Anand Rathi and Alice Blue are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Anand Rathi is listed as a Public Discount Broker , established in 1994 and headquartered in Mumbai, while Alice Blue is listed as a Private Discount Broker , established in 2006 and headquartered in Bangalore.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Anand Rathi or Alice Blue is a better fit for your investment style, platform preference, and budget.
Anand Rathi is listed as a Public Discount Broker established in 1994 with headquarters in Mumbai and founded by Anand Rathi. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading, desktop terminal access and algo trading support and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. It follows a Standard Plan brokerage structure.
Alice Blue is listed as a Private Discount Broker established in 2006 with headquarters in Bangalore and founded by Sidhavelayutham M. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, live market tracking and secure platform controls. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Anand Rathi vs Alice Blue — A Comprehensive Company Overview
| Company Overview | Anand Rathi | Alice Blue |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Bangalore |
| Founder | Anand Rathi | Sidhavelayutham M |
| Establishment Year | 1994 | 2006 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Anand Rathi and Alice Blue.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Anand Rathi charges 0.30% of Transaction Value while Alice Blue charges Rs.15 per Trade or 0.05% (Whichever is Low).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Anand Rathi charges 0.30% of Transaction Value while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Anand Rathi charges 0.30% of Transaction Value while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Equity options: This charge applies to equity option contracts. Anand Rathi charges Rs.50 per Lot while Alice Blue charges Rs.15 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Anand Rathi charges 0.03% of Transaction Value while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Anand Rathi charges Rs.25 per Lot while Alice Blue charges Rs.15 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Anand Rathi charges 0.03% of Transaction Value while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Anand Rathi charges Rs.25 per Lot while Alice Blue charges Rs.15 per Trade.
Anand Rathi vs Alice Blue — Detailed Brokerage Comparison
| Brokerage | Anand Rathi | Alice Blue |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.30% of Transaction Value | Rs.15 per Trade or 0.05% (Whichever is Low) |
| Equity Intraday | 0.30% of Transaction Value | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Future | 0.30% of Transaction Value | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Option | Rs.50 per Lot | Rs.15 per Trade |
| Commodity Future | 0.03% of Transaction Value | Rs.15 per Trade or 0.05% (whichever is low) |
| Commodity Option | Rs.25 per Lot | Rs.15 per Trade |
| Currency Future | 0.03% of Transaction Value | Rs.15 per Trade or 0.05% (whichever is low) |
| Currency Option | Rs.25 per Lot | Rs.15 per Trade |
Anand Rathi provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Alice Blue provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Anand Rathi and Alice Blue both list an Android trading app.
iOS app: Anand Rathi and Alice Blue both list an iOS trading app.
Web trading platform: Anand Rathi and Alice Blue both list a web trading platform.
Desktop trading terminal: Anand Rathi and Alice Blue both list a desktop trading terminal.
Algo trading: Anand Rathi and Alice Blue both list algo trading support.
Basket trading: Neither broker currently highlights basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Anand Rathi and Alice Blue both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Anand Rathi vs Alice Blue — Complete Comparison of Trading Platforms
| Trading Platform | Anand Rathi | Alice Blue |
|---|---|---|
| Android App | Anand Rathi Android App Link | Alice Blue Android App Link |
| iOS App | Anand Rathi iOS App Link | Alice Blue iOS App Link |
| Web Trading Platform | Anand Rathi Web Trading Link | Alice Blue Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | NA |
Anand Rathi highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, while Alice Blue promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, live market tracking and secure platform controls. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Anand Rathi and Alice Blue offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Anand Rathi and Alice Blue offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Anand Rathi and Alice Blue offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Anand Rathi and Alice Blue offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Anand Rathi offers this; Alice Blue does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Anand Rathi offers this; Alice Blue does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Anand Rathi offers this; Alice Blue does not currently highlight it.
Live market: Live updates on market movements and trends. Both Anand Rathi and Alice Blue offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Anand Rathi offers this; Alice Blue does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Anand Rathi and Alice Blue offer this feature.
Anand Rathi vs Alice Blue — Comprehensive Comparison of Trading Features
| Trading Feature | Anand Rathi | Alice Blue |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | No |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | No |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Anand Rathi and Alice Blue.
Free account opening: Anand Rathi and Alice Blue both list free account opening.
Free AMC: Anand Rathi lists free Demat AMC, while Alice Blue does not currently mention it.
Free brokerage: Alice Blue lists free brokerage, while Anand Rathi does not currently mention it.
Flat brokerage: Anand Rathi and Alice Blue both list flat brokerage pricing.
Flexible brokerage plans: Anand Rathi lists flexible brokerage plans, while Alice Blue does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Alice Blue lists free delivery trading, while Anand Rathi does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Anand Rathi lists free research reports, while Alice Blue does not currently mention it.
Free trading calls: Anand Rathi lists free trading calls, while Alice Blue does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Anand Rathi offers Rs.250 per Client while Alice Blue offers 20% + Rs.500 per new Client for referrals.
Anand Rathi vs Alice Blue — Comparison of Latest Offers
| Offer | Anand Rathi | Alice Blue |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes, Limited | No |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Rs.250 per Client | 20% + Rs.500 per new Client |
| Margin Funding / Pledging | Yes | 20% + Rs.500 per new Client |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Anand Rathi highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Alice Blue highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, foreign stocks, mutual funds, insurance, corporate bonds and government bonds.
Anand Rathi vs Alice Blue — Complete Comparison of Products
| Product | Anand Rathi | Alice Blue |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | Yes | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | Yes | No |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | No | No |
Demat services: Anand Rathi and Alice Blue both list Demat services.
Trading services: Anand Rathi and Alice Blue both list trading services.
Intraday services: Anand Rathi and Alice Blue both list intraday trading services.
F&O services: Anand Rathi and Alice Blue both list F&O services.
IPO services: Anand Rathi and Alice Blue both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Anand Rathi lists stock research, while Alice Blue does not currently mention it.
Stock recommendations: Anand Rathi lists stock recommendations, while Alice Blue does not currently mention it.
Trading education: Alice Blue lists trading education, while Anand Rathi does not currently mention it.
Share pledging: Anand Rathi and Alice Blue both list share pledging.
PMS or PCG: Anand Rathi lists PMS or PCG support, while Alice Blue does not currently mention it.
NRI services: Anand Rathi lists NRI services, while Alice Blue does not currently mention it.
Anand Rathi provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Alice Blue offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Anand Rathi vs Alice Blue — In-Depth Comparison of Services
| Service | Anand Rathi | Alice Blue |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | Yes | No |
| Stock Recommendations | Yes | No |
| Trading Education | No | Yes, ANT IQ |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Anand Rathi and Alice Blue.
Anand Rathi and Alice Blue — Detailed Comparison of Advisory Services
| Advisory | Anand Rathi | Alice Blue |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | Yes, chargeable |
| Company Reports | Yes | No |
| Annual Reports | No | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | Yes, chargeable |
| Stock Tips | Yes | Yes, chargeable |
| Daily Top Stock Picks | Yes | Yes, chargeable |
| Daily Market Review | No | No |
| Monthly Review | No | No |
| Weekly Review | No | No |
| Relationship Manager | Yes | Yes, chargeable |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Anand Rathi and Alice Blue across different segments.
Anand Rathi and Alice Blue — Comprehensive Comparison of Trading Exposure
| Exposure | Anand Rathi | Alice Blue |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Anand Rathi and Alice Blue both list a sub-broker program. Anand Rathi and Alice Blue both list a partner program. Anand Rathi and Alice Blue both list a referral program.
Anand Rathi vs Alice Blue — Comparative Analysis of Programs
| Program | Anand Rathi | Alice Blue |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Anand Rathi provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Alice Blue provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Anand Rathi operates Available branches.
Anand Rathi and Alice Blue — Comprehensive Comparison of Customer Support
| Support Channel | Anand Rathi | Alice Blue |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 0291-6661001 | 080-35215000, 080-45490850 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | Telegram Support Link |
| Branches / Offices | Available | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Anand Rathi carries an overall rating of 7.90 / 10, while Alice Blue carries an overall rating of 8.05 / 10.
Anand Rathi vs Alice Blue — Ratings Comparison
| Rating Parameter | Anand Rathi | Alice Blue |
|---|---|---|
| Overall Rating | 7.90 / 10 | 8.05 / 10 |
| Customer Support | 7.87 / 10 | 8.02 / 10 |
| Technology | 7.99 / 10 | 8.14 / 10 |
| Charges | 7.93 / 10 | 8.08 / 10 |
| Products & Services | 7.85 / 10 | 8.00 / 10 |
| Experience | 7.84 / 10 | 8.00 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Anand Rathi & Alice Blue — Comparison of Customer Complaints
| Complaint Metric | Anand Rathi | Alice Blue |
|---|---|---|
| Total Complaints Lodged | 35 | 77 |
| Total Complaints Resolved | 30 | 65 |
| % of Resolved Complaints | 85.71% | 84.42% |
| Non-Actionable Complaints | 3 | 2 |
| % of Non-Actionable Complaints | 8.57% | 2.60% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Anand Rathi and Alice Blue.
Anand Rathi vs Alice Blue — Detailed Comparison of Transaction Charges
| Transaction Charges | Anand Rathi | Alice Blue |
|---|---|---|
| Equity Delivery | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Intraday | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Future | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | 0.0019% (NSE & BSE) |
| Equity Option | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) | 0.05% (on premium) |
| Commodity Future | 0.0026% (Non-Agri) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | 0.0009% (NSE) |
| Currency Option | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) | 0.035% (NSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Anand Rathi & Alice Blue — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Anand Rathi | Alice Blue |
|---|---|---|
| Pledge Creation Charges | - | Rs.15 per Request |
| Pledge Invocation Charges | - | Rs.15 per Request |
| Margin Trading Interest | - | 0.96% per Day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Anand Rathi and Alice Blue — Detailed Comparison of Hidden / Other Charges
| Charge | Anand Rathi | Alice Blue |
|---|---|---|
| SEBI Turnover Charges | 0.0001% (₹10/Crore) of the turnover | Rs.10/ Crore (All Segment) |
| DP Charges | - | Rs.15 per Scrip on Sell |
| GST | 18% on (Brokerage + Transaction Charge + SEBI Fee) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | - | Nil |
| Reactivation Charges | - | Nil |
| Dematerialisation Charges | - | Rs.25 per Certificate |
| Call & Trade Charges | - | Rs.50 per Trade |
Anand Rathi lists account opening charges of Free and Demat AMC of Rs.450 per Year (1st Year Free). Alice Blue lists account opening charges of Free and Demat AMC of Rs.400 per Year.
Anand Rathi vs Alice Blue — Detailed Comparison of Demat Charges
| Demat Charges | Anand Rathi | Alice Blue |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.450 per Year (1st Year Free) | Rs.400 per Year |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Anand Rathi vs Alice Blue — Comparative Analysis of STT and CTT Charges
| STT & CTT | Anand Rathi | Alice Blue |
|---|---|---|
| Equity Delivery | 0.1% on both Buy & Sell sides | 0.1% on buy & sell |
| Equity Intraday | 0.025% on the Sell side only | 0.025% on sell |
| Equity Future | 0.0125% on the Sell side | 0.0125% on sell |
| Equity Option | 0.0625% on premium value | 0.0625% on sell (on premium) |
| Commodity Future | 0.01% on sell side (Non-Agri) | 0.01% on sell (Non-Agri) |
| Commodity Option | 0.05% on sell side | 0.05% on sell |
| Currency Future | NA | Nil |
| Currency Option | NA | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Anand Rathi and Alice Blue — Comparison of Stamp Duty Charges
| Stamp Duty | Anand Rathi | Alice Blue |
|---|---|---|
| Equity Delivery | 0.015% | 0.015% on buy |
| Equity Intraday | 0.003% | 0.003% on buy |
| Equity Future | 0.002% | 0.002% on buy |
| Equity Option | 0.003% | 0.003% on buy |
| Commodity Future | 0.002% | 0.002% on buy |
| Commodity Option | 0.003% | 0.003% on buy |
| Currency Future | 0.0001% | 0.0001% on buy |
| Currency Option | 0.0001% | 0.0001% on buy |