Punch Trade Review – Brokerage Charges, Platforms & Features

Punch Trade, operating under the legal entity Market Pulse Securities Pvt. Ltd., is a Mumbai-based discount stockbroker incorporated in 2021. Regulated by the Securities and Exchange Board of India (SEBI) under registration number INZ000300936, the broker holds active memberships on both the National Stock Exchange (NSE: 90253) and the Bombay Stock Exchange (BSE: 6845), with depository services facilitated through CDSL (DP Registration: IN-DP-686-2022).

Founded by a technology and finance-driven team — Amit Dhakad (CEO/CTO), Hiral Jain (CFO), Arshad Fahoum, and Ajit Dandekar — Punch Trade has raised $10 million in seed funding from reputed institutional investors including Stellaris Venture Partners, SIG, Prime Venture Partners, and Innoven Capital. The platform has also attracted backing from prominent angel investors such as Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara), signaling strong confidence from India’s startup ecosystem.

Punch Trade’s core appeal lies in its aggressive pricing: a flat ₹1 per executed order (or 0.10% of trade value, whichever is lower) across Equity Delivery, Intraday, Futures, and Options — with zero account opening fees and no lifetime Demat AMC. Trading is currently available on NSE and BSE, supported by a well-rated Android app (4.4 stars on Google Play) and a web-based platform, while an iOS app remains under development.

With a lean team of around 50 employees, Punch Trade is a notable new entrant positioning itself as a tech-first alternative to established discount brokers in India’s competitive retail trading landscape.

Broker Overview & Registration Details

Punch Trade is the retail trading brand of Market Pulse Securities Pvt. Ltd., incorporated in February 2021 and headquartered in Mumbai, Maharashtra. It operates as a technology-first discount broker on NSE and BSE, with its depository services powered by CDSL. All regulatory identifiers listed below are as disclosed on the company’s official platforms and SEBI records.

Brokerage Charges

Punch Trade applies a single, unified flat-fee model across all supported equity segments. At ₹1 per executed order (or 0.10%, whichever is lower), the pricing is among the most competitive in India’s discount broker landscape. Currency and commodity segments are not offered.

Effective cost including 18% GST = ₹1.18 per executed order. The ₹1-or-0.10% rule applies to both buy and sell legs separately.

Account Opening Costs

Punch Trade offers zero-cost account opening for both a standalone trading account and a combined trading-plus-demat account. There is no commodity account as that segment is not supported.

Transparency & Other Charges

Beyond brokerage, traders pay statutory turnover charges (STT, exchange transaction charges) and select platform-specific fees. The table below summarises every disclosed charge, including zero-cost items, to enable accurate total-cost-of-trading calculations.

Trading Platforms

Punch Trade’s primary trading interface is its web-based trading app, which also serves as the desktop platform. An Android app is live and well-rated; an iOS app is in active development. API trading and a native desktop client are not currently available.

Charting Capabilities

Punch Trade’s in-house charting engine is one of its standout features, offering advanced Smart Money Concept indicators — such as Fair Value Gaps (FVG), Break of Structure (BOS), and Change of Character (ChoCh) — natively within the platform. This makes it a notable option for institutional-style retail traders.

Reporting

All core reporting needs are met digitally — trade reports, trade-wise P&L, and contract notes are available online with no requirement for physical documents.

Margins & Leverage

Punch Trade provides up to 5x intraday leverage for equity segments. Futures and options intraday are capped at 1x (exchange-mandated margin), and delivery trades carry no leverage. Currency and commodity are not applicable.

Trading Tools & Features

Punch Trade includes several differentiated tools — particularly the Scalper Joystick for rapid order entry, Protection Orders (default-on SL/TP), and an Option Chain with Greeks. A community feature-voting platform (Builder’s Lab) allows users to directly influence product development. Research, tips, and a brokerage calculator are listed as coming soon.

Convenience Features

Punch Trade is currently focused on core equity trading and does not yet offer mutual funds, IPO applications, or bond investing. Fund withdrawals settle same-day via exchange settlement — there is no instant withdrawal option.

Financial Health & Performance Metrics

Punch Trade raised $10 million in seed funding from institutional investors including Stellaris Venture Partners, SIG, Prime Venture Partners, and Innoven Capital. Notable angel investors from India’s startup ecosystem have backed the company. With a team of 50, the broker publishes live operational metrics on its public status page.

Performance Metrics

Support Channels

Punch Trade provides dedicated contact points for account opening, trading support, compliance, and grievance redressal.

Summary & Final Assessment

Based on disclosed data, Punch Trade presents a focused offering for equity traders on NSE and BSE. Its ₹1 flat brokerage per executed order — covering Delivery, Intraday, Futures, and Options — keeps trading costs predictable, especially for high-frequency and intraday participants. Zero account opening charges and no lifetime Demat AMC further simplify the cost structure, with main recurring fees limited to statutory turnover charges and a CDSL DP transaction fee of ₹3.50 + GST per delivery sell.

The in-house charting engine is a standout, offering native Smart Money Concept indicators — including Fair Value Gaps (FVG), Break of Structure (BOS), and Change of Character (ChoCh) — alongside 8 simultaneous chart layouts, direct chart trading, and CE/PE premium plotting. The Android app holds a 4.4-star rating, though the absence of an iOS app remains a notable gap. Differentiated tools such as the Scalper Joystick, Protection Orders, and a live Greeks Option Chain add meaningful value for active traders. However, Bracket Orders, Cover Orders, GTT, AMO Orders, a Margin Calculator, and Education resources are currently unavailable.

Financially, the $10M seed round from credible institutional backers reflects early-stage confidence. Company-reported metrics — 0.01-second execution and 99.999% uptime — indicate technology investment, though these should be weighed against real-world experience. Mutual funds, IPOs, bonds, and commodity or currency segments are not offered.

In summary, Punch Trade suits active equity traders prioritising low per-order costs and advanced charting. Investors seeking a broader investment platform will need to look elsewhere. Always verify SEBI registration and assess personal trading needs before opening an account.

Frequently Asked Questions

Important Disclaimer: The information on this page is sourced from official regulatory disclosures and data provided by Market Pulse Securities Pvt. Ltd. (Punch Trade). It is intended for informational and comparison purposes only, and does not constitute investment advice or a recommendation to open an account. Stock market investments are subject to market risk. Please verify all regulatory credentials on sebi.gov.in and read all scheme-related documents before investing.