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Profitmart is an emerging stockbroking company in India among the full-service broking cohort. It was incorporated back in the year 2010 as a full-service stockbroker and helps its clients to find better ways to invest.
The broker is headed by a strong co-founding team that works in multiple aspects of the business.
It works in 3 directions specifically i.e. Product, Technology and Support. Within these areas, there are multiple offerings provided by the broker and in this detailed review, we are going to take a look at all of these individually.
Here is a quick overview:
Profitmart provides diversified investment options in:
- Currency Trading,
- Commodity Trading,
- Mutual funds and
- Real estate.
The company supports the investment decisions of the investors with effective research, advanced investing tools and efficient trading software.
Profitmart essentially works as a franchise broking business, with sub-brokers. It has local camps and bases in the form of franchises to increase its local visibility and add on to its client base. It provides active support to its sub-brokers in client acquisition, product training and business development.
In case you are interested, feel free to check this detailed review on Profitmart franchise.
Overall, Profitmart is a professionally managed broking house, with innovative products, cutting-edge technology and personalised service to its clients. The broker has also been awarded The Fastest Growing Broker of the Year Award for the year 2016-17 by MCX.
Profitmart Active Clients
Profitmart reported 16,324 active clients as of 2020-21.
The clients include individuals, corporates and institutions, with a large number of high net-worth individuals and non-resident Indians.
With this number of clients, this stockbroker can be seen as one of the smaller stockbrokers in the country. To get a perspective, you can check out Top Stock Brokers in India with Active Clients.
Profitmart Products & Services
The products and services of this full-service stockbroker include trading in equities with the best of technology, research, access and ease. It helps its clients by helping them make the correct decision as to when, where and how to invest. Profitmart provides both offline and online reach and delivery model for equity trading.
The broker also facilitates its clients in commodities trading through its own research and knowledge. It provides a user-friendly online trading platform for commodity sectors like bullion, base metals, energy and agriculture.
The other services include wealth management. The company helps the clients put all the pieces together and form their individual financial picture.
Profitmart also delivers depository services to its clients for safe, paperless and cost-effective transactions. Another exciting service is the Stock SIP. It helps the clients to save regularly and effortlessly, on a recurring basis.
You can check this detailed review in Hindi as well.
Profitmart has an in-house research wing. The team carries out its own in-depth research and advise the clients accordingly.
The company claims to have about 70%-80% hit ratio. The research is summed as Smart Levels and includes Equity Pivot and Commodity Pivot.
The other reports generated by Profitmart research include:
- Fundamental Reports,
- Research Reports,
- IPO reports,
- Stock Reviews and
- Company reports.
The reports and research serve as effective online education modules and provide guidance to investors.
Profitmart Trading Platforms
The full-service stockbroker provides a reasonable range of trading applications to its clients across devices, as discussed below:
NEST Trading Platform
Profitmart provides the best in the industry NEST Trading Platform and NEST Trader Plus. All the necessary servers are placed at multiple data centres, which help in bringing super-fast, real-time rates and supreme data security.
Nest Trading Software is one of the most powerful software with a customisable interface, multi-monitor support and advanced charting. The software is designed with speed and low latency in mind and it remains stable even at high loads.
Some of the features of the Nest Trading platform are:
- Multiple market watchlists
- Check Live Order status
- Personalization and Customization at different feature levels
- Different charts and drawing tools available for analysis
At the same time, a couple of concerns about this application you must be aware of are:
- Connectivity Issues
- Average User-experience
ProfitMart Mobile Trading Application
The mobile trading application of Profitmart is user-friendly and can be used to invest or trade in equities, derivatives, commodities and currency. It helps the clients to trade, track, review and restructures their portfolios anytime anywhere.
The application can be used to view the transaction reports, along with getting live updates on movements in the markets, live news and alerts. Although, the users find the application quite slow to use.
Some of the features of this mobile app from Profitmart are:
- Order book, trade book provisions available
- Charting analysis features
- Index details across segments
Here are some of the stats of this mobile app from Google Play Store:
Profitmart Customer Care
Profitmart delivers personalised support to its customers. The clients can get in touch with the brokers through
- Emails or
- Offline branches (18 in total)
The head-office of Profitmart is in Mumbai but it has a presence in around 20 locations across the country (check Branches section below for more information).
The broker claims to provide a personalised relationship manager to its clients. However, at the ground level, the broker provides a limited number of communication channels (almost no usage of digital channels) while providing an average quality customer care overall.
Pricing is one of the most important aspects before you finalize a stockbroker for yourself. In the case of this stockbroker, here are the pricing details related to the trading and Demat account:
- The account opening for the trading account is free.
- For a Demat account, the account opening fee is Rs 999, which includes account maintenance charges for the lifetime.
- The traders are also allowed to use only the software provided by the broker and trade on their own, or they can use the advisory services of Profitmart through their dealing desk and the relationship managers.
Here is a quick summary:
Here are the details on the brokerage charges you will end up paying to Profitmart when you trade in the stock market through this broker:
- The brokerage is 0.01% for intraday trading and 0.1% for delivery trading.
- For options, the brokerage is Rs 15 per transaction per leg.
From a full-service stockbroking perspective, the brokerage values are pretty reasonable in nature. However, speaking from a generic perspective, the brokerage monetary value will increase with an increase in your overall trading turnover.
We suggest you have further negotiation on these charges to improve your profits.
Check this Profitmart Brokerage Calculator for more details on all the charges and taxes you will pay on your trades.
If you are looking for exposure or limit on your trades, then you can use the below-mentioned values across the trading segments:
- The exposure provided for intraday trading is up to 20 times.
- The margin for delivery trading is up to 2 times and up to 5 times for futures.
- The margin is not rigid and it can be increased based on the need and the usage of the clients.
Here is a quick summary of the Profitmart margin you can avail:
As you can see, the margin values offered across the segments are not that exciting and thus, you need to be wary of this fact before choosing this stockbroker for your trading requirements.
Some of the benefits of using the services are:
- The technological infrastructure provided is sophisticated, secured and advanced.
- A single platform can be used for trading in equity, currency, commodities, futures & options.
- The brokerage and pricing are among the most reasonable in the full-service stockbroking industry and it is customisable according to the clients’ needs.
- The broker offers a ‘Refer and Earn’ plan where you get a 20% cut from the brokerage generated by the clients referred by you.
- In selected Commodities such as Agri, Gold and Silver, you can take delivery in Commodity trading.
Few concerns you must be aware of if you are looking to open your Demat account with this stockbroker:
- The presence of the company through its own branches is limited, although it has a lot of franchises.
In case you are looking to get started with share market trading or investments in general, let us assist you in taking your next steps forward:
Profitmart Membership Information
Here are details on the membership of Profitmart with different regulatory bodies of the stockbroking space in India:
The head office of this full-service stockbroker is located in Mumbai. The other branches are located at Pune, Nashik, New Delhi, Chennai, Hyderabad, Ahmedabad, Kolkata, Kolhapur, Ichalkaranji, Bengaluru, Siliguri, Guwahati, Raniganj, Patna, Kolkata, Surat and Baripada.
If you wish to learn more about this full-service stockbroker, here are a few references for you:
Lastly, for some reason, if you are looking to close Profitmart Demat Account, here is the Profitmart Account Closure Form for your reference.