Top Stock Advisory
Prudent Broking vs. Prabhat Financial
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 Prudent Broking and Prabhat Financial. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Prudent Broking and Prabhat Financial.
Overview
Prudent Broking is private company and Prabhat Financial is public company. both are full service broker as well. Munjal Jayant Mehta co-founded Prudent Broking in 2004. And Prabhat Financial was founded in the year 1995 by Vinod Kumar Rathi. Prudent Broking's headquarters are in Ahmedabad, GJ and Prabhat Financial's headquarters are in KANPUR (U.P.).
Prudent Broking and Prabhat Financial both are full service broker as well. Prudent Broking is registered in NA, while Prabhat Financial is registered in NA. The total branches of Prudent Broking are Nil and the Prabhat Financial branches are Nil.
| Overview | Prudent Broking | Prabhat Financial |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Private | Public |
| Headquarter | Ahmedabad, GJ | KANPUR (U.P.) |
| Founders | Munjal Jayant Mehta | Vinod Kumar Rathi |
| Foundation Year | 2004 | 1995 |
| Supported Exchanges | NA | NA |
| Total branches | Nil | Nil |
Prudent Broking and Prabhat Financial 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 Prudent Broking charging Rs.310 and Prabhat Financial charging Rs.100.
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 Prudent Broking Demat account is Rs.310 per Annum and for the Prabhat Financial Demat account is Free. The Trading AMC for Prudent Broking and Prabhat Financial 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 Prudent Broking and Prabhat Financial is CDSL.
| Account Opening and Demat Charges | Prudent Broking | Prabhat Financial |
|---|---|---|
| Trading Account Opening Charges | Rs.310 | Rs.100 |
| Demat AMC (Annual Maintenance Charges) | Rs.310 per Annum | Free |
| Trading AMC (Annual Maintenance Charges) | Free | Rs.299 per Annum |
| Margin Money | Minimum Rs.5,100 | Minimum Rs.3,100 |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Prudent Broking and Prabhat Financial 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 Prudent Broking is 0.51%, while Prabhat Financial charges you 0.25%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Prudent Broking is 0.05% and for Prabhat Financial also, it is 0.03%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Prudent Broking charge 0.05% and Prabhat Financial charge 0.03% 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, Prudent Broking charges Rs.51 per Lot, and Prabhat Financial charges Rs.25 per Lot.
| Equity Brokerage Charges | Prudent Broking | Prabhat Financial |
|---|---|---|
| Equity Delivery Brokerage | 0.51% | 0.25% |
| Equity Intraday Brokerage | 0.05% | 0.03% |
| Equity Futures Brokerage | 0.05% | 0.03% |
| Equity Options Brokerage | Rs.51 per Lot | Rs.25 per Lot |
Prudent Broking and Prabhat Financial 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 Prudent Broking is 0.05% and for Prabhat Financial is 0.03%.
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. Prudent Broking charges Rs.31 per Lot for currency options, whereas Prudent Broking charges Rs.15 per Lot.
| Currency Brokerage Charges | Prudent Broking | Prabhat Financial |
|---|---|---|
| Currency Futures Brokerage | 0.05% | 0.03% |
| Currency Options Brokerage | Rs.31 per Lot | Rs.15 per Lot |
Prudent Broking and Prabhat Financial 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. Prudent Broking charges 0.05% for commodity trading, while Prabhat Financial charges 0.03%.
| Commodity Brokerage Charges | Prudent Broking | Prabhat Financial |
|---|---|---|
| Commodity Options Brokerage | 0.05% | 0.03% |
Prudent Broking and Prabhat Financial Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Prudent Broking levies a minimum brokerage fee of Percentage of Transaction, while Prabhat Financial charges Percentage of Transaction brokerage fee.
Transaction Brokerage Charges: Prudent Broking levies a transaction brokerage charge of 0.00315%, while Prabhat Financial charges 0.00315%.
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 Prudent Broking is 0.0002% of Total Turnover and for Prudent Broking 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 Prudent Broking are 0.0126% of Total Turnover, while for Prabhat Financial, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Prudent Broking charges NA and Prabhat Financial charges NA.
| Other Brokerage Charges | Prudent Broking | Prabhat Financial |
|---|---|---|
| Minimum Brokerage Charges | Percentage of Transaction | Percentage of Transaction | Transaction Brokerage Charges | 0.00315% | 0.00315% | 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 |
Prudent Broking and Prabhat Financial 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 Prudent Broking is up to Upto 2x and by Prabhat Financial it is up to Upto 2x.
Equity Intraday: Leverage for equity intraday by Prudent Broking is up to Upto 7x and by Prabhat Financial it is up to Upto 5x.
Equity Futures: Leverage for Equity Futures by Prudent Broking is up to Upto 3x and by Prabhat Financial it is up to Upto 3x.
Equity Options: Leverage for Equity Options by Prudent Broking is up to Upto 5x and by Prabhat Financial also, it is up to Upto 6x.
| Equity Leverage | Prudent Broking | Prabhat Financial |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 2x | Equity Intraday | Upto 7x | Upto 5x | Equity Futures | Upto 3x | Upto 3x | Equity Options | Upto 5x | Upto 6x |
Prudent Broking and Prabhat Financial Currency Leverage
The currency futures leverage provided by Prudent Broking is up to Upto 3x, while for Prabhat Financial it is up to Upto 2x.
The currency options leverage provided by Prudent Broking is up to Upto 3x, while for Prabhat Financial it is up to Upto 1x.
| Currency Leverage | Prudent Broking | Prabhat Financial |
|---|---|---|
| Currency Futures | Upto 3x | Upto 2x | Currency Options | Upto 3x | Upto 1x |
Prudent Broking and Prabhat Financial Commodity Leverage
The commodity leverage provided by Prudent Broking is up to Upto 3x, while for Prabhat Financial it is up to Upto 3x.
| Commodity Leverage | Prudent Broking | Prabhat Financial |
|---|---|---|
| Commodity | Upto 3x | Upto 3x |
Prudent Broking and Prabhat Financial 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 | Prudent Broking | Prabhat Financial |
|---|---|---|
| Free Stock Trading Account | Yes | No | Free Demat Account | No | Yes | Flexible Plans | Yes | Yes | Brokerage Discounts | Yes | No | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | Yes | No | Referral Program | No | No | Zero Brokerage on Loss Trades | No | No |
Prudent Broking and Prabhat Financial Features
Equity Trading: Prudent Broking and Prabhat Financial 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: Prudent Broking and Prabhat Financial also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Prudent Broking and Prabhat Financial broker is that you can also invest in IPOs. Prudent Broking also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Prudent Broking offers trading exposure of up to Upto 7x, while Prabhat Financial gives up to Upto 5x.
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 Prudent Broking and Prabhat Financial, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Prudent Broking and Prabhat Financial also allow you to trade in forex trading.
| Features | Prudent Broking | Prabhat Financial |
|---|---|---|
| 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) | No | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | Yes | No |
| Trading Institution | Yes | No | Trading Exposure | Upto 7x | Upto 5x | Mutual Funds | No | Yes | SIP (Systematic Investment Plan) | No | Yes | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Prudent Broking and Prabhat Financial 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. Prudent Broking and Prabhat Financial 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 | Prudent Broking | Prabhat Financial |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| Company Stock Review | Yes | No |
| Free Stock Tips | Yes | Yes |
| IPO Reports | Yes | Yes |
| 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 |
Prudent Broking and Prabhat Financial 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. Prudent Broking and Prabhat Financial 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 | Prudent Broking | Prabhat Financial |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | No | Yes |
Prudent Broking and Prabhat Financial Mobile Trading Platforms
Prudent Broking and Prabhat Financial offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Prudent Broking | Prabhat Financial |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Prudent Broking and Prabhat Financial 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. Prudent Broking and Prabhat Financial 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 | Prudent Broking | Prabhat Financial |
|---|---|---|
| Relationship Manager | Yes | Yes |
| 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 | 20 | 480 |
Prudent Broking and Prabhat Financial 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 Prudent Broking and Prabhat Financial registered and resolved complaints.
For Prudent Broking, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.
For Prabhat Financial, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Prudent Broking is better than Prabhat Financial in case of resolving customer complaints.
| BSE Complaints | Prudent Broking | Prabhat Financial |
|---|---|---|
| BSE Complaints | 1 | 1 |
| BSE Resolved Complaints | 1 | 1 |
| Percentage of resolved BSE complaints | 100.00 % | 100.00 % |
| NSE Complaints | 12 | 5 |
| NSE Resolved Complaints | 12 | 5 |
| Percentage of resolved NSE complaints | 100.00 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % | 100.00 % |
Frequently Asked Questions
Is Prudent Broking better than Prabhat Financial?
Prudent Broking and Prabhat Financial 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 Prabhat Financial better than Prudent Broking?
Prabhat Financial and Prudent Broking 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 Prudent Broking and Prabhat Financial?
Prudent Broking 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, Prudent Broking and Prabhat Financial?
To figure out which of the two stockbrokers, Prudent Broking and Prabhat Financial, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Prudent Broking with other stock brokers
Visit the following pages to see a detailed comparision report of Prudent Broking with other brokerage firms.
Compare Prabhat Financial with other stock brokers
Visit the following pages to see a detailed comparision report of Prabhat Financial with other brokerage firms.