Reviews of Stock Brokers

Alice Blue

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Alice Blue, one of India's prominent Discount Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Alice Blue founded in 2006 by Sidhavelayutham M is a Private company headquartered in Bangalore, Karnataka India. As a Discount Broker, Alice Blue aims to provide cost-effective buy/sell orders, enabling investors to save money compared to full-service brokers. However, it is crucial to note that Alice Blue operates as a full-service brokers. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewAlice Blue
Broker TypeDiscount Broker
Type of companyPrivate
HeadquarterBangalore, Karnataka
FoundersSidhavelayutham M
Foundation Year2006
Supported ExchangesBSE, NSE, MCX
Total branches0

Alice Blue Account opening charges

To begin trading with Alice Blue, you need to open a trading account and a Demat account. Alice Blue charges Rs.100 for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.350 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesAlice Blue
Trading Account Opening ChargesRs.100
Demat AMC (Annual Maintenance Charges)Rs.350 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyZero
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Alice Blue Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. Alice Blue brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesAlice Blue
Equity Delivery Brokerage0.01% or Rs.10 per executed order
Equity Intraday Brokerage0.01% or Rs.10 per executed order
Equity Futures Brokerage0.01% or Rs.10 per executed order
Equity Options BrokerageRs.10 per executed order

Currency Brokerage Charges

Currency Brokerage ChargesAlice Blue
Currency Futures BrokerageRs.10 per executed order
Currency Options BrokerageRs.10 per executed order

Commodity Brokerage Charges

Commodity Brokerage ChargesAlice Blue
Commodity Options BrokerageRs.100

Alice Blue Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesAlice Blue
Minimum Brokerage ChargesRs.10 per executed order
Transaction Brokerage Charges0.00260% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.01% of Total Turnover
Call and Trade ChargesRs 20 per executed order

Alice Blue Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Alice Blue:

Equity LeverageAlice Blue
Equity DeliveryUpto 4x
Equity IntradayUpto 20x
Equity FuturesUpto 7x
Equity OptionsUpto 12x

Alice Blue Currency Leverage

Currency LeverageAlice Blue
Currency FuturesUpto 5x
Currency OptionsUpto 7x

Alice Blue Commodity Leverage

Equity LeverageAlice Blue
CommodityUpto 10x

Alice Blue Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersAlice Blue
Free Stock Trading AccountYes
Free Demat AccountYes
Flexible PlansNo
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramYes
Zero Brokerage on Loss TradesNo

Alice Blue Features

FeaturesAlice Blue
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingYes
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)No
Trading InstitutionNo
Trading ExposureUpto 20x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo

Alice Blue Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesAlice Blue
Fundamental ReportsNo
Research ReportsNo
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsNo
Top PicksNo
Daily Market ReviewNo
Monthly ReportsNo
Weekly reportsNo
Offline AdvisoryNo
Relationship ManagerNo

Alice Blue Trading Platforms

The Alice Blue trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.

Alice Blue Trading Platforms

Desktop Trading PlatformsAlice Blue
Desktop BrowserYes

Alice Blue Mobile App

The Alice Blue mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppAlice Blue
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Alice Blue Web Trading

For web-based trading, Alice Blue offers a powerful trading website known as Alice Blue trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.

Alice Blue Trade Terminal

Alice Blue offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.

Alice Blue Customer Support

Customer SupportAlice Blue
Relationship ManagerNo
Offline TradingNo
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support BranchesNo Branch

Alice Blue Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Alice Blue.

BSE ComplaintsAlice Blue
BSE Complaints156
BSE Resolved Complaints142
Percentage of resolved BSE complaints91.03%
NSE Complaints189
NSE Resolved Complaints172
Percentage of resolved NSE complaints91.01 %
BSE/NSE Complaint vs. Resolved Percentage91.02 %


In conclusion, Alice Blue offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Alice Blue can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.