Top Stock Advisory
Prabhat Finance vs. Farsight Securities
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Prabhat Finance and Farsight Securities. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Prabhat Finance and Farsight Securities.
Overview
Prabhat Finance and Farsight Securities are both public companies and both are full service broker as well. Vinod Kumar Rathi co-founded Prabhat Finance in 1995. And Farsight Securities was founded in the year 1995 by Naresh Chand Maheshwari. Prabhat Finance's headquarters are in KANPUR (U.P.) and Farsight Securities's headquarters are in New Delhi, Delhi.
Prabhat Finance and Farsight Securities both are full service broker as well. Prabhat Finance is registered in NA, while Farsight Securities is registered in NA. The total branches of Prabhat Finance are Nil and the Farsight Securities branches are Nil.
| Overview | Prabhat Finance | Farsight Securities |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Public | Public |
| Headquarter | KANPUR (U.P.) | New Delhi, Delhi |
| Founders | Vinod Kumar Rathi | Naresh Chand Maheshwari |
| Foundation Year | 1995 | 1995 |
| Supported Exchanges | NA | NA |
| Total branches | Nil | Nil |
Prabhat Finance and Farsight Securities Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Prabhat Finance charging Rs.100 and Farsight Securities charging Rs.250.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Prabhat Finance Demat account is Free and for the Farsight Securities Demat account is Rs.399 per Annum. The Trading AMC for Prabhat Finance and Farsight Securities is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Prabhat Finance and Farsight Securities is CDSL.
| Account Opening and Demat Charges | Prabhat Finance | Farsight Securities |
|---|---|---|
| Trading Account Opening Charges | Rs.100 | Rs.250 |
| Demat AMC (Annual Maintenance Charges) | Free | Rs.399 per Annum |
| Trading AMC (Annual Maintenance Charges) | Rs.299 per Annum | Free |
| Margin Money | Minimum Rs.3,100 | Minimum Rs.1,000 |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Prabhat Finance and Farsight Securities Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Prabhat Finance is 0.25%, while Farsight Securities charges you 0.35%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Prabhat Finance is 0.03% and for Farsight Securities also, it is 0.04%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Prabhat Finance charge 0.03% and Farsight Securities charge 0.04% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Prabhat Finance charges Rs.25 per lot, and Farsight Securities charges Rs.75 per Lot.
| Equity Brokerage Charges | Prabhat Finance | Farsight Securities |
|---|---|---|
| Equity Delivery Brokerage | 0.25% | 0.35% |
| Equity Intraday Brokerage | 0.03% | 0.04% |
| Equity Futures Brokerage | 0.03% | 0.04% |
| Equity Options Brokerage | Rs.25 per lot | Rs.75 per Lot |
Prabhat Finance and Farsight Securities Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Prabhat Finance is 0.03% and for Farsight Securities is 0.04%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Prabhat Finance charges Rs.15 per Lot for currency options, whereas Prabhat Finance charges Rs.50 per Lot.
| Currency Brokerage Charges | Prabhat Finance | Farsight Securities |
|---|---|---|
| Currency Futures Brokerage | 0.03% | 0.04% |
| Currency Options Brokerage | Rs.15 per Lot | Rs.50 per Lot |
Prabhat Finance and Farsight Securities Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Prabhat Finance charges 0.03% for commodity trading, while Farsight Securities charges NA.
| Commodity Brokerage Charges | Prabhat Finance | Farsight Securities |
|---|---|---|
| Commodity Options Brokerage | 0.03% | NA |
Prabhat Finance and Farsight Securities Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Prabhat Finance levies a minimum brokerage fee of Percentage of Transaction, while Farsight Securities charges Percentage of Transaction brokerage fee.
Transaction Brokerage Charges: Prabhat Finance levies a transaction brokerage charge of 0.00315%, while Farsight Securities charges 0.00325%.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Prabhat Finance is 0.0002% of Total Turnover and for Prabhat Finance is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Prabhat Finance are 0.0126% of Total Turnover, while for Farsight Securities, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Prabhat Finance charges NA and Farsight Securities charges NA.
| Other Brokerage Charges | Prabhat Finance | Farsight Securities |
|---|---|---|
| Minimum Brokerage Charges | Percentage of Transaction | Percentage of Transaction | Transaction Brokerage Charges | 0.00315% | 0.00325% | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | NA |
Prabhat Finance and Farsight Securities Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Prabhat Finance is up to Upto 3x and by Farsight Securities it is up to Upto 2x.
Equity Intraday: Leverage for equity intraday by Prabhat Finance is up to Upto 5x and by Farsight Securities it is up to Upto 10x.
Equity Futures: Leverage for Equity Futures by Prabhat Finance is up to Upto 3x and by Farsight Securities it is up to Upto 2x.
Equity Options: Leverage for Equity Options by Prabhat Finance is up to Upto 6x and by Farsight Securities also, it is up to Upto 4x.
| Equity Leverage | Prabhat Finance | Farsight Securities |
|---|---|---|
| Equity Delivery | Upto 3x | Upto 2x | Equity Intraday | Upto 5x | Upto 10x | Equity Futures | Upto 3x | Upto 2x | Equity Options | Upto 6x | Upto 4x |
Prabhat Finance and Farsight Securities Currency Leverage
The currency futures leverage provided by Prabhat Finance is up to Upto 2x, while for Farsight Securities it is up to Upto 2x.
The currency options leverage provided by Prabhat Finance is up to Upto 1x, while for Farsight Securities it is up to Upto 2x.
| Currency Leverage | Prabhat Finance | Farsight Securities |
|---|---|---|
| Currency Futures | Upto 2x | Upto 2x | Currency Options | Upto 1x | Upto 2x |
Prabhat Finance and Farsight Securities Commodity Leverage
The commodity leverage provided by Prabhat Finance is up to Upto 3x, while for Farsight Securities it is up to Upto 1x.
| Commodity Leverage | Prabhat Finance | Farsight Securities |
|---|---|---|
| Commodity | Upto 3x | Upto 1x |
Prabhat Finance and Farsight Securities Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Prabhat Finance | Farsight Securities |
|---|---|---|
| Free Stock Trading Account | No | Yes | Free Demat Account | Yes | No | Flexible Plans | Yes | No | Brokerage Discounts | No | Yes | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | No | Referral Program | No | No | Zero Brokerage on Loss Trades | No | No |
Prabhat Finance and Farsight Securities Features
Equity Trading: Prabhat Finance and Farsight Securities brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Prabhat Finance and Farsight Securities also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Prabhat Finance and Farsight Securities broker is that you can also invest in IPOs. Prabhat Finance also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Prabhat Finance offers trading exposure of up to Upto 5x, while Farsight Securities gives up to Upto 10x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Prabhat Finance and Farsight Securities, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Prabhat Finance and Farsight Securities also allow you to trade in forex trading.
| Features | Prabhat Finance | Farsight Securities |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | Yes | IPO (Initial public offering) | Yes | No | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | No | No |
| Trading Institution | No | No | Trading Exposure | Upto 5x | Upto 10x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Prabhat Finance and Farsight Securities Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Prabhat Finance and Farsight Securities offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Prabhat Finance | Farsight Securities |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | No | No |
| Company Reports | No | No |
| Annual Reports | No | No |
| Company Stock Review | No | No |
| Free Stock Tips | Yes | Yes |
| IPO Reports | Yes | No |
| Top Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Reports | Yes | Yes |
| Weekly reports | Yes | Yes |
| Offline Advisory | Yes | Yes |
| Relationship Manager | Yes | Yes |
Prabhat Finance and Farsight Securities Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Prabhat Finance and Farsight Securities offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Prabhat Finance | Farsight Securities |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Prabhat Finance and Farsight Securities Mobile Trading Platforms
Prabhat Finance and Farsight Securities offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Prabhat Finance | Farsight Securities |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Prabhat Finance and Farsight Securities Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Prabhat Finance and Farsight Securities give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Prabhat Finance | Farsight Securities |
|---|---|---|
| Relationship Manager | Yes | No |
| Offline Trading | Yes | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | 480 | 7 |
Prabhat Finance and Farsight Securities Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Prabhat Finance and Farsight Securities registered and resolved complaints.
For Prabhat Finance, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.
For Farsight Securities, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Prabhat Finance is better than Farsight Securities in case of resolving customer complaints.
| BSE Complaints | Prabhat Finance | Farsight Securities |
|---|---|---|
| BSE Complaints | 1 | 0 |
| BSE Resolved Complaints | 1 | 0 |
| Percentage of resolved BSE complaints | 100.00 % | NaN % |
| NSE Complaints | 5 | 1 |
| NSE Resolved Complaints | 5 | 1 |
| Percentage of resolved NSE complaints | 100.00 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % | NaN % |
Frequently Asked Questions
Is Prabhat Finance better than Farsight Securities?
Prabhat Finance and Farsight Securities are at the top among the best full service brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Farsight Securities better than Prabhat Finance?
Farsight Securities and Prabhat Finance are at the top among the best full service brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Prabhat Finance and Farsight Securities?
Prabhat Finance and operate as full-service brokers, generally resulting in higher brokerage charges compared to discount brokers. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Prabhat Finance and Farsight Securities?
To figure out which of the two stockbrokers, Prabhat Finance and Farsight Securities, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Prabhat Finance with other stock brokers
Visit the following pages to see a detailed comparision report of Prabhat Finance with other brokerage firms.
Compare Farsight Securities with other stock brokers
Visit the following pages to see a detailed comparision report of Farsight Securities with other brokerage firms.