Axis Direct is the stockbroking arm of Axis Bank and was established in the year 2005 as a full-service stockbroker. With around 73 branches across India, Axis Direct is one of the evolving stockbrokers in the offline space.
“Axis Direct has an active client base of 4,10,900 for this financial year 2019-20.”
Being a subsidiary of Axis Bank, Axis Direct allows its clients to open a 3 in 1 Demat account which takes away all the hassles of fund transfers.
With this provision, your bank account is integrated directly with your trading account and you, as a beginner, do not need to care about fund transfers manually.
Arun Thukral, CEO & MD – Axis Direct
Axis Direct Trading Platforms
The bank based stockbroker offers multiple options to its clients as far as trading platforms or software are concerned. Based on the user’s preference and trading style, the corresponding platform can be chosen.
In this review, we will touch base on some of the basic aspects of these trading platforms one by one, as shown below:
Axis Direct Swift Trade
Swift Trade is the web-based trading platform from Axis Direct that does not need any download or installs. You just need to access a specific link and start trading.
It provides live streaming quotes with auto-refresh. This is how it looks:
Some of the features of the platform include:
Multiple Market watch
Research ideas and tip available
Screen and dashboard personalization possible
Keyboard shortcuts for quick order placements and other features
Axis Direct is a terminal-based trading platform portal that requires being downloaded and installed on your computer or laptop. This gives complete flexibility and portability for the clients to trade from anywhere.
It comes loaded with the following features:
Search bar for quick discovery of the specifics the client is looking for
Latest news, market reports, information on indices, currency rates etc – all available within the platform
A clutter-free user interface for easier navigation and user
The full-service stockbroker offers research and recommendations at multiple levels.
Thus, whether you are looking for long-term investments or you are in for short-term quick profits, the broker makes sure you get various tips and research through different channels.
To be specific, the broker has done segregation in the type of research into three different levels:
Here users are provided with ideas ranging from intraday trading to long-term investments in the following segments based on technical analysis along with the recommendation type (buy, sell or accumulate):
Mutual fund ideas
Here users get access to detailed research reports across multiple segments covering aspects such as macro and microeconomic news, investment picks, the technical view across segments, disclosures, daily derivatives etc.
Mutual fund reports
Sector & economy reports
The broker provides few tools to clients so that they can perform their own technical or fundamental analysis as listed below:
Overall, Axis Direct provides multiple avenues to its clients for research and analysis with better than average accuracy.
Users are advised to perform their analysis at a parallel level to validate the recommendations provided by Axis Direct but overall the research quality is one of the good ones.
Being a bank based full-service stockbroker, Axis Direct provides the following ways of communication to its clients:
Furthermore, the expectations of its clients are pretty high in terms of turnaround time, response & resolution quality, skills of support executives and so on. Axis Direct, on the other hand, provides decent service as well.
Be it offline assistance through phone or sub-broker branches or online help via a web form, social media or email, the turnaround time is pretty quick with decent resolution quality.
The broker service timings are from 8.45 am to 5.30 pm on weekdays and between 10 am and 1 pm on 1st, 3rd and 5th Saturdays of the week. 2nd and 4th Saturday along with all the Sundays are kept as holidays with no customer assistance.
In a nutshell, the customer service offered by the full-service stockbroker can be relied upon.
Depending on the plan the user opts for and the upfront subscription charges the client is ready to pay for, relevant charges are applied.
Axis Direct Account Opening Charges
Here are the account opening charges in case of Axis Direct:
Trading Account Opening Charges
Demat Account Opening Charges
Trading Account Annual Maintenance Charges
Demat Account Annual Maintenance Charges
As mentioned above, the account opening and maintenance charges levied (₹1650 in total) by Axis Direct are pretty high as compared with the industry standards of somewhere around ₹300 to ₹600. In other words, the broker can be termed as a premium stockbroker with this pricing.
Here are the brokerage charges levied by Axis Direct:
₹100 per lot
₹100 per lot
Like account opening/maintenance costs, the brokerage charges are very high at 0.5% for delivery and 0.05% for intraday. Having said that, the broker has recently scrapped this percentage based brokerage model.
Recently, Axis Direct has introduced an India Trade@20 Plan where the clients of the broker need to pay just a flat fee of ₹20 per executed order. These charges are applicable across the trading segments and there is no percentage based brokerage charges levied on the traders.
In order to avail this India Trade@20 plan, either you need to maintain a minimum balance of ₹75,000 in your Axis Bank or you can just pay a subscription fee of ₹250 per month to keep your brokerage charges at a flat rate of ₹20.
Apart from Account opening charges, AMC and Brokerage, clients of Axis Direct need to pay certain transaction charges:
0.05% of Premium Turnover
0.05% of Premium Turnover
0.05% of Premium Turnover
Axis Direct Margin
With Axis Direct, clients get the following leverage or exposure across different segments:
Upto 10 times for Intraday, 0 for Delivery
Well, if you are looking for high leverage or exposure from Axis, well, in a sense you will be disappointed big time.
With not much exposure offered across segments and just 10 times for intraday, users looking to exploit leverage on top of their trading capital will not have much to use.
Having said that, exposure is a risky concept and must not be used unless you understand the implications and risks associated with it.
Axis Direct Digital Account
When we say Axis Direct Digital Account, it implies the following:
The account opening process is completely online, even the documentation is processed without any manual intervention.
All investments and trades are placed through online tools and software.
The reports, contracts notes are provided within the trading application and/or through emails
The research and tips are provided to the client online
Customer support and assistance is primarily done through online channels as well.
With all the mechanisms and processing done online, it not only saves the time of the client but also provides efficiency in multiple modes.
Axis Direct e Margin
For traders into margin trading, Axis Direct e Margin is a product that has been developed just for them.
With this, you can invest in around 500 stocks by putting up a margin amount of as low as 25% of the total turnover. Axis Direct allows you to carry forward your positions till T + 30 days, else you may choose to square off those positions as well within the same duration.
If in case, the payment is delayed, you are supposed to pay an interest of 18% per annum.
Axis Direct Commodity Trading
If you want to delve into commodity trading, then you are supposed to open a separate commodity trading account with Axis Direct.
Once the formalities are completed, the commodity trading option will be availed to you within the same trading applications as you might have been using for equity trades.
Furthermore, your Demat, as well as the banking account, will be linked with the newly opened commodity trading account.
The broker is associated with MCX and most of the commodities provided by this exchange are allowed to be traded using this account. However, the broker is trying to get a membership on NCDEX soon.
Axis Direct Disadvantages
Here are some of the concerns you need to know about this bank-based full-service stockbroker:
The clients need to pay certain fees for using trading terminal software (web portal and mobile app are free to use)
High account opening and maintenance charges
Not much exposure offered across segments.
“Axis Direct has received a total of 1 complaint this financial year 2019-20 which is 0.01% of their total active client base. Industry average percentage is 0.01%.”
Axis Direct Advantages
At the same time, you will enjoy the following benefits in case you choose to use the services of Axis Direct:
Provides 3 in 1 Demat account to its clients and takes away all the hassles of fund transfers
Powerful and high-performance trading platforms and tools
Flat-rate brokerage charges available now
Good research and recommendations quality
With ‘Funtastic Learning’, Axis Direct offers free seminars, tutorials, webinars etc to users for trading education
Multiple trading and investment products
Axis Direct is a premium stockbroker with hefty charges, be it account-related or brokerage and thus, users with deeper pockets can certainly think of using its services.
Other than that, it provides reasonable customer service and pretty good research. Since it is backed by a bank based stockbroker, so there is a sort of trust factor that organically adds up to its reputation.
Thus, in a way, the broker is suitable for users that are open to paying high charges and are looking for decent research. However, this can also be done by using a discount stockbroker and employing an advisory service whose research can be much more accurate than a broker.
This option will be much lighter to your pocket and may bring higher returns on your investments. Rest is left to the discretion of the user.
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You need to provide a few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Here are some of the most frequently asked questions about Axis Direct as a stockbroker:
Is Axis Direct suitable for beginners?
Yes and No.
The bank based stockbroker is beneficial for beginners in only 1 sense.
If you are looking to have ease of fund transfers then with the 3 in 1 Demat account offered by Axis Direct, life becomes relatively easy. This type of accounts makes the whole fund transfer process automatic.
Having said that, with the advent of payment gateways and mobile wallets, the fund transfer process in general, has become much easier and users don’t really need to depend on a 3 in 1 Demat account.
At the same time, the broker charges very high brokerage charges and thus, in a way creates entry barriers for beginners to start with. If you are a beginner, in general, we don’t recommend Axis Direct to you.
What are the brokerage charges at Axis Direct?
As highlighted above, the brokerage charges are hefty in case of this bank based stockbroker. For instance, the delivery trades are charged at 0.49% which basically implies, for ₹1,00,000 worth of delivery trade, you are required to pay ₹490 as brokerage charge.
In other segments as well, the brokerage charged is reasonably high as compared to conventional full-service stockbrokers.
What is the procedure to transfer stocks from Axis Direct to any other stockbroker?
Transferring stocks from one stockbroker to another has become pretty easy these days. You can obviously choose to use the conventional offline method of providing details in your DIS slip and submitting it to your stockbroker.
But there is an online way as well, where you need to register yourself at the CDSL portal – Easiest and post that you can transfer your shares on your own through an online process.
How is the quality of trading platforms of Axis Direct?
There are multiple trading platforms provided by the full-service stockbroker and the terminal-based software and the mobile app perform pretty decently.
At the same time, with the competition posed by the trading platforms launched by discount brokers recently is giving them a good run for their money.
Yes, the overall performance and user experience of the platforms offered by the broker are good but at the same time, there is a lot of room where these aspects can be improved upon.
What is the benefit of the 3 in 1 Demat account of Axis Direct?
As mentioned above, the only benefit of a 3 in 1 Demat account is the ease of funds transfer.
With this, your trading and bank accounts are integrated together and money from one account can be transferred to another pretty easily. However, this value has been more or less mitigated by the introduction of payment wallets.
Axis Direct Branches
The full-service stockbroker is present in the following locations across different parts of India, as follows:
Also, check out these detailed comparisons of Axis Direct with other stockbrokers: