SBI Securities and Punch Trade are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. SBI Securities is listed as a Public Discount Broker , established in Arun Mehta and headquartered in Mumbai, 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 SBI Securities or Punch Trade is a better fit for your investment style, platform preference, and budget.
SBI Securities is listed as a Public Discount Broker established in Arun Mehta with headquarters in Mumbai and founded by Arun Mehta. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures 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 stock tips. It follows a Standard 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.
SBI Securities vs Punch Trade — A Comprehensive Company Overview
| Company Overview | SBI Securities | Punch Trade |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai, India |
| Founder | Arun Mehta | Amit Dhakad, Hiral Jain, Arshad Fahoum, Ajit Dandekar |
| Establishment Year | Arun Mehta | 2021 |
| Brokerage Plan | Standard Plan | — |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for SBI Securities and Punch Trade.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. SBI Securities charges 0.50% of Transaction Value while Punch Trade charges ₹1/order or 0.10%.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. SBI Securities charges 0.075% of Transaction Value while Punch Trade charges ₹1/order or 0.10%.
Equity futures: This charge applies to futures contracts on stocks and indices. SBI Securities charges 0.05% of Transaction Value while Punch Trade charges ₹1/order or 0.10%.
Equity options: This charge applies to equity option contracts. SBI Securities charges Rs.50 to Rs.100 per lot while Punch Trade charges ₹1/order or 0.10%.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. SBI Securities charges 0.05% of Transaction Value . Punch Trade does not currently list a charge for this segment.
Commodity options: This charge applies to option contracts on commodity instruments. SBI Securities charges Rs.50 to Rs.100 per lot . Punch Trade does not currently list a charge for this segment.
Currency futures: This charge allows participation in forex price movements on the exchange. SBI Securities charges 0.05% of Transaction Value . Punch Trade does not currently list a charge for this segment.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. SBI Securities charges Rs.20 to Rs.30 per lot . Punch Trade does not currently list a charge for this segment.
SBI Securities vs Punch Trade — Detailed Brokerage Comparison
| Brokerage | SBI Securities | Punch Trade |
|---|---|---|
| Brokerage Plan | Standard Plan | |
| Subscription Charges | Zero | |
| Equity Delivery | 0.50% of Transaction Value | ₹1/order or 0.10% |
| Equity Intraday | 0.075% of Transaction Value | ₹1/order or 0.10% |
| Equity Future | 0.05% of Transaction Value | ₹1/order or 0.10% |
| Equity Option | Rs.50 to Rs.100 per lot | ₹1/order or 0.10% |
| Commodity Future | 0.05% of Transaction Value | Not available |
| Commodity Option | Rs.50 to Rs.100 per lot | Not available |
| Currency Future | 0.05% of Transaction Value | Not available |
| Currency Option | Rs.20 to Rs.30 per lot | Not available |
SBI Securities provides mobile app access, web trading and desktop terminal access for order placement, portfolio tracking, and market monitoring. Punch Trade provides mobile app access and web trading for its users.
Android app: SBI Securities and Punch Trade both list an Android trading app.
iOS app: SBI Securities and Punch Trade both list an iOS trading app.
Web trading platform: SBI Securities and Punch Trade both list a web trading platform.
Desktop trading terminal: SBI Securities lists a desktop trading terminal, while Punch Trade does not currently mention it.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: SBI Securities and Punch Trade both list basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: SBI 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: SBI Securities lists a bonds investment platform, while Punch Trade does not currently mention it.
SBI Securities vs Punch Trade — Complete Comparison of Trading Platforms
| Trading Platform | SBI Securities | Punch Trade |
|---|---|---|
| Android App | SBI Securities Android App Link | Download |
| iOS App | SBI Securities iOS App Link | Not available (in development) |
| Web Trading Platform | SBI Securities Web Trading Link | Yes (punch.trade) |
| Trading Terminal | Available | Not available |
| Algo Trading Platform | NA | Not available |
| Foreign Stocks Platform | NA | Not available |
| Basket Trading Platform | Available | Yes — add to Trading Platforms |
| Mutual Fund Platform | Available | Not available |
| Digital Gold Platform | NA | Not available |
| Bonds Platform | Available | Not available |
SBI Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, 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 SBI Securities and Punch Trade offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both SBI Securities and Punch Trade offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both SBI Securities and Punch Trade offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. SBI Securities offers this; Punch Trade does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both SBI Securities and Punch Trade offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. SBI 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 SBI Securities and Punch Trade offer this feature.
Live market: Live updates on market movements and trends. Both SBI Securities and Punch Trade offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. SBI Securities offers this; Punch Trade does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both SBI Securities and Punch Trade offer this feature.
SBI Securities vs Punch Trade — Comprehensive Comparison of Trading Features
| Trading Feature | SBI Securities | Punch Trade |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | No |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | Yes |
| 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 SBI Securities and Punch Trade.
Free account opening: Punch Trade lists free account opening, while SBI Securities does not currently mention it.
Free AMC: Punch Trade lists free Demat AMC, while SBI Securities does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Punch Trade lists flat brokerage pricing, while SBI Securities does not currently mention it.
Flexible brokerage plans: SBI 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: SBI Securities lists free research reports, while Punch Trade does not currently mention it.
Free trading calls: SBI Securities 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: SBI Securities offers Upto Rs.700 per Client for referrals; Punch Trade does not currently list a referral offer.
SBI Securities vs Punch Trade — Comparison of Latest Offers
| Offer | SBI Securities | Punch Trade |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | No | 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 | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Upto Rs.700 per Client | No |
| Margin Funding / Pledging | Yes | No |
| Brokerage Cashback | Yes | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. SBI Securities highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, 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, commodity futures, commodity options, currency futures, currency options, mutual funds, banking services, insurance, corporate bonds, government bonds and bonds.
SBI Securities vs Punch Trade — Complete Comparison of Products
| Product | SBI Securities | Punch Trade |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | No |
| Commodity Future | Yes | No |
| Currency Option | Yes | No |
| Currency Future | Yes | No |
| Foreign Stocks | No | Not available |
| Mutual Funds | Yes | Not available |
| Banking | Yes | Not available |
| Insurance | Yes | Not available |
| Corporate Bonds | Yes | Not available |
| Government Bonds | Yes | Not available |
| Digital Gold | No | Not available |
Demat services: SBI Securities and Punch Trade both list Demat services.
Trading services: SBI Securities and Punch Trade both list trading services.
Intraday services: SBI Securities and Punch Trade both list intraday trading services.
F&O services: SBI Securities and Punch Trade both list F&O services.
IPO services: SBI Securities lists IPO services, while Punch Trade does not currently mention it.
3-in-1 account: SBI Securities lists 3-in-1 account support, while Punch Trade does not currently mention it.
Stock research: SBI Securities and Punch Trade both list stock research.
Stock recommendations: SBI Securities lists stock recommendations, while Punch Trade does not currently mention it.
Trading education: SBI Securities lists trading education, while Punch Trade does not currently mention it.
Share pledging: SBI Securities lists share pledging, while Punch Trade does not currently mention it.
PMS or PCG: SBI Securities lists PMS or PCG support, while Punch Trade does not currently mention it.
NRI services: SBI Securities lists NRI services, while Punch Trade does not currently mention it.
SBI Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Punch Trade offers Demat services, trading services, intraday trading, F&O trading and stock research.
SBI Securities vs Punch Trade — In-Depth Comparison of Services
| Service | SBI 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 | Yes | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | No |
| Trading Education | Yes, Investor Sarathi | No |
| Share Pledging | Yes | No |
| PMS or PCG | Yes | No |
| NRI Services | Yes | 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 SBI Securities and Punch Trade.
SBI Securities and Punch Trade — Detailed Comparison of Advisory Services
| Advisory | SBI Securities | Punch Trade |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | No |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | Yes | 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 SBI Securities and Punch Trade across different segments.
SBI Securities and Punch Trade — Comprehensive Comparison of Trading Exposure
| Exposure | SBI 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 |
SBI Securities lists a sub-broker program, while Punch Trade does not currently mention it. SBI Securities lists a partner program, while Punch Trade does not currently mention it. SBI Securities and Punch Trade both list a referral program.
SBI Securities vs Punch Trade — Comparative Analysis of Programs
| Program | SBI Securities | Punch Trade |
|---|---|---|
| Sub-Broker Program | Yes | |
| Partner Program | Yes | |
| Referral Program | Yes | Yes (Punch Champions) |
SBI 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. SBI Securities operates Available branches.
SBI Securities and Punch Trade — Comprehensive Comparison of Customer Support
| Support Channel | SBI Securities | Punch Trade |
|---|---|---|
| Trading Support | Available, Free | +91 79482 22271 |
| Dedicated Dealer | Available, Free | |
| Call Support | 022-68545555 | +91 79410 57311 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | ||
| 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. SBI Securities carries an overall rating of 8.95 / 10, while Punch Trade carries an overall rating of 7.5/10.
SBI Securities vs Punch Trade — Ratings Comparison
| Rating Parameter | SBI Securities | Punch Trade |
|---|---|---|
| Overall Rating | 8.95 / 10 | 7.5/10 |
| Customer Support | 8.92 / 10 | 6.5/10 |
| Technology | 9.06 / 10 | 8.5/10 |
| Charges | 8.99 / 10 | 9.5/10 |
| Products & Services | 8.90 / 10 | 6.5/10 |
| Experience | 8.88 / 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.
SBI Securities & Punch Trade — Comparison of Customer Complaints
| Complaint Metric | SBI Securities | Punch Trade |
|---|---|---|
| Total Complaints Lodged | 182 | |
| Total Complaints Resolved | 162 | |
| % of Resolved Complaints | 89.01% | |
| Non-Actionable Complaints | 11 | |
| % of Non-Actionable Complaints | 6.04% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for SBI Securities and Punch Trade.
SBI Securities vs Punch Trade — Detailed Comparison of Transaction Charges
| Transaction Charges | SBI 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.
SBI Securities and Punch Trade — Detailed Comparison of Hidden / Other Charges
| Charge | SBI 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) |
SBI Securities lists account opening charges of Rs.850 and Demat AMC of Rs.750. Punch Trade lists account opening charges of ₹0 (Free) and Demat AMC of ₹0 (Free).
SBI Securities vs Punch Trade — Detailed Comparison of Demat Charges
| Demat Charges | SBI Securities | Punch Trade |
|---|---|---|
| Account Opening Charges | Rs.850 | ₹0 (Free) |
| Annual Maintenance Charges (AMC) | Rs.750 | ₹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.
SBI Securities vs Punch Trade — Comparative Analysis of STT and CTT Charges
| STT & CTT | SBI 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.
SBI Securities and Punch Trade — Comparison of Stamp Duty Charges
| Stamp Duty | SBI 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 |