Axis Direct Broker Review
Comprehensive Review of Axis Direct: Platforms, Brokerage, and Services.
Open Account with Axis Direct1. Broker Overview
Full Name: Axis Securities Limited
Parent Company: Axis Bank Ltd.
Year of Axis Direct Launch: 2011 (Axis Securities incorporated 1994)
Type: Full-Service Broker (Bank-based)
Headquarters: Mumbai, Maharashtra
SEBI Stock Broker Reg. No: INZ000161633
Other Key SEBI Registrations:
- Research Analyst: INH000000297
- Portfolio Manager: INP000000654
- Investment Adviser: INA000000615
- Depository Participant (CDSL): IN-DP-403-2019
AMFI Reg. No (Mutual Fund Distributor): ARN-64610
IRDA Corporate Agent (Composite): CA0073
Website: simplehai.axisdirect.in
2. Investment Products Offered
Core Investment Products:
- Equity (Stocks – Delivery, Intraday on NSE & BSE)
- Equity Derivatives (Futures & Options)
- Currency Derivatives (Futures & Options)
- Commodity Derivatives (Futures & Options – MCX)
- Mutual Funds (Wide variety of schemes, SIPs)
- Initial Public Offerings (IPOs) & OFS
- Exchange-Traded Funds (ETFs)
- Fixed Income Products (Bonds, NCDs, Tax-Saving Instruments, Corporate FDs)
- SGBs (Sovereign Gold Bonds)
- NPS (National Pension System)
- Insurance Products
- Unlisted Shares (Pre-IPO & Unlisted Companies)
- SLBM (Stock Lending and Borrowing Mechanism)
- Loans (Loan Against Shares, etc.)
International Investing (U.S. Stocks via Vested Partnership):
- Invest in over 1,000 U.S. stocks and ETFs via the Vested platform.
- Access to “Vests” – professionally managed curated portfolios.
- Fractional investing starting from $1.
- Secure transactions with 256-bit encryption and SSL.
Portfolio Management Services (PMS – SEBI Registered):
- Discretionary PMS: Portfolio manager makes investment decisions based on client objectives.
- Non-Discretionary PMS: Client makes final decisions based on portfolio manager’s recommendations.
- Customized investment portfolios tailored to individual risk profiles and financial goals.
- Dedicated professional fund management team.
Suitable for high-net-worth individuals seeking personalized strategies and professional oversight.
3. Overall Ratings & Breakdown
4. Account Opening & AMC
Account Opening Charges
Axis Bank Customers:Free
Non-Axis Bank Customers:₹350 (First Year)
Annual Maintenance Charges (AMC)
Standard AMC (from second year onwards):
₹750 per annum (for both Axis Bank & Non-Axis Bank customers)
BSDA (Basic Services Demat Account) AMC:
- Holdings up to ₹50,000: Nil
- Holdings between ₹50,001 and ₹2,00,000: ₹100 per annum
- Holdings above ₹2,00,000: Treated as regular account (₹750 per annum)
Account Opening Process:Online (seamless with Axis Bank account for 3-in-1) & Offline options available, supported by branch network.
Required Documents:PAN Card, Aadhaar Card, Bank Proof (Axis Bank account preferred for 3-in-1), Signature, Income Proof (for F&O).
5. Brokerage Charges (Standard Plan)
The charges below represent Axis Direct’s standard brokerage rates. Axis Direct also offers fixed brokerage plans (e.g., ₹20 per order for certain segments). **It is crucial to verify the exact rates for your chosen plan with Axis Direct, as they can vary significantly.**
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | 0.75% (Minimum ₹50 or 2.5% of order value, whichever is higher) |
| Equity Intraday | 0.05% per executed order |
| Equity Futures | 0.05% per executed order |
| Equity Options | ₹25 per lot |
| Currency Futures | 0.05% per executed order |
| Currency Options | ₹25 per lot |
| Commodity Futures | 0.05% per executed order |
| Commodity Options | ₹25 per lot |
Important: The rates above are for the standard plan. Axis Direct frequently offers fixed brokerage plans that may be more cost-effective for active traders. Always confirm the applicable brokerage plan and charges before trading. Statutory charges will apply over and above brokerage.
6. Other Charges & Taxes
Demat Related Service Charges
| Service | Charge |
|---|---|
| Dematerialization | ₹100 per certificate |
| Rematerialization | ₹200 for every 100 securities or part thereof |
| Debit Transaction (Sell from Demat) | 0.04% of the transaction value or ₹25 per instruction (whichever is higher) |
| Pledge Creation/Closure/Invocation | 0.04% of the transaction value or ₹50 per instruction (whichever is higher) |
| Failed/Rejected Instruction | ₹10 per instruction |
| DIS Booklet (First – 10 Leaves) | Free |
| DIS Booklet (Additional) | ₹100 per booklet |
Regulatory & Government Charges
Securities Transaction Tax (STT)
| Segment | STT Rate |
|---|---|
| Equity Delivery | 0.1% on buy & sell |
| Equity Intraday | 0.025% on the sell side |
| Equity Futures | 0.01% on the sell side |
| Equity Options | 0.05% on the sell side (on premium) |
Goods and Services Tax (GST)
18% on brokerage, transaction charges, and certain other fees.
Stamp Duty (Gujarat Specific Rates – Varies by State)
| Segment | Stamp Duty Rate (Buy Side) |
|---|---|
| Equity Delivery | 0.015% or ₹1500 per crore |
| Equity Intraday | 0.003% or ₹300 per crore |
| Equity Futures | 0.002% or ₹200 per crore |
| Equity Options | 0.003% or ₹300 per crore |
| Currency | 0.0001% or ₹10 per crore |
| Commodity Futures | 0.002% or ₹200 per crore |
| Commodity Options | 0.003% or ₹300 per crore |
Note: Stamp duty rates vary by state. The above are indicative for Gujarat.
SEBI Charges
₹10 per crore on transaction value (for all segments).
Transaction Charges (Exchange Turnover Charges – NSE Example)
| Segment (NSE) | Transaction Charge Rate |
|---|---|
| Equity Delivery & Intraday | 0.00325% on turnover |
| Equity Futures | 0.0019% on turnover |
| Equity Options | 0.05% on premium turnover |
Note: BSE charges may vary. Commodity exchange charges also apply.
Disclaimer on Charges: All charges mentioned are exclusive of GST and other applicable statutory levies. These charges are indicative and may vary based on specific plans, client categories, or promotional offers by Axis Direct. For the most accurate and up-to-date information, please refer to Axis Direct’s official Schedule of Charges available on their website or contact their customer support.
7. Margin & Leverage
Intraday (Equity):Up to 5x (Varies by stock & SEBI regulations).
F&O (All Segments):As per Exchange requirements (SPAN + Exposure margin).
Delivery (Equity – MTF/E-Margin):E-Margin facility available for buying stocks on margin. Interest charges apply.
Against Pledged Shares:Yes, margin available against pledged shares after the applicable haircut.
8. Trading Platforms
Web:AxisDirect.in (Main Portal), RING (Newer, Mobile-first Web Platform)
Mobile:Axis Direct RING App (Android & iOS – Recommended), Axis Direct Mobile App (Older version)
Desktop:Axis Direct SPEED (Downloadable Trading Terminal)
Notable Features:
- Seamless 3-in-1 Account experience with Axis Bank.
- RING platform offers a modern UI, advanced charting (TradingView), and quick order placement.
- Research reports, stock ideas, and trading calls integrated within platforms.
- Portfolio tracking, analytics, and various order types.
- Guest Login available for exploring platforms before opening an account.
9. Tools, Features & Advisory
Charting:Advanced charting with TradingView on RING platform; standard charting on older portal.
Option Chain:Available with Greeks and other analytical tools.
Strategy Builder:Tools for building and analyzing options strategies.
API Access:[Verify public availability of API, associated charges, and features].
Order Types:Market, Limit, Stop-Loss (SL), GTT/VTC (Good Till Triggered/Cancelled), AMO (After Market Orders), Basket Orders, Cover Orders, etc.
Research & Advisory:
Known for strong research capabilities:
- Detailed research reports (Fundamental, Technical, Economic, Sectoral).
- Actionable stock recommendations, investment ideas, model portfolios.
- Relationship Manager and personalized advisory support (often plan dependent).
- “Trade-Guide Signal” (Robo-advisory tool).
10. Extra Features & Value Adds
3-in-1 Account:Convenient integration of Axis Bank Savings Account, Demat, and Trading account for smooth fund transfers.
Strong Research Team:In-house research provides access to detailed market insights and recommendations.
Relationship Manager (RM) Support:Personalized assistance and guidance for eligible clients (often based on AUM or plan).
Extensive Branch Network:Physical support and services available through Axis Bank’s widespread branch network.
RING Platform:Modern, user-friendly, mobile-first trading platform with enhanced UI/UX.
Educational Resources:Provides webinars, articles, tutorials, and market education initiatives.
YIELD – Bond Investing:Dedicated platform for investing in Bonds & Debentures.
11. Pledge Facility
Pledging Allowed?Yes
Pledge/Unpledge Charges:0.04% of the transaction value or ₹50 per instruction (whichever is higher) + GST. Refer to Section 6 (“Other Charges & Taxes”) for details.
Margin Availability Time:Usually margin is available on T+1 day (next trading day) after successful pledging.
12. Fund Transfer & Withdrawal
Supported Fund Transfer Methods:Net Banking (Instant transfer with linked Axis Bank account), UPI, NEFT/RTGS.
Withdrawal Process & Time:
Online withdrawal requests. Funds are typically credited to the linked Axis Bank account within 24 working hours if requested before the cut-off time.
Fund Transfer/Withdrawal Charges:Generally free for transfers from/to a linked Axis Bank account. Charges may apply for other methods or banks. [Verify].
13. Customer Support
Resident Indians:
All Products Trading and Queries:
- Phone: 022-40508080, 022-61480808
- Email (Trading Queries): helpdesk@axisdirect.in
- Phone: 022-68515400
- Email: dphelp@axisdirect.in
- Phone: 022-42274564
- Email: helpdesk@axisdirect.in (shared with general trading)
- Monday to Friday: 8.45 AM – 5.30 PM IST
- Saturday: 10:00 AM to 01:00 PM IST (1st, 3rd and 5th Saturdays)
- Commodities/Currency Timings: Monday to Friday: 8.45 AM – 11:55 PM IST
NRI (Non-Resident Indians):
All Products Trading and Queries:
- Phone (India): 022-61480809
- Email: nri@axisdirect.in
- UAE: 8000188290
- UK: 8000315086
- Singapore: 8001013356
- Australia: 1800735536
- Other Countries: +91-22-61480809 (Call charges apply)
- Monday to Friday: 8.45 AM – 7.00 PM IST
- Saturday: 10:00 AM to 01:00 PM IST (1st, 3rd and 5th Saturdays)
Other Support Channels:
- Live Chat on Website/RING App
- Extensive Branch Support (Through Axis Bank network)
- Dedicated Relationship Manager (for eligible clients)
- Virtual Assistant / Chatbot on platforms
- Comprehensive FAQ & Knowledge Base online
14. AXIS DIRECT BROKER COMPLAINT DATA (FY 2024–25)
NSE (National Stock Exchange)
Active Clients: 412,201
Total Complaints: 24
Resolved: 20
Non-Actionable: 1
Pending: 3
BSE (Bombay Stock Exchange)
Active Clients: 86,892
Total Complaints: 5
Resolved: 5
Non-Actionable: 1
Pending: 0
Sources: GarvThakur – Axis Direct Complaints, Chittorgarh – Axis Direct Complaint Monitor.
Complaint data is dynamic. Always cross-verify with official exchange reports for the latest figures and consider the complaints-to-active-clients ratio for a better perspective.
Complaint data is dynamic. Always cross-verify with official exchange reports for the latest figures and consider the complaints-to-active-clients ratio for a better perspective.
15. Why Choose Axis Direct? (And Why It Might Not Be For You)
Reasons to Use Axis Direct (Pros)
- Strong Parentage: Backed by Axis Bank, ensuring trust and stability.
- 3-in-1 Account: Seamless integration of banking, demat, and trading for Axis Bank customers.
- Comprehensive Research: Access to good quality, in-depth research reports and trading recommendations.
- RING Platform: Modern and intuitive mobile-first trading platform with advanced features like TradingView charts.
- Wide Range of Products: Offers diverse investment options including global investing (via Vested) and PMS.
- Extensive Branch Network: Access to in-person support and services through Axis Bank’s vast branch network.
- Offers Fixed Brokerage Plans: Provides options for flat-fee brokerage plans which can be competitive.
- Dedicated NRI Services: Strong support and offerings for NRI clients.
Reasons to Reconsider Axis Direct (Cons)
- Higher Brokerage on standard (percentage-based) plans compared to pure discount brokers. Ensure you explicitly opt for a fixed plan if cost is a major factor.
- Annual Maintenance Charges (AMC) can be on the higher side if not on specific plans or promotional offers.
- Older web portal (AxisDirect.in) might feel less intuitive; RING platform is the preferred modern interface.
- Full benefits of dedicated RM and premium advisory are often tied to higher AUM or premium plans.
- Occasional reports of platform glitches or performance issues, though improvements are ongoing.
- Call and Trade charges can be high if frequently used.
- Debit transaction charges from Demat can add up for active traders.
16. Current Offers & Referral Program
Account Opening Offers:Frequently runs promotions like waiver of account opening fees, free AMC for the first year, or brokerage cashback. [Check Axis Direct official website for current offers].
Refer & Earn:Yes, Axis Direct usually has a referral program with benefits for both referrer and referee. [Verify details on their website].
Promo Code:May be available during specific marketing campaigns or via partners/referrals.
Important: Offers and promotions are dynamic and subject to change. Always verify the latest details on Axis Direct’s official website before making any decisions.