This ProStocks Review discusses the features in general, charges, trading methods, etc. Rather than going behind the companies, this is the right place to know the ProStocks review without any delay.
It’s human nature to want the best for ourselves. A lot of our daily activities are dependent on what is most convenient and suitable for us. Why not go into stockbroking and trading with the same mindset?
At the end of the day, you’ll be trusting an application or software with your personal details and information regarding the money you’ll be storing and earning. It’s only natural and necessary for you to be a part of an organization that can gain your trust and maintains a good reputation.
When it comes to choosing a demat account, a trading account, a savings account, or perhaps all three, you must consider
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How do you gauge the reliability and veracity of an application without going through other customers?
They’re explored and experimented with it before. Their opinion may not be the sole reason for your investment, but it can be influential and key to distinguishing between good, bad, and ugly applications.
For more in-depth knowledge about the software, you could check out ratings too. Those are visually easier to read for and can give you an overall gist of the app within seconds.
When looking for an application to trust with your trading, you must properly scan the app inside out. That means watching out for each and every feature it is known for a while also considering why it is disliked.
The more number and type of accounts it offers, the better. Our suggestion for practically everyone is to keep your demat, trading, and savings account all in one place to ensure each transaction takes place smoothly.
The process is lengthy, causing various banks and companies to join in. The easier it gets to buy and sell shares, the better it will be for you.
One of the most important features is how much the application charges you for each transaction. Considering an investor makes multiple trades in a day, the fees should be moderate and well-thought-out.
You must consider what the app offers you as an investor. Look at the types of trades you can get yourself in, the exposure and leverage you get, if they disclose any details about companies and operations taking place at the stock exchange. As a customer, you have every right to demand!
Now that we’re clear about the parameters you must look out for when choosing a stockbroker well-thought-out let’s review one of the most famous ones. For this article, we’ll be looking at ProStocks.
ProStocks is a relatively new discount broking application that allows you to trade shares and other assets. It came into the market when most other apps of the same industry had begun to establish themselves as leaders.
Nonetheless, it is considered one of the fastest-growing apps in the last few years, due to several reasons.
What Does Protocks Have To Offer To Its Customers?
- Two account types: The first type of account it offers is The Unlimited Trading Account valued at Rs. 899 per month.
This is divided into equity cash, currency, and equity derivatives segment, respectively. You can trade an unlimited number of times without having to pay any brokerage bills. The second type of account ProStocks offers is a Flat-Free Trading Plan. This is most suitable for investors that are casual and less frequent.
This means that irrespective of how large their trade is, their brokerage charge will only be valued at INR 15 per order. You could use either BSE or NSE for your trading. In India, either of these plans is beneficial and rated the cheapest out of all.
- Low Brokerage Charges: As mentioned earlier, ProStocks charges a fixed sum of money, even if a trade is valued at a high number. This is guaranteed.
- You only have to pay INR 15 in return for thousands, lakhs, or in some cases, crores. They do not include a PCM fee, unlike other companies operating in the same market segment.
- Call and trade: ProStocks, with its record, could be given the Guinness record for lowest call and trade charges. They only cost you INR 10 per order. Other companies charge double the amount, sometimes, even in the hundreds. You’ll get a great deal here.
- 2-in-1 account: ProStocks offers you comfort and convenience at the same time. With its 2-in-1 account, you can now open a demat and trading account at the same place. This helps with transparent, efficient, and seamless transactions. You’ve got nothing to stress over!
- IPO: Many applications in the same market do not offer IPO registration or investment, but ProStocks is not one of them. You can apply for IPO directly with ProStocks.
- Software: The ProStocks application is known for its user-friendly interface. This is great for beginners to learn about how things work in the stock exchange. Even the experienced will benefit from the easy navigations.
- Customer Service: This has been a grey area for most applications. Their external features are great, but they lack miserably in that department when it comes to serving their customer. ProStocks, fortunately, works the opposite way. You can trust their team!
- 3-in-1 is not available: As we mentioned earlier, having your demat, trading, and bank account in one place allows you to carry out seamless transactions. However, ProStocks does not offer such a feature. They stick to the 2-in-1.
- No commodity trading: There are plenty of apps that allow currency and commodity trading since those are quite common in today’s day and age, but ProStocks hasn’t got into that side of the business yet. They are in talks and aspire to launch the feature as soon as possible.
With ProStocks, it has been quite a different journey. They clearly have significantly higher pros than cons, which suggests that they are heading for the top.
We hope you were able to get an idea of what features and parameters to look at when you’re leaning towards trading, and of course, exposure to one of the top brokerage apps of today’s day and age. Nonetheless, there is plenty of fish in the sea. Choose your option wisely!