ProStocks and Zerodha are both discount brokers with flat brokerage charges. The discount stockbrokers are best if you wish to build a lost cost trading portfolio of stocks without the need for trading tips and stock advisory.
ProStocks offers you a little advantage when it comes to brokerage charges with flat fees of Rs. 15 per executed order but you need to pay upfront a refundable fee of Rs. 1000 while account opening.
Whereas, Zerodha has far better technology tools like APIs, Sentinel (cloud alert tools) and apps to support your trading. You can trade on higher (12.5X) margins with Zerodha as compared to only 7X margins on equity intraday trades.
Below is the quick comparison of ProStocks Vs Zerodha.
ProStocks vs Zerodha Comparison
| Particulars | ProStocks | Zerodha |
| Can trade-in | Stocks, Equity, F&O and Currency F&O | Stocks, Equity F&O, Currency F&O and Commodity F&O, Bonds, and Govt-Securities |
| Brokerage Charges | Details for ProStocks Plan | Details for Zerodha Plan |
| Equity delivery | Zero Brokerage | Rs. 0 |
| Equity Intraday, Futures, Options | Rs. 15 Per Executed Order | Lower of Rs. 20 per executed order or 0.03% |
| Currency Futures, Options | Rs. 15 Per Executed Order | Lower of Rs. 20 per executed order or 0.03% |
| Commodity Futures, Options | N.A. | Lower of Rs. 20 per executed order or 0.03% |
| Margin for Intraday | Up to 7X | Up to 12.5X |
| Account Opening Charges | ProStocks | Zerodha |
| Demat & Trading Account | Rs. 0 | Charges for Demat & Trading account is clubbed – Rs.200 |
| Demat AMC Fees | Rs. 0 | Rs. 300 |
| Commodity Account | N.A. | Rs. 100 |
| Trading Platforms | ProStocks DesktopProStocks Web | Zerodha Kite 3.0Zerodha PI |
| Trading App | ProStocks Mobile App | Kite Mobile App |
If you are interested in more details then you can go through detailed review of Zerodha and prostocks.
Zerodha Demat Account Review
Zerodha (read our Zerodha review) is the first brokerage house in India that started discount broking in the year 2010 when other stockbrokers were charging high percentage-based brokerage fees.
The flat Rs. 20 charges coupled with online trading (apps and web) platforms helped Zerodha to become one of the most trusted stockbroker for 2 million clients.
Zerodha brokerage offerings help new traders experiment and learn stock intraday trading on lower fees and build a small trading portfolio of around 2 to 3 Lakhs rupees.
Brokerage Charges on Zerodha Demat & Trading Account
| Trading Type | Brokerage Charges |
| Equity Delivery | Rs. 0 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.03% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.03% |
| Equity Options | Rs. 20 per executed order |
| Currency Futures and Options | Lower of Rs. 20 per executed order or 0.03% |
| Commodity F&O | Lower of Rs. 20 per executed order or 0.03% |
Zerodha does not have different plans for traders and investors.
Like other discount brokers, Zerodha too charges for value-added services like stock reports, Screeners, and Smallcase. The fee details are under.
Margins Provided by Zerodha
Zerodha offers margin on
- Margin Intraday Square off (MIS)
- Cover Orders (CO)
- Bracket Orders (BO) products
You can learn more about the above terms (MIS, BO & CO) and intraday trading here.
The Margin for Intraday (MIS) is as under
| Segment | Margin |
| Equity Delivery | No Margin |
| Intraday Equity | 3 to 12.5 times depending on the scrip |
| Index Futures | Margin required is 35% of the normal margin (NRML) |
| Equity Futures | Margin required is 45% of the normal margin (NRML) |
| Index Option Writing | Margin required is 35% of the normal margin (NRML) |
| Stock Option Writing | Margin required is 45% of the normal margin (NRML) |
| Currency Futures & Option Writing | 50% of the normal margin (NRML) |
| Commodity Futures & Option Writing | 50% of the normal margin (NRML) |
Zerodha Demat Account Opening and AMC Charges
| Particulars | Charges |
| Trading and Demat account opening charges | Rs. 200 |
| Commodity Account | Rs. 100 |
| Trading account annual maintenance charges | Rs. 0 |
| Demat account annual maintenance charges | Rs. 300 |
People looking to open a demat and trading account offline need to pay an additional Rs. 300.
Best For
Zerodha is best for new and regular traders who don’t need large margins and don’t want to pay high brokerage charges.
Pros
- No brokerage charges for delivery
- Fixed & low brokerage irrespective of trade volume
- No minimum balance required to open and maintain the account
Cons
- Frequent delays and service down during trading hours
- The margin provided is low as compared to other discount brokers
- Does not upfront discloses margin for CO & BO trades
ProStocks Demat Account Review
ProStocks stockbroker followed Zerodha’s discount broking model.
ProStocks also offers a flat brokerage charge of Rs. 15 per trade which is lower than the Rs. 20 charged by Zerodha. You can trade high volumes irrespective of the brokerage fees.
Apart from that, ProStocks also has monthly and yearly unlimited trading plans that you can benefit from if you are a regular trader.
The lean brokerage structure can help new investors learn share market investing.
However, ProStocks does not offer trading in the commodities segment which is available with Zerodha.
ProStocks Brokerage Charges
| Trading Segments | Brokerage |
| Equity Delivery | Zero Brokerage |
| Equity Intraday | Rs. 15 Per Executed Order |
| Equity Futures | Rs. 15 Per Executed Order |
| Equity Options | Rs. 15 Per Executed Order |
| Currency Futures | Rs. 15 Per Executed Order |
| Currency Options | Rs. 15 Per Executed Order |
If you trade in large numbers then you can benefit from ProStocks unlimited trading plans for a fixed price.
The unlimited trading packages are under.
| Trading Segments | Unlimited trading in an exchange for a month | Unlimited trading in an exchange for a year |
| Equity (delivery & intraday) and Equity Derivatives | Rs. 899 per month | Rs. 8,999 per year |
| Currency Futures and Options | Rs. 499 per month | Rs. 4,999 per year |
Apart from that, ProStocks has a “Call & Trade ” facility, in case you do not have access to the trading platforms.
For intraday and F&O the charges are Rs. 10 per trade and for delivery, ProStocks charge Rs. 25 per trade.
Margin Available on ProStocks Demat Account
The best part is that ProStocks does not do Prop (proprietary) trading, i.e trading for its own account. ProStocks also does not use one client’s money for providing exposure to another client nor uses it for its own exposure. A common method used by the brokers to misuse available margins.
Hence, the leverages available at ProStocks are on a lower side compared to other discount brokers. The margin details are below
| Trading Segment | Margins |
| Equity Delivery (Cash and carry) | One-time |
| Equity Intraday (MIS) | Seven-time |
| Equity Intraday F&O (MIS) | One-time |
| Currency F&O (NRML) | One-time |
| Equity Cover Order (Intraday) | 10-times |
You can use the ProStocks Margin Calculators to know the exact margins available before trading.
ProStocks Account Opening Charges
Presently, ProStocks does not levy any account opening or AMC charges. Presently, the account opening charges of Rs 300 are waived currently as a promotional offer.
However, ProStocks collects a refundable fee of Rs. 1000 upfront while account opening. You get the fees back at the time of the account closing.
ProStocks Trading Platforms Review
ProStocks provides two sets of trading platforms
- In-house ProStocks trading platforms
- NSE NOW trading platforms
Here, I am providing you the details of ProStocks’s own trading software. The ProStocks trading platform supports new traders as well as frequent traders.
#1. ProStocks Desktop Trading Platform
ProStocks Desktop is a .exe downloadable trading application with a customizable default screen (with user-defined colors) and a trading analysis window.
The platform offers 6 real-time charts with advanced analysis tools for quick analysis and strategy building. The application allows you can add unlimited scrips in the market watch.
Intraday traders can open up to 7 charts simultaneously. The intraday tick-by-tick chart is for periods ranging from 1minute, 5 minutes and up to yearly charts.
The desktop platform also helps you to place orders right from the charts in the bulk trade watch and stock action watch features.
#2. ProStocks Web Trading Platform
ProStocks web trading platform is a browser-based application that is accessible on a range of devices like PC, desktop, tablet and mobiles. You only require a device and a decent internet connection.
ProStocks Web trading platform works on HTML 5 browser and has all the features of a desktop terminal within the browser window.
One can create “Multiple Market Watch” depending on the asset class, industry type and product type.
The single platform can be used to access multiple exchanges and segments, like BSE & NSE (Cash), F&O and Currency.
The best part of the web platform is that
- Does not require downloading of software on individual PC
- You do not have to enforce version check
- All the updates and bug fixing happens online
#3. ProStocks Mobile App Review
ProStocks Mobile App is a smartphone-based trading platform that helps you get real-time access to quotes and trading on mobile devices.
ProStocks Mobile App is compatible with iOS and Android smartphones. The mobile trading app is lightweight with 23.3 MB size on iPhone and 6.8 MB on Android devices.
However, the app is rated only 2.9 on the Google Play store and there are poor reviews regarding app usability and the updates of the charts being out of sync with the real-time market prices.
Best For
ProStocks Demat & trading account is best for traders who are looking for cost savings and want to execute a higher number of trades.
They can take benefit from the unlimited monthly and yearly plans. Additionally, traders save annual trading costs from Rs. 0 AMC charges.
Pros
- No proprietary trading
- Can place orders from charts, bulk watch and advance tick watch window
- Unique unlimited monthly and yearly trading plans for a fixed fee
- Zero account opening and AMC charges
Cons
- Low mobile app usability & delayed charts updates
- Low margins available as compared to other discount brokers
- Rs. 1000 upfront refundable amount collected while account opening
ProStocks vs Zerodha (Comparison Table)
| Particulars | ProStocks | Zerodha |
| Type | Discount Broker | Discount Broker |
| Can trade-in | Stocks, Equity F&O and Currency F&O | Stocks, Equity F&O, Currency F&O and Commodity F&O, Bonds, and Govt-Securities |
| Can invest in | None | Mutual funds IPO – through Bhim UPI |
| Based in | Daman, Mumbai | Bengaluru |
| Branches | None | 120 and partner offices |
| Customer Support | Through calls and e-mail | Through calls, e-mails and tickets |
| Forum | None | Trading QnA Forum |
| Program for Traders | None | 60-day challenge |
| Referral Program | Yes | Yes |
| Learning Resources | Blog, guides and FAQs | Zerodha Varsity |
| Brokerage Plan | Unlimited trading plan for a fixed Monthly or Yearly fee | No Plans |
| Brokerage Charges | Details for ProStocks Plan | Details for Zerodha Plan |
| Equity delivery | Zero Brokerage | Rs. 0 |
| Equity Intraday, Futures, Options | Rs. 15 Per Executed Order | Lower of Rs. 20 per executed order or 0.03% |
| Currency Futures, Options | Rs. 15 Per Executed Order | Lower of Rs. 20 per executed order or 0.03% |
| Commodity Futures, Options | N.A. | Lower of Rs. 20 per executed order or 0.03% |
| Call and Trade Facility | Yes | Yes |
| Charges for Call and Trade | Intraday & F&O – Rs. 10 per trade Delivery – Rs. 25 per trade | Rs. 50 per order |
| Margin for Intraday | Details for ProStocks Plan | Details for Zerodha Plan |
| Equity Delivery | One time | No leverage |
| Equity Intraday (MIS) | Seven-time | 3 to 12.5 times depending on the scrip |
| Index Futures | N.A | Margin required is 35% of the normal margin i.e. 2.857X |
| Stock Futures | One time | Margin required is 45% of the normal margin i.e. 2.222X |
| Index Option Sell | N.A | Margin required is 35% of the normal margin i.e. 2.857X |
| Stock Option Sell | One time | Margin required is 45% of the normal margin i.e. 2.222X |
| Currency Futures (MIS) | One time | 50% of the normal margin i.e. 2X |
| Selling Currency Options (MIS) | One time | 50% of the normal margin i.e. 2X |
| Commodity/ MCX Futures | N.A. | 50% of the normal margin i.e. 2X |
| Margin for OC/ OCO | Details for ProStocks Basic Plan | Details for Zerodha Plan |
| Equity Intraday | Ten times (Cover Orders) | Does not disclose upfront. Need to use a margin calculator |
| Account opening | Both online and offline | Both online and offline |
| Account Opening Charges | ProStocks | Zerodha |
| Demat & Trading Account | Rs. 0 | Charges for Demat & Trading account is clubbed – Rs.200 |
| Demat AMC Fees | Rs. 0 | Rs. 300 |
| Commodity Account | N.A. | Rs. 100 |
| 3-in-1 account | None | Zerodha IDFC First Bank 3-in-1 account |
| Trading Platforms | ProStocks Desktop ProStocks Web | Zerodha Kite 3.0 Zerodha PI |
| Cloud Alert Tool | None | Sentinel |
| APIs | None | Kite Connect API supports Python, Java, PHP, NodeJS, C#, and .Net. |
| Trading App | ProStocks Mobile App | Kite Mobile App |
Why You Might Prefer ProStocks Demat Account
If you are on an extremely tight trading budget and want to save on annual trading costs then ProStocks is a better choice with zero AMC and a flat fee of Rs. 15 per executed order.
But the margins available is only 7X as compared to 12.5X offered by Zerodha. Also, you need to pay a deposit (refundable on account closure) of Rs. 1000 upfront while opening a demat and trading account.
Why You Might Prefer Zerodha Demat Account
You should open an account with Zerodha as the brokerage and service offerings suit new and cost-savvy traders and investors. They can build a solid understanding of the markets with the help of Zerodha Varsity and Trading forums.
Though Zerodha charges Rs. 5 extra on brokerages when compared to ProStocks, but you have slightly higher leverage and better trading tools & platform. Additionally, you can trade in the commodity F&O segment which is not there with ProStocks.
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