Axis Direct vs SBI Securities

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

Axis Direct
Axis Direct
Full-Service Broker · since 2006
VS
SBI Securities
Full-Service Broker · since 2006
SBI Securities

Axis Direct vs SBI Securities — quick verdict

Choose Axis Direct if

You want research and offline support

Invest Right. Invest Now.

Choose SBI Securities if

You want research and offline support

Investing Made Easy.

Company overview

Axis Direct is a full-service broker incorporated in 2006; SBI Securities is a full-service broker incorporated in 2006.

ParameterAxis DirectSBI Securities
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX · MSEI NSE · BSE · MCX
Year of incorporation 2006 2006
Number of branches 4,800+ wider 1,000+ SBI Investor Service Centres & Ba
Active clients 14 Lakh+ larger ~13.7 lakh

Charges & AMC

Account-opening and maintenance charges for Axis Direct and SBI Securities compared side by side.

ParameterAxis DirectSBI 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 ₹0 (1st Year), ₹750 + GST per year thereafter ₹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 Axis Direct and SBI Securities price each trading segment, per executed order.

ParameterAxis DirectSBI Securities
Equity Delivery 0.50% 0.50%
Equity Intraday 0.05% 0.05%
Equity Futures 0.05% 0.05%
Equity Options ₹20 per executed order ₹50 per executed order
Currency F&O 0.05% 0.05%
Commodity F&O 0.05% 0.05%
Call & Trade ₹20 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Axis Direct and SBI Securities, per segment.

ParameterAxis DirectSBI 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 Axis Direct and SBI Securities — AMC, debit transactions, pledging and remat.

ParameterAxis DirectSBI Securities
Demat Account Opening ₹0 ₹0 (Free)
Annual Maintenance Charges (AMC) ₹0 (1st Year), ₹750 + GST per year thereafter ₹0 (First Year), thereafter as per tariff
Debit Transaction Charges ₹15.93 per debit transaction (including GST) —
Pledge / Unpledge Charges ₹50 + GST per request —
Dematerialisation (Demat) ₹50 per certificate + GST —
Rematerialisation (Remat) ₹50 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 Axis Direct and SBI Securities.

ParameterAxis DirectSBI 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 (Sell) Premium Value (Not Applicable) —
Currency Futures & Options 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 Axis Direct and SBI Securities.

ParameterAxis DirectSBI Securities
3-in-1 account ✓ Yes ✓ Yes
Automated / API trading ✕ No ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms Axis Direct Web, Axis Direct Mobile App, Fast Trade SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Intraday square-off 3:15 PM 3:15 PM
Other Research Recommendations, Smart Edge Reports, Basket Orders, Price Alerts, Advanced Charting, Option Chain, Margin Trading Facility (MTF), Portfolio Tracker, Watchlists 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 Axis Direct and SBI Securities.

ParameterAxis DirectSBI Securities
Trading platforms offered Axis Direct Web, Axis Direct Mobile App, Fast Trade SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Number of platforms 3 3
Platforms (summary) Axis Direct Web, Axis Direct Mobile App, Fast Trade SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Mobile / desktop apps Web Trading Platform, Mobile Trading App, Desktop Trading Software Web, Mobile, Desktop

User ratings

User ratings for Axis Direct and SBI Securities across the key parameters.

Rated onAxis DirectSBI Securities
Fees 4 4.2 better
Brokerage 4.1 4.2 better
Trading platform 4.6 better 4.3
Customer service 4.5 better 4.4
Research 4.8 better 4.5
Overall 4.4 better 4.3

Investment options

Which investment products Axis Direct and SBI Securities let you access.

ParameterAxis DirectSBI 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 Axis Direct and SBI Securities.

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

Safety & credibility

SEBI registration, financial strength and complaint record for Axis Direct and SBI Securities.

ParameterAxis DirectSBI Securities
SEBI registration INZ000250138 INZ000200032
NSE member code 12798 13018
Year of incorporation 2006 2006
Net worth ₹1,639.08 Cr stronger ₹1,000+ Cr
Exchange memberships NSE · BSE · MCX · MSEI NSE · BSE · MCX
Latest complaint ratio 0.002% fewer complaints 0.088%

Complaints record

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

ParameterAxis DirectSBI Securities
Latest financial year 2025–26 2025-26
Exchange NSE NSE
Active clients 14,18,214 larger base 13,69,945
Complaints filed 22 1,208
Complaint ratio 0.002% fewer complaints 0.088%

Pros & cons

The main advantages and drawbacks of each broker.

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.
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

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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.