Alice Blue review
Independent review of Alice Blue — brokerage, app, account opening, customer support and the kind of investor it actually fits. Alice Blue is a SEBI-registered discount broker (founded 2006).
Verdict
Cost-conscious and active traders who want a flat per-order brokerage, free account/AMC and multi-platform access (mobile, web, desktop, API) across equity, F&O, commodities and currency.
Brokerage at a glance
Headline brokerage on the default Alice Blue pay as you trade plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About Alice Blue
Alice Blue is a SEBI-registered discount broker (founded 2006). It charges a flat ₹20 per executed order or a percentage (whichever is lower) across segments: equity delivery is ₹20 or 2.5%, while equity intraday and F&O are ₹20 or 0.05%. Account opening and demat AMC are ₹0.
The Alice Blue Trade App trading app
- Trade NSE/BSE equity, F&O and commodities (MCX) in one app
- Invest in mutual funds, SIPs, IPOs, ETFs and bonds
- Margin Trading Facility (MTF) with leverage on eligible stocks
- Advanced charting with TradingView integration
- Instant fund transfer and in-app market news
- Fingerprint/biometric login for account security
Opening an Alice Blue account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at aliceblueonline.com.
Customer support
Alice Blue support is available customer/partner support 08:30-23:59 mon-fri, 09:00-18:00 sat; account opening support 09:00-18:00 mon-sat. For complete contact details, the four-level SEBI escalation path (broker desk → compliance officer → SCORES → SMART ODR), and what to have ready before escalating, see the Alice Blue customer care page.
Pros and cons
How we judge this: these pros and cons are drawn from Alice Blue’s published charges and platform features, its app-store ratings — cross-checked against its SEBI registration and NSE / BSE membership. They are our editorial assessment, not a sponsored placement, and not financial advice.
What users say about Alice Blue
Paraphrased themes from public app-store reviews and forums — these are users’ opinions, not our testing, and not financial advice. Sampled 2026-06-14.
- Multi-platform: mobile (ANT Mobi), browser (ANT Web) and desktop (ANT Desk) with a single login
- Advanced charting with multiple technical indicators and several years of historical data
- Fast order execution with one-click trading and customizable watchlists
- Order types including GTT (good-till-triggered) and bracket orders
- Free trading API (ANT Bridge) connecting to Amibroker, Python, Excel and MT4
- Separate Rise app for direct mutual funds and IPO applications
- Chart layouts, drawings and indicator settings are not always retained between sessions
- Watchlist scrips sometimes need to be re-added each time the app is opened
- Some users report a lengthy or multi-step login process
- Occasional errors when loading charts that require retrying
Alternatives to Alice Blue
By active client count, Alice Blue is the #25 largest of 38 retail brokers on the NSE (as of 2026-04-30). If you're weighing it against the field, these are the brokers people most often compare it with:
See the full ranked list of every retail broker in India on the stock brokers in India page, or compare exact landed cost on a typical trade with the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about Alice Blue.
Alice Blue is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Cost-conscious and active traders who want a flat per-order brokerage, free account/AMC and multi-platform access (mobile, web, desktop, API) across equity, F&O, commodities and currency.
Equity delivery is ₹20 / 2.5%. Equity intraday is ₹20 / 0.05%. Equity options is ₹20 / 0.05%. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
Alice Blue is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
Trade NSE/BSE equity, F&O and commodities (MCX) in one app. Invest in mutual funds, SIPs, IPOs, ETFs and bonds. For a full feature list and download links see the Alice Blue app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://aliceblueonline.com.
Discount brokers comparable to Alice Blue include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.