Axis Direct review
Compare the pros and cons below to see if Axis Direct is the right broker for you.
Axis Direct is the online brand of Axis Securities, a popular full-service brokerage in India. Axis Direct offers retail brokerage services and simplified investment solutions to over 3.6 million customers. You can learn more about investing, conduct due diligence and trade a variety of financial instruments, all through multiple Axis Direct platforms.
This article will explore what Axis Direct has to offer you as well as any other details you should consider before signing up with them.
Minimum Opening Balance
Stocks, ETFs, Funds, Bonds, Derivatives, Commodities
What you can trade?
Types of support
What markets can I trade with Axis Direct?
As Axis Securities is a full-service brokerage, you can access both US and Indian exchanges on Axis Direct platforms. Do note that like many brokers in India, US trading services are provided by Vested Finance, a US-registered investment advisory, and not by Axis Direct itself.
You can trade on a number of exchanges through Axis Direct including the NYSE, NASDAQ, CBOE (for the US) and NSE, BSE, MCX and the NCDEX (for India).
Axis Direct accounts
As a client of Axis Direct, you can choose from a typical demat account which allows you to hold securities overnight, and a trading account which allows you to carry out intraday buy and sell orders. Additionally, Axis Direct offers a 3-in-1 account which is a banking, demat and trading account rolled into one.
Axis Direct trading account features
Here are the perks you could enjoy with the Axis Direct trading account:
- Wide variety of financial products.
- Equities: Although equities are one of the first asset classes most investors are exposed to, Axis Direct offers a huge range of instruments, even just for equities. Investors can choose from 7 different equity products, ranging from Inter-Settlement, where you can buy a company’s shares and sell them tomorrow, to Equity SIP, where your funds are automatically invested every month.
- ETFs: Great vehicles for the everyday investor, ETFs are packaged investment vehicles with multiple company’s shares under their belt. Axis Direct offers ETFs for both US and Indian equities.
- Derivatives: Hedge and speculate on the moves of stocks, foreign exchange pairs, commodities and indexes using derivatives. You can trade intraday, margin and cover order futures as well as cover order and margin options with Axis Direct.
- Mutual Funds: Axis Direct offers more than 6000 schemes across 23 mutual fund companies.
- IPOs: Invest in the future through IPOs, the process in which shares of a company are offered on an exchange and to the public for the first time. By participating in the IPO, you get in before the crowd does.
- Multiple trading platforms to choose from.
- RING Mobile. RING mobile is Axis Direct’s investment app, available on both Android and iOS. You can analyse charts, screen for new ideas and track your profits — all while being able to trade on the go.
- Axis Direct web portal. The Axis Direct web portal allows you to invest through your web browser, whether you are on your mobile, tablet or computer. Thanks to its simple interface and convenient filters, you can focus on making the right trades.
- RING PC. RING PC is a full-fledged trading platform, with features that a sophisticated and experienced trader would expect. With advanced technical indicators, sentiment heatmaps and more, RING PC is the platform for seasoned investors.
- Tools and research. With Axis Direct, you can expect the typical additional services, including screeners, calculators and market news updates.
- Alerts. Get notified of critical stock movements, news and company announcements with Axis Securities’ alerts. You can customise the thresholds of stock movements or the specific companies whose announcements you would like to be notified of.
- Customer support. Axis Direct offers both telephone and email support for account or platform inquiries.
What are Axis Direct’s fees?
Brokerage pricing plans
Axis Direct offers three brokerage pricing plans.
- Fixed Plan: The Fixed Plan is the base account tier offered by Axis Direct, with the standard brokerage fees (see below) and account opening charges of ₹999.
- Investment Plus Plan: Get your account opening fee waived and the first ₹3,00,000 in delivery turnover for free, all just for ₹1,500.
- Now or Never Plan: For ₹5,555, you can get ₹12,00,000 in delivery turnover for free in the first year and reduced brokerage charges for cash, intraday and futures trades.
Trading and transaction fees
Here is a short summary of other important fees you should take note of.
- Brokerage fees. For Fixed Plan and Investment Plus Plan, the cash trades are charged at 0.5% while both intraday and futures trades are charged at 0.05%. Now or Never Plan charges 0.25% for cash and 0.03% for intraday and futures trades. Options, on the other hand, cost ₹20 per lot for each trade. Do note that if you intend to buy and hold in your demat account, you won’t pay any brokerage fees. Rather, you’ll be subjected to demat transaction charges upon selling.
- Transaction charges. From clearing fees to exchange turnover costs, these charges could amount to 0.00325% of your order.
- SEBI charges. An additional fee of 0.00015% of traded amount.
- GST charges. An 18% tax will be levied on your total charges.
Please note that the fees above are not exhaustive and will differ depending on how you use your broker account. You can refer to Axis Direct’s website for a detailed list of fees to estimate exactly how much you might end up paying.
Pros and cons
- Offers a mobile trading app with features comparable to that of a desktop trading platform
- Provides access to a wide-range of financial securities on Indian and US exchanges
- No access to cryptocurrency
Is Axis Direct safe?
Axis Direct is the online brand of Axis Securities which is a wholly-owned subsidiary of Axis Bank, the third-largest private sector bank in India. Besides having attained the necessary licences and registrations with the NSE, BSE and SEBI, Axis Securities has a 16-year-history of offering investment services throughout India. Axis Bank also has key State Bank of India personnel, seasoned executives and the former Chief Investment Officer of IFC on its board, ensuring thorough regulatory oversight of the company’s practices.
As a result, Axis Direct is generally considered safe.
Note: Investing and trading always carry risks which you should be aware of, so read up before you start investing. Do your research and compare brokers in India before signing up with any trading platform.
How do I sign up for an account?
You can sign up with an Axis Direct account easily online. Visit the official website and follow the steps below.
- Fill up the Axis Direct online registration form. The details required may include your name, mobile number and email address.
- You will be prompted to submit supporting documents. This includes your PAN number, proof of residence – Aadhaar card, driver’s licence, voter ID or passport, a cancelled cheque and a passport-size photo.
Axis Direct is a well-established brokerage that offers easy-to-use platforms with a variety of financial instruments like US equities and IPOs. This is combined with the convenience of Axis Direct’s 3-in-1 trading account, which eliminates the need to maintain a separate demat and trading account. However, most of these features are provided at a steep cost compared to the rest of the market.
As such, Axis Direct is best suited for the everyday investor who is not only looking to build a diversified portfolio but also seeking reliable brokerage services of a household name, though at a slightly steeper cost.
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