Punch Trade and Angel One are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Punch Trade is listed as a Private Discount Broker , established in 2021 and headquartered in Mumbai, India, while Angel One is listed as a Public Full Service , established in 1987 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 Punch Trade or Angel One is a better fit for your investment style, platform preference, and budget.
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. The broker highlights access to equity delivery, equity intraday, equity futures and equity options through mobile app access and web trading and promotes features such as watchlists, real-time updates, portfolio tracking, research reports, interactive charts and live market tracking.
Angel One is listed as a Public Full Service established in 1987 with headquarters in Mumbai and founded by Dinesh Agarwal. 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 global indices tracking. Its brokerage model is structured as i-trade Prime.
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.
Punch Trade vs Angel One — A Comprehensive Company Overview
| Company Overview | Punch Trade | Angel One |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Mumbai, India | Mumbai |
| Founder | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar | Dinesh Agarwal |
| Establishment Year | 2021 | 1987 |
| Brokerage Plan | — | i-trade Prime |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Punch Trade and Angel One.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Punch Trade charges ₹1/order or 0.10% while Angel One charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Punch Trade charges ₹1/order or 0.10% while Angel One charges Rs.20 per Trade or 0.25% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Punch Trade charges ₹1/order or 0.10% while Angel One charges Rs.20 per Trade or 0.25% (whichever is low).
Equity options: This charge applies to equity option contracts. Punch Trade charges ₹1/order or 0.10% while Angel One charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Punch Trade charges N/A ; Angel One charges Rs.20 per Trade or 0.25% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Punch Trade charges N/A ; Angel One charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Punch Trade charges N/A ; Angel One charges Rs.20 per Trade or 0.25% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Punch Trade charges N/A ; Angel One charges Rs.20 per Trade.
Punch Trade vs Angel One — Detailed Brokerage Comparison
| Brokerage | Punch Trade | Angel One |
|---|---|---|
| Brokerage Plan | i-trade Prime | |
| Subscription Charges | Zero | |
| Equity Delivery | ₹1/order or 0.10% | Free |
| Equity Intraday | ₹1/order or 0.10% | Rs.20 per Trade or 0.25% (whichever is low) |
| Equity Future | ₹1/order or 0.10% | Rs.20 per Trade or 0.25% (whichever is low) |
| Equity Option | ₹1/order or 0.10% | Rs.20 per Trade |
| Commodity Future | Not available | Rs.20 per Trade or 0.25% (whichever is low) |
| Commodity Option | Not available | Rs.20 per Trade |
| Currency Future | Not available | Rs.20 per Trade or 0.25% (whichever is low) |
| Currency Option | Not available | Rs.20 per Trade |
Punch Trade provides mobile app access and web trading for order placement, portfolio tracking, and market monitoring. Angel One provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Punch Trade and Angel One both list an Android trading app.
iOS app: Punch Trade and Angel One both list an iOS trading app.
Web trading platform: Punch Trade and Angel One 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: Punch Trade and Angel One 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.
Punch Trade vs Angel One — Complete Comparison of Trading Platforms
| Trading Platform | Punch Trade | Angel One |
|---|---|---|
| Android App | Download | Angel One Android App Link |
| iOS App | Not available (in development) | Angel One iOS App Link |
| Web Trading Platform | Yes (punch.trade) | Angel One Web Trading Link |
| Trading Terminal | Not available | Available |
| Algo Trading Platform | Not available | Available |
| Foreign Stocks Platform | Not available | Available |
| Basket Trading Platform | Yes — add to Trading Platforms | Available |
| Mutual Fund Platform | Not available | Available |
| Digital Gold Platform | Not available | No |
| Bonds Platform | Not available | No |
Punch Trade highlights trading features including watchlists, real-time updates, portfolio tracking, research reports, interactive charts and live market tracking, while Angel One promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices 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 Punch Trade and Angel One offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Punch Trade and Angel One offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Punch Trade and Angel One 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 Punch Trade and Angel One 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 Punch Trade and Angel One offer this feature.
Live market: Live updates on market movements and trends. Both Punch Trade and Angel One 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 Punch Trade and Angel One offer this feature.
Punch Trade vs Angel One — Comprehensive Comparison of Trading Features
| Trading Feature | Punch Trade | Angel One |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | No | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | 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 Punch Trade and Angel One.
Free account opening: Punch Trade lists free account opening, while Angel One does not currently mention it.
Free AMC: Punch Trade and Angel One both list free Demat AMC.
Free brokerage: Angel One lists free brokerage, while Punch Trade does not currently mention it.
Flat brokerage: Punch Trade and Angel One 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.
Punch Trade vs Angel One — Comparison of Latest Offers
| Offer | Punch Trade | Angel One |
|---|---|---|
| Free Account Opening | Yes | No |
| Free AMC | Yes | 1st Year Free |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | Yes (₹1/order) | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | No | Upto Rs.1000 Gift Vouchers 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. Punch Trade highlights equity delivery, equity intraday, equity futures and equity options, while Angel One 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, commodity futures, commodity options, currency futures, currency options, foreign stocks, mutual funds and insurance.
Punch Trade vs Angel One — Complete Comparison of Products
| Product | Punch Trade | Angel One |
|---|---|---|
| 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 | Not available | Yes |
| Mutual Funds | Not available | Yes |
| Banking | Not available | No |
| Insurance | Not available | Yes |
| Corporate Bonds | Not available | No |
| Government Bonds | Not available | No |
| Digital Gold | Not available | No |
Demat services: Punch Trade and Angel One both list Demat services.
Trading services: Punch Trade and Angel One both list trading services.
Intraday services: Punch Trade and Angel One both list intraday trading services.
F&O services: Punch Trade and Angel One 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: Punch Trade and Angel One 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.
Punch Trade provides Demat services, trading services, intraday trading, F&O trading and stock research, while Angel One offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Punch Trade vs Angel One — In-Depth Comparison of Services
| Service | Punch Trade | Angel One |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | No | Yes |
| 3-in-1 Account | No | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | No | Yes, Smart Money |
| Share Pledging | No | Yes |
| PMS or PCG | No | 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 Punch Trade and Angel One.
Punch Trade and Angel One — Detailed Comparison of Advisory Services
| Advisory | Punch Trade | Angel One |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | No | Yes |
| Daily Top Stock Picks | No | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | No | Yes |
| Weekly Review | No | Yes |
| Relationship Manager | No | Yes |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Punch Trade and Angel One across different segments.
Punch Trade and Angel One — Comprehensive Comparison of Trading Exposure
| Exposure | Punch Trade | Angel One |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Up to 5x | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x (exchange margin only) | 1x |
| Equity F&O Intraday | 1x (exchange margin only) | 1.3x |
| Commodity F&O Carry Forward | Not applicable | 1x |
| Commodity F&O Intraday | Not applicable | 1.3x |
| Currency F&O | Not applicable | 1x |
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. Punch Trade and Angel One both list a referral program.
Punch Trade vs Angel One — Comparative Analysis of Programs
| Program | Punch Trade | Angel One |
|---|---|---|
| Sub-Broker Program | Yes | |
| Partner Program | Yes, Angel DRA | |
| Referral Program | Yes (Punch Champions) | Yes |
Punch Trade provides support through trading desk support, call support, email support, website support and Facebook support. Angel One provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Angel One operates Available branches.
Punch Trade and Angel One — Comprehensive Comparison of Customer Support
| Support Channel | Punch Trade | Angel One |
|---|---|---|
| Trading Support | +91 79482 22271 | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | |
| Call Support | +91 79410 57311 | 8047480048 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | Punch Trade | Website Link |
| 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. Punch Trade carries an overall rating of 7.5/10, while Angel One carries an overall rating of 9.70 / 10.
Punch Trade vs Angel One — Ratings Comparison
| Rating Parameter | Punch Trade | Angel One |
|---|---|---|
| Overall Rating | 7.5/10 | 9.70 / 10 |
| Customer Support | 6.5/10 | 9.66 / 10 |
| Technology | 8.5/10 | 9.82 / 10 |
| Charges | 9.5/10 | 9.74 / 10 |
| Products & Services | 6.5/10 | 9.64 / 10 |
| Experience | 8.0/10 | 9.62 / 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.
Punch Trade & Angel One — Comparison of Customer Complaints
| Complaint Metric | Punch Trade | Angel One |
|---|---|---|
| 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 Punch Trade and Angel One.
Punch Trade vs Angel One — Detailed Comparison of Transaction Charges
| Transaction Charges | Punch Trade | Angel One |
|---|---|---|
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% | 0.00325% (NSE) & As per Stock (BSE) |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% | 0.00325% (NSE) & As per Stock (BSE) |
| Equity Future | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | 0.0019% (NSE & BSE) |
| Equity Option | NSE: 0.00173% | BSE: 0 | 0.05% (on premium) |
| 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.
Punch Trade & Angel One — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Punch Trade | Angel One |
|---|---|---|
| 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.
Punch Trade and Angel One — Detailed Comparison of Hidden / Other Charges
| Charge | Punch Trade | Angel One |
|---|---|---|
| SEBI Turnover Charges | ₹10/crore | Rs.10/ Crore (All Segment) |
| DP Charges | ₹3.50 + 18% GST per order | Rs.13.5 per Scrip only on Sell |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Free | |
| Reactivation Charges | Free | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | ₹50 (incl. GST) | Rs.20 per Trade |
Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free). Angel One lists account opening charges of Free and Demat AMC of Rs.240 per Year + GST (1st Year Free).
Punch Trade vs Angel One — Detailed Comparison of Demat Charges
| Demat Charges | Punch Trade | Angel One |
|---|---|---|
| Account Opening Charges | ₹0 (Free) | Free |
| Annual Maintenance Charges (AMC) | ₹0 (Free) | Rs.240 per Year + GST (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.
Punch Trade vs Angel One — Comparative Analysis of STT and CTT Charges
| STT & CTT | Punch Trade | Angel One |
|---|---|---|
| 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 | 0.02% on sell side | 0.0125% on sell |
| Equity Option | 0.1% on sell side (on premium) | 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.
Punch Trade and Angel One — Comparison of Stamp Duty Charges
| Stamp Duty | Punch Trade | Angel One |
|---|---|---|
| Equity Delivery | 0.015% buy side only (government-mandated rate) | 0.015% on buy |
| Equity Intraday | 0.025% on the sell side | 0.003% on buy |
| Equity Future | 0.1% on sell side (on premium) | 0.002% on buy |
| Equity Option | 0.02% on sell side | 0.003% on buy |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.003% on buy |