Axis Direct Review
Compare the pros and cons below to see if Axis is the right broker for you.
Axis Securities is a popular full-service brokerage in India that offers its investment facilities to over 400,000 users. Axis Securities account holders can learn more about investing, conduct their due diligence and trade a variety of financial instruments — all through the Axis Direct platform.
This article will explore what Axis Securities has to offer you as well as any other details you should consider before signing up with them.
What markets can I trade with Axis Securities?
As Axis is a full-service brokerage, you can access both US and Indian exchanges on their 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 Securities themselves.
Specific exchanges whose securities can be traded include the NYSE, NASDAQ, CBOE (for the US) and NSE, BSE, MCX and the NCDEX (for India).
Axis Securities accounts
Clients of Axis Securities 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 offers a 3-in-1 account, which is a Trading, Demat and Bank 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 Securities 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 Securities 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 Securities.
- 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 Securities’ 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 Web Portal. The Axis 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 Securities, you can expect the typical additional services: screeners, calculators, market news updates and more.
- 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 Securities offers both telephone and email support for account or platform inquiries.
What are Axis Direct’s fees?
Brokerage pricing plans
Axis Securities offers three brokerage pricing plans.
- Fixed Plan: The Fixed Plan is the base account tier offered by Axis, with the usual brokerage fees and account opening charges.
- Investment Plus Plan: Get your account opening fee waived and the first Rs 3,00,000 in delivery turnover for free, all just for Rs 1500.
- Now or Never Plan: For Rs 5555, you can get Rs. 12,00,000 in delivery turnover for free in the first year, and your brokerage charges halved 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. All cash trades are charged at 0.5% while both intraday and futures trades are charged at 0.05%. Options on the other hand cost Rs. 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 0.003% of your order.
- GST Charges. An 18% tax will be levied on your total charges.
- SEBI Charges. An additional fee of Rs. 5 per crore of traded amount.
Account-related fees
The main account-related fee to note with Axis Securities is the monthly maintenance fee of Rs 210 (excluding GST).
Do note that the fees above are not exhaustive, and will differ depending on how you use your broker account. You can refer to Axis Securities’ website for a detailed list of fees and use their brokerage calculator to estimate exactly how much you might end up paying.
Pros and cons
Pros
- 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
Cons
- No access to cryptocurrency
Is Axis Securities safe?
Axis Securities is backed by Axis Bank, the third-largest private sector bank in India. Besides having attained the necessary licenses and registrations with the NSE, BSE and SEBI, Axis has a 14-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 Securities is generally considered safe.
Note: Investing and trading itself always carries 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 Securities account easily online. Visit Axis’s website and follow the steps below.
- Fill up the Axis Securities 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, Driving Licence, Voter Id, or Passport, a Cancelled Cheques and a Passport Size photo.
Bottom line
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’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 Securities is best suited for the everyday investor who is not only looking to build a diversified portfolio but also seeking the reliability brokerage services of a household name, though at a slightly steeper cost.
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