Angel One and Punch Trade are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Angel One is listed as a Public Full Service , established in 1987 and headquartered in Mumbai, while Punch Trade is listed as a Private Discount Broker , established in 2021 and headquartered in Mumbai, India.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Angel One or Punch Trade is a better fit for your investment style, platform preference, and budget.
Angel One is listed as a Public Full Service established in 1987 with headquarters in Mumbai and founded by Dinesh Agarwal. 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 global indices tracking. It follows a i-trade Prime brokerage structure.
Punch Trade is listed as a Private Discount Broker established in 2021 with headquarters in Mumbai, India and founded by Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar. It offers equity delivery, equity intraday, equity futures and equity options using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, research reports, interactive charts and live market tracking.
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.
Angel One vs Punch Trade — A Comprehensive Company Overview
| Company Overview | Angel One | Punch Trade |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Full Service | Discount Broker |
| Headquarters | Mumbai | Mumbai, India |
| Founder | Dinesh Agarwal | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar |
| Establishment Year | 1987 | 2021 |
| Brokerage Plan | i-trade Prime | — |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Angel One and Punch Trade.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Angel One charges Free while Punch Trade charges ₹1/order or 0.10%.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Angel One charges Rs.20 per Trade or 0.25% (whichever is low) while Punch Trade charges ₹1/order or 0.10%.
Equity futures: This charge applies to futures contracts on stocks and indices. Angel One charges Rs.20 per Trade or 0.25% (whichever is low) while Punch Trade charges ₹1/order or 0.10%.
Equity options: This charge applies to equity option contracts. Angel One charges Rs.20 per Trade while Punch Trade charges ₹1/order or 0.10%.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Angel One charges Rs.20 per Trade or 0.25% (whichever is low) . Punch Trade does not currently list a charge for this segment.
Commodity options: This charge applies to option contracts on commodity instruments. Angel One charges Rs.20 per Trade . Punch Trade does not currently list a charge for this segment.
Currency futures: This charge allows participation in forex price movements on the exchange. Angel One charges Rs.20 per Trade or 0.25% (whichever is low) . Punch Trade does not currently list a charge for this segment.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Angel One charges Rs.20 per Trade . Punch Trade does not currently list a charge for this segment.
Angel One vs Punch Trade — Detailed Brokerage Comparison
| Brokerage | Angel One | Punch Trade |
|---|---|---|
| Brokerage Plan | i-trade Prime | |
| Subscription Charges | Zero | |
| Equity Delivery | Free | ₹1/order or 0.10% |
| Equity Intraday | Rs.20 per Trade or 0.25% (whichever is low) | ₹1/order or 0.10% |
| Equity Future | Rs.20 per Trade or 0.25% (whichever is low) | ₹1/order or 0.10% |
| Equity Option | Rs.20 per Trade | ₹1/order or 0.10% |
| Commodity Future | Rs.20 per Trade or 0.25% (whichever is low) | Not available |
| Commodity Option | Rs.20 per Trade | Not available |
| Currency Future | Rs.20 per Trade or 0.25% (whichever is low) | Not available |
| Currency Option | Rs.20 per Trade | Not available |
Angel One provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Punch Trade provides mobile app access and web trading for its users.
Android app: Angel One and Punch Trade both list an Android trading app.
iOS app: Angel One and Punch Trade both list an iOS trading app.
Web trading platform: Angel One and Punch Trade both list a web trading platform.
Desktop trading terminal: Angel One lists a desktop trading terminal, while Punch Trade does not currently mention it.
Algo trading: Angel One lists algo trading support, while Punch Trade does not currently mention it.
Basket trading: Angel One and Punch Trade both list basket trading.
Foreign stocks platform: Angel One lists foreign stocks access, while Punch Trade does not currently mention it.
Mutual fund platform: Angel One lists a mutual fund investment platform, while Punch Trade 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.
Angel One vs Punch Trade — Complete Comparison of Trading Platforms
| Trading Platform | Angel One | Punch Trade |
|---|---|---|
| Android App | Angel One Android App Link | Download |
| iOS App | Angel One iOS App Link | Not available (in development) |
| Web Trading Platform | Angel One Web Trading Link | Yes (punch.trade) |
| Trading Terminal | Available | Not available |
| Algo Trading Platform | Available | Not available |
| Foreign Stocks Platform | Available | Not available |
| Basket Trading Platform | Available | Yes — add to Trading Platforms |
| Mutual Fund Platform | Available | Not available |
| Digital Gold Platform | No | Not available |
| Bonds Platform | No | Not available |
Angel One highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Punch Trade promotes watchlists, real-time updates, portfolio tracking, research reports, interactive charts and live market tracking. 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 Angel One and Punch Trade offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Angel One and Punch Trade offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Angel One and Punch Trade offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Angel One offers this; Punch Trade does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Angel One and Punch Trade offer this feature.
Global indices: Real-time data on leading global stock market indices. Angel One offers this; Punch Trade does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Angel One offers this; Punch Trade does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Angel One offers this; Punch Trade does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Angel One and Punch Trade offer this feature.
Live market: Live updates on market movements and trends. Both Angel One and Punch Trade offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Angel One offers this; Punch Trade does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Angel One and Punch Trade offer this feature.
Angel One vs Punch Trade — Comprehensive Comparison of Trading Features
| Trading Feature | Angel One | Punch Trade |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | No |
| Research Reports | Yes | Yes |
| Global Indices | Yes | No |
| Customised Recommendations | Yes | No |
| Stock Tips | Yes | No |
| 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 Angel One and Punch Trade.
Free account opening: Punch Trade lists free account opening, while Angel One does not currently mention it.
Free AMC: Angel One and Punch Trade both list free Demat AMC.
Free brokerage: Angel One lists free brokerage, while Punch Trade does not currently mention it.
Flat brokerage: Angel One and Punch Trade both list flat brokerage pricing.
Flexible brokerage plans: Neither broker currently highlights flexible brokerage plans.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Angel One lists free delivery trading, while Punch Trade 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: Angel One lists free research reports, while Punch Trade does not currently mention it.
Free trading calls: Angel One lists free trading calls, while Punch Trade does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Angel One offers Upto Rs.1000 Gift Vouchers per Client for referrals; Punch Trade does not currently list a referral offer.
Angel One vs Punch Trade — Comparison of Latest Offers
| Offer | Angel One | Punch Trade |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | 1st Year Free | Yes |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | Yes (₹1/order) |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Upto Rs.1000 Gift Vouchers per Client | No |
| Margin Funding / Pledging | Yes | No |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Angel One highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Punch Trade highlights equity delivery, equity intraday, equity futures and equity options.
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 and insurance.
Angel One vs Punch Trade — Complete Comparison of Products
| Product | Angel One | Punch Trade |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | No |
| Commodity Future | Yes | No |
| Currency Option | Yes | No |
| Currency Future | Yes | No |
| Foreign Stocks | Yes | Not available |
| Mutual Funds | Yes | Not available |
| Banking | No | Not available |
| Insurance | Yes | Not available |
| Corporate Bonds | No | Not available |
| Government Bonds | No | Not available |
| Digital Gold | No | Not available |
Demat services: Angel One and Punch Trade both list Demat services.
Trading services: Angel One and Punch Trade both list trading services.
Intraday services: Angel One and Punch Trade both list intraday trading services.
F&O services: Angel One and Punch Trade both list F&O services.
IPO services: Angel One lists IPO services, while Punch Trade does not currently mention it.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Angel One and Punch Trade both list stock research.
Stock recommendations: Angel One lists stock recommendations, while Punch Trade does not currently mention it.
Trading education: Angel One lists trading education, while Punch Trade does not currently mention it.
Share pledging: Angel One lists share pledging, while Punch Trade does not currently mention it.
PMS or PCG: Angel One lists PMS or PCG support, while Punch Trade does not currently mention it.
NRI services: Angel One lists NRI services, while Punch Trade does not currently mention it.
Angel One provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Punch Trade offers Demat services, trading services, intraday trading, F&O trading and stock research.
Angel One vs Punch Trade — In-Depth Comparison of Services
| Service | Angel One | Punch Trade |
|---|---|---|
| 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 | No |
| Trading Education | Yes, Smart Money | No |
| Share Pledging | Yes | No |
| 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 Angel One and Punch Trade.
Angel One and Punch Trade — Detailed Comparison of Advisory Services
| Advisory | Angel One | Punch Trade |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | No |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | No |
| Robo Advisory | Yes | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Angel One and Punch Trade across different segments.
Angel One and Punch Trade — Comprehensive Comparison of Trading Exposure
| Exposure | Angel One | Punch Trade |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Up to 5x |
| Equity F&O Carry Forward | 1x | 1x (exchange margin only) |
| Equity F&O Intraday | 1.3x | 1x (exchange margin only) |
| Commodity F&O Carry Forward | 1x | Not applicable |
| Commodity F&O Intraday | 1.3x | Not applicable |
| Currency F&O | 1x | Not applicable |
Angel One lists a sub-broker program, while Punch Trade does not currently mention it. Angel One lists a partner program, while Punch Trade does not currently mention it. Angel One and Punch Trade both list a referral program.
Angel One vs Punch Trade — Comparative Analysis of Programs
| Program | Angel One | Punch Trade |
|---|---|---|
| Sub-Broker Program | Yes | |
| Partner Program | Yes, Angel DRA | |
| Referral Program | Yes | Yes (Punch Champions) |
Angel One provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Punch Trade provides support through trading desk support, call support, email support, website support and Facebook support. Angel One operates Available branches.
Angel One and Punch Trade — Comprehensive Comparison of Customer Support
| Support Channel | Angel One | Punch Trade |
|---|---|---|
| Trading Support | Available, Chargeable | +91 79482 22271 |
| Dedicated Dealer | Available, Chargeable | |
| Call Support | 8047480048 | +91 79410 57311 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | Website Link | Punch Trade |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | — |
| Telegram Support | Telegram Support Link | — |
| Branches / Offices | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Angel One carries an overall rating of 9.70 / 10, while Punch Trade carries an overall rating of 7.5/10.
Angel One vs Punch Trade — Ratings Comparison
| Rating Parameter | Angel One | Punch Trade |
|---|---|---|
| Overall Rating | 9.70 / 10 | 7.5/10 |
| Customer Support | 9.66 / 10 | 6.5/10 |
| Technology | 9.82 / 10 | 8.5/10 |
| Charges | 9.74 / 10 | 9.5/10 |
| Products & Services | 9.64 / 10 | 6.5/10 |
| Experience | 9.62 / 10 | 8.0/10 |
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.
Angel One & Punch Trade — Comparison of Customer Complaints
| Complaint Metric | Angel One | Punch Trade |
|---|---|---|
| Total Complaints Lodged | 554 | |
| Total Complaints Resolved | 457 | |
| % of Resolved Complaints | 82.49% | |
| Non-Actionable Complaints | 57 | |
| % of Non-Actionable Complaints | 10.29% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Angel One and Punch Trade.
Angel One vs Punch Trade — Detailed Comparison of Transaction Charges
| Transaction Charges | Angel One | Punch Trade |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & As per Stock (BSE) | NSE: 0.00297% | BSE: 0.00375% |
| Equity Intraday | 0.00325% (NSE) & As per Stock (BSE) | NSE: 0.00297% | BSE: 0.00375% |
| Equity Future | 0.0019% (NSE & BSE) | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) |
| Equity Option | 0.05% (on premium) | NSE: 0.00173% | BSE: 0 |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) |
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.
Angel One & Punch Trade — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Angel One | Punch Trade |
|---|---|---|
| Pledge Creation Charges | Rs.20 per Request | |
| Pledge Invocation Charges | Rs.50 per Request | |
| Margin Trading Interest | 0.049% 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.
Angel One and Punch Trade — Detailed Comparison of Hidden / Other Charges
| Charge | Angel One | Punch Trade |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | ₹10/crore |
| DP Charges | Rs.13.5 per Scrip only on Sell | ₹3.50 + 18% GST per order |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (brokerage + SEBI charges + transaction charges) |
| Account Closure Charges | Free | |
| Reactivation Charges | Free | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | Rs.20 per Trade | ₹50 (incl. GST) |
Angel One lists account opening charges of Free and Demat AMC of Rs.240 per Year + GST (1st Year Free). Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free).
Angel One vs Punch Trade — Detailed Comparison of Demat Charges
| Demat Charges | Angel One | Punch Trade |
|---|---|---|
| Account Opening Charges | Free | ₹0 (Free) |
| Annual Maintenance Charges (AMC) | Rs.240 per Year + GST (1st Year Free) | ₹0 (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.
Angel One vs Punch Trade — Comparative Analysis of STT and CTT Charges
| STT & CTT | Angel One | Punch Trade |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell | 0.025% on the sell side |
| Equity Future | 0.0125% on sell | 0.02% on sell side |
| Equity Option | 0.0625% on sell (on premium) | 0.1% on sell side (on premium) |
| Commodity Future | 0.01% on sell (Non-Agri) | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | 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.
Angel One and Punch Trade — Comparison of Stamp Duty Charges
| Stamp Duty | Angel One | Punch Trade |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% buy side only (government-mandated rate) |
| Equity Intraday | 0.003% on buy | 0.025% on the sell side |
| Equity Future | 0.002% on buy | 0.1% on sell side (on premium) |
| Equity Option | 0.003% on buy | 0.02% on sell side |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.003% on buy |
Account Opening: Free (₹0), completed online through digital e-KYC. Requires PAN, Aadhaar, bank details. CDSL demat (DP ID: 12095300). Activated within 24–48 hours.
Trading Platforms: Android app (4.4 stars) and web app at punch.trade. Native in-house charts with 100+ indicators including Smart Money Concepts. Trade-from-chart on mobile and web. Up to 8 chart layouts on desktop, 2 on mobile. iOS in development.
Brokerage Transparency: Flat ₹1/order (₹1.18 incl. GST) across all segments. No subscription tiers, no platform fees.
Research & Tools: Premium plotting of CE/PE on spot charts, Scalper Joystick, Protection Orders (default SL/TP), Trailing Stop Loss. No third-party research reports or stock recommendations.
Overall: Built for active equity and derivatives traders. Publishes 0.01s execution, 99.99% reliability, 99.999% uptime at punch.trade/status. Operates Builder's Lab with 500+ feature requests processed.