Axis Direct vs SMC Global

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
SMC Global
Full-Service Broker · since 1994
SMC Global

Axis Direct vs SMC Global — quick verdict

Choose Axis Direct if

You want research and offline support

Invest Right. Invest Now.

Choose SMC Global if

You want research and offline support

Your Financial Partner.

Company overview

Axis Direct is a full-service broker incorporated in 2006; SMC Global is a full-service broker incorporated in 1994.

ParameterAxis DirectSMC Global
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX · MSEI NSE · BSE · MCX · NCDEX · MSEI
Year of incorporation 2006 1994 older
Number of branches 4,800+ wider 2,500+
Active clients 14 Lakh+ larger 4 Lakh+

Charges & AMC

Account-opening and maintenance charges for Axis Direct and SMC Global compared side by side.

ParameterAxis DirectSMC Global
Trading a/c opening ₹0 (Online) ₹0 (Online)
Trading a/c AMC ₹0 ₹0
Demat a/c opening ₹0 ₹0
Demat a/c AMC ₹0 (1st Year), ₹750 + GST per year thereafter ₹399 + GST per year lower
DP charges (per ISIN, sell) ₹15.93 per debit transaction (including GST) ₹15.93 per debit transaction (including GST)

Brokerage charges

How Axis Direct and SMC Global price each trading segment, per executed order.

ParameterAxis DirectSMC Global
Equity Delivery 0.50% 0.30%
Equity Intraday 0.05% 0.30%
Equity Futures 0.05% 0.30%
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O 0.05% 0.03%
Commodity F&O 0.05% 0.03%
Call & Trade ₹20 per executed order ₹20 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Axis Direct and SMC Global, per segment.

ParameterAxis DirectSMC Global
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 Axis Direct and SMC Global — AMC, debit transactions, pledging and remat.

ParameterAxis DirectSMC Global
Demat Account Opening ₹0 ₹0
Annual Maintenance Charges (AMC) ₹0 (1st Year), ₹750 + GST per year thereafter ₹399 + GST per year
Debit Transaction Charges ₹15.93 per debit transaction (including GST) ₹15.93 per debit transaction (including GST)
Pledge / Unpledge Charges ₹50 + GST per request ₹25 + GST per request
Dematerialisation (Demat) ₹50 per certificate + GST ₹150 per certificate + GST
Rematerialisation (Remat) ₹50 per certificate + GST ₹150 per certificate + GST
Failed Transactions Nil Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by Axis Direct and SMC Global.

ParameterAxis DirectSMC Global
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 (Sell) Premium Value (Not Applicable) Premium Value (Not Applicable)
Currency Futures & Options 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 Axis Direct and SMC Global.

ParameterAxis DirectSMC Global
3-in-1 account ✓ Yes better ✕ No
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 SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
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 Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by Axis Direct and SMC Global.

ParameterAxis DirectSMC Global
Trading platforms offered Axis Direct Web, Axis Direct Mobile App, Fast Trade SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Number of platforms 3 3
Platforms (summary) Axis Direct Web, Axis Direct Mobile App, Fast Trade SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Mobile / desktop apps Web Trading Platform, Mobile Trading App, Desktop Trading Software Web, Mobile, Desktop

User ratings

User ratings for Axis Direct and SMC Global across the key parameters.

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

Investment options

Which investment products Axis Direct and SMC Global let you access.

ParameterAxis DirectSMC Global
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 SMC Global.

ParameterAxis DirectSMC Global
Bracket Order ✕ No ✓ Yes better
Cover Order ✕ No ✓ Yes better
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 SMC Global.

ParameterAxis DirectSMC Global
SEBI registration INZ000250138 INZ000199438
NSE member code 12798 06611
Year of incorporation 2006 1994 longer track record
Net worth ₹1,639.08 Cr ₹3,215+ Cr stronger
Exchange memberships NSE · BSE · MCX · MSEI NSE · BSE · MCX · NCDEX · MSEI
Latest complaint ratio 0.002% fewer complaints 0.004%

Complaints record

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

ParameterAxis DirectSMC Global
Latest financial year 2025–26 2025–26
Exchange NSE NSE
Active clients 14,18,214 larger base 4,21,538
Complaints filed 22 17
Complaint ratio 0.002% fewer complaints 0.004%

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.
SMC Global

▲ Pros

  • ✓ Strong equity, commodity, and currency research.
  • ✓ Wide range of investment and wealth management products.
  • ✓ Large nationwide branch and franchise network.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Dedicated relationship managers and advisory services.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Some advanced advisory services are available only to premium clients.
  • ✕ Trading platforms may have a steeper learning curve for beginners.
  • ✕ Call & Trade charges apply.
Open Axis Direct Account Open SMC Global Account

Explore more comparisons

Compare Axis Direct with

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Compare SMC Global with

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