Punch Trade and Bajaj Broking 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 Bajaj Broking is listed as a Public Discount Broker , established in 2010 and headquartered in Pune, Maharashtra.
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 Bajaj Broking 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, equity options, commodity futures, commodity options and mutual funds 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.
Bajaj Broking is listed as a Public Discount Broker established in 2010 with headquarters in Pune, Maharashtra and founded by Jamnalal Bajaj. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds 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 Freedom Pack, Professional Pack, Signature Pack.
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 Bajaj Broking — A Comprehensive Company Overview
| Company Overview | Punch Trade | Bajaj Broking |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai, India | Pune, Maharashtra |
| Founder | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar | Jamnalal Bajaj |
| Establishment Year | 2021 | 2010 |
| 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 Punch Trade and Bajaj Broking.
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 Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Punch Trade charges ₹1/order or 0.10% while Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Equity futures: This charge applies to futures contracts on stocks and indices. Punch Trade charges ₹1/order or 0.10% while Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Equity options: This charge applies to equity option contracts. Punch Trade charges ₹1/order or 0.10% while Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Punch Trade charges N/A ; Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Commodity options: This charge applies to option contracts on commodity instruments. Punch Trade charges N/A ; Bajaj Broking charges Starting ₹10 per order (Freedom Pack ₹20).
Punch Trade vs Bajaj Broking — Detailed Brokerage Comparison
| Brokerage | Punch Trade | Bajaj Broking |
|---|---|---|
| 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 | ₹1/order or 0.10% | Starting ₹10 per order (Freedom Pack ₹20) |
| Equity Intraday | ₹1/order or 0.10% | Starting ₹10 per order (Freedom Pack ₹20) |
| Equity Future | ₹1/order or 0.10% | Starting ₹10 per order (Freedom Pack ₹20) |
| Equity Option | ₹1/order or 0.10% | Starting ₹10 per order (Freedom Pack ₹20) |
| Commodity Future | Not available | Starting ₹10 per order (Freedom Pack ₹20) |
| Commodity Option | Not available | Starting ₹10 per order (Freedom Pack ₹20) |
| Currency Future | Not available | N/A |
| Currency Option | Not available | N/A |
Punch Trade provides mobile app access and web trading for order placement, portfolio tracking, and market monitoring. Bajaj Broking provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Punch Trade and Bajaj Broking both list an Android trading app.
iOS app: Punch Trade and Bajaj Broking both list an iOS trading app.
Web trading platform: Punch Trade and Bajaj Broking 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.
Punch Trade vs Bajaj Broking — Complete Comparison of Trading Platforms
| Trading Platform | Punch Trade | Bajaj Broking |
|---|---|---|
| Android App | Download | Yes |
| iOS App | The iOS app is in development | Yes |
| Web Trading Platform | Yes (punch.trade) | Yes |
| Trading Terminal | Not available | Yes |
| Algo Trading Platform | Not available | Yes |
| Foreign Stocks Platform | Not available | N/A |
| Basket Trading Platform | Yes — add to Trading Platforms | N/A |
| Mutual Fund Platform | Not available | Yes |
| Digital Gold Platform | Not available | N/A |
| Bonds Platform | Not available | Yes |
Punch Trade highlights trading features including watchlists, real-time updates, portfolio tracking, research reports, interactive charts and live market tracking, while Bajaj Broking 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 Punch Trade and Bajaj Broking offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Punch Trade and Bajaj Broking offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Punch Trade and Bajaj Broking 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 Punch Trade and Bajaj Broking 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 Punch Trade and Bajaj Broking offer this feature.
Live market: Live updates on market movements and trends. Both Punch Trade and Bajaj Broking 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.
Punch Trade vs Bajaj Broking — Comprehensive Comparison of Trading Features
| Trading Feature | Punch Trade | Bajaj Broking |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | N/A |
| Customised Recommendations | No | N/A |
| Stock Tips | No | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | N/A |
| Robust & Secure Platform | Yes | N/A |
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 Bajaj Broking.
Free account opening: Punch Trade and Bajaj Broking both list free account opening.
Free AMC: Punch Trade and Bajaj Broking both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Punch Trade and Bajaj Broking 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.
Punch Trade vs Bajaj Broking — Comparison of Latest Offers
| Offer | Punch Trade | Bajaj Broking |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | Yes (₹1/order) | Yes |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | N/A | |
| Free Delivery Trading | No | N/A |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | N/A |
| Free Trading Calls | No | Yes |
| Referral Offers | No | N/A |
| Margin Funding / Pledging | No | Yes |
| Brokerage Cashback | No | N/A |
| Zero Brokerage for Loss-Making Trades | No | N/A |
Product availability determines whether a broker can support your preferred markets. Punch Trade highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds, while Bajaj Broking 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.
Punch Trade vs Bajaj Broking — Complete Comparison of Products
| Product | Punch Trade | Bajaj Broking |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No commodity options yet — Research and Reports coming soon. | Yes |
| Commodity Future | Commodity future coming soon; Stock Research and Reports on the way. | Yes |
| Currency Option | No | N/A |
| Currency Future | No | N/A |
| Foreign Stocks | Not available | N/A |
| Mutual Funds | Mutual funds aren't supported yet; Stock Research and Reports are launching soon. | Yes |
| Banking | Not available | No |
| Insurance | Not available | No |
| Corporate Bonds | Not available | Yes |
| Government Bonds | Not available | N/A |
| Digital Gold | Not available | N/A |
Demat services: Punch Trade and Bajaj Broking both list Demat services.
Trading services: Punch Trade and Bajaj Broking both list trading services.
Intraday services: Punch Trade and Bajaj Broking both list intraday trading services.
F&O services: Punch Trade and Bajaj Broking both list F&O services.
IPO services: Punch Trade and Bajaj Broking both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Punch Trade and Bajaj Broking 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.
Punch Trade provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Bajaj Broking offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Punch Trade vs Bajaj Broking — In-Depth Comparison of Services
| Service | Punch Trade | Bajaj Broking |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | No IPOs for now — Stock Research and Reports are coming soon. | Yes |
| 3-in-1 Account | No | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | No | N/A |
| Trading Education | No | N/A |
| 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 Bajaj Broking.
Punch Trade and Bajaj Broking — Detailed Comparison of Advisory Services
| Advisory | Punch Trade | Bajaj Broking |
|---|---|---|
| Fundamental Reports | Yes | N/A |
| Research Reports | Yes | Yes |
| Company Reports | No | N/A |
| Annual Reports | No | N/A |
| IPO Reports | No | N/A |
| Technical Reports | No | N/A |
| Stock Tips | No | Yes |
| Daily Top Stock Picks | No | N/A |
| Daily Market Review | No | Yes |
| Monthly Review | No | N/A |
| Weekly Review | No | N/A |
| Relationship Manager | No | N/A |
| Robo Advisory | No | N/A |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Punch Trade and Bajaj Broking across different segments.
Punch Trade and Bajaj Broking — Comprehensive Comparison of Trading Exposure
| Exposure | Punch Trade | Bajaj Broking |
|---|---|---|
| Equity Delivery | 1x | 1x (MTF up to 3.5x in selected stocks) |
| Equity Intraday | Up to 5x | Up to 5x |
| Equity F&O Carry Forward | 1x (exchange margin only) | 1x (no additional margin) |
| Equity F&O Intraday | 1x (exchange margin only) | 1.3x |
| Commodity F&O Carry Forward | Not applicable | 1x (no additional margin) |
| Commodity F&O Intraday | Not applicable | 1.3x |
| Currency F&O | Not applicable | N/A |
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.
Punch Trade vs Bajaj Broking — Comparative Analysis of Programs
| Program | Punch Trade | Bajaj Broking |
|---|---|---|
| Sub-Broker Program | N/A | |
| Partner Program | N/A | |
| Referral Program | Yes (Punch Champions) | N/A |
Punch Trade provides support through trading desk support, call support, email support, website support and Facebook support. Bajaj Broking provides support through trading desk support, call support, email support and website support. Bajaj Broking operates Head office: 4th Floor, Bajaj Finserv House, Off Pune–Ahmednagar Road, Viman Nagar, Pune – 411014, Maharashtra branches.
Punch Trade and Bajaj Broking — Comprehensive Comparison of Customer Support
| Support Channel | Punch Trade | Bajaj Broking |
|---|---|---|
| Trading Support | +91 79482 22271 | Yes |
| Dedicated Dealer | N/A | |
| Call Support | +91 79410 57311 | Yes (1800-833-8888) |
| Email Support | [email protected] | Yes ([email protected]) |
| WhatsApp Support | N/A | |
| Website Support | Punch Trade | Yes (https://www.bajajbroking.in/knowledge-center) |
| 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. Punch Trade carries an overall rating of 7.5/10, while Bajaj Broking carries an overall rating of 3.6 / 5.
Punch Trade vs Bajaj Broking — Ratings Comparison
| Rating Parameter | Punch Trade | Bajaj Broking |
|---|---|---|
| Overall Rating | 7.5/10 | 3.6 / 5 |
| Customer Support | 6.5/10 | 3.5 / 5 |
| Technology | 8.5/10 | 3.5 / 5 |
| Charges | 9.5/10 | 3.5 / 5 |
| Products & Services | 6.5/10 | 4.0 / 5 |
| Experience | 8.0/10 | N/A |
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 & Bajaj Broking — Comparison of Customer Complaints
| Complaint Metric | Punch Trade | Bajaj Broking |
|---|---|---|
| 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 Punch Trade and Bajaj Broking.
Punch Trade vs Bajaj Broking — Detailed Comparison of Transaction Charges
| Transaction Charges | Punch Trade | Bajaj Broking |
|---|---|---|
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% | NSE 0.00345% | BSE varies by scrip group |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% | NSE 0.00345% | BSE varies by scrip group |
| Equity Future | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | NSE 0.002% | BSE Nil or 0.05% of traded value |
| Equity Option | NSE: 0.00173% | BSE: 0 | NSE 0.053% on premium | BSE Nil or 0.05% of traded value |
| 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.
Punch Trade & Bajaj Broking — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Punch Trade | Bajaj Broking |
|---|---|---|
| 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.
Punch Trade and Bajaj Broking — Detailed Comparison of Hidden / Other Charges
| Charge | Punch Trade | Bajaj Broking |
|---|---|---|
| SEBI Turnover Charges | ₹10/crore | ₹10 per crore (0.0001%) |
| DP Charges | ₹3.50 + 18% GST per order | ₹30 per ISIN per debit transaction |
| GST | 18% on (brokerage + SEBI charges + transaction charges) | 18% on brokerage, transaction charges and SEBI fees |
| Account Closure Charges | N/A | |
| Reactivation Charges | N/A | |
| Dematerialisation Charges | ₹100 per request + ₹100 per certificate + GST | |
| Call & Trade Charges | ₹50 (incl. GST) | ₹20 + GST per executed order |
Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free). Bajaj Broking lists account opening charges of ₹0 and Demat AMC of ₹0.
Punch Trade vs Bajaj Broking — Detailed Comparison of Demat Charges
| Demat Charges | Punch Trade | Bajaj Broking |
|---|---|---|
| Account Opening Charges | ₹0 (Free) | ₹0 |
| Annual Maintenance Charges (AMC) | ₹0 (Free) | ₹0 |
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 Bajaj Broking — Comparative Analysis of STT and CTT Charges
| STT & CTT | Punch Trade | Bajaj Broking |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on both buy and sell |
| Equity Intraday | 0.025% on the sell side | 0.025% on sell side |
| Equity Future | 0.05% on sell side | 0.05% on sell side |
| Equity Option | 0.1% on sell side (on premium) | 0.15% of premium on sell side |
| 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.
Punch Trade and Bajaj Broking — Comparison of Stamp Duty Charges
| Stamp Duty | Punch Trade | Bajaj Broking |
|---|---|---|
| Equity Delivery | 0.015% buy side only (government-mandated rate) | 0.015% (buy side) |
| Equity Intraday | 0.025% on the sell side | 0.003% (buy side) |
| Equity Future | 0.1% on sell side (on premium) | 0.002% (buy side) |
| Equity Option | 0.15% on sell side (on premium) | 0.003% (buy side) |
| Commodity Future | 0.002% (buy side) | |
| Commodity Option | 0.003% (buy side) | |
| Currency Future | 0.0001% (buy side) | |
| Currency Option | 0.0001% (buy side) |