Anand Rathi vs SBI Securities

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
SBI Securities
Full-Service Broker · since 2006
SBI Securities

Anand Rathi vs SBI Securities — quick verdict

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Company overview

Anand Rathi is a full-service broker incorporated in 1994; SBI Securities is a full-service broker incorporated in 2006.

ParameterAnand RathiSBI Securities
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX
Year of incorporation 1994 older 2006
Number of branches 1,200+ wider 1,000+ SBI Investor Service Centres & Ba
Active clients 6 Lakh+ ~13.7 lakh larger

Charges & AMC

Account-opening and maintenance charges for Anand Rathi and SBI Securities compared side by side.

ParameterAnand RathiSBI Securities
Trading a/c opening ₹0 (Online) ₹0 (Free)
Trading a/c AMC ₹0 ₹0 (Free)
Demat a/c opening ₹0 ₹0 (Free)
Demat a/c AMC ₹450 + GST per year ₹0 (Free for the first year), thereafter as per applicable tariff plan lower
DP charges (per ISIN, sell) ₹15.93 per debit transaction (including GST) ₹15.34 per debit transaction lower

Brokerage charges

How Anand Rathi and SBI Securities price each trading segment, per executed order.

ParameterAnand RathiSBI Securities
Equity Delivery 0.30% 0.50%
Equity Intraday 0.03% 0.05%
Equity Futures 0.03% 0.05%
Equity Options ₹20 per executed order ₹50 per executed order
Currency F&O 0.03% 0.05%
Commodity F&O 0.03% 0.05%
Call & Trade ₹20 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Anand Rathi and SBI Securities, per segment.

ParameterAnand RathiSBI Securities
Equity Delivery NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Intraday NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Futures NSE: 0.00173% NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%)
Equity Options NSE: 0.03503% (on premium) NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%)
Currency Futures NSE: 0.00035% NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%)
Currency Options NSE: 0.03110% (on premium) NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%)
Commodity Futures MCX: 0.00210% MCX ₹260 per Cr (0.00260%)
Commodity Options MCX: 0.04180% (on premium) MCX ₹5,000 per Cr (0.05%)

Demat & DP charges

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

ParameterAnand RathiSBI Securities
Demat Account Opening ₹0 ₹0 (Free)
Annual Maintenance Charges (AMC) ₹450 + GST per year ₹0 (First Year), thereafter as per tariff
Debit Transaction Charges ₹15.93 per debit transaction (including GST) —
Pledge / Unpledge Charges ₹25 + GST per request —
Dematerialisation (Demat) ₹150 per certificate + GST —
Rematerialisation (Remat) ₹150 per certificate + GST —
Failed Transactions Nil Nil
Transaction Charges (Sell) — ₹15.34 per debit transaction
Pledge Creation / Invocation — ₹25 + GST per request
Remat — ₹25 per certificate + applicable charges

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by Anand Rathi and SBI Securities.

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

Features & account

Account type and feature availability across Anand Rathi and SBI Securities.

ParameterAnand RathiSBI Securities
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 SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
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 3-in-1 account, MTF, research reports, IPO investment, mutual funds, ETFs and fixed-income products.

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by Anand Rathi and SBI Securities.

ParameterAnand RathiSBI Securities
Trading platforms offered AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Number of platforms 3 3
Platforms (summary) AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Mobile / desktop apps Web, Mobile, Desktop Web, Mobile, Desktop

User ratings

User ratings for Anand Rathi and SBI Securities across the key parameters.

Rated onAnand RathiSBI Securities
Fees 4.1 4.2 better
Brokerage 4.2 4.2
Trading platform 4.5 better 4.3
Customer service 4.6 better 4.4
Research 4.8 better 4.5
Overall 4.4 better 4.3

Investment options

Which investment products Anand Rathi and SBI Securities let you access.

ParameterAnand RathiSBI Securities
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 SBI Securities.

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

Safety & credibility

SEBI registration, financial strength and complaint record for Anand Rathi and SBI Securities.

ParameterAnand RathiSBI Securities
SEBI registration INZ000170832 INZ000200032
NSE member code 09280 13018
Year of incorporation 1994 longer track record 2006
Net worth ₹2,300+ Cr stronger ₹1,000+ Cr
Exchange memberships NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX
Latest complaint ratio 0.003% fewer complaints 0.088%

Complaints record

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

ParameterAnand RathiSBI Securities
Latest financial year 2025–26 2025-26
Exchange NSE NSE
Active clients 6,48,217 13,69,945 larger base
Complaints filed 22 1,208
Complaint ratio 0.003% fewer complaints 0.088%

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.
SBI Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with SBI Bank.
  • ✓ Trusted SBI Group full-service broker.
  • ✓ Comprehensive equity research and investment recommendations.
  • ✓ Trade in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Advanced web and mobile trading platforms.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Wide branch network and customer support.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Demat AMC may apply after the promotional period.
  • ✕ Call & Trade service is chargeable.
  • ✕ Advanced trading tools are limited compared to some competitors.
  • ✕ Certain services and brokerage plans have eligibility conditions.
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Compare SBI Securities with

SBI Securities vs Zerodha SBI Securities vs Angel One SBI Securities vs Upstox SBI Securities vs Groww SBI Securities vs ICICI Direct SBI Securities vs Kotak Neo SBI Securities vs HDFC Securities SBI Securities vs Motilal Oswal SBI Securities vs Paytm Money SBI Securities vs Mirae Asset Sharekhan SBI Securities vs Axis Direct SBI Securities vs 5paisa SBI Securities vs Choice Broking SBI Securities vs m.Stock SBI Securities vs Sahi SBI Securities vs FYERS Securities SBI Securities vs SMC Global SBI Securities 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.