Reviewed by Neil, Founder, PaisaTrade.in · Updated 2026-09-29
Alice Blue Review 2026
India's Smart Broker — Complete brokerage analysis, charges breakdown, platform review, and honest verdict for Indian investors.
₹15 flat brokerage + zero AMC + all segments + API
Brokerage
₹15
AMC
₹0
Active Clients
3 Lakh
Founded
2006
About Alice Blue
Alice Blue is one of India's most recognized stock brokers, registered with SEBI (Registration No: INZ000156038). Founded in 2006 and headquartered in Chennai, Tamil Nadu, Alice Blue has built a strong reputation in the Indian capital markets. With over 3 Lakh active NSE clients, a growing broker with a loyal client base in terms of registered clients.
As a discount broker, Alice Blue offers trading across Equity, F&O, Currency, Commodity, Mutual Funds segments. The broker operates a app-first, mobile-native trading infrastructure, catering primarily to cost-sensitive traders, commodity traders, algo traders.
The brokerage model at Alice Blue is straightforward: flat fees with zero delivery brokerage. This model favours active traders and long-term investors alike, as delivery (holding) trades incur no brokerage — only SEBI charges, STT, stamp duty, and exchange fees apply.
Account Opening Process
Opening an account with Alice Blue is a fully online, paperless process. You need your PAN card, Aadhaar, bank account details, and a signature image. The KYC verification is Aadhaar-based (eKYC) and typically completes within 24–48 hours. Account opening fee is ₹0.
Brokerage Calculation Example
Let's say you buy 100 shares of Reliance at ₹2,800 (total value = ₹2,80,000):
Margin & Leverage
For intraday equity trades, Alice Blue provides Up to 5x leverage. For F&O, margin requirements follow SEBI's SPAN + Exposure framework set by the exchanges. Note: As per SEBI regulations, naked short selling in options requires full premium upfront, and margin pledge requirements were updated in 2021.
Alice Blue offers a Margin Trading Facility (MTF) for select stocks, allowing you to hold leveraged positions for more than one day by paying daily interest.
Tax & Compliance Features
Alice Blue provides detailed P&L statements, tax P&L reports (for ITR filing), and SEBI-compliant contract notes for every executed trade. These are accessible from the web platform and downloadable as PDFs. For mutual fund investments, Alice Blue provides capital gains statements aligned with LTCG/STCG tax brackets.
SEBI Registration & Safety
Alice Blue is registered with SEBI under registration number INZ000156038. Client funds are held separately from the broker's own funds as per SEBI's client asset segregation norms. Alice Blue is also a registered member of NSE, BSE, MCX, and NCDEX (where applicable). Your demat account is held with NSDL or CDSL — separate from the broker — ensuring your securities are safe even if the broker faces financial difficulties.
Active Client Base
3 Lakh
Active NSE Clients (2026)
#15
NSE Rank by Active Clients
Alice Blue ranks #15 among all NSE-registered stockbrokers by active client count. NSE publishes this data monthly — Alice Blue's consistent presence in the top 20 reflects strong client retention and new account growth. The broker primarily serves cost-sensitive traders, commodity traders, algo traders.
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