Anand Rathi and Choice Broking 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 Choice Broking is listed as a Private Discount Broker , established in 2010 and headquartered in Mumbai.
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 Choice Broking 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.
Choice Broking is listed as a Private Discount Broker established in 2010 with headquarters in Mumbai and founded by Kamal Poddar. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. 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 Choice Broking — A Comprehensive Company Overview
| Company Overview | Anand Rathi | Choice Broking |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Anand Rathi | Kamal Poddar |
| Establishment Year | 1994 | 2010 |
| 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 Choice Broking.
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 Choice Broking charges 0.2% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Anand Rathi charges 0.30% of Transaction Value while Choice Broking charges 0.2% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Anand Rathi charges 0.30% of Transaction Value while Choice Broking charges 0.2% of Transaction Value.
Equity options: This charge applies to equity option contracts. Anand Rathi charges Rs.50 per Lot while Choice Broking charges Rs.25 per lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Anand Rathi charges 0.03% of Transaction Value while Choice Broking charges 0.02% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Anand Rathi charges Rs.25 per Lot while Choice Broking charges Rs.50 per lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Anand Rathi charges 0.03% of Transaction Value while Choice Broking charges 0.02% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Anand Rathi charges Rs.25 per Lot while Choice Broking charges Rs.20 per lot.
Anand Rathi vs Choice Broking — Detailed Brokerage Comparison
| Brokerage | Anand Rathi | Choice Broking |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.30% of Transaction Value | 0.2% of Transaction Value |
| Equity Intraday | 0.30% of Transaction Value | 0.2% of Transaction Value |
| Equity Future | 0.30% of Transaction Value | 0.2% of Transaction Value |
| Equity Option | Rs.50 per Lot | Rs.25 per lot |
| Commodity Future | 0.03% of Transaction Value | 0.02% of Transaction Value |
| Commodity Option | Rs.25 per Lot | Rs.50 per lot |
| Currency Future | 0.03% of Transaction Value | 0.02% of Transaction Value |
| Currency Option | Rs.25 per Lot | Rs.20 per lot |
Anand Rathi provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Choice Broking provides mobile app access and web trading for its users.
Android app: Anand Rathi and Choice Broking both list an Android trading app.
iOS app: Anand Rathi and Choice Broking both list an iOS trading app.
Web trading platform: Anand Rathi and Choice Broking both list a web trading platform.
Desktop trading terminal: Anand Rathi lists a desktop trading terminal, while Choice Broking does not currently mention it.
Algo trading: Anand Rathi lists algo trading support, while Choice Broking does not currently mention it.
Basket trading: Neither broker currently highlights basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Anand Rathi lists a mutual fund investment platform, while Choice Broking does not currently mention it.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Anand Rathi vs Choice Broking — Complete Comparison of Trading Platforms
| Trading Platform | Anand Rathi | Choice Broking |
|---|---|---|
| Android App | Anand Rathi Android App Link | Choice Broking Android App Link |
| iOS App | Anand Rathi iOS App Link | Choice Broking iOS App Link |
| Web Trading Platform | Anand Rathi Web Trading Link | Choice Broking Web Trading Link |
| Trading Terminal | Available | NA |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | NA |
| Mutual Fund Platform | Available | NA |
| 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 Choice Broking promotes watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. 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 Choice Broking offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Anand Rathi and Choice Broking offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Anand Rathi and Choice Broking offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Anand Rathi offers this; Choice Broking does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Anand Rathi and Choice Broking offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Choice Broking offers this; Anand Rathi does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Anand Rathi and Choice Broking offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Anand Rathi and Choice Broking offer this feature.
Live market: Live updates on market movements and trends. Both Anand Rathi and Choice Broking offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Anand Rathi offers this; Choice Broking does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Anand Rathi and Choice Broking offer this feature.
Anand Rathi vs Choice Broking — Comprehensive Comparison of Trading Features
| Trading Feature | Anand Rathi | Choice Broking |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | No |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | No | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| 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 Choice Broking.
Free account opening: Anand Rathi and Choice Broking both list free account opening.
Free AMC: Anand Rathi lists free Demat AMC, while Choice Broking does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Anand Rathi lists flat brokerage pricing, while Choice Broking does not currently mention it.
Flexible brokerage plans: Anand Rathi lists flexible brokerage plans, while Choice Broking does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Neither broker currently highlights free delivery trading.
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 Choice Broking does not currently mention it.
Free trading calls: Anand Rathi lists free trading calls, while Choice Broking 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 Choice Broking offers Upto Rs. 100 per Client for referrals.
Anand Rathi vs Choice Broking — Comparison of Latest Offers
| Offer | Anand Rathi | Choice Broking |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes, Limited | No |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | No |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| 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 | Upto Rs. 100 per Client |
| Margin Funding / Pledging | Yes | Yes |
| 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 Choice Broking 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 Choice Broking — Complete Comparison of Products
| Product | Anand Rathi | Choice Broking |
|---|---|---|
| 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 | No |
| Banking | No | |
| Insurance | Yes | Yes |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | No | No |
Demat services: Anand Rathi and Choice Broking both list Demat services.
Trading services: Anand Rathi and Choice Broking both list trading services.
Intraday services: Anand Rathi and Choice Broking both list intraday trading services.
F&O services: Anand Rathi and Choice Broking both list F&O services.
IPO services: Anand Rathi lists IPO services, while Choice Broking does not currently mention it.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Anand Rathi and Choice Broking both list stock research.
Stock recommendations: Anand Rathi and Choice Broking both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: Anand Rathi and Choice Broking both list share pledging.
PMS or PCG: Anand Rathi lists PMS or PCG support, while Choice Broking does not currently mention it.
NRI services: Anand Rathi lists NRI services, while Choice Broking does not currently mention it.
Anand Rathi provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Choice Broking offers Demat services, trading services, intraday trading, F&O trading, stock research and stock recommendations.
Anand Rathi vs Choice Broking — In-Depth Comparison of Services
| Service | Anand Rathi | Choice Broking |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | No |
| 3-in-1 Account | No | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | No |
| 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 Choice Broking.
Anand Rathi and Choice Broking — Detailed Comparison of Advisory Services
| Advisory | Anand Rathi | Choice Broking |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | No | Yes |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | No | No |
| Monthly Review | No | Yes |
| Weekly Review | No | No |
| Relationship Manager | Yes | Yes |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Anand Rathi and Choice Broking across different segments.
Anand Rathi and Choice Broking — Comprehensive Comparison of Trading Exposure
| Exposure | Anand Rathi | Choice Broking |
|---|---|---|
| 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 Choice Broking both list a sub-broker program. Anand Rathi and Choice Broking both list a partner program. Anand Rathi and Choice Broking both list a referral program.
Anand Rathi vs Choice Broking — Comparative Analysis of Programs
| Program | Anand Rathi | Choice Broking |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| 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. Choice Broking provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Anand Rathi operates Available branches. Choice Broking operates Available branches.
Anand Rathi and Choice Broking — Comprehensive Comparison of Customer Support
| Support Channel | Anand Rathi | Choice Broking |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 0291-6661001 | 022-67079999 |
| 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 | Available |
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 Choice Broking carries an overall rating of 8.63 / 10.
Anand Rathi vs Choice Broking — Ratings Comparison
| Rating Parameter | Anand Rathi | Choice Broking |
|---|---|---|
| Overall Rating | 7.90 / 10 | 8.63 / 10 |
| Customer Support | 7.87 / 10 | 8.59 / 10 |
| Technology | 7.99 / 10 | 8.73 / 10 |
| Charges | 7.93 / 10 | 8.66 / 10 |
| Products & Services | 7.85 / 10 | 8.58 / 10 |
| Experience | 7.84 / 10 | 8.56 / 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 & Choice Broking — Comparison of Customer Complaints
| Complaint Metric | Anand Rathi | Choice Broking |
|---|---|---|
| Total Complaints Lodged | 35 | 78 |
| Total Complaints Resolved | 30 | 69 |
| % of Resolved Complaints | 85.71% | 88.46% |
| Non-Actionable Complaints | 3 | 6 |
| % of Non-Actionable Complaints | 8.57% | 7.69% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Anand Rathi and Choice Broking.
Anand Rathi vs Choice Broking — Detailed Comparison of Transaction Charges
| Transaction Charges | Anand Rathi | Choice Broking |
|---|---|---|
| Equity Delivery | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) | |
| Equity Intraday | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | |
| Equity Future | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | |
| Equity Option | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) | |
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | |
| Currency Option | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) |
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 & Choice Broking — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Anand Rathi | Choice Broking |
|---|---|---|
| Pledge Creation Charges | - | |
| Pledge Invocation Charges | - | |
| Margin Trading Interest | - |
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 Choice Broking — Detailed Comparison of Hidden / Other Charges
| Charge | Anand Rathi | Choice Broking |
|---|---|---|
| SEBI Turnover Charges | 0.0001% (₹10/Crore) of the turnover | |
| DP Charges | - | |
| GST | 18% on (Brokerage + Transaction Charge + SEBI Fee) | |
| Account Closure Charges | - | |
| Reactivation Charges | - | |
| Dematerialisation Charges | - | |
| Call & Trade Charges | - |
Anand Rathi lists account opening charges of Free and Demat AMC of Rs.450 per Year (1st Year Free). Choice Broking lists account opening charges of Free and Demat AMC of Rs.200 – Rs.3000 (First year free).
Anand Rathi vs Choice Broking — Detailed Comparison of Demat Charges
| Demat Charges | Anand Rathi | Choice Broking |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.450 per Year (1st Year Free) | Rs.200 – Rs.3000 (First year free) |
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 Choice Broking — Comparative Analysis of STT and CTT Charges
| STT & CTT | Anand Rathi | Choice Broking |
|---|---|---|
| Equity Delivery | 0.1% on both Buy & Sell sides | |
| Equity Intraday | 0.025% on the Sell side only | |
| Equity Future | 0.0125% on the Sell side | |
| Equity Option | 0.0625% on premium value | |
| Commodity Future | 0.01% on sell side (Non-Agri) | |
| Commodity Option | 0.05% on sell side | |
| Currency Future | NA | |
| Currency Option | NA |
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 Choice Broking — Comparison of Stamp Duty Charges
| Stamp Duty | Anand Rathi | Choice Broking |
|---|---|---|
| Equity Delivery | 0.015% | |
| Equity Intraday | 0.003% | |
| Equity Future | 0.002% | |
| Equity Option | 0.003% | |
| Commodity Future | 0.002% | |
| Commodity Option | 0.003% | |
| Currency Future | 0.0001% | |
| Currency Option | 0.0001% |