Angel iTrade vs Axis Trade at 20: From stock trading rates to benefits - latest discount brokerage offers compared
Angel iTrade vs Axis Trade at 20: Heating up the highly competitive discount-broking market for securities, stockbroking firms Axis Direct and Angel Broking recently came up with new products.
Angel iTrade vs Axis Trade at 20: Heating up the highly competitive discount-broking market for securities, stockbroking firms Axis Direct and Angel Broking recently came up with new products. While Axis Direct has launched 'India Trade @20', which allows an investor to carry out a trade order at a flat fee of Rs 20, Angel Broking has announced 'Angel iTrade' plan with a flat brokerage charge of Rs 15 per order up to Rs 50,000 and Rs 30 for orders above Rs 50,000. Discount brokerage has become popular in recent years with the super success of firms like Zerodha and 5 Paisa.
Unlike traditional brokerage firms that charge a certain percentage of the turnover, the discount brokers allow one to carry trade at a flat rate. They not just make money-making with investment in securities affordable but also comfortable with the help of latest digital technology. Zerodha is currently charging a flat fee of Rs 20 for intra-day trades while 5Paisa charges Rs 10. Here's a look at what Axis Direct and Angel Broking are offering in new plans:
Trade @20 by Axis Direct
Eligibility: You need to maintain a quarterly balance of Rs 75,000 for Axis Direct's Trade@20. The official Axis Direct website says, "Existing customers are eligible only if they maintained a minimum ‘Average Quarterly Balance’ of Rs 75000 in their linked Axis Bank account in the last quarter."
In case you are denied the latest brokerage plan, you can get it again by maintaining a minimum Average Quarterly Balance of Rs 75,000 in your linked Axis Bank account. The official website says that the Rs 20 per executed order will be applicable on Web Platform (https://login.axisdirect.in/), Axis Direct Mobile App and Direct Trade.
- This plan is applicable to only Resident Indian Individual and HUF client Trading accounts.
- The brokerage of Rs 20 per executed order is applicable for Equity and Equity Derivatives products.
- The brokerage plan will be valid for a minimum of 90 days. It will be continued if you maintain the minimum average quarterly balance of Rs 75,000.
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With the iTrade Plan, Angel Broking has forayed in the flat-brokerage scheme for the first time. Under the plan, a client will not have to pay a brokerage charge in terms of a certain percentage of his/her trading turnover. A flat brokerage rate will be charged irrespective of the trade value.
Under Angel Broking iTrade plan, the annual maintenance charge is free for the first year and also not initial deposit needs to be made. The charges can be re-negotiated with higher trading deposits.
Flat charges: For the order size of Rs 50,000 or less, a client would have to pay a flat brokerage charge of Rs 15. However, if the order size is over Rs 50,000 then the client would have to pay a flat brokerage charge of Rs 30. The trading charges would be applicable.