Bajaj Securities and Punch Trade are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Bajaj Securities is listed as a Public Discount Broker , established in 2010 and headquartered in Pune, 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 Securities or Punch Trade is a better fit for your investment style, platform preference, and budget.
Bajaj Securities is listed as a Public Discount Broker established in 2010 with headquarters in Pune and founded by Sanjiv Bajaj. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, foreign stocks, mutual funds and insurance through mobile app access and web trading and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, stock tips and interactive charts. It follows a Freedom Plan 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.
Bajaj Securities vs Punch Trade — A Comprehensive Company Overview
| Company Overview | Bajaj Securities | Punch Trade |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Pune | Mumbai, India |
| Founder | Sanjiv Bajaj | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar |
| Establishment Year | 2010 | 2021 |
| Brokerage Plan | Freedom Plan | — |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Bajaj Securities and Punch Trade.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Bajaj Securities charges Rs.20 per Trade 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 Securities charges Rs.20 per Trade while Punch Trade charges ₹1/order or 0.10%.
Equity futures: This charge applies to futures contracts on stocks and indices. Bajaj Securities charges Rs.20 per Trade while Punch Trade charges ₹1/order or 0.10%.
Equity options: This charge applies to equity option contracts. Bajaj Securities charges Rs.20 per Trade while Punch Trade charges ₹1/order or 0.10%.
Bajaj Securities vs Punch Trade — Detailed Brokerage Comparison
| Brokerage | Bajaj Securities | Punch Trade |
|---|---|---|
| Brokerage Plan | Freedom Plan | |
| Subscription Charges | Rs.431 per Year (1st Year Free) | |
| Equity Delivery | Rs.20 per Trade | ₹1/order or 0.10% |
| Equity Intraday | Rs.20 per Trade | ₹1/order or 0.10% |
| Equity Future | Rs.20 per Trade | ₹1/order or 0.10% |
| Equity Option | Rs.20 per Trade | ₹1/order or 0.10% |
| Commodity Future | NA | Not available |
| Commodity Option | NA | Not available |
| Currency Future | NA | Not available |
| Currency Option | NA | Not available |
Bajaj Securities provides mobile app access and web trading for order placement, portfolio tracking, and market monitoring. Punch Trade provides mobile app access and web trading for its users.
Android app: Bajaj Securities and Punch Trade both list an Android trading app.
iOS app: Bajaj Securities and Punch Trade both list an iOS trading app.
Web trading platform: Bajaj Securities and Punch Trade both list a web trading platform.
Desktop trading terminal: Neither broker currently highlights a desktop trading terminal.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: Punch Trade lists basket trading, while Bajaj Securities does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Bajaj Securities 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.
Bajaj Securities vs Punch Trade — Complete Comparison of Trading Platforms
| Trading Platform | Bajaj Securities | Punch Trade |
|---|---|---|
| Android App | Bajaj Securities Android App Link | Download |
| iOS App | Bajaj Securities iOS App Link | Not available (in development) |
| Web Trading Platform | Bajaj Securities Web Trading Link | Yes (punch.trade) |
| Trading Terminal | NA | Not available |
| Algo Trading Platform | NA | Not available |
| Foreign Stocks Platform | NA | Not available |
| Basket Trading Platform | NA | Yes — add to Trading Platforms |
| Mutual Fund Platform | Available | Not available |
| Digital Gold Platform | NA | Not available |
| Bonds Platform | NA | Not available |
Bajaj Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, stock tips and interactive charts, 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 Securities and Punch Trade offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Bajaj Securities and Punch Trade offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Bajaj Securities and Punch Trade offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Bajaj Securities offers this; Punch Trade does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Punch Trade offers this; Bajaj Securities does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Bajaj Securities 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 Securities and Punch Trade offer this feature.
Live market: Live updates on market movements and trends. Both Bajaj Securities and Punch Trade offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Bajaj Securities and Punch Trade offer this feature.
Bajaj Securities vs Punch Trade — Comprehensive Comparison of Trading Features
| Trading Feature | Bajaj Securities | Punch Trade |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | No |
| Research Reports | No | Yes |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | 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 Bajaj Securities and Punch Trade.
Free account opening: Bajaj Securities and Punch Trade both list free account opening.
Free AMC: Bajaj Securities and Punch Trade both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Bajaj Securities and Punch Trade both list flat brokerage pricing.
Flexible brokerage plans: Bajaj Securities 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: Neither broker currently highlights free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Bajaj Securities offers Rs.200 per Client for referrals; Punch Trade does not currently list a referral offer.
Bajaj Securities vs Punch Trade — Comparison of Latest Offers
| Offer | Bajaj Securities | 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 | No | |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | No |
| Free Trading Calls | No | No |
| Referral Offers | Rs.200 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. Bajaj Securities highlights equity delivery, equity intraday, equity futures, equity options, foreign stocks, mutual funds and insurance, 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, foreign stocks, mutual funds, insurance, corporate bonds and government bonds.
Bajaj Securities vs Punch Trade — Complete Comparison of Products
| Product | Bajaj Securities | Punch Trade |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No | No |
| Commodity Future | No | No |
| Currency Option | No | No |
| Currency Future | No | No |
| Foreign Stocks | Yes | Not available |
| Mutual Funds | Yes | Not available |
| Banking | No | Not available |
| Insurance | Yes | Not available |
| Corporate Bonds | Yes | Not available |
| Government Bonds | Yes | Not available |
| Digital Gold | No | Not available |
Demat services: Bajaj Securities and Punch Trade both list Demat services.
Trading services: Bajaj Securities and Punch Trade both list trading services.
Intraday services: Bajaj Securities and Punch Trade both list intraday trading services.
F&O services: Bajaj Securities and Punch Trade both list F&O services.
IPO services: Bajaj Securities 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: Punch Trade lists stock research, while Bajaj Securities does not currently mention it.
Stock recommendations: Neither broker currently highlights stock recommendations.
Trading education: Bajaj Securities lists trading education, while Punch Trade does not currently mention it.
Share pledging: Bajaj Securities lists share pledging, while Punch Trade does not currently mention it.
PMS or PCG: Neither broker currently highlights PMS or PCG support.
NRI services: Neither broker currently highlights NRI services.
Bajaj Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while Punch Trade offers Demat services, trading services, intraday trading, F&O trading and stock research.
Bajaj Securities vs Punch Trade — In-Depth Comparison of Services
| Service | Bajaj Securities | 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 | No | Yes |
| Stock Recommendations | No | No |
| Trading Education | Yes, Samadhan | No |
| Share Pledging | Yes | No |
| PMS or PCG | No | No |
| NRI Services | No | 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 Securities and Punch Trade.
Bajaj Securities and Punch Trade — Detailed Comparison of Advisory Services
| Advisory | Bajaj Securities | Punch Trade |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | Yes, chargeable | Yes |
| Company Reports | No | No |
| Annual Reports | No | No |
| IPO Reports | Yes | No |
| Technical Reports | No | No |
| Stock Tips | Yes, chargeable | No |
| Daily Top Stock Picks | No | No |
| Daily Market Review | No | No |
| Monthly Review | No | No |
| Weekly Review | No | No |
| Relationship Manager | Yes, chargeable | No |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Bajaj Securities and Punch Trade across different segments.
Bajaj Securities and Punch Trade — Comprehensive Comparison of Trading Exposure
| Exposure | Bajaj Securities | 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 |
Bajaj Securities lists a sub-broker program, while Punch Trade does not currently mention it. Bajaj Securities lists a partner program, while Punch Trade does not currently mention it. Bajaj Securities and Punch Trade both list a referral program.
Bajaj Securities vs Punch Trade — Comparative Analysis of Programs
| Program | Bajaj Securities | Punch Trade |
|---|---|---|
| Sub-Broker Program | Yes, Limited | |
| Partner Program | Yes | |
| Referral Program | Yes | Yes (Punch Champions) |
Bajaj Securities 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. Bajaj Securities operates Available branches.
Bajaj Securities and Punch Trade — Comprehensive Comparison of Customer Support
| Support Channel | Bajaj Securities | Punch Trade |
|---|---|---|
| Trading Support | Available, Chargeable | +91 79482 22271 |
| Dedicated Dealer | Available, Chargeable | |
| Call Support | 1800-833-8888 | +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. Bajaj Securities carries an overall rating of 7.75 / 10, while Punch Trade carries an overall rating of 7.5/10.
Bajaj Securities vs Punch Trade — Ratings Comparison
| Rating Parameter | Bajaj Securities | Punch Trade |
|---|---|---|
| Overall Rating | 7.75 / 10 | 7.5/10 |
| Customer Support | 7.72 / 10 | 6.5/10 |
| Technology | 7.84 / 10 | 8.5/10 |
| Charges | 7.78 / 10 | 9.5/10 |
| Products & Services | 7.71 / 10 | 6.5/10 |
| Experience | 7.69 / 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.
Bajaj Securities & Punch Trade — Comparison of Customer Complaints
| Complaint Metric | Bajaj Securities | Punch Trade |
|---|---|---|
| Total Complaints Lodged | 21 | |
| Total Complaints Resolved | 14 | |
| % of Resolved Complaints | 66.67% | |
| Non-Actionable Complaints | 4 | |
| % of Non-Actionable Complaints | 19.05% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Bajaj Securities and Punch Trade.
Bajaj Securities vs Punch Trade — Detailed Comparison of Transaction Charges
| Transaction Charges | Bajaj Securities | Punch Trade |
|---|---|---|
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% | |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% | |
| Equity Future | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | |
| Equity Option | NSE: 0.00173% | BSE: 0 | |
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |
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 Securities and Punch Trade — Detailed Comparison of Hidden / Other Charges
| Charge | Bajaj Securities | Punch Trade |
|---|---|---|
| SEBI Turnover Charges | ₹10/crore | |
| DP Charges | ₹3.50 + 18% GST per order | |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | |
| Account Closure Charges | ||
| Reactivation Charges | ||
| Dematerialisation Charges | ||
| Call & Trade Charges | ₹50 (incl. GST) |
Bajaj Securities lists account opening charges of Free and Demat AMC of Free. Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free).
Bajaj Securities vs Punch Trade — Detailed Comparison of Demat Charges
| Demat Charges | Bajaj Securities | Punch Trade |
|---|---|---|
| Account Opening Charges | Free | ₹0 (Free) |
| Annual Maintenance Charges (AMC) | 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.
Bajaj Securities vs Punch Trade — Comparative Analysis of STT and CTT Charges
| STT & CTT | Bajaj Securities | Punch Trade |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on the sell side | |
| Equity Future | 0.02% on sell side | |
| Equity Option | 0.1% on sell side (on premium) | |
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |
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 Securities and Punch Trade — Comparison of Stamp Duty Charges
| Stamp Duty | Bajaj Securities | Punch Trade |
|---|---|---|
| Equity Delivery | 0.015% buy side only (government-mandated rate) | |
| Equity Intraday | 0.025% on the sell side | |
| Equity Future | 0.1% on sell side (on premium) | |
| Equity Option | 0.02% on sell side | |
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |