Alice Blue is one of the biggest and top ranked discount brokers in India. It was incorporated in 2006 by Sidhavelayutham M. It is a Bangalore based discount broker that is known for its commodity trading service on MCX. It has specialization in the zero brokerage charges cost model and offers various services in Equity and Commodity trading at BSE, NSE and MCX in futures & options, cash and currency.
It received its MCX membership in 2007 under Alice Blue Commodity private limited. It also provides an additional facility of depository services to its clients. Indian citizens can open a 2-in-1 account with Alice Blue, by integrating their Alice Blue Demat and Trading Account.
Alice Blue also offers the two brokerage plans i.e. Trade pro and Freedom 20. It charges the lowest brokerage to trade in different segments for its customers. Customers have to pay fixed brokerage charges of 0.01% in Trade Pro. The futures and commodity segments have the charges of Rs.20 per lot, irrespective of the lot size and segment in Freedom 20 Plan.
Alice Blue has its several branches across India along with the various partners. It provides an advanced online trading platform to its customers like ANT, Advisory Mandi, Trade School, Sensibull, Smallcase, Ticker tape and Alice Algo. ANT (Analyses and Trade) is the trading platform offered by Alice Blue. This is built by Trade Lab and uses Omnesys NEST as a backend.
This discount broker also offers access to proprietary and third-party online trading tools. This helps the customers in analysing their trade in detail and make informed trading decisions wisely. The customers can get access to the paid tools and apps on the ‘Trade Store’.
Alice Blue is famous among traders who are looking for higher margin in intraday trades. Alice Blue provides 50X margin in Crude Oil, 30 X Margin in Nifty and Bank Nifty, 10X Margin in Option sell.
Alice Blue got its highest growth after 2018, when large stock brokers increased margin for intraday trades. Alice Blue also known for its single margin facility.
Alice Blue Financial Services USP (Unique Sales Proposition)
There are certain Unique Selling Points of Alice blue Financial Services that guides the customers:
1. The company has experienced the trust of over 15 years as a broker.
2. ANT- Alice Blue provides a flagship trading platform to its customers that is built for analysis and trading.
3. Discount Brokerage Plan Freedom 20- It is a simple, low-cost, and flat-fee brokerage.
4. Equity Delivery Fee- There is no brokerage fee for cash and carry trades on equity.
5. Higher Limits- The highest limit in Equity Intraday can extend up to 20X.
6. Free software- Alice blue provides free trading software to all its customers.
7. Trade School- It provides an online resource for learning investment related concepts and trading skills to its customers.
8. Advance Tools- Alice Blue provides the advanced trading tools to its customers such as ANT Meta, ANT Scanner and other third-party tools.
Advantages of Alice Blue
1. Equity delivery trading is not charged under the F20 (Freedom 20) plan. The maximum amount of Rs. 20 is required in order to trade in other segments.
2. There is no minimum brokerage, no minimum commitment and no prepaid plans are guaranteed.
3. It is the trustworthy broker serving its services since 2006.
4. The ANT trading software is free for its customers.
5. It provides free access of regular markets to its customers.
Disadvantages of Alice Blue
1. It does not offer any annual or monthly plans.
2. Call and Trade services are provided at an extra charge of Rs. 20 per order.
Alice blue has been providing its services for decade and more. It has been providing its financial technology brokerage services since 2006. It has deployed Omnesys NEST PLUS Trading platform as the backend for ANT and that makes it stand out.
There is no minimum balance requirement in Alice Blue trading account. Clients can add money in a trading account according to their need and extra money can be withdrawn as per the wish of the account holder.
Soft copy of following documents are required in order to open an online account with Aliceblue:
i. ID proof (PAN card)
ii. Address proof (Aadhar card/Voter ID/Passport)
iii. Passport size photo
iv. Scanned signature
v. Income proof (Bank statement of last 6 months/ ITR/ Last three months’ salary slip)
IPV refers to In-Person Verification, where the documents and client has to get verified by the broker personally while opening a trading and demat account. IPV can be done either through mobile Or Web camera. A video has to be recorded showing valid ID proof and client’s face during IPV process.
It is a limited level of permission given to the firm by the traders in order to debit shares from the Demat account of trader whenever shares are sold. If a client is not willing to provide POA, then shares can be sold using CDSL TPIN mode. But this restricts the sell transaction to maximum of ₹ 1 crore per day. Moreover, it will result in limiting off-market transfer to ₹2 lakh per scrip and overall, ₹10 lakh per day. If the portfolio is above ₹ 1 crore and the client wish to sell more than ₹ 1 crore of stocks from his holdings in a day, he must provide POA.
Alice blue was incorporated in 2006 and is the fastest growing firm. It is a Bangalore based discount broker firm. Its minimum brokerage fees with maximum exposure makes it stand out from its competitors.
Indeed, the broker has designed a mobile app i.e. ANT mobi with a motive to provide better mobility to services it offers. This app is supported on android, windows and iOS platforms. It provides ease of trade from anywhere.
If eKYC is complete and Aadhar is linked to the mobile number, then the account can be opened instantly. In case, signed papers are sent to the broker, then it will take 24 hours to open the account once the documents are received.