FREE Account Opening + Zero AMC Fees* + MutualFund SIP1

Alice Blue Review 2023

Rated 4/5 by InvestorGain Team
Last updated on: 22-Nov-2023
Alice Blue Review
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Alice Blue Review 2023 - Quick Summary

Trade at the lowest brokerage charges on the best platforms! Alice Blue Account offers Rs. 0 delivery trading, Max Rs. 15/order brokerage, free direct mutual fund investment, Tech-driven ANT Trading Platform, excellent customer service, and a plethora of learning resources for beginners.

Alice Blue Top Highlight for 2023

  • 15+ years of experience and trust in the brokerage space since 2006.
  • 0 brokerage on delivery trades (CNC, cash n carry).
  • Alice Blue Freedom 15 Brokerage model charges Rs. 15 flat brokerages on intraday and F&O trades.
  • 100% online and paperless account opening process.
  • Invest in IPO & direct mutual funds for free.
  • Technology-driven ANT Mobi mobile trading app, and ANT Web platform.
  • Get free ANT Plus API at zero cost for lifetime.
  • Access to the 3rd party online trading tools at the Alice Blue Trade Store.

About Alice Blue

Alice Blue, a Bangalore/Erode (Tamil Nadu) -based discount broker is a registered member of BSE, NSE, MCX, and NCDEX to offer equity trading, derivatives trading, commodity trading, and currency trading services. Residents can open an integrated Alice Blue Trading & Demat Account and start online trading across segments.

Alice Blue is one of the well-known and popular discount brokers due to the cheapest brokerage online trading services. Its Freedom 15 (F15) brokerage plan is a flat discount brokerage plan that charges Rs. 0 per order for equity delivery segment and Max Rs. 15 per order brokerage on intraday and F&O trades irrespective of the trade volume.

When it comes to technology, it has an ultra-fast and ultra-speed ANT (Analyst N Trade) flagship trading platform available as ANT Mobi App, and a browser-enabled ANT Web platform. A smart and easy-to-use interface together with powerful charting, and lots of indicators provides a world-class trading experience to traders as well as investors. The broker also provides access to the proprietary and 3rd party online trading tools on the “Trade Store”.

The discount broker not just offers online customer support but also offline (branch-based) customer care. Let’s check the detailed review about Alice Blue Review 2023 including account opening charges, process, brokerage charges, trading platforms, customer care, and more.

Alice Blue Promotion Offer

Current promotion offere from Prostocks for InvestorGain Visitors:

  • Lifetime Zero Demat AMC Account
  • Free delivery Trading
  • Rs. 15 flat brokerage charges.
  • Unlimited Trading at Rs. 0 brokerage with monthly plans.
Open Instant ProStocks Account Now!

Current promotion offer from Alice Blue for InvestorGain

Request call back from Alice Blue

Alice Blue Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 4.5/5

Alice Blue is a value-driven broker that offers the lowest brokerage online trading service. Alice Blue Freedom 15 Flat Brokerage Model has a simple pricing structure that charges Rs. 0 brokerage on investment in stocks and charges Rs. 15/order flat brokerage.

Alice Blue Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Rs 400 PA

Alice Blue Brokerage Plan with closest competitors

Here we are comparing Alice Blue with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Alice Blue 5paisa Zerodha Upstox Paytm Money
Service Type Discount Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 15 Rs 20 Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery Free Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 20 whichever is lower
Equity Intraday 0.05% or Rs 15 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower
Equity Futures 0.05% or Rs 15 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Flat Fee Rs 15 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity Flat Fee Rs 15 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures 0.05% or Rs 15 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Flat Fee Rs 15 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA

Other Charges

  • Call & Trade Charges: Rs 50 per order + GST
  • RMS Auto Square Off Charges: Rs 50 per order + GST
  • Hidden Charges: No

For complete brokerage charges and trading plans detail please visit Alice Blue Brokerage Charges.

Please refer unique and accurate Alice Blue Brokerage Calculator

Type of Account offered by Alice Blue

Alice Blue offers an integrated Demat + Trading account opening facility to resident customers. Alice Blue 2-in-1 account facilitates online trading in equity intraday, delivery, futures & options, commodity, and currency segments.

Alice Blue Demat & Trading Account

  • Alice Blue is a depository participant with CDSL to offer a free Demat account opening facility to clients. The Demat & trading account with Alice Blue is opened together to offer seamless trading & investing journey in different segments. Alice Blue offers a Single Margin Account for equity, currency, and commodity trading account.
  • There are 3 ways to open Alice Blue 2-in-1 Account; instant account opening via Aadhaar e-sign, visit Alice Blue branches or open offline account via submitting a duly filled account opening form.

Alice Blue Mutual Fund Account

  • Alice Blue Demat Account holders will have direct access to the free Alice Blue Mutual Fund Account. The broker offers commission-free investment in direct mutual funds at zero brokerage. You can buy SIPs or invest lumpsum in your favorite mutual fund scheme across equity, debt, hybrid, and ELSS category. Investment in direct funds helps you to save lakhs of commission and build long-term wealth.

How to open Alice Blue Account online?

Open a Free Demat Account Instantly with Alice Blue at zero charges and start trading in equity intraday, derivatives, commodities, and currencies segment at Rs. 15 per order flat brokerage fee. Open Alice Blue Account in a 100% digital and paperless manner, and activate it within 24 hours.

Steps to open Alice Blue Trading & Demat Account online;

  1. Head to the Alice Blue official website.
  2. Click on the “Open Free Demat Account” option
  3. Register/Sign-up: Enter your name, email, mobile number, state, and click on the “Open an Account” option” button.
  4. Enter PAN number and DOB as per PAN for PAN KRA verification.
  5. Select the products you want to trade-in.
  6. Enter address details and bank account details (IFSC code and account number).
  7. Enter your personal and financial details.
  8. Upload scanned documents; passport size photo, signature, bank proof, and income proof.
  9. Complete In-person verification (IPV) by showing your PAN towards the camera along with your face.
  10. E-sign the account opening form by verifying aadhaar details registered with your mobile number.

Note: If your account does not get activated within 24 hours then drop a mail on [email protected].

Open Instant and Online account with AliceBlue in 15 mins.

Alternatives to Alice Blue

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 Demat Account
 Demat Account
 Demat Account

Alice Blue Mobile App and Trading Platforms

Trading Platforms Rated 4/5

ANT (Analyse N Trade) online trading platform, built by TradeLab and Omnesys Nest as a backend (Risk Management System and Order Management System), is a free platform provided in the form of a mobile trading app, and a trading website.

Alice Blue ANT Mobi 2.O [Mobile App]

  • Alice Blue has recently launched its updated version of the trading app ANT MOBI 2.O, which offers you a simple and fast trading experience. In this trading app, you get an advanced customizable dashboard, fast money transfer, predefined baskets and basket orders, technical indicators and tools, easy search for option contracts, bullet-in and news, market depth and many more facilities are provided by this app. This trading app is designed to enhance the features and help the clients to increase their profits and manage their portfolios according to their desired strategies.

Alice Blue ANT Web

  • Alice Blue has a simple, ultra-fast, and easy-to-understand web trading platform that can be accessed via any supported browser on your phone, desktop, or laptop. Single-click order placement, 5 market depth, in-built option chain, 20+ charts, ChartIQ and TradingView charting libraries, 100+ advanced indicators, 20+ drawing tools, and comprehensive scrip details cater to every traders and investor requirement.

Alice Blue ANT Plus API

  • Kickstart a hassle-free trading platform development journey with free Alice Blue ANT Plus API. Alice Blue API supports languages like Python, Json, and Javascript to create your frontend algo trading platform to execute real-time orders, obtain live market feeds, manage a portfolio, and much more.

Alice Blue BOT [Back-office]

  • BOT in Alice Blue is the Next Gen back-office app that can be accessed via login to your Alice Blue account. BOT is an all-in-one portfolio for your Alice Blue Account that provides complete analytics of your portfolio. You can apply for quarterly settlement, margin trading facility, place an exposure request, and check the overall portfolio.

Alice Blue Mutual Fund App

  • Alice Blue has a dedicated mutual fund ordering platform, Alice Blue Mutual Fund App to buy direct mutual funds online at zero commission or brokerage. Alice Blue Demat Account is a single account to store stocks and mutual funds together in one place. Anyone who has opened Alice Blue Demat Account can start SIP or lumpsum in their preferred scheme.

For detail review of mobile app and download please visit Alice Blue Trading Platform Review.

Alice Blue Trading Pros

  • Trade on BSE, NSE, and MCX at Rs. 15 flat brokerages.
  • Zero brokerage or commission-free investment in direct mutual funds.
  • Lifetime zero brokerage delivery trading.
  • Powerful charting, lots of technical indicators, and stock screeners.
  • Alice Blue Tradestore, a marketplace for advanced trading products.
  • Alice Blue offers free ANT API access for the Algo trading facility.
  • Advanced orders such as bracket order (BO), cover order (CO), and after market order (AMO).
  • Pledge shares without POA.
  • Alice Blue Trade School, a stock market education platform for beginners to experts.
  • Plethora of learning resources for beginners; Tradeschool, Aspiring Investor Program, and ANT IQ Blog.
  • Become a Partner with Alice Blue to Earn, Scale, and Grow your business.
  • TradeLink, a free online tool to share your trading ideas.
  • Alice Blue refer & earn program provides 2-sided benefits to both referral and referee.
  • Strong PAN India presence in 20 cities with over 12,000 partners.
  • No minimum brokerage.

Alice Blue Trading Cons

  • A 3-in-1 account opening facility is unavailable.
  • It does not offer zero brokerage unlimited monthly trading plans.
  • Alice Blue does not provide NRI trading services.
  • You cannot place Good Till Canceled (GTC) order in Alice Blue.
  • High Demat AMC charges.
  • Alice Blue Mutual Fund App is not available on the App Store.

Alice Blue Customer Care info

Online customer assistance is offered via customer care email, helpline number, raising a ticket, and also provides PAN India multi-lingual branch-based support. The broker has 17+ branches and 1000+ franchise and sub-broker offices across the country. Alice Blue has a decentralized customer support service for every product or service i.e., account opening, dealing, centralized dealing desk, franchisee support, API-related support, partner account activation, and more.

Final thought about Alice Blue

Rated 4/5 by 20 users

Enjoy the Best Online Trading Experience with the Best Stock Broker in India. Alice Blue zero brokerage delivery trading, Rs. 15 flat discount brokerage plan, and user-friendly & feature-rich ANT flagship trading platform make it an excellent choice for investors to pro-level traders. Not just that, commission-free investment in direct mutual funds, stock market education, and learning resources on Trade School, ANT IQ Blog, and the Aspiring Investor program make Alice Blue a great broker for beginners.

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Last updated on: 2023-11-22

Alice Blue User Reviews

87. Ram Jan 31 2023 04:58:14 PM Reply
Worst broker and don''t go with Alice Blue. Sometimes technology fails suddenly and you will not able to login to portal and during that time customer service also will not work. they are irresposible. they are hidden charges, if you not verify contract note or ledger for your trades, you will loose money by hidden charges.
86. Sajid Ahmad Jul 26 2022 04:29:00 AM Reply
Horrible customer service, specially Priyanka I spoke multiple times, she doesn''t know how to speak to customer. Soon I''m going to close the account and write my review to all social media. I had worked with other brokers but never face any problem like this.


Brokerage - Average
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
85. Akshita Sahai Jan 27 2022 06:11:20 AM Reply
Reports on mobile app not available
Portfolio analysis and PL script wise not available on mobile.
Transactions history not available on ANT mobile


Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Very Poor
Customer Service - Below Average
Overall Experience - Below Average
84. RAVI Oct 11 2021 09:41:18 AM Reply
Antweb trading platform gives problem every now and then. One has to keep waiting when the platform will start working. one has to wait even more than one day. Their claim of lowest brokerage is bogus. Aliceblue fraudulently charges Clearing Member Charges which is about 60% of Brokerage. Most other Brokers are clearing members themselves and do not charge for that.


Brokerage - Below Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Customer Service - Below Average
Overall Experience - Below Average
83. Manojkumar PV Feb 11 2021 07:25:37 PM Reply
I am Manoj Kumar PV, I have an account in Alice Blue. I like to trade Alice Robotic Trade.. I have so many doubts about it. My language is Malayalam, nobody support this language in Kerala.

It is a very shameful thing...
82. VIKRAM UJJAINKAR Jan 01 2021 07:47:28 AM Reply
Alice Blue good broker Always try to provide best service to customer


Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Above Average
Customer Service - Above Average
Overall Experience - Above Average
81. Bharat Dec 15 2020 10:13:42 AM Reply
They jointly cheated me of Rs. 2000/- by making me wrongly pay for TRADEX Algo subscription.
Immediately after payment I realised that Tradex is not what I wanted and asked for refund. But no reply from both companies - Alice Blue and Trade - until now.
I have been following up for almost two months now and still the refund has not come.
80. Bharat Dec 05 2020 06:00:47 PM Reply
Alice blue is not giving API keys as promised, no customer service whatsoever
79. Dinesh Aug 27 2020 06:04:50 AM Reply
Very very worst broker. Never open account with this third class broker.


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
78. Jegadeesh Aug 05 2020 09:43:28 AM Reply
Its much better than Zerotha, especially the customer care..


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent