Lemonn and Alice Blue are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Lemonn is listed as a Private Discount Broker , established in 2020 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 Lemonn or Alice Blue is a better fit for your investment style, platform preference, and budget.
Lemonn is listed as a Private Discount Broker established in 2020 with headquarters in Mumbai and founded by Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari. The broker highlights access to equity delivery, equity intraday, equity futures, equity options and mutual funds through mobile app access, web trading and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. It follows a Standard 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.
Lemonn vs Alice Blue — A Comprehensive Company Overview
| Company Overview | Lemonn | Alice Blue |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Bangalore |
| Founder | Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari | Sidhavelayutham M |
| Establishment Year | 2020 | 2006 |
| Brokerage Plan | Standard | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Lemonn and Alice Blue.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Lemonn charges Rs 20 per executed order 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. Lemonn charges Rs 20 per executed order 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. Lemonn charges Rs 20 per executed order while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Equity options: This charge applies to equity option contracts. Lemonn charges Rs 20 per executed order while Alice Blue charges Rs.15 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Lemonn charges N/A ; Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Lemonn charges N/A ; Alice Blue charges Rs.15 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Lemonn charges N/A ; 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. Lemonn charges N/A ; Alice Blue charges Rs.15 per Trade.
Lemonn vs Alice Blue — Detailed Brokerage Comparison
| Brokerage | Lemonn | Alice Blue |
|---|---|---|
| Brokerage Plan | Standard | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs 20 per executed order | Rs.15 per Trade or 0.05% (Whichever is Low) |
| Equity Intraday | Rs 20 per executed order | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Future | Rs 20 per executed order | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Option | Rs 20 per executed order | Rs.15 per Trade |
| Commodity Future | Not Available | Rs.15 per Trade or 0.05% (whichever is low) |
| Commodity Option | Not Available | Rs.15 per Trade |
| Currency Future | Not Available | Rs.15 per Trade or 0.05% (whichever is low) |
| Currency Option | Not Available | Rs.15 per Trade |
Lemonn provides mobile app access, web trading and desktop terminal access 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: Lemonn and Alice Blue both list an Android trading app.
iOS app: Lemonn and Alice Blue both list an iOS trading app.
Web trading platform: Lemonn and Alice Blue both list a web trading platform.
Desktop trading terminal: Lemonn and Alice Blue both list a desktop trading terminal.
Algo trading: Alice Blue lists algo trading support, while Lemonn 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: Lemonn 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.
Lemonn vs Alice Blue — Complete Comparison of Trading Platforms
| Trading Platform | Lemonn | Alice Blue |
|---|---|---|
| Android App | Download | Alice Blue Android App Link |
| iOS App | Download | Alice Blue iOS App Link |
| Web Trading Platform | Lemonn Trade | Alice Blue Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Not Available | Available |
| Foreign Stocks Platform | Not Available | NA |
| Basket Trading Platform | Not Available | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Not Available | NA |
| Bonds Platform | Not Available | NA |
Lemonn highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations, 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 Lemonn and Alice Blue offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Lemonn and Alice Blue offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Lemonn and Alice Blue offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Lemonn and Alice Blue offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Lemonn offers this; Alice Blue does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Lemonn offers this; Alice Blue does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Lemonn offers this; Alice Blue does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Lemonn offers this; Alice Blue does not currently highlight it.
Live market: Live updates on market movements and trends. Both Lemonn and Alice Blue offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Lemonn offers this; Alice Blue does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Lemonn and Alice Blue offer this feature.
Lemonn vs Alice Blue — Comprehensive Comparison of Trading Features
| Trading Feature | Lemonn | 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 | Yes | 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 Lemonn and Alice Blue.
Free account opening: Lemonn and Alice Blue both list free account opening.
Free AMC: Lemonn lists free Demat AMC, while Alice Blue does not currently mention it.
Free brokerage: Alice Blue lists free brokerage, while Lemonn does not currently mention it.
Flat brokerage: Lemonn and Alice Blue 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: Lemonn and Alice Blue both list 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: Alice Blue offers 20% + Rs.500 per new Client for referrals; Lemonn does not currently list a referral offer.
Lemonn vs Alice Blue — Comparison of Latest Offers
| Offer | Lemonn | Alice Blue |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Free for 1st Year, Rs 250+ Gst afterwards | No |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | No |
| Free Trading Calls | No | No |
| Referral Offers | No | 20% + Rs.500 per new Client |
| Margin Funding / Pledging | No | 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. Lemonn highlights equity delivery, equity intraday, equity futures, equity options and mutual funds, 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, mutual funds, commodity futures, commodity options, currency futures and currency options.
Lemonn vs Alice Blue — Complete Comparison of Products
| Product | Lemonn | Alice Blue |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No | Yes |
| Commodity Future | No | Yes |
| Currency Option | No | Yes |
| Currency Future | No | Yes |
| Foreign Stocks | No | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | No | No |
Demat services: Lemonn and Alice Blue both list Demat services.
Trading services: Lemonn and Alice Blue both list trading services.
Intraday services: Lemonn and Alice Blue both list intraday trading services.
F&O services: Lemonn and Alice Blue both list F&O services.
IPO services: Lemonn and Alice Blue both list IPO services.
3-in-1 account: Lemonn lists 3-in-1 account support, while Alice Blue does not currently mention it.
Stock research: Lemonn lists stock research, while Alice Blue does not currently mention it.
Stock recommendations: Lemonn lists stock recommendations, while Alice Blue does not currently mention it.
Trading education: Alice Blue lists trading education, while Lemonn does not currently mention it.
Share pledging: Lemonn and Alice Blue both list share pledging.
PMS or PCG: Lemonn lists PMS or PCG support, while Alice Blue does not currently mention it.
NRI services: Neither broker currently highlights NRI services.
Lemonn provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Alice Blue offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Lemonn vs Alice Blue — In-Depth Comparison of Services
| Service | Lemonn | 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 | Yes | 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 | 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 Lemonn and Alice Blue.
Lemonn and Alice Blue — Detailed Comparison of Advisory Services
| Advisory | Lemonn | Alice Blue |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | Yes, chargeable |
| Company Reports | Yes | No |
| Annual Reports | Yes | 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 | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | Yes, chargeable |
| Robo Advisory | Yes | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Lemonn and Alice Blue across different segments.
Lemonn and Alice Blue — Comprehensive Comparison of Trading Exposure
| Exposure | Lemonn | Alice Blue |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | 2x | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 2x | 1.3x |
| Commodity F&O Carry Forward | N/A | 1x |
| Commodity F&O Intraday | N/A | 1.3x |
| Currency F&O | N/A | 1x |
Lemonn and Alice Blue both list a sub-broker program. Lemonn and Alice Blue both list a partner program. Lemonn and Alice Blue both list a referral program.
Lemonn vs Alice Blue — Comparative Analysis of Programs
| Program | Lemonn | Alice Blue |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Lemonn provides support through trading desk support, call support, email support, website support and Facebook support. Alice Blue provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.
Lemonn and Alice Blue — Comprehensive Comparison of Customer Support
| Support Channel | Lemonn | Alice Blue |
|---|---|---|
| Trading Support | +918035769929 | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | |
| Call Support | +918040011310 | 080-35215000, 080-45490850 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | https://lemonn.co.in/ | Website Link |
| Facebook Support | https://www.facebook.com/lemonnhq | Facebook Support Link |
| Twitter / X Support | https://twitter.com/LemonnHQ | Twitter Support Link |
| Telegram Support | — | Telegram Support Link |
| Branches / Offices | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Lemonn carries an overall rating of 4/5, while Alice Blue carries an overall rating of 8.05 / 10.
Lemonn vs Alice Blue — Ratings Comparison
| Rating Parameter | Lemonn | Alice Blue |
|---|---|---|
| Overall Rating | 4/5 | 8.05 / 10 |
| Customer Support | 4/5 | 8.02 / 10 |
| Technology | 4/5 | 8.14 / 10 |
| Charges | 4/5 | 8.08 / 10 |
| Products & Services | 4/5 | 8.00 / 10 |
| Experience | 4/5 | 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.
Lemonn & Alice Blue — Comparison of Customer Complaints
| Complaint Metric | Lemonn | Alice Blue |
|---|---|---|
| Total Complaints Lodged | 77 | |
| Total Complaints Resolved | 65 | |
| % of Resolved Complaints | 84.42% | |
| Non-Actionable Complaints | 2 | |
| % of Non-Actionable Complaints | 2.60% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Lemonn and Alice Blue.
Lemonn vs Alice Blue — Detailed Comparison of Transaction Charges
| Transaction Charges | Lemonn | Alice Blue |
|---|---|---|
| Equity Delivery | ₹1500 per crore on buy orders | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Intraday | ₹300 per crore on buy orders | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Future | ₹200 per crore on buy orders | 0.0019% (NSE & BSE) |
| Equity Option | ₹200 per crore on buy orders | 0.05% (on premium) |
| Commodity Future | - | 0.0026% (Non-Agri) |
| Commodity Option | - | 0.05% (Non Agri) |
| Currency Future | - | 0.0009% (NSE) |
| Currency Option | - | 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.
Lemonn & Alice Blue — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Lemonn | Alice Blue |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | Rs.15 per Request |
| Pledge Invocation Charges | ₹50 per ISIN | Rs.15 per Request |
| Margin Trading Interest | ₹20 | 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.
Lemonn and Alice Blue — Detailed Comparison of Hidden / Other Charges
| Charge | Lemonn | Alice Blue |
|---|---|---|
| SEBI Turnover Charges | 0.0001% | Rs.10/ Crore (All Segment) |
| DP Charges | Rs 20 | Rs.15 per Scrip on Sell |
| GST | 18% on (transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Nil | |
| Reactivation Charges | Nil | |
| Dematerialisation Charges | Rs.25 per Certificate | |
| Call & Trade Charges | ₹50 per ISIN | Rs.50 per Trade |
Lemonn lists account opening charges of Free and Demat AMC of Rs 250+ GST. Alice Blue lists account opening charges of Free and Demat AMC of Rs.400 per Year.
Lemonn vs Alice Blue — Detailed Comparison of Demat Charges
| Demat Charges | Lemonn | Alice Blue |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs 250+ GST | 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.
Lemonn vs Alice Blue — Comparative Analysis of STT and CTT Charges
| STT & CTT | Lemonn | Alice Blue |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on the sell side | 0.025% on sell |
| Equity Future | 0.01% on the sell side | 0.0125% on sell |
| Equity Option | 0.5% on sell side | 0.0625% on sell (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.
Lemonn and Alice Blue — Comparison of Stamp Duty Charges
| Stamp Duty | Lemonn | Alice Blue |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |