Anand Rathi vs Axis Direct

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

Anand Rathi
Anand Rathi
Full-Service Broker · since 1994
VS
Axis Direct
Full-Service Broker · since 2006
Axis Direct

Anand Rathi vs Axis Direct — quick verdict

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Company overview

Anand Rathi is a full-service broker incorporated in 1994; Axis Direct is a full-service broker incorporated in 2006.

ParameterAnand RathiAxis Direct
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX · MSEI
Year of incorporation 1994 older 2006
Number of branches 1,200+ 4,800+ wider
Active clients 6 Lakh+ 14 Lakh+ larger

Charges & AMC

Account-opening and maintenance charges for Anand Rathi and Axis Direct compared side by side.

ParameterAnand RathiAxis Direct
Trading a/c opening ₹0 (Online) ₹0 (Online)
Trading a/c AMC ₹0 ₹0
Demat a/c opening ₹0 ₹0
Demat a/c AMC ₹450 + GST per year lower ₹0 (1st Year), ₹750 + GST per year thereafter
DP charges (per ISIN, sell) ₹15.93 per debit transaction (including GST) ₹15.93 per debit transaction (including GST)

Brokerage charges

How Anand Rathi and Axis Direct price each trading segment, per executed order.

ParameterAnand RathiAxis Direct
Equity Delivery 0.30% 0.50%
Equity Intraday 0.03% 0.05%
Equity Futures 0.03% 0.05%
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O 0.03% 0.05%
Commodity F&O 0.03% 0.05%
Call & Trade ₹20 per executed order ₹20 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Anand Rathi and Axis Direct, per segment.

ParameterAnand RathiAxis Direct
Equity Delivery NSE: 0.00297% • BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Intraday NSE: 0.00297% • BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Futures NSE: 0.00173% NSE: 0.00173%
Equity Options NSE: 0.03503% (on premium) NSE: 0.03503% (on premium)
Currency Futures NSE: 0.00035% NSE: 0.00035%
Currency Options NSE: 0.03110% (on premium) NSE: 0.03110% (on premium)
Commodity Futures MCX: 0.00210% MCX: 0.00210%
Commodity Options MCX: 0.04180% (on premium) MCX: 0.04180% (on premium)

Demat & DP charges

Depository (demat) charges for Anand Rathi and Axis Direct — AMC, debit transactions, pledging and remat.

ParameterAnand RathiAxis Direct
Demat Account Opening ₹0 ₹0
Annual Maintenance Charges (AMC) ₹450 + GST per year ₹0 (1st Year), ₹750 + GST per year thereafter
Debit Transaction Charges ₹15.93 per debit transaction (including GST) ₹15.93 per debit transaction (including GST)
Pledge / Unpledge Charges ₹25 + GST per request ₹50 + GST per request
Dematerialisation (Demat) ₹150 per certificate + GST ₹50 per certificate + GST
Rematerialisation (Remat) ₹150 per certificate + GST ₹50 per certificate + GST
Failed Transactions Nil Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by Anand Rathi and Axis Direct.

ParameterAnand RathiAxis Direct
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday VAR + ELM Margin (Up to 5x*) VAR + ELM Margin (Up to 5x*)
Equity Futures SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Equity Options (Buy) Premium Value (Not Applicable) Premium Value (Not Applicable)
Equity Options (Sell) SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Currency Futures & Options SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Commodity Futures & Options SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)

Features & account

Account type and feature availability across Anand Rathi and Axis Direct.

ParameterAnand RathiAxis Direct
3-in-1 account ✕ No ✓ Yes better
Automated / API trading ✓ Yes better ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop Axis Direct Web, Axis Direct Mobile App, Fast Trade
Intraday square-off 3:15 PM 3:15 PM
Other Research Reports, Trading Calls, Advanced Charting, Option Chain, Basket Orders, Price Alerts, eDIS, Margin Trading Facility (MTF), PMS, AIF, Wealth Management Research Recommendations, Smart Edge Reports, Basket Orders, Price Alerts, Advanced Charting, Option Chain, Margin Trading Facility (MTF), Portfolio Tracker, Watchlists

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by Anand Rathi and Axis Direct.

ParameterAnand RathiAxis Direct
Trading platforms offered AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop Axis Direct Web, Axis Direct Mobile App, Fast Trade
Number of platforms 3 3
Platforms (summary) AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop Axis Direct Web, Axis Direct Mobile App, Fast Trade
Mobile / desktop apps Web, Mobile, Desktop Web Trading Platform, Mobile Trading App, Desktop Trading Software

User ratings

User ratings for Anand Rathi and Axis Direct across the key parameters.

Rated onAnand RathiAxis Direct
Fees 4.1 better 4
Brokerage 4.2 better 4.1
Trading platform 4.5 4.6 better
Customer service 4.6 better 4.5
Research 4.8 4.8
Overall 4.4 4.4

Investment options

Which investment products Anand Rathi and Axis Direct let you access.

ParameterAnand RathiAxis Direct
Stocks / Equity ✓ Yes ✓ Yes
Commodity ✓ Yes ✓ Yes
IPO ✓ Yes ✓ Yes
Mutual Funds ✓ Yes ✓ Yes
Bonds / NCD ✓ Yes ✓ Yes

Order types offered

Advanced order types supported by Anand Rathi and Axis Direct.

ParameterAnand RathiAxis Direct
Bracket Order ✓ Yes better ✕ No
Cover Order ✓ Yes better ✕ No
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✕ No ✓ Yes better

Safety & credibility

SEBI registration, financial strength and complaint record for Anand Rathi and Axis Direct.

ParameterAnand RathiAxis Direct
SEBI registration INZ000170832 INZ000250138
NSE member code 09280 12798
Year of incorporation 1994 longer track record 2006
Net worth ₹2,300+ Cr stronger ₹1,639.08 Cr
Exchange memberships NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX · MSEI
Latest complaint ratio 0.003% 0.002% fewer complaints

Complaints record

Exchange complaint data for Anand Rathi and Axis Direct — the ratio matters more than the raw count.

ParameterAnand RathiAxis Direct
Latest financial year 2025–26 2025–26
Exchange NSE NSE
Active clients 6,48,217 14,18,214 larger base
Complaints filed 22 22
Complaint ratio 0.003% 0.002% fewer complaints

Pros & cons

The main advantages and drawbacks of each broker.

Anand Rathi

▲ Pros

  • ✓ Strong equity and commodity research with expert advisory.
  • ✓ Comprehensive wealth management and investment solutions.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, AIFs, and insurance.
  • ✓ Large nationwide branch and relationship manager network.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Personalized investment recommendations for retail and HNI clients.

▼ Cons

  • ✕ Brokerage charges are generally higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Advanced wealth management services are primarily targeted at premium clients.
  • ✕ Call & Trade charges may apply.
  • ✕ Frequent traders may find discount brokers more economical.
Axis Direct

▲ Pros

  • ✓ Backed by Axis Bank, one of India's leading private sector banks.
  • ✓ Convenient 3-in-1 Account for seamless banking and investing.
  • ✓ Comprehensive research reports and expert investment recommendations.
  • ✓ Supports stocks, F&O, commodities, mutual funds, IPOs, ETFs, bonds, and more.
  • ✓ Advanced web and mobile trading platforms.
  • ✓ Strong customer support with a nationwide branch network.

▼ Cons

  • ✕ Brokerage charges are higher than most discount brokers.
  • ✕ Annual Demat AMC is applicable after the introductory period.
  • ✕ Premium research and advisory services may be suited more for long-term investors.
  • ✕ Some brokerage plans vary based on customer profile and relationship.
  • ✕ Call & Trade charges are applicable.
  • ✕ Budget-conscious traders may find discount brokers more economical.
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Compare Axis Direct with

Axis Direct vs Zerodha Axis Direct vs Angel One Axis Direct vs Upstox Axis Direct vs Groww Axis Direct vs ICICI Direct Axis Direct vs Kotak Neo Axis Direct vs HDFC Securities Axis Direct vs SBI Securities Axis Direct vs Motilal Oswal Axis Direct vs Paytm Money Axis Direct vs Mirae Asset Sharekhan Axis Direct vs 5paisa Axis Direct vs Choice Broking Axis Direct vs m.Stock Axis Direct vs Sahi Axis Direct vs FYERS Securities Axis Direct vs SMC Global Axis Direct vs Jainam Broking Limited
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.