Bajaj Broking and Punch Trade are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Bajaj Broking is listed as a Public Discount Broker , established in 2010 and headquartered in Pune, Maharashtra, 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 Bajaj Broking or Punch Trade is a better fit for your investment style, platform preference, and budget.
Bajaj Broking is listed as a Public Discount Broker established in 2010 with headquarters in Pune, Maharashtra and founded by Jamnalal Bajaj. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds 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 Freedom Pack, Professional Pack, Signature Pack 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, equity options, commodity futures, commodity options and mutual funds 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.
Bajaj Broking vs Punch Trade — A Comprehensive Company Overview
| Company Overview | Bajaj Broking | Punch Trade |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Pune, Maharashtra | Mumbai, India |
| Founder | Jamnalal Bajaj | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar |
| Establishment Year | 2010 | 2021 |
| Brokerage Plan | Freedom Pack, Professional Pack, Signature Pack | — |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Bajaj Broking and Punch Trade.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) while Punch Trade charges ₹1/order or 0.10%.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) while Punch Trade charges ₹1/order or 0.10%.
Equity futures: This charge applies to futures contracts on stocks and indices. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) while Punch Trade charges ₹1/order or 0.10%.
Equity options: This charge applies to equity option contracts. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) while Punch Trade charges ₹1/order or 0.10%.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) . Punch Trade does not currently list a charge for this segment.
Commodity options: This charge applies to option contracts on commodity instruments. Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20) . Punch Trade does not currently list a charge for this segment.
Bajaj Broking vs Punch Trade — Detailed Brokerage Comparison
| Brokerage | Bajaj Broking | Punch Trade |
|---|---|---|
| Brokerage Plan | Freedom Pack, Professional Pack, Signature Pack | |
| Subscription Charges | Freedom: free for 1st year, then ₹431 per year | Professional: ₹2,500 per year | |
| Equity Delivery | Starting ₹10 per order (Freedom Pack ₹20) | ₹1/order or 0.10% |
| Equity Intraday | Starting ₹10 per order (Freedom Pack ₹20) | ₹1/order or 0.10% |
| Equity Future | Starting ₹10 per order (Freedom Pack ₹20) | ₹1/order or 0.10% |
| Equity Option | Starting ₹10 per order (Freedom Pack ₹20) | ₹1/order or 0.10% |
| Commodity Future | Starting ₹10 per order (Freedom Pack ₹20) | Not available |
| Commodity Option | Starting ₹10 per order (Freedom Pack ₹20) | Not available |
| Currency Future | N/A | Not available |
| Currency Option | N/A | Not available |
Bajaj Broking 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: Bajaj Broking and Punch Trade both list an Android trading app.
iOS app: Bajaj Broking and Punch Trade both list an iOS trading app.
Web trading platform: Bajaj Broking and Punch Trade both list a web trading platform.
Desktop trading terminal: Bajaj Broking lists a desktop trading terminal, while Punch Trade does not currently mention it.
Algo trading: Bajaj Broking lists algo trading support, while Punch Trade does not currently mention it.
Basket trading: Punch Trade lists basket trading, while Bajaj Broking does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Bajaj Broking 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: Bajaj Broking lists a bonds investment platform, while Punch Trade does not currently mention it.
Bajaj Broking vs Punch Trade — Complete Comparison of Trading Platforms
| Trading Platform | Bajaj Broking | Punch Trade |
|---|---|---|
| Android App | Yes | Download |
| iOS App | Yes | The iOS app is in development |
| Web Trading Platform | Yes | Yes (punch.trade) |
| Trading Terminal | Yes | Not available |
| Algo Trading Platform | Yes | Not available |
| Foreign Stocks Platform | N/A | Not available |
| Basket Trading Platform | N/A | Yes — add to Trading Platforms |
| Mutual Fund Platform | Yes | Not available |
| Digital Gold Platform | N/A | Not available |
| Bonds Platform | Yes | Not available |
Bajaj Broking highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, 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 Bajaj Broking and Punch Trade offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Bajaj Broking and Punch Trade offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Bajaj Broking and Punch Trade offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Bajaj Broking offers this; Punch Trade does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Bajaj Broking and Punch Trade offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Bajaj Broking offers this; Punch Trade does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Bajaj Broking and Punch Trade offer this feature.
Live market: Live updates on market movements and trends. Both Bajaj Broking and Punch Trade offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Punch Trade offers this; Bajaj Broking does not currently highlight it.
Bajaj Broking vs Punch Trade — Comprehensive Comparison of Trading Features
| Trading Feature | Bajaj Broking | 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 | N/A | No |
| Customised Recommendations | N/A | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | N/A | No |
| Robust & Secure Platform | N/A | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Bajaj Broking and Punch Trade.
Free account opening: Bajaj Broking and Punch Trade both list free account opening.
Free AMC: Bajaj Broking and Punch Trade both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Bajaj Broking and Punch Trade both list flat brokerage pricing.
Flexible brokerage plans: Bajaj Broking lists flexible brokerage plans, while Punch Trade 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: Neither broker currently highlights free research reports.
Free trading calls: Bajaj Broking 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.
Bajaj Broking vs Punch Trade — Comparison of Latest Offers
| Offer | Bajaj Broking | Punch Trade |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | Yes (₹1/order) |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | N/A | |
| Free Delivery Trading | N/A | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | N/A | No |
| Free Trading Calls | Yes | No |
| Referral Offers | N/A | No |
| Margin Funding / Pledging | Yes | No |
| Brokerage Cashback | N/A | No |
| Zero Brokerage for Loss-Making Trades | N/A | No |
Product availability determines whether a broker can support your preferred markets. Bajaj Broking highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds, while Punch Trade highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, mutual funds, corporate bonds and bonds.
Bajaj Broking vs Punch Trade — Complete Comparison of Products
| Product | Bajaj Broking | Punch Trade |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | No commodity options yet — Research and Reports coming soon. |
| Commodity Future | Yes | Commodity future coming soon; Stock Research and Reports on the way. |
| Currency Option | N/A | No |
| Currency Future | N/A | No |
| Foreign Stocks | N/A | Not available |
| Mutual Funds | Yes | Mutual funds aren't supported yet; Stock Research and Reports are launching soon. |
| Banking | No | Not available |
| Insurance | No | Not available |
| Corporate Bonds | Yes | Not available |
| Government Bonds | N/A | Not available |
| Digital Gold | N/A | Not available |
Demat services: Bajaj Broking and Punch Trade both list Demat services.
Trading services: Bajaj Broking and Punch Trade both list trading services.
Intraday services: Bajaj Broking and Punch Trade both list intraday trading services.
F&O services: Bajaj Broking and Punch Trade both list F&O services.
IPO services: Bajaj Broking and Punch Trade both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Bajaj Broking and Punch Trade both list stock research.
Stock recommendations: Neither broker currently highlights stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: Bajaj Broking lists share pledging, while Punch Trade does not currently mention it.
PMS or PCG: Bajaj Broking lists PMS or PCG support, while Punch Trade does not currently mention it.
NRI services: Bajaj Broking lists NRI services, while Punch Trade does not currently mention it.
Bajaj Broking 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, IPO access and stock research.
Bajaj Broking vs Punch Trade — In-Depth Comparison of Services
| Service | Bajaj Broking | Punch Trade |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | No IPOs for now — Stock Research and Reports are coming soon. |
| 3-in-1 Account | No | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | N/A | No |
| Trading Education | N/A | 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 Bajaj Broking and Punch Trade.
Bajaj Broking and Punch Trade — Detailed Comparison of Advisory Services
| Advisory | Bajaj Broking | Punch Trade |
|---|---|---|
| Fundamental Reports | N/A | Yes |
| Research Reports | Yes | Yes |
| Company Reports | N/A | No |
| Annual Reports | N/A | No |
| IPO Reports | N/A | No |
| Technical Reports | N/A | No |
| Stock Tips | Yes | No |
| Daily Top Stock Picks | N/A | No |
| Daily Market Review | Yes | No |
| Monthly Review | N/A | No |
| Weekly Review | N/A | No |
| Relationship Manager | N/A | No |
| Robo Advisory | N/A | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Bajaj Broking and Punch Trade across different segments.
Bajaj Broking and Punch Trade — Comprehensive Comparison of Trading Exposure
| Exposure | Bajaj Broking | Punch Trade |
|---|---|---|
| Equity Delivery | 1x (MTF up to 3.5x in selected stocks) | 1x |
| Equity Intraday | Up to 5x | Up to 5x |
| Equity F&O Carry Forward | 1x (no additional margin) | 1x (exchange margin only) |
| Equity F&O Intraday | 1.3x | 1x (exchange margin only) |
| Commodity F&O Carry Forward | 1x (no additional margin) | Not applicable |
| Commodity F&O Intraday | 1.3x | Not applicable |
| Currency F&O | N/A | Not applicable |
Neither broker currently highlights a sub-broker program. Neither broker currently highlights a partner program. Punch Trade lists a referral program, while Bajaj Broking does not currently mention it.
Bajaj Broking vs Punch Trade — Comparative Analysis of Programs
| Program | Bajaj Broking | Punch Trade |
|---|---|---|
| Sub-Broker Program | N/A | |
| Partner Program | N/A | |
| Referral Program | N/A | Yes (Punch Champions) |
Bajaj Broking provides support through trading desk support, call support, email support and website support. Punch Trade provides support through trading desk support, call support, email support, website support and Facebook support. Bajaj Broking operates Head office: 4th Floor, Bajaj Finserv House, Off Pune–Ahmednagar Road, Viman Nagar, Pune – 411014, Maharashtra branches.
Bajaj Broking and Punch Trade — Comprehensive Comparison of Customer Support
| Support Channel | Bajaj Broking | Punch Trade |
|---|---|---|
| Trading Support | Yes | +91 79482 22271 |
| Dedicated Dealer | N/A | |
| Call Support | Yes (1800-833-8888) | +91 79410 57311 |
| Email Support | Yes ([email protected]) | [email protected] |
| WhatsApp Support | N/A | |
| Website Support | Yes (https://www.bajajbroking.in/knowledge-center) | Punch Trade |
| Facebook Support | — | Facebook Support Link |
| Twitter / X Support | — | — |
| Telegram Support | — | — |
| Branches / Offices | Head office: 4th Floor, Bajaj Finserv House, Off Pune–Ahmednagar Road, Viman Nagar, Pune – 411014, Maharashtra |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Bajaj Broking carries an overall rating of 3.6 / 5, while Punch Trade carries an overall rating of 7.5/10.
Bajaj Broking vs Punch Trade — Ratings Comparison
| Rating Parameter | Bajaj Broking | Punch Trade |
|---|---|---|
| Overall Rating | 3.6 / 5 | 7.5/10 |
| Customer Support | 3.5 / 5 | 6.5/10 |
| Technology | 3.5 / 5 | 8.5/10 |
| Charges | 3.5 / 5 | 9.5/10 |
| Products & Services | 4.0 / 5 | 6.5/10 |
| Experience | N/A | 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.
Bajaj Broking & Punch Trade — Comparison of Customer Complaints
| Complaint Metric | Bajaj Broking | Punch Trade |
|---|---|---|
| Total Complaints Lodged | 34 (NSE, FY 2026-27, against 65,587 active clients) | |
| Total Complaints Resolved | N/A | |
| % of Resolved Complaints | N/A | |
| Non-Actionable Complaints | N/A | |
| % of Non-Actionable Complaints | N/A |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Bajaj Broking and Punch Trade.
Bajaj Broking vs Punch Trade — Detailed Comparison of Transaction Charges
| Transaction Charges | Bajaj Broking | Punch Trade |
|---|---|---|
| Equity Delivery | NSE 0.00345% | BSE varies by scrip group | NSE: 0.00297% | BSE: 0.00375% |
| Equity Intraday | NSE 0.00345% | BSE varies by scrip group | NSE: 0.00297% | BSE: 0.00375% |
| Equity Future | NSE 0.002% | BSE Nil or 0.05% of traded value | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) |
| Equity Option | NSE 0.053% on premium | BSE Nil or 0.05% of traded value | NSE: 0.00173% | BSE: 0 |
| Commodity Future | N/A | |
| Commodity Option | N/A | |
| Currency Future | N/A | |
| Currency Option | N/A |
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.
Bajaj Broking & Punch Trade — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Bajaj Broking | Punch Trade |
|---|---|---|
| Pledge Creation Charges | ₹40 + GST | |
| Pledge Invocation Charges | ₹50 + GST per ISIN | |
| Margin Trading Interest | 14.99% p.a. (Freedom) | 11.99% p.a. (Professional) |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Bajaj Broking and Punch Trade — Detailed Comparison of Hidden / Other Charges
| Charge | Bajaj Broking | Punch Trade |
|---|---|---|
| SEBI Turnover Charges | ₹10 per crore (0.0001%) | ₹10/crore |
| DP Charges | ₹30 per ISIN per debit transaction | ₹3.50 + 18% GST per order |
| GST | 18% on brokerage, transaction charges and SEBI fees | 18% on (brokerage + SEBI charges + transaction charges) |
| Account Closure Charges | N/A | |
| Reactivation Charges | N/A | |
| Dematerialisation Charges | ₹100 per request + ₹100 per certificate + GST | |
| Call & Trade Charges | ₹20 + GST per executed order | ₹50 (incl. GST) |
Bajaj Broking lists account opening charges of ₹0 and Demat AMC of ₹0. Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free).
Bajaj Broking vs Punch Trade — Detailed Comparison of Demat Charges
| Demat Charges | Bajaj Broking | Punch Trade |
|---|---|---|
| Account Opening Charges | ₹0 | ₹0 (Free) |
| Annual Maintenance Charges (AMC) | ₹0 | ₹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.
Bajaj Broking vs Punch Trade — Comparative Analysis of STT and CTT Charges
| STT & CTT | Bajaj Broking | Punch Trade |
|---|---|---|
| Equity Delivery | 0.1% on both buy and sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell side | 0.025% on the sell side |
| Equity Future | 0.05% on sell side | 0.05% on sell side |
| Equity Option | 0.15% of premium on sell side | 0.1% on sell side (on premium) |
| Commodity Future | 0.01% on sell side (non-agri) | |
| Commodity Option | 0.01% on sell side (non-agri) | |
| Currency Future | No STT | |
| Currency Option | No STT |
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.
Bajaj Broking and Punch Trade — Comparison of Stamp Duty Charges
| Stamp Duty | Bajaj Broking | Punch Trade |
|---|---|---|
| Equity Delivery | 0.015% (buy side) | 0.015% buy side only (government-mandated rate) |
| Equity Intraday | 0.003% (buy side) | 0.025% on the sell side |
| Equity Future | 0.002% (buy side) | 0.1% on sell side (on premium) |
| Equity Option | 0.003% (buy side) | 0.15% on sell side (on premium) |
| Commodity Future | 0.002% (buy side) | |
| Commodity Option | 0.003% (buy side) | |
| Currency Future | 0.0001% (buy side) | |
| Currency Option | 0.0001% (buy side) |