Shoonya and Alice Blue are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Shoonya is listed as a Private Discount Broker , established in 2020 and headquartered in Punjab, 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 Shoonya or Alice Blue is a better fit for your investment style, platform preference, and budget.
Shoonya is listed as a Private Discount Broker established in 2020 with headquarters in Punjab and founded by Sarvjeet Singh Virk and Tajinder Virk. 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, desktop terminal access and algo trading support 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.
Shoonya vs Alice Blue — A Comprehensive Company Overview
| Company Overview | Shoonya | Alice Blue |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Punjab | Bangalore |
| Founder | Sarvjeet Singh Virk and Tajinder Virk | 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 Shoonya and Alice Blue.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Shoonya charges Zero 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. Shoonya charges 0.03% or Rs. 5.00 whichever is low 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. Shoonya charges 0.03% or Rs. 5.00 whichever is low while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Equity options: This charge applies to equity option contracts. Shoonya charges Flat ₹5 plus GST on per executed order while Alice Blue charges Rs.15 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Shoonya charges 0.03% or Rs. 5.00 whichever is low while Alice Blue charges Rs.15 per Trade or 0.05% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Shoonya charges Flat ₹5 plus GST on per executed order while Alice Blue charges Rs.15 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Shoonya charges 0.03% or Rs. 5.00 whichever is low while 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. Shoonya charges Flat ₹5 plus GST on per executed order while Alice Blue charges Rs.15 per Trade.
Shoonya vs Alice Blue — Detailed Brokerage Comparison
| Brokerage | Shoonya | Alice Blue |
|---|---|---|
| Brokerage Plan | Standard | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Zero | Rs.15 per Trade or 0.05% (Whichever is Low) |
| Equity Intraday | 0.03% or Rs. 5.00 whichever is low | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Future | 0.03% or Rs. 5.00 whichever is low | Rs.15 per Trade or 0.05% (whichever is low) |
| Equity Option | Flat ₹5 plus GST on per executed order | Rs.15 per Trade |
| Commodity Future | 0.03% or Rs. 5.00 whichever is low | Rs.15 per Trade or 0.05% (whichever is low) |
| Commodity Option | Flat ₹5 plus GST on per executed order | Rs.15 per Trade |
| Currency Future | 0.03% or Rs. 5.00 whichever is low | Rs.15 per Trade or 0.05% (whichever is low) |
| Currency Option | Flat ₹5 plus GST on per executed order | Rs.15 per Trade |
Shoonya provides mobile app access, web trading, desktop terminal access and algo trading support 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: Shoonya and Alice Blue both list an Android trading app.
iOS app: Shoonya and Alice Blue both list an iOS trading app.
Web trading platform: Shoonya and Alice Blue both list a web trading platform.
Desktop trading terminal: Shoonya and Alice Blue both list a desktop trading terminal.
Algo trading: Shoonya and Alice Blue both list algo trading support.
Basket trading: Shoonya lists basket trading, while Alice Blue does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Shoonya 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.
Shoonya vs Alice Blue — Complete Comparison of Trading Platforms
| Trading Platform | Shoonya | Alice Blue |
|---|---|---|
| Android App | Download | Alice Blue Android App Link |
| iOS App | Download | Alice Blue iOS App Link |
| Web Trading Platform | Shoonya Trade | Alice Blue Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | No | NA |
| Basket Trading Platform | Available | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | No | NA |
| Bonds Platform | No | NA |
Shoonya 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 Shoonya and Alice Blue offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Shoonya and Alice Blue offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Shoonya and Alice Blue offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Shoonya and Alice Blue offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Shoonya offers this; Alice Blue does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Shoonya offers this; Alice Blue does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Shoonya offers this; Alice Blue does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Shoonya offers this; Alice Blue does not currently highlight it.
Live market: Live updates on market movements and trends. Both Shoonya and Alice Blue offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Shoonya offers this; Alice Blue does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Shoonya and Alice Blue offer this feature.
Shoonya vs Alice Blue — Comprehensive Comparison of Trading Features
| Trading Feature | Shoonya | 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 | |
| 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 Shoonya and Alice Blue.
Free account opening: Shoonya and Alice Blue both list free account opening.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: Alice Blue lists free brokerage, while Shoonya does not currently mention it.
Flat brokerage: Alice Blue lists flat brokerage pricing, while Shoonya does not currently mention it.
Flexible brokerage plans: Shoonya lists flexible brokerage plans, while Alice Blue does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Shoonya 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: Shoonya lists free research reports, while Alice Blue does not currently mention it.
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; Shoonya does not currently list a referral offer.
Shoonya vs Alice Blue — Comparison of Latest Offers
| Offer | Shoonya | Alice Blue |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | No | |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | |
| Free Delivery Trading | Yes | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | No | |
| Referral Offers | 20% + Rs.500 per new Client | |
| Margin Funding / Pledging | Yes | 20% + Rs.500 per new Client |
| Brokerage Cashback | No | |
| Zero Brokerage for Loss-Making Trades | No |
Product availability determines whether a broker can support your preferred markets. Shoonya highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, 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, commodity futures, commodity options, currency futures, currency options, foreign stocks and mutual funds.
Shoonya vs Alice Blue — Complete Comparison of Products
| Product | Shoonya | Alice Blue |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | Yes | 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: Shoonya and Alice Blue both list Demat services.
Trading services: Shoonya and Alice Blue both list trading services.
Intraday services: Shoonya and Alice Blue both list intraday trading services.
F&O services: Shoonya and Alice Blue both list F&O services.
IPO services: Shoonya and Alice Blue both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Shoonya lists stock research, while Alice Blue does not currently mention it.
Stock recommendations: Shoonya lists stock recommendations, while Alice Blue does not currently mention it.
Trading education: Alice Blue lists trading education, while Shoonya does not currently mention it.
Share pledging: Shoonya and Alice Blue both list share pledging.
PMS or PCG: Neither broker currently highlights PMS or PCG support.
NRI services: Neither broker currently highlights NRI services.
Shoonya provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Alice Blue offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Shoonya vs Alice Blue — In-Depth Comparison of Services
| Service | Shoonya | 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 | No | |
| Stock Research | Yes | No |
| Stock Recommendations | Yes | No |
| Trading Education | Yes, ANT IQ | |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | |
| NRI Services | 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 Shoonya and Alice Blue.
Shoonya and Alice Blue — Detailed Comparison of Advisory Services
| Advisory | Shoonya | 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 | No | |
| Weekly Review | No | |
| Relationship Manager | Yes, chargeable | |
| Robo Advisory | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Shoonya and Alice Blue across different segments.
Shoonya and Alice Blue — Comprehensive Comparison of Trading Exposure
| Exposure | Shoonya | 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 | 1.5x | 1x |
| Commodity F&O Intraday | 1.5x | 1.3x |
| Currency F&O | 1.5x | 1x |
Alice Blue lists a sub-broker program, while Shoonya does not currently mention it. Alice Blue lists a partner program, while Shoonya does not currently mention it. Alice Blue lists a referral program, while Shoonya does not currently mention it.
Shoonya vs Alice Blue — Comparative Analysis of Programs
| Program | Shoonya | Alice Blue |
|---|---|---|
| Sub-Broker Program | Yes, Limited | |
| Partner Program | Yes | |
| Referral Program | Yes |
Shoonya 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. Shoonya operates Mumbai branches.
Shoonya and Alice Blue — Comprehensive Comparison of Customer Support
| Support Channel | Shoonya | Alice Blue |
|---|---|---|
| Trading Support | +91 9779 902 002 | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | |
| Call Support | +91 1726 670 000 | 080-35215000, 080-45490850 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | https://shoonya.com/ | Website Link |
| Facebook Support | https://www.facebook.com/ShoonyaApp/ | Facebook Support Link |
| Twitter / X Support | https://twitter.com/shoonyaapp | Twitter Support Link |
| Telegram Support | https://t.me/Shoonya_App | Telegram Support Link |
| Branches / Offices | Mumbai | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Shoonya carries an overall rating of 4/5, while Alice Blue carries an overall rating of 8.05 / 10.
Shoonya vs Alice Blue — Ratings Comparison
| Rating Parameter | Shoonya | 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.
Shoonya & Alice Blue — Comparison of Customer Complaints
| Complaint Metric | Shoonya | 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 Shoonya and Alice Blue.
Shoonya vs Alice Blue — Detailed Comparison of Transaction Charges
| Transaction Charges | Shoonya | Alice Blue |
|---|---|---|
| Equity Delivery | 0.00297% | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Intraday | 0.00297% | 0.00325% (NSE) 0.00375% (BSE) |
| Equity Future | Exchange txn charge: 0.00173% | 0.0019% (NSE & BSE) |
| Equity Option | txn charge: 0.03503% (on premium) | 0.05% (on premium) |
| Commodity Future | MCX: 0.0021% | 0.0026% (Non-Agri) |
| Commodity Option | MCX: 0.0418% | 0.05% (Non Agri) |
| Currency Future | Exchange txn charge: 0.00035% | 0.0009% (NSE) |
| Currency Option | Exchange txn charge: 0.0311% | 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.
Shoonya & Alice Blue — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Shoonya | Alice Blue |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | Rs.15 per Request |
| Pledge Invocation Charges | Rs.15 per Request | |
| Margin Trading Interest | 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.
Shoonya and Alice Blue — Detailed Comparison of Hidden / Other Charges
| Charge | Shoonya | Alice Blue |
|---|---|---|
| SEBI Turnover Charges | ₹10/crore | Rs.10/ Crore (All Segment) |
| DP Charges | Rs 9 + Gst | 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 | Zero | Rs.50 per Trade |
Shoonya lists account opening charges of Free and Demat AMC of Zero. Alice Blue lists account opening charges of Free and Demat AMC of Rs.400 per Year.
Shoonya vs Alice Blue — Detailed Comparison of Demat Charges
| Demat Charges | Shoonya | Alice Blue |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Zero | 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.
Shoonya vs Alice Blue — Comparative Analysis of STT and CTT Charges
| STT & CTT | Shoonya | 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 | 0.02% on the sell side | 0.0125% on sell |
| Equity Option | 0.1% on sell side | 0.0625% on sell (on premium) |
| Commodity Future | 0.01% on sell side | 0.01% on sell (Non-Agri) |
| Commodity Option | 0.05% (of Selling Value) | 0.05% on sell |
| Currency Future | Zero | Nil |
| Currency Option | Zero | 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.
Shoonya and Alice Blue — Comparison of Stamp Duty Charges
| Stamp Duty | Shoonya | Alice Blue |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.015% on buy |
| Equity Intraday | 0.025% on the sell side | 0.003% on buy |
| Equity Future | 0.02% on the sell side | 0.002% on buy |
| Equity Option | 0.1% on sell side | 0.003% on buy |
| Commodity Future | 0.002% or ₹200 / crore on buy side | 0.002% on buy |
| Commodity Option | 0.003% or ₹300 / crore on buy side | 0.003% on buy |
| Currency Future | 0.0001% or ₹10 / crore on buy side | 0.0001% on buy |
| Currency Option | 0.0001% or ₹10 / crore on buy side | 0.0001% on buy |