I use AliceBlue for my trading and investment purpose. I opened the demat account with them way back in early 2012. I am writing this AliceBlue review comparing its pros and cons based on my own experience with them.
AliceBlue started in year 2006 and I was little apprehensive about opening the demat account with them as they were literally unknown entity at that time. But they have always met my expectation since then.
AliceBlue has a strong reputation for its technological innovations, but its brokerage segment is no slouch either: It offers Rs0 trading commissions, a swath of product offerings and an easy-to-use platform that also can be customized for more advanced traders.
AliceBlue is best for:
- Active Traders (Day Traders)
- Brokerage free investments
- Direct Mutual Fund Investors
AliceBlue Brokerage Charges
AliceBlue is the first broker to introduce Zero brokerage for demat account. Any delivery based transaction will have no brokerage. All the other trades like intraday and derivatives (Future and Options) are charges flat Rs20 per trade.
|Equity Intraday||0.01% or Rs 15/trade whichever is lower|
|Equity Futures||0.01% or Rs 15/trade whichever is lower|
|Equity Options||Rs 15/trade|
|Currency Fututres||0.01% or Rs 15/trade whichever is lower|
|Currency Options||0.01% or Rs. 15/executed order whichever is lower|
|Commodity Futures||0.01% or Rs. 15/executed order whichever is lower|
|Commodity Options||0.01% or Rs. 15/executed order whichever is lower|
While the established brokers like ICICIDirect, Sharekhan etc were charging percentage brokerage, AliceBlue’s introduction of Zero commission has set a new trend.
Just to give an example, if you plan to invest Rs 10 Lakh , with 0.55% brokerage (ICICIDirect charges this much!), you have to shell out Rs5,500 in brokerage itself where as you pay nil in case of AliceBlue.
And ditto while you wish to sell those shares. These huge savings on both sides along with other factors probably make it one of the best demat account in India.
This point of discussion is for Investors, let us see now how AliceBlue makes sense for Traders.
AliceBlue : Maximum Rs 15 / Trade for all trades
While I was using ICICDirect, I used to pay Rs75 per lot options trading , so to buy 10 lots, I had to shell out Rs750.
I was trading Options in 2012 and when I heard Flat Rs20 for any number of lots, the offer was irresistible.
Many of my options strategies which I was finding difficult to make profit because of the high brokerage, started to make sense now. Hence I took risk and opened the account with AliceBlue and deposited small capital to try out them.
For detailed information about AliceBlue Brokerage Charges , refer the link.
AliceBlue Account Opening Charges:
- Trading account opening charges (One Time) : Rs 0
- Demat Account opening charges (One Time) : Rs 0
- Trading Annual Maintenance Charges : NIL
- Demat Annual Maintenance Charges (AMC) : Rs 400
I have written a detailed article about AliceBlue Account opening and DP Charges.
AliceBlue Mobile, Desktop and Web Trading Platforms
ANT Mobi is the next generation trading platform from AliceBlue. I have written a detailed ANT Mobi covering its features and pros & cons. Ant Mobi is totally free for AliceBlue clients.
AliceBlue AntWeb Trading Platform:
Some of the salient features of AliceBlue AntMobi are,
- Multiple market watches
- Floating Order window
- Exit multiple orders/positions in one click
- Streaming quotes
- Multiple Chart View
- Multiple order types (Regular, CO, BO and AMO)
- Browser Notifications
- Multilingual Support
- Market Depth View with streaming updates
- Place order directly from chart
Look at the introductory video of AliceBlue AntMobi
AliceBlue Margin/Exposure and Intraday Leverage Details
- AliceBlue Margin for NSE and BSE Cash Segment:
- 20x Margin for stocks listed in F&O
- Upto 2x margin for stocks with 20% circuit breaker for all intraday (MIS) orders
- Margin for equity Futures :
- 6X leverage for CO(Cover order) and BO (Bracket Order)
- 4Xleverage for MIS orders
- Leverage for Equity Options buying:
- 1.3X leverage for CO(Cover order) and BO (Bracket Order)
- No leverage for MIS orders
- Leverage for Equity Options Selling :
- 4X leverage for all orders
- Exposure for Currency Futures : Upto 4X leverage for MIS/CO and BO Orders
- AliceBlue Margin for Commodity Futures:
- Upto 3Xmargin for Non-Agri commodities with CO orders and 2.5X in MIS orders
AliceBlue Membership Information
- Alice Blue Financial Services (P) Ltd: Member of NSE & BSE – SEBI Registration no.: INZ000156038
- CDSL: Depository services through Alice Blue Financial Services (P) Ltd. – SEBI Registration no.: IN-DP-364-2018
- Commodity Trading through Alice Blue Financial Services (P) Ltd. MCX-56710 SEBI REG : INZ000156038
AliceBlue Contact Information
- Corporate Office: No. 153/2, 3rd Floor, M.R.B.Arcade, Bagalur Main Road, Dwaraka Nagar, Yelahanka, Bengaluru – 560 063, Karnataka, India
- Phone : 080-45366888 | 08045412000
Advantages and Disadvantages of AliceBlue
I am providing the Pros and Cons of AliceBlue below,
Disadvantages of AliceBlue:
1) No Facility to Invest in IPOs
I usually invest in promising IPOs and since AliceBlue is not a bank, it is not possible to invest directly in IPOs through AliceBlue.
However I invest through ASBA route and give AliceBlue demat account for credit of shares.
2) Not a 3-in-1 Demat account
What I miss the most in AliceBlue compared to ICICI Direct is the seamless transfer of funds between my trading and savings bank account.
While Payin (transfer from bank to AliceBlue account) is instant through net banking, the payout (trading to bank account) takes few hours. Payout was instant in ICICIDirect.
But I am used to it now by planning in advance and it is the small discomfort when compared to savings I am getting in brokerage charges.
Update: Recently AliceBlue started offering 3-in-1 demat account but only to those who have their savings account with IDFC First Bank.
Advantages of AliceBlue:
1) Excellent Trading Platforms
I have tried trading platforms of multiple brokers and I find AliceBlue AntMobi is the best trading platform available out there.
While other platforms are very complicated and resource heavy, for me, AntMobi offers whatever required with very minimalistic interface and simple to use with not so bright colors straining the eyes.
This is where AliceBlue finds good rankings among its peers because of the innovation it put up in product development and offerings.
2) Customer Support Mechanism
What I like most in AliceBlue is, the founder Mr Sidhavelayutham Mohan himself is very active on resolving the customer queries. He answers most of the queries through HelpDesk which is the platform to connect AliceBlue with its customer.
Apart from that, all the queries you raise to them are assigned with ticket and you can track all the solutions and updates provided by the customer support team through the ticket number.
3) Investor Education Initiatives
AliceBlue have various investor education initiative such as TradeSchool – a forum for traders and investors to ask thier queries and get help answers from fellow traders.
Trade School – Free to all collection of modules with collection of lessons from their research head Mr Sidhavelayutham Mohan.
While few established brokers charge for these kind of education, it is totally free for everyone, one need not have account with AliceBlue.
How to open Demat Account with AliceBlue?
Opening the demat and trading account is really fast and hassle free when compared to the days I opened an account with them by submitting the physical application.
Now entire process is online and if you have all the documents, it is possible to start trading within an hour.
For opening the demat account with AliceBlue, you will need following documents
- PAN Card
- Aadhaar Card
- Passport size Photo
- Cancelled Cheque or Savings Bank passbook
First step to open the account is to visit their account opening page and enter your details. Here is the link to their account opening page.
If you need step by step guide on account opening procedure, you can refer my article on how to open demat account with AliceBlue, which has details with pictures for each step.
Alice Blue Review : My Final Thoughts on AliceBlue
As I mentioned earlier, I have been with them since 2012 and they never disappointed me.
The management is transparent enough and publicly apologized whenever there was an issue from their end gaining clients trust which is very rare from big corporate houses.
From startup like company to big establishment, their growth was astonishing and it was possible with good technology, pricing and customer support making them ideal for traders and investors like you and me.
Please let me know your reviews and how you rate Alice Blue at the comments box below.