Introduction
India has a potential for large trading investors due to the rising interest of the masses in this field. Platforms such as Groww, Zerodha, and Angelone are some examples of startups that took full use of the opportunity. Similarly, Alice Blue is a trading broker established in 2006, in Tamil Nadu and has been relocated to Bangalore since 2017.
In this brief review, we will take a look at all the features and other services offered by Alice Blue trading broker, and whether or not it is safe for traders to trust.
Features of Alice Blue
Alice Blue provides an online platform for trading IPOs, Equity, Commodities, Currencies, F&O, and Mutual Funds. Some of its Features are:
- It has over 5 Lakh plus clients.
- More than 12,000 partners.
- Significant presence in over 20 major cities.
- A workforce of over 400 people.
- Charges as low as 15 INR for F&O and Intraday Trading.
- Free equity investments
- Alice Blue: Brokerage Calculator
Types of accounts offered By Alice Blue
The broker offers a free Demat account for all its potential clients. The broker offers only this account. While the website claims this to be true, a majority of its clients have complained about all these claims to be a complete hoax. After opening a Demat Account with this broker, users were informed by the team that there is no such provision for a lifetime free Demat Account. For the best of your financial self, we recommend you to not be a part of this brokerage platform.
Trading Products By Alice Blue
Alice Blue trading platform provides a variety of products to trade.
- IPO: Initial Public Offerings, aka IPO, are primarily used as shares being issued in the market initially which is then transferred to the secondary market.
- Mutual Funds
- F&O
- Trading view
- Stocks
- Currencies
- Commodities
While all these products seem like a lot to choose from and may give an impression of being very sophisticated, do not let this be enough to fool you. From past user experiences, we can assure you to not turn a blind eye to this platform. Be aware of every step and stay cautious.
ANT Alice Blue: Trading Platforms
ANT MOBI
Their mobile application, ANT Mobi is designed for convenient trading and is available for Apple iOS and Android devices.
A lot of its users have, however, complained about how the application is a complete headache and does not work efficiently.
Read Also: Fx Road Review
ANT WEB
The Ant Web Alice Blue is a perfect option for traders as they can trade directly from the charts, and enjoy position analytics along with multiple functional option chains and charts.
Users have frequently complained about how the broker is only slightly functional in the web platform.
ANT PLUS
Alice Blue Ant Plus, also known as Alice Blue Ant API, is widely discussed by their target customer base, start-ups, finance companies, and algo traders for their convenient, easy, and free services.
Alice Blue Registration
Account opening process at alice blue is just as simple. Users can register themselves and become an Alice Blue partner by following the steps given below:
Step-1: Open the official website of Alice Blue.
Step-2: Click on the “Open Account” option positioned on the top right corner of the home page.
Step-3: Enter the required details such as your name, email address, mobile number and other required fields.
Step-4: After the verification process, a confirmation mail will be provided.
Step-5: You have successfully registered yourselves with the Alice Blue Online platform which is usually considered a hoax by a majority of its clients.
Alice Blue Login
On their portal, there are 5 login options users can select from. These include login options for IPO & Mutual Funds account, Alice Blue Back Office, Alice Blue ANT Web Trading Platform, and Partner Dashboard.
Users just need to fill in the login details such as a unique ID and their franchise code.
Alice Blue Customer Care
Proved to have the worst customer service of all time, if you have still put blind trust in this broker and finally observe something fishy happening with your account, you may try to reach their customer support by going to the “Support” section on the dashboard and search for your query.
If that doesn’t satisfy you enough, feel free to raise a ticket. Do not expect them to really respond back as this is what its clients go through, as informed previously.
If you, somehow, still have a little faith left in the broker, try contacting the team directly at call. Be careful not to be manipulated by their staff for putting in more money.
User Experiences of Alice Blue
It is disheartening yet eye-opening to know how this broker continues to scam people in broad daylight. From what we have researched and gathered, this broker cannot be trusted with a single service. From the worst hidden charges and hidden brokerage to the neglectful customer support staff, its almost a site of scam. Users have complained about how their trade orders get cancelled in the middle of the trade without their interference. There has been a complaint regarding how the margin rate doubles quickly.
All traders must trade with precaution and at their own risk. We definitely do not recommend this broker to anyone as far as their safety is concerned.
FAQs
Is Alice Blue trustworthy?
Alice Blue trading platform is the worst when it comes to user safety. There is barely any response from the customer support team and their team manipulate the accounts also.
Is Alice Blue SEBI Registered?
Yes, ironic enough, the broker has been registered with SEBI since 2006. However, be aware and keep caution while trading with this broker.
How to exit Alice Blue?
To exit Alic Blue trading, open the Alice Blue official website and look for account enclosure. Opt for delete account.
Who is the owner of Alice Blue?
M Sidhavelayutham is the CEO of Alice Blue.
Is Alice Blue Free?
While it claims to be free, the broker has been criticized for having various hidden charges and being a complete scam.
