ProStocks is the fastest growing discount stock broking firm that offers its trading services at BSE and NSE. The firm is registered by SEBI (Stock Exchange Board of India).
It offers its trading services in Equity Delivery, Equity Intraday, Equity Derivatives (F&O) and Currency Derivatives (F&O) segments at BSE and NSE. The customisable trading platform offers convenient trading through the installable trading terminal, website and mobile application and all of it at free of cost to all the customers.
The Stock broker provides a unique feature i.e. 2-in-1 account facility to its customers that includes trading and demat account. ProStocks is a member of CSDL. It is one of the two public sector depositories in India that offers demat services for holding the securities. This Stock broker provides its unique service of Zero AMC Demat and Trading Account Opening.
Documents required to open an account with ProStocks
To open an account with ProStocks, a certain set of documents is required. The list of documents is listed below:
1. Pan card.
2. Address proof.
3. Passport size photograph.
4. Cancelled cheque with name printed on it.
If the user wants to open an account in the Equity derivatives or Currency derivatives, then the document list must include:
1. Copy of ITR acknowledgement.
2. Copy of annual accounts.
3. Salary slip.
4. Copy of Form 16.
5. Net worth certificate if net worth is more than 2 lakhs.
6. Copy of demat account holding statement having holding value of more than Rs.2 lakh.
7. Bank account statement of last 6 months.
8. Self-declaration with applicable supporting documents.
9. Any other documents applicable for ownership of assets.
Account Opening Charges in ProStocks:
Trading account opening charge
Trading account AMC
Demat account Opening Charge
Demat account AMC
Note - A refundable amount of Rs.1000 is applicable only on demat account opening. This amount will be refunded to you at the time of closing of your account.
You can also open a 2-in-1 account i.e. Trading + Demat account free of cost.
Procedure to open an account in ProStocks:
At ProStocks, there are two ways by which you can open your account at zero cost.
1. Online Account Opening
Follow the below steps to open an account online:
a) Visit official website of “ProStocks”.
b) Click on “Open account”.
c) Register yourself by entering required details.
d) Click on “Generate an OTP”.
e) Enter the OTP that you will receive on your Aadhar registered mobile number.
f) Upload the scanned copies of all the required documents and submit it.
Your account will get activated in some time.
2. Offline Account Opening
Follow the below steps to open an account offline:
a) Visit the official website of “ProStocks”.
b) Click on “Open account”.
c) Download account opening form of your requirement and take its printout.
d) Fill the form properly.
e) Attach the hard copies of all the required documents.
f) Send a completely filled application form and documents to the ProStocks address.
Benefits of opening an account with ProStocks:
1. It charges zero brokerage on the equity delivery trades.
1) The KYC team sends an email about the receipt of the documents once all the account opening documents are received.
2) The team will verify the documents and request the customer for IPV, if required.
3) After completing the IPV, customer will receive a welcome call and will validate the details.
4) As soon as the verification is completed, a welcome mail will be sent to the customer with all the account related information.
ProStocks offer Zero AMC Demat Account. Unlike other brokers, customers is not required to pay any annual fees. The ProStocks demat account without AMC is for all its customers including Individual, Corporate and NRI.
Yes, a depository account can be opened in ProStocks with the names of four holders but the account can only be used for dematerialization of shares that are held in the same combination. No shares can be credited by purchase or transferred from any other account. Hence the standing instruction for credits will be “N” for such accounts.
ProStocks will open your account on the same day after duly completing the account opening documents that are given in the office, in case you are already KRA compliant and In person Verification(IPV) is not required. If the IPV is required , then the ProStocks will open the account within four working hours post IPV. You will be able to trade from the next day subject to transfer funds for margin in the trading account with ProStocks.
Yes, the customers can link with more than one bank account to your trading account. There are no restrictions on the number of bank account you can link. It is advised to link all the bank account so that the customer can transfer the funds from any bank account they hold.
Nomination can be done either at the time of account opening or later. The Nominee name and address is to be provided by the account holder. The account holder is required to sign before the two witnesses.
Each NRI can purchase the maximum of 5% equity shares of listed company subject to overall limit for the listed equity shares of each company on repatriation benefit basis. NRI investment in equity shares of listed company without repatriation benefit is treated at par with Indian resident and there is no upper limit.
Being a new entry in the financial industry but it is a legitimate safe and reliable stock broker. The firm has received a good market share in a short time period owing to its low-cost pricing, advanced trading platform and faster customer service.
You can download KRA modification form available at the download section of ProStocks website or take the first page from KYC which is a KRA form. Fill in the information that you wish to change besides the name and PAN number in the KRA form, sign it and attach the self-certified PAN Card Copy.
Client can pick and choose one or more segments from the list below:
1) NSE- Equity Cash Segment.
2) NSE- Equity Future and Options Segment.
3) NSE- Currency Futures and Options Segment.
4) BSE- Equity Cash Segment.
5) BSE- Equity Futures and Options Segment.
6) BSE- Currency Futures and Options Segment.
Note: The customer is required to select atleast 1 trading segment at the time of account opening.
Prostocks provide SMS alert facility for demat account holders where by the investors can receive alerts for debits (transfers) to their demat accounts, credits for IPO and offer for sale allotment, sub-division and bonus.