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ProStocks IPO Review - Charges, Easy Steps to Apply Online
Prostocks Track Record Of Best Online Stock Broker In India
ProStocks IPO Review - Charges, Easy Steps to Apply Online
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).
ProStocks 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.
Prostocks does not provide direct IPO investment service. The stock broker allows the customers to invest in IPOs online by using the Unified Payment Interface (UPI) or by using the ASBA IPO application through the net-banking facility of their bank account.
ProStocks IPO Application
All the IPO and FPO applications has to be pass through the ASBA and processed through Self-Certified Syndicate Bank (SCSB). The customers can apply in IPOs with any of the Self- Certified syndicate banks by providing the ProStocks DP Account details. After allotment, the customers can use their ProStocks Trading Account in order to trade and sell in the holdings of shares.
Steps to Invest in IPOs with ASBA using ProStocks Account
The customer is required to follow certain steps in order to invest in the IPOs with ASBA application through ProStocks.
1. The customer needs to login to their net banking account.
2. Move the cursor to the Investment Option and Select IPO option.
3. Select the IPO in which you want to invest.
4. Fill in the details such as PAN details, Demat Account Number and number of shares and bid price.
5. Click on “Submit” and submit it with the availability of clearing balance in their bank account.
The clients who have their account in the banks that do not offer paperless ASBA application or the clients who do not provide online banking has to fill the physical application and submit it to syndicate member for onward submission to the client’s bank for blocking required amount in the client’s bank account.
Steps to Invest in IPO by using UPI App
An individual can invest in an IPO through Prostocks simply by using Unified Payment Interface. To invest in an IPO by using UPI app, follow the steps mentioned-below:
1. Create a UPI ID by using the BHIM UPI or mobile banking application.
2. Next, login to the ProStocks IPO application by using the PAN Number as login name and email address as the password.
3. Enter the UPI Id, quantity and price.
4. Submit the application.
5. After some time, you will receive a mandate request on the UPI approve it with the standing instruction.
Requirements to make Investments in IPO
In order to make investments in IPO, the customer needs to hold :
1. A bank account with Self-Certified Syndicate bank.
2. DP account with the ProStocks.
3. A Trading Account to trade in holding of shares.
ProStocks IPO Charges
The ProStocks IPO application is free. It does not charge any fees from its customers for applying in an IPO.
Frequently Asked Questions
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.
You will receive a transaction statement every month if you have done any transaction or once in a quarter if there is no transaction during the period.
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.
Prostocks do not charge any AMC for trading or demat account. ProStocks safeguards your account with zero maintenance charge.
ProStocks depository allows you to change the name of the corporate demat account and the existing account can be continued.
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.
All the funds transfer request is received up to 5 PM on working days are credited to the client account electronically on the next working day.
No, all the trading applications that are provided by ProStocks are free. They do not charge for BSE BEST trading application even when you trade for NSE exchange in BSE BEST.
The customers are advised to contact customer care in case of any discrepancies.
Yes, Prostocks provide mobile application for android and iOS. The app is available on both the Android and iOS. The application is named as ProStocks KeyStone back office.
ProStocks has multiple pricing plans available to suit the trading needs of the customer. The customers can change the pricing plans anytime by contacting the customer support desk.
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.
An intraday position trades are resulting from order types MIS and CO will be squared off at the pre specified time.
If an investor is willing to avail the services offered by Prostocks, then the investor has to open an account with Prostocks.
ProStocks provides Zero annual maintenance charges account. There are no account opening charges, no inactivity charges. It collects Rs.1000 refundable deposit.
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 DP ID is 12083200.
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.