesday evening).

There is no account Opening & Annual maintenance charge (AMC) for a Demat account at ProStock (which includes NSE/BSE Equity, F&O, Currency Derivatives and CDSL Demat account).

Important things to remember while opening an account:

• Open only "Trading Account" if: You intend to trade only Futures & Options and/or Currencies, be it Intraday or Positional. A demat account is not required.
• Open "Trading and Demat" if: You intend to take delivery of Stocks (buy and hold stocks overnight) along with trading in Futures & Options and/or Currencies.

ProStocks Account Opening & AMC Charges

• Trading Account Opening Charges (One Time): Rs 300 Promo Discount Rs 0 now
• Demat account Opening Charges (One Time): Rs 0
• Trading Annual maintenance charges (AMC): Rs 0
• Demat Account Annual Maintenance Charges (AMC): Rs 0 (Rs 1000 refundable deposit)

The Final Thoughts about ProStocks

ProStock is one of the cheapest discount brokers in the industry providing the 2-in-1 trading account with extremely low call & trade and lowest stamp duty. If you are an early trader and looking towards a cheaper broker, then Prostock is a must think upon. However, if you pro in trading and looking towards expanding your portfolio and require more services then you can explore better options of a stockbroker in the market.