Prostocks, one of the recent flat fee discount brokers offering trading and Demat accounts, is known to offer the lowest brokerage charges. Founded in 2016 with headquarters in Mumbai, the broker has grown quickly to a client base of around 2500 this year. A venture of Sunlight Broking LLP, Prostocks was established by Saurabh Rank and SP Toshniwal.
The SEBI registered broker and a member of BSE & NSE allows its clients to trade across various segments including Equity cash, Equity derivatives, Currency derivatives, and mutual funds among others. Being the cheapest broker, Prostocks is known to offer unlimited trading as well as flat-fee per trade plans.
Instant Account Opening: The broker is also known to offer instant account opening service through the paperless approach. Traders can get started with this 100% online service by using Aadhar card only.
Advanced Calculators: In addition to ease of account opening, the platform also allows users to easily calculate margin trading fee and brokerage applicable per trade by using dedicated advanced calculators.
Powerful Back Office: All the functions and features of this platform are supported by a powerful back office.
ProStocks Trading Platform
It offers a range of trading platforms built in-house by a team of developers. Besides, users can also trade using NOW, an NSE platform with a Prostocks account.
An installable trading terminal, ProStocks Desktop can be downloaded and installed on a desktop computer or a laptop. The trading platform is considered most suitable for frequent traders.
Key features of ProStocks Desktop:
- A fully customizable application that allows users to make changes to the analysis screen as well as alerts & notifications for price & percentage
- Single window view for multiple markets and segments
- Ultra-fast charting in real-time using advanced technology
- Ability to place after market orders
- Customizable market-watch comprised of multiple indices
This is a browser-based terminal that a user can access through any compatible web browser. Eliminating the need for installation and maintenance, the platform is considered suitable for casual investors. Besides, one can also access it from any computer that is connected to the internet.
Key Features of ProStocks Web:
- Can be accessed easily through a range of device and platform types
- Easy to maintain
- Highly reliable and fully secured gateway with multi-level authentication
- Integrated fund transfer and payment gateways
- Allows placing order directly through charts
- Offer real-time market quotes
- Allows creating a watch list from multiple market indices
ProStocks Mobile is a lightweight, fully functional trading platform in the form of a mobile app. Suitable for on-the-move traders, the simple, secure, and easy-to-use app is compatible with multiple mobile operating systems. However, since the app is the most recent addition to ProStock’s platforms, it is reported to consume high bandwidth and needs improvements.
Key Features of ProStocks Mobile include:
- High security
- Real-time market watch
- Real-time quotes
You can download the app here
A 3rd party software, NOW, allows registered ProStock users to access the platform’s trading features. Since the tool is developed and maintained by NSE, there is no direct/indirect control of the broker towards implementing or using this app.
Key Features of NSE NOW:
- Comprises of a comprehensive set of features
- Offers access to various heat maps and charts to analyze stocks at both fundamental and technical levels
- Allows users to customize dashboard widgets, notifications, and alerts
- However, there are a few concerns related to the use of this platform as well:
- Beginners will find it hard to understand and get used to the platform’s navigation
- In case of any problem with the app, users won’t be able to get much help from ProStocks.
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