Review of Axis Direct Demat Account.

Started in 2005, Axis Direct is a brand of Axis Securities which offers retail broking and investment services. Axis Securities is a 100% owned subsidiary of Axis Bank ( earlier known as UTI Bank ).  

With over 75 branches spread across major cities in India, Axis Direct as of today has over 2.5 lakhs customers and is among the top-10 stock brokers in India. AxisDirect is growing at a rapid pace and with innovative advertising campaigns like “Simple Hai”, they are trying hard to re-invent themselves. 

BSE (Bombay Stock Exchange), NSE(National Stock Exchange) and SEBI have given license to Axis Direct to offer broking services in following segments:

  • Equities ( also known as Stocks/Shares )
  • Mutual Funds
  • Derivatives (Futures & Option )
  • IPOs
  • Currency Derivatives (Currency Futures)
  • Bonds
  • National Pension Scheme

Axis Direct Demat and Account Opening Charging

Axis Direct offers a 3-in-1 account, along with the trading account you will also have to open a Saving account and Demat account with Axis Bank. Below are the details of charges for opening a trading account and Axis Demat account:.

Transaction

FeesFrequency
AxisDirect Trading Account Opening charges
Rs 999Once
AxisDirect Trading Account Maintenance charges (AMC)NilNot applicable
AxisDirect Demat Account opening chargesNilNot applicable
AxisDirect Demat Account Maintenance chargesRs 650Yearly

Axis Direct Brokerage Charges

AxisDirect has launched new brokerage plans via which have further simplified the brokerage structure. Below are the details of three different plans:

  1. Fixed Brokerage Plan.
  2. Investment Plus Plan.
  3. Now or Never Plan.

Axis Direct Fixed Brokerage Plan

In this plan, the brokerage charged is a fixed percentage of total turnover of the trade. Usually, fixed brokerage plan is considered to a good choice for investors who do not execute more than a few trade every month.

Brokerage PlanTrading SegmentBrokerage percentage of turnover.
Fixed Brokerage PlanStocks Delivery0.50% of trade turnover.
Fixed Brokerage PlanStocks Intraday0.050% of trade turnover.
Fixed Brokerage PlanStocks Futures0.050% of trade turnover.
Fixed Brokerage PlanStocks OptionsRs 95 Per Lot

For instance, if you buy and sell shares of Infosys shares worth rupees two lakhs ( same day – hence intraday ), you will pay brokerage of Rs 100 which is calculated as below:

Buy Amount – Rs 100000

Sell Amount – Rs 100000

Total TurnOver – Rs 200000

Brokerage Paid (to Axis Direct) = 200000  * .05% = Rs 100** ( + Taxes )

Axis Direct Investment Plus Plan

Customers need to pay a fee of Rs 1500 to enroll into Investment Plus Plan. With this plan, although the brokerage charged remains as same as Fixed Brokerage Plan, the customer gets following advantages:

(a) Joining fees waiver – Account Opening Charges are waived off, hence a saving of Rs 999.

(b) Free Delivery TurnOver of Rs 300,000 – You pay zero brokerage until trade turnover of Rs 3 lakhs ( in stocks delivery ) segment.

Brokerage PlanTrading SegmentBrokerage percentage of turnover.
Investment Plus PlanStocks Delivery0.50% of trade turnover.
Investment Plus PlanStocks Intraday0.050% of trade turnover.
Investment Plus PlanStocks Futures0.050% of trade turnover.
Investment Plus PlanStocks OptionsRs 95 Per Lot

Axis Direct Investment Now or Never Plan

Customers need to pay a fee of Rs 5555 to enroll in Now or Never Plan. With this plan, customers receive a reduced brokerage and following advantages:

(a) Joining fees waiver – Account Opening Charges are waived off, hence a saving of Rs 999.

(b) Free Delivery TurnOver of Rs 1200,000 – You pay zero brokerage until trade turnover of Rs 12 lakhs ( in stocks delivery ) segment.

Brokerage PlanTrading SegmentBrokerage percentage of turnover.
Now or Never PlanStocks Delivery0.25% of trade turnover.
Now or Never PlanStocks Intraday0.030% of trade turnover.
Now or Never PlanStocks Futures0.030% of trade turnover.
Now or Never PlanStocks OptionsRs 50 Per Lot

Axis Direct Trading Platform

Axis Direct offers multiple trading platforms to its customers. 

Web-Browser Based Trading

Three different websites can be used for browser based trading:

  1. AxisDirect Lite –  AxisDirect Lite is a lighter trading platform developed which gives you an option to trade in Equities and Derivatives even with slower internet connections and/or smaller screen. The user interface was developed such that it can be used easily both on the mobile phone screen and desktop/laptops.
  2. Axis Direct WEB – Axis Direct Web is the website which can be used by Axis Direct customer to complete trading just via a web browser from anywhere in the world. The website is intuitive and feature-rich. It provides access insightful research at your fingertips so that you can take a trade knowing all details.
  3. Axis Swift Trade 2.0 – If you like to trade like a professional, Axis Swift trade 2.0 is the tool to use directly in your browser (no application installation needed). You get features like live streaming rates ( no need to click refresh – ever again ), you can also add multiple market watch-list and execute trades using the keyboard shortcuts.

Axis Direct Mobile Trading Application

Axis Bank has developed a native mobile trading application for Android and IOS devices. These applications allow customers to trade in equities and derivatives through their smartphones. The best thing about these applications is that using them we can execute the trades anytime / anywhere and hence you can execute the trade immediately even if you are away from your computer.

Our recommendation on Axis Direct

With the backing of Axis Bank, Axis Direct is a 3 in 1 account and hence transferring funds into and from the trading account to saving account is simple. AxisDirect offers a comprehensive 

AxisDirect offers investment options in over 20 financial products ( including stocks, derivatives, mutual funds, IPO’s, etc ) and hence it can become a one stop shop for every financial need. Axis also offers great web-based and native mobile applications for easy execution of trades. 

Although above are advantages, they still do not justify high brokerage charges. Hence we would recommend opening a trading account with AxisDirect, if you have an existing relationship with Axis Bank and you are a long term investor.