Firstock has been gaining attention as a new discount broker in India which aims to combine low-cost pricing with advanced trading tools. Firstock offers a gateway to investing in India, one of the world’s fastest-growing economies. With zero-commission and flat fees, Firstock is providing a cost-effective platform for investors who wish to access the Indian market. This review looks at its key advantages, drawbacks, usability, and pricing.
Key terms:
Discount Broker: A discount broker is a stockbroker that offers low-cost trading services by focusing mainly on executing buy and sell orders online, without offering full-service extras like research, personal investment advice, or relationship managers.
Equities Delivery means buying shares and holding them in an account without same-day selling. “Delivery” in this context means the trade is settled and delivered to you, and you can hold the shares as long as you want.
Intraday Equities: Intraday equities trading refers to buying and selling shares of a company within the same trading day, e.g. buying at 9:30am and selling later that morning at 11:45am.
Advantages: What Firstock Does Well
- Access to India: Firstock accommodates international investors, including Australian, British, United States and EU citizens, through its NRI (Non-Resident Indian) account services.
- Zero Commission Equities Delivery: One of the biggest advantages of Firstock is that buying stocks and holding them beyond the same trading day is offered at zero commission (also called “zero brokerage”). For long-term investors, this removes much of the per-trade cost, helping ensure returns aren’t eroded by frequent small charges.
- Straightforward pricing for intraday equities and derivatives: For intraday equities and derivatives (futures & options), Firstock charges a flat ₹20 (USD $0.23) per executed order or 0.03%, whichever is lower. This is especially advantages where futures & options contracts are large, because the brokerage charge is essentially capped at ₹20 (USD $0.23) per order, regardless of how large the contract value is.
- Modern user interface and tools: Firstock’s mobile app and web interface are promoted as designed for both novices and sophisticated users, and includes features such as advanced charting (via TradingView), real-time alerts, and watchlists.
- Support for algorithmic / API trading: For more advanced users, Firstock supports API integration (algo trading) allowing connection with external trading systems. If investors are using automation, this is a useful capability many low-cost brokers neglect.
- No minimum deposits and low charges: There are no account opening charges, no minimum deposit, and zero commission.
Disadvantages of Firstock:
- Stability: While many users praise it, there are also some negative reviews citing performance issues and login delays. When under particularly heavy market load, software issues may become a concern.
- Limited non-equity / niche asset support: While Firstock supports equities trading, derivatives, mutual funds, and ETFs, it doesn’t support some other types of investment such as commodities.
- Relatively new and less established: Firstock is not as deeply tested (in the public domain) as some older brokers.
- Customer support, scalability and reliability: Because it’s newer, scaling support under high load or during market stress could potentially become a weakness.
Key term:
Statutory Charges means fees and taxes that are legally required by the government, exchanges, or regulators.
Pricing & Economics:
- Account opening / maintenance: No charge.
- Minimum deposit: None.
- Zero commission: Although this is great for those wishing to buy and hold shares, it should be noted that even when there’s no commission charged, there may still be Statutory Charges that every broker must collect and pass on. For example, the SEBI (Securities and Exchange Board of India) imposes small charges on all trades (based on the total trade value, rather than the number of trades), and 18% GST (Goods & Services Tax) applies on brokerage + transaction charges combined. Even when brokerage charges are zero, GST still applies on the transaction charges.
- Intraday Equity: ₹20 or 0.03% (whichever is lower).
- Futures & Options: ₹20 or 0.03% per executed order (whichever is lower).
- Call and Trade: Firstock charges a fee of ₹50 (USD $0.56) + GST per executed order when trades are placed through their Call and Trade facility. This service allows clients to place orders by contacting Firstock’s dealing desk directly. This fee is per order, not per minute, and is in addition to any applicable brokerage and statutory charges.
Conclusion
Firstock is a strong contender in the Indian discount brokerage space, providing access to Indian financial markets. It’s especially attractive to investors and traders who value low costs and modern trading tools. Its zero-commission equities delivery, combined with flat fees on intraday trades and futures & options, makes it a compelling choice for cost-conscious market participants worldwide.
However, Firstock is not without risk. As it’s relatively new, stability under load and support responsiveness are things to monitor. Before fully migrating or committing large capital, a possible approach might be to test it with smaller trades and do so during different market conditions. This is especially possible with Firstock, given that there’s no minimum deposit.
Disclaimer: The purpose of this website is education and financial journalism. It is not a recommendation or personalized financial advice. Your personal circumstances have not been taken into account, and this website is not a substitute for consulting a qualified financial advisor. Past performance is not indicative of future returns.