Lemonn and Anand Rathi 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 Anand Rathi is listed as a Public Discount Broker , established in 1994 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 Lemonn or Anand Rathi 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.
Anand Rathi is listed as a Public Discount Broker established in 1994 with headquarters in Mumbai and founded by Anand Rathi. 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, research reports 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.
Lemonn vs Anand Rathi — A Comprehensive Company Overview
| Company Overview | Lemonn | Anand Rathi |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari | Anand Rathi |
| Establishment Year | 2020 | 1994 |
| 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 Anand Rathi.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Lemonn charges Rs 20 per executed order while Anand Rathi charges 0.30% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Lemonn charges Rs 20 per executed order while Anand Rathi charges 0.30% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Lemonn charges Rs 20 per executed order while Anand Rathi charges 0.30% of Transaction Value.
Equity options: This charge applies to equity option contracts. Lemonn charges Rs 20 per executed order while Anand Rathi charges Rs.50 per Lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Lemonn charges N/A ; Anand Rathi charges 0.03% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Lemonn charges N/A ; Anand Rathi charges Rs.25 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Lemonn charges N/A ; Anand Rathi charges 0.03% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Lemonn charges N/A ; Anand Rathi charges Rs.25 per Lot.
Lemonn vs Anand Rathi — Detailed Brokerage Comparison
| Brokerage | Lemonn | Anand Rathi |
|---|---|---|
| Brokerage Plan | Standard | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs 20 per executed order | 0.30% of Transaction Value |
| Equity Intraday | Rs 20 per executed order | 0.30% of Transaction Value |
| Equity Future | Rs 20 per executed order | 0.30% of Transaction Value |
| Equity Option | Rs 20 per executed order | Rs.50 per Lot |
| Commodity Future | Not Available | 0.03% of Transaction Value |
| Commodity Option | Not Available | Rs.25 per Lot |
| Currency Future | Not Available | 0.03% of Transaction Value |
| Currency Option | Not Available | Rs.25 per Lot |
Lemonn provides mobile app access, web trading and desktop terminal access for order placement, portfolio tracking, and market monitoring. Anand Rathi provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Lemonn and Anand Rathi both list an Android trading app.
iOS app: Lemonn and Anand Rathi both list an iOS trading app.
Web trading platform: Lemonn and Anand Rathi both list a web trading platform.
Desktop trading terminal: Lemonn and Anand Rathi both list a desktop trading terminal.
Algo trading: Anand Rathi 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 Anand Rathi 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 Anand Rathi — Complete Comparison of Trading Platforms
| Trading Platform | Lemonn | Anand Rathi |
|---|---|---|
| Android App | Download | Anand Rathi Android App Link |
| iOS App | Download | Anand Rathi iOS App Link |
| Web Trading Platform | Lemonn Trade | Anand Rathi 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 Anand Rathi promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports 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 Lemonn and Anand Rathi offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Lemonn and Anand Rathi offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Lemonn and Anand Rathi offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Lemonn and Anand Rathi offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Lemonn and Anand Rathi offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Lemonn 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 Lemonn and Anand Rathi offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Lemonn and Anand Rathi offer this feature.
Live market: Live updates on market movements and trends. Both Lemonn and Anand Rathi offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Both Lemonn and Anand Rathi offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Lemonn and Anand Rathi offer this feature.
Lemonn vs Anand Rathi — Comprehensive Comparison of Trading Features
| Trading Feature | Lemonn | Anand Rathi |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | Yes | No |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | Yes |
| 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 Anand Rathi.
Free account opening: Lemonn and Anand Rathi both list free account opening.
Free AMC: Lemonn and Anand Rathi both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Lemonn and Anand Rathi both list flat brokerage pricing.
Flexible brokerage plans: Anand Rathi lists flexible brokerage plans, while Lemonn does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Lemonn lists free delivery trading, while Anand Rathi 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: Anand Rathi lists free research reports, while Lemonn does not currently mention it.
Free trading calls: Anand Rathi lists free trading calls, while Lemonn 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 for referrals; Lemonn does not currently list a referral offer.
Lemonn vs Anand Rathi — Comparison of Latest Offers
| Offer | Lemonn | Anand Rathi |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Free for 1st Year, Rs 250+ Gst afterwards | Yes, Limited |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | No | Rs.250 per Client |
| Margin Funding / Pledging | No | Yes |
| 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 Anand Rathi 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, currency options, foreign stocks, insurance, corporate bonds and government bonds.
Lemonn vs Anand Rathi — Complete Comparison of Products
| Product | Lemonn | Anand Rathi |
|---|---|---|
| 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 | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | No | No |
Demat services: Lemonn and Anand Rathi both list Demat services.
Trading services: Lemonn and Anand Rathi both list trading services.
Intraday services: Lemonn and Anand Rathi both list intraday trading services.
F&O services: Lemonn and Anand Rathi both list F&O services.
IPO services: Lemonn and Anand Rathi both list IPO services.
3-in-1 account: Lemonn lists 3-in-1 account support, while Anand Rathi does not currently mention it.
Stock research: Lemonn and Anand Rathi both list stock research.
Stock recommendations: Lemonn and Anand Rathi both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: Lemonn and Anand Rathi both list share pledging.
PMS or PCG: Lemonn and Anand Rathi both list PMS or PCG support.
NRI services: Anand Rathi lists NRI services, while Lemonn does not currently mention it.
Lemonn provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Anand Rathi offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Lemonn vs Anand Rathi — In-Depth Comparison of Services
| Service | Lemonn | Anand Rathi |
|---|---|---|
| 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 | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | Yes |
| NRI Services | No | Yes |
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 Anand Rathi.
Lemonn and Anand Rathi — Detailed Comparison of Advisory Services
| Advisory | Lemonn | Anand Rathi |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | No |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | Yes |
| Robo Advisory | Yes | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Lemonn and Anand Rathi across different segments.
Lemonn and Anand Rathi — Comprehensive Comparison of Trading Exposure
| Exposure | Lemonn | Anand Rathi |
|---|---|---|
| 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 Anand Rathi both list a sub-broker program. Lemonn and Anand Rathi both list a partner program. Lemonn and Anand Rathi both list a referral program.
Lemonn vs Anand Rathi — Comparative Analysis of Programs
| Program | Lemonn | Anand Rathi |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Lemonn provides support through trading desk support, call support, email support, website support and Facebook support. Anand Rathi provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Anand Rathi operates Available branches.
Lemonn and Anand Rathi — Comprehensive Comparison of Customer Support
| Support Channel | Lemonn | Anand Rathi |
|---|---|---|
| Trading Support | +918035769929 | Available, Free |
| Dedicated Dealer | Available, Free | |
| Call Support | +918040011310 | 0291-6661001 |
| 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 | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Lemonn carries an overall rating of 4/5, while Anand Rathi carries an overall rating of 7.90 / 10.
Lemonn vs Anand Rathi — Ratings Comparison
| Rating Parameter | Lemonn | Anand Rathi |
|---|---|---|
| Overall Rating | 4/5 | 7.90 / 10 |
| Customer Support | 4/5 | 7.87 / 10 |
| Technology | 4/5 | 7.99 / 10 |
| Charges | 4/5 | 7.93 / 10 |
| Products & Services | 4/5 | 7.85 / 10 |
| Experience | 4/5 | 7.84 / 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 & Anand Rathi — Comparison of Customer Complaints
| Complaint Metric | Lemonn | Anand Rathi |
|---|---|---|
| Total Complaints Lodged | 35 | |
| Total Complaints Resolved | 30 | |
| % of Resolved Complaints | 85.71% | |
| Non-Actionable Complaints | 3 | |
| % of Non-Actionable Complaints | 8.57% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Lemonn and Anand Rathi.
Lemonn vs Anand Rathi — Detailed Comparison of Transaction Charges
| Transaction Charges | Lemonn | Anand Rathi |
|---|---|---|
| Equity Delivery | ₹1500 per crore on buy orders | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | ₹300 per crore on buy orders | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Future | ₹200 per crore on buy orders | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 |
| Equity Option | ₹200 per crore on buy orders | 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.
Lemonn & Anand Rathi — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Lemonn | Anand Rathi |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | - |
| Pledge Invocation Charges | ₹50 per ISIN | - |
| Margin Trading Interest | ₹20 | - |
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 Anand Rathi — Detailed Comparison of Hidden / Other Charges
| Charge | Lemonn | Anand Rathi |
|---|---|---|
| SEBI Turnover Charges | 0.0001% | 0.0001% (₹10/Crore) of the turnover |
| DP Charges | Rs 20 | - |
| GST | 18% on (transaction charges) | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
| Account Closure Charges | - | |
| Reactivation Charges | - | |
| Dematerialisation Charges | - | |
| Call & Trade Charges | ₹50 per ISIN | - |
Lemonn lists account opening charges of Free and Demat AMC of Rs 250+ GST. Anand Rathi lists account opening charges of Free and Demat AMC of Rs.450 per Year (1st Year Free).
Lemonn vs Anand Rathi — Detailed Comparison of Demat Charges
| Demat Charges | Lemonn | Anand Rathi |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs 250+ GST | Rs.450 per Year (1st 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.
Lemonn vs Anand Rathi — Comparative Analysis of STT and CTT Charges
| STT & CTT | Lemonn | Anand Rathi |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on both Buy & Sell sides |
| Equity Intraday | 0.025% on the sell side | 0.025% on the Sell side only |
| Equity Future | 0.01% on the sell side | 0.0125% on the Sell side |
| Equity Option | 0.5% on sell side | 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.
Lemonn and Anand Rathi — Comparison of Stamp Duty Charges
| Stamp Duty | Lemonn | Anand Rathi |
|---|---|---|
| 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% |