Axis Direct Review 2020, Brokerage Charges - Best Stock Broker

Axis Direct Review 2020& Brokerage Charges

Axis Direct Review

Axis Direct review 2020

The name of Axis Bank is quite prevalent in the Indian banking sector and Axis Direct is nothing but the stock broking extension of the bank that offers full-service broking services to traders and investors in India. Established in the year 2005, Axis Direct is considered among the leading full-service brokers in India.

The India’s 3rd largest private sector bank has launched Axis Direct to offer demat account services to customers in India. As per the latest data, the leading stock broker is ranked the 4th largest provider of demat accounts preceded by ICICI Direct, HDFC Securities and Sharekhan.

Alike some other full-service brokers in India, Axis Direct also offers 3-in-1 account which is quite easy to operate for the users.

Axis Securities Limited is basically subsidiary of Axis Bank. The Broker enjoys full-fledged membership in NSE, BSE, MCX-SX, and Depository Participant with CDSL. The primary business steam of the leading stock broker of India is to allow investment in Equities, MF, SIPs, IPOs, Derivatives, Bonds, NCDs, Exchange Traded Funds and Company Fixed Deposits.

The bank-based stock broker has carved a niche in the field of stock broking by offering technology-backed broking services in a remarkable way.

With a remarkable presence of 75 branches across India, Axis Direct is one of the rapidly growing full-service stock brokers in India.

According to a latest report, Axis Direct is known to have the highest active client database in the industry. The broker has a total of nearly 4 lakh active clients which is certainly one of the highest in the stock broing domain.

Axis Direct conduct quality research due to its strong expertise of Enam. It also gives access to research providers like Reuters, The Screener and Recognia to help traders and investors make smarter investment decisions. Axis direct offers NRI Trading Account as well to Invest in Equities, Initial Public Offerings, gold ETFs, Mutual Funds and Futures & Options.

The investment products offered by Axis Direct include:

  • Equity
  • Derivatives
  • Savings Account
  • Mutual Funds
  • SIPs
  • Bonds
  • NCDs
  • Exchange Traded Funds
  • Company Fixed Deposits
  • Loans
  • Gold ETFs

Membership Information

The membership details of Axis Direct are given below.

 

EntityMembership ID
BSEINB/INF 011481638
NSEINB/INF/INE 231481632
MSEIINB/INF/INE 261481635
CDSLIN-DP-CDSL-693-213
Registered AddressUnit No, 2 Phoenix Market City, 15, LBS Road, Near Kamani Junction, Kurla(West), Mumbai-400070.

Process to Open an account at Axis Direct

Axis Direct enables a very easy system for online trading for its clients when it comes to invest in Equity, Derivatives, Mutual Funds and IPO’s. To invest or trade in stock market with Axis Direct, one needs to open an account with the stock broker. Axis Direct offers 3 in 1 account. They have an extensive network of branches which makes account opening really simple.

To open account with Axis Direct there are few simple ways:

  1. Fill an online registration form on Axis Direct website. Enter your name, phone number, email address and city and submit the form. After submitting the details, one of the representative from Axis Direct will get back to you to help you complete the other account opening formalities.
  2. Visit one of the nearby branches of Axis Direct.
  3. Download ” Account opening form” right from their website. PDF file link is available on download section. Fill the form and submit to your nearest branch or courier them.

Axis Direct Account Opening Status

Once you submit the account opening form to their branch or filled the application online, you can easily check the status of account opening online by visiting the ‘Account Opening Status’ on the Customer Service page of AxisDirect.co.in. You just need to enter ‘Application Form Number’ to check the application status online.

If you have registered online and no executive visited your home, you can choose to visit the local Axis Bank branch or call customer services helpline to prioritize the Axis Direct account opening process.

Axis Direct Account Opening Form

Axis Direct Account Opening Forms are easily available in Axis Bank branches. You can also call Axis Bank sales helpline to get an executive visit to your home and he will take the forms along with him. The fastest option is to download the account opening form right on their website.

Account Opening Charges

  • Axis Direct Account Opening Charges (Trading Acct): ₹900 (3 in 1 account)
  • Axis Direct AMC Charges (Trading Acct): ₹0
  • Axis Direct Account Opening Charges (Demat Acct): ₹0
  • Axis Direct AMC Charges (Demat Acct): ₹650 (free for 1st year)

Documents Required

Here is a list of documents that are required to open an account with Axis Direct:

  • Proof of Identity
  • Proof of Address
  • Bank statement of last 6 months
  • Passport sized photograph
  • AMC Fees
  • Trading Account Check

Axis Direct Trading Platforms

 

There are different types of trading platforms made available by the full-service stockbroker and the terminal based software and the mobile app are known to have decent ratings in the market. At the same time, with the competition presented by the trading platforms devised by discount brokers in recent times is giving them a good run for their money. Yes, the overall performance and user experience of the platforms offered by Axis Direct are average but at the same time, there is a lot of room where these areas can be improved on.

Axis Direct Swift Trade

Swift Trade

It is a web-based trading platform and doesn’t present any need to download and install any software. The best thing about this platform is LIVE market feeds. You don’t need to click ‘Refresh’, as live streaming of quotes happens on your screen automatically.

Some of the features of the Swift Trade platform include:

  • Multiple Market watch
  • Research thoughts and tip available
  • Screen and dashboard personalization
  • Keyboard shortcuts for instant order placements and other features

Axis Direct Trade

Contrary to Swift Trade, Axis Direct Trade is actually a terminal-based trading platform that can be downloaded and installed on a desktop or laptop. Once you download and install it on your PC, you can choose to trade from anywhere. Its leading features include:

  • Search bar for rapid discovery of the particulars the client is searching for
  • Updated news, market reports, information on indices, currency rates etc – all available within the platform
  • A smoother user interface for quicker navigation and user
  • Trading tutorials and videos in an engaging way
  • Alerts and notifications as per user preferences

Axis Direct Mobile App

This mobile-based trading platform by Axis Direct intends to bring stock market at your fingertips no matter where you’re. It features one-time registration that makes it easier for users to register and trade.

It is one of the widely used mobile trading app used by investors across the country.

  • Portfolio watch
  • Real-time streaming quotes
  • Option to create multiple streaming watchlists with customization
  • Intraday charts with minute by minute movement
  • Market orders can be turned off during non-market hours

Axis Direct Portal

Axis Direct Web Portal provides smoother access to traders to all trading segments across exchanges. The online trading website has been crafted using HTML5 and can be used on smartphones, desktop and laptop. Major features of Axis Direct trading website are:

  • Trade in various segments across exchanges under a single platform
  • Watch live markets and get latest updates on big-size indices, currency rates or your portfolio value.
  • Get updates on markets and market events
  • Get data and information in a simple card view
  • Built-in Smart INVEST and TRADE buttons for faster trading
  • Quizzes, webinars and videos etc., to sharpen trading knowledge
  • Tailored alerts and notifications

Axis Direct Customer Care

Since Axis Direct is powered by a leading private bank of India, it offers a number of communication channels to its clients. They include:

  • Offline branches
  • Email
  • Toll-Free Number
  • Phone number
  • Social Media
  • Webform

As the broker is associated with the leading Axis bank, traders and investors have high level of expectations. These expectations revolve around Turnaround Time, Call Quality, Executive Skills, Resolution Quality and lots others.

Whether it is branch-based assistance or online help via a web form, social media or email, the turnaround time is amazingly quick with excellent resolution quality.

The broker service timings are from 8.45 am to 5.30 pm on Weekdays and between 10 am and 1 pm on 1st, 3rd and 5th Saturdays of the week. 2nd and 4th Saturday along with all the Sundays are held as holidays with no customer assistance.

At the outset, the customer service offered by the full-service stockbroker can be trusted upon.

Axis Direct Pricing

The brokerage charges of Axis Direct are quite high. For example, the delivery trades are charged at 0.49% which actually refers, for ₹1,00,000 worth of delivery trade, you are supposed to pay ₹490 as brokerage charge.

Account Opening Charges

Transaction Fee
Axis Direct Account Opening Charges (Trading Acct)₹900 (3 in 1 account)
Axis Direct AMC Charges (Trading Acct)  ₹0
Axis Direct Account Opening Charges (Demat Acct)₹0
Axis Direct AMC Charges (Demat Acct)₹650 (FREE for 1st year)

 

What is the brokerage fee in Axis Direct? 

Axis Direct Brokerage Plan – [email protected]

SegmentBrokerage Fee
Flat Monthly Fee
Equity Delivery₹20 per executed order
Equity Intraday₹20 per executed order
Equity Futures₹20 per executed order
Equity Options₹20 per executed order
Currency FuturesNA
Currency OptionsNA
Commodity FuturesNA
Commodity OptionsNA

 

Axis Direct Brokerage Plan – Fixed Brokerage Plan

SegmentBrokerage Fee
Flat Monthly Fee
Equity Delivery0.50% (Each Leg)
Equity Intraday0.05% (Each Leg)
Equity Futures0.05% (Each Leg)
Equity OptionsIntraday: ₹0.01 per lot | Carry Forward: ₹10 per lot
Currency Futures0.05% (Each Leg)
Currency OptionsIntraday: ₹0.01 per lot | Carry Forward: ₹10 per l
Commodity Futures0.03% (Each Leg)
Commodity Options₹50 per lot

 

Demat Account Charges

ParticularsCharges
Account OpeningNil
Closure of AccountNil
First Year AMCNil
Annual Maintenance ChargesRs 650
Buy – Market and Off-MarketNil
Sell – Market and Off-Market0.04% of the value of the transaction (Min Rs 25 per instruction) whichever is higher.
Rejection / failsRs 10
Pledge Creation/Closure/Confirmation/ Invocation0.04% (Min Rs 50 per instruction)
Additional Account StatementsRs 100

 

Axis Direct Transaction Charges

SegmentTransaction Fee
Equity Delivery0.00325% (₹325/Cr)
Equity Intraday0.00325% (₹325/Cr)
Equity Futures0.0019% (₹190/Cr)
Equity Options0.05% (₹5000/crore)
Currency Futures0.0019% (₹190/Cr)
Currency Options0.05% (₹5000/crore)
Commodity

 

Axis Direct Margins

The exposure or margin details of Axis Direct are mentioned below.

Trading SegmentMargin AxisDirect
Equity Delivery100% (1x)
Equity IntradayUpto 10x
Equity Future100% (1x)
Equity Options100% (1x)
Currency Future100% (1x)
Currency Options100% (1x)
Commodity Future3x
Commodity Options100% (1x)

 

IPO

Axis Bank offers online & offline IPO applications for IPO’s at BSE and NSE exchanges.

There are primarily two ways to apply for IPO with Axis Bank

  1. Apply in IPO at Axis Bank Branches

Axis bank customer can choose to visit any Axis Bank branch and apply for an IPO. A customer applying offline in the branch needs to fill a ASBA application form and furnish information like Axis Bank account number, PAN Number and Demat account information.

Customer receives an acknowledgement slip with a reference number after finishing the application. Axis bank handles the rest of the process including locking the money in customer account and forwarding application to exchange.

  1. Apply Online at Axis Bank Website

Axis Bank customers can all apply in IPO’s online through its online banking website iConnect. Before using IPO online application, customer needs to register to IPOSmart by giving information such as demat account, PAN Number etc. After registration is done, customer can apply for IPO’s online on Axis Bank website in a simple way.

Axis Direct Online IPO Application Process

Online Investing in IPO’s with Axis Bank is simple, secure, quick and convenient way to invest in IPO’s at BSE and NSE. Below are few easy steps to apply IPO with Axis Direct:

  1. Login to Axis Direct website.
  2. Go to Trading >> IPO >> Current Issues. This shows list of IPO’s open for subscription.
  3. Allocated fund by click on Fund Hold & Release
  4. Click on Get Bank Balance button to know your current balance.
  5. Enter the amount you would like to apply in IPO and click Submit
  6. Go to Place Order tab, choose the IPO you would like to apply and Investor category as retail. Click on Proceed
  7. Enter the Quantity & Price, choose Cut off Price checkbox and click on Place Order.
  8. On next screen confirm you order by pressing Confirm
  9. On disclaimer page, at the bottom click I Agree button to proceed.
  10. You will get a confirm “Your application has been accepted successfully with reference number 987654321 and application number 123456788.”

Customer can jump to the Order Book page to check the placed order and its status anytime. The same page can be used to alter or cancel the IPO application which IPO bidding is underway.

Axis Bank 3-in-1 account holders can apply in IPO’s online or by visiting the Axis Bank branch. Axis Bank do not charge any fee or taxes from its customers with respect to their application in IPOs at BSE and NSE.

Axis Direct Research

The full-service stockbroker provides research and commendations at different levels. Therefore, whether you are looking for long-term investments or you wish to go for short-term quick profits, the broker ensures that  you get diverse valuable tips and research through multiple communication channels.

To be very precise, the broker has done separation in terms of research into three different levels:

Research Ideas

Under this, users are given with investment thoughts varying from intraday trading to long-term investments in the following segments based on technical analysis along with the recommendation type (buy, sell or accumulate):

  • Investment ideas
  • Trading ideas
  • Mutual fund ideas
  • SIP ideas

Research Reports

Under this, users get access to comprehensive research reports across various segments includng factors like macro and microeconomic news, investment choices, technical analysis across segments, disclosures, regular derivatives etc.

  1. Investment reports
  2. Trading reports
  3. Mutual fund reports
  4. Sector & economy reports
  5. DIY Research

The broker facilitates few tools to clients to help them carry out their own technical or fundamental analysis as listed below:

  • Screeners
  • Alert engines
  • Technical charting

In a nutshell, Axis Direct offers different channels to its clients for research and analysis with better than average precision. Users are suggested to carry out their analysis at the same time to validate the recommendations given by Axis Direct but overall the research quality is one of the good ones.

NRI Account

Axis NRI 4-in-1 Trading Account

Axis Bank NRI 4-in-1 investment account is a major offering to NRI’s. This account provides various online investment options in India under one login id. The 4-in-1 NRI account is the easiest way to invest in stock market and mutual funds in India.

Key Features of Axis 4-in-1 Trading Account

  • Combined account for trading ease
  • 100% online trading and investment
  • Trade online using advanced trading software and tools
  • Invest across stocks, equity derivatives, ETF, IPO, NCD, and Mutual Fund
  • Free stock research and tips
  • Trade on phone with call n trade facility

Axis 4-in-1 investment account is comprised of 4 different accounts:

  1. NRI PIS Saving Bank Account (NRE or NRO)
  2. NRI Non-PIS Saving Bank Account (NRE or NRO)
  3. NRI Demat Accounts
  4. NRI Trading Account

Axis NRI Bank Account

The 4 in 1 account has 2 bank accounts; a PIS NRI Saving Bank Account and a Non-PIS Saving Bank Account.

The PIS Account is meant to be used for buy/sell of equity stocks in India. All transactions from this account are stated to RBI by the bank.

The Non-PIS Account is for trading in derivatives, investments in mutual funds, ETFs and holding income earned from rent, business and other incomes in India.

  1. Axis NRI Demat Account

The NRI Demat accounts help traders in putting all purchased securities like stocks, IPO shares, and mutual funds, etc., in electronic format. In 4-in-1 account, the demat account is linked with an NRI bank account and NRI trading account.

Axis NRI Demat Account Review

    1. Axis bank is depository participant of NSDL.
    2. The NRI demat account is the same as resident demat account.
    3. An NRI has to choose the account subtype as Repatriable or Non-Repatriable.
    4. An NRE or NRO bank account needs to be linked with the demat account.
    5. The dividend, interest or bonus earnings are accredited automatically to the associated NRI bank account.
    6. Axis NRI Demat account is the most secured way to keep your holdings.
    7. It is necessary in India to have a demat account for stock market investment.
  1. Axis NRI Trading Account

The trading account allows the NRI customers to put buy/sell orders for stocks and derivatives trades. Customer use trading software’s given by the broker to place orders, watch market on real-time basis and check the status of orders made.

The Conclusion

Axis Direct is an elite-class stockbroker that levies heavy charges for various products & services. Therefore, users with good bank balance can think of availing its services.

The bank-based stockbroker is beneficial for beginners in only one aspect. If you are willing to have convenience of fund transfers then with the 3 in 1 demat account offered by Axis Direct, this thing becomes amazingly easy. This type of accounts makes the whole fund transfer process automatic.

In terms of customer services and market research Axis Direct’s performance is quite impressive. From providing quick query resolution to providing valuable investment tips from time to time, the full service brokers makes a lasting statement in the industry.