Prabhudas Lilladher Review: Brokerage Fees & Demat Services
Prabhudas Lilladher operates as one of the long-standing full-service institutional and retail brokerage firms in the Indian financial sector. This Prabhudas Lilladher review evaluates the broker’s compliance framework, regulatory standing under SEBI, fee structure, depository charges, and platform offerings. You’ll see how the company structures its depository services and what you can invest in across Indian exchanges.
Our verdict: Prabhudas Lilladher scores 3.6/5 in this Prabhudas Lilladher review. It may suit long-term investors who want in-depth research and a choice of CDSL or NSDL custody, but brokerage rates are not published, and support runs only on weekdays.
Prabhudas Lilladher Review Overview
- Broker Type: Full-Service Stock Broker
- Founding Year: 1944
- Depository Participant: Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NSDL) (DP Reg. IN-DP-439-2019)
- Active Client Base: Not disclosed
- Official Website: Prabhudas Lilladher
Note: This link leads to Prabhudas Lilladher’s official website. Monetyra does not offer account opening or direct financial transaction services. Investing carries significant risk — please check the broker’s registration on SEBI’s register before use.
Disclaimer: This website’s content is provided for informational and educational purposes only. Prabhudas Lilladher (PL Capital) is a brand of Prabhudas Lilladher Private Limited, which is registered with the Securities and Exchange Board of India (SEBI) under SEBI Reg. No. INZ000196637. Investing in securities and derivatives is regulated by SEBI, but investing carries risk from market volatility, and investors may lose their entire capital. Please read the broker’s risk disclosure documents and assess your risk before investing.
Pros and Cons of Prabhudas Lilladher
Pros
- Established institutional research desk covering key corporate sectors and market trends.
- Dual depository participant access through both CDSL and NSDL for demat custody.
- Multi-asset market coverage spanning equities, derivatives, mutual funds, and debt instruments.
- A lifetime demat annual maintenance charge (AMC) scheme is available for long-term investors.
Cons
- Segment-wise brokerage schedules for delivery and intraday trades are not stated on the primary online registration page.
- Customer support operational hours are limited to weekdays from 8:30 AM to 5:30 PM IST.
- Standard demat AMC is ₹300 per year with a Power of Attorney or Demat Debit and Pledge Instruction (POA/DDPI), or ₹450 per year without one.
- Real user feedback notes occasional delays in offline document processing and operational desk response.
Prabhudas Lilladher Broker Review Score
| Category | Score | Notes |
|---|---|---|
| Safety and Regulation | 3.0/5.0 | Holds SEBI Reg. No. INZ000196637; lacks public client base counters. |
| Pricing and Fees | 2.2/5.0 | Per-segment brokerage rates are not stated on the main registration portal. |
| Deposits and Withdrawals | 3.4/5.0 | Unified Payments Interface (UPI) and Net Banking deposits supported with standard exchange payout cycles. |
| Range of Tradable Assets | 4.4/5.0 | Covers cash equities, derivatives, commodities, currency, IPOs, and mutual funds. |
| Platform Quality | 4.0/5.0 | Offers proprietary mobile and desktop trading software alongside API capabilities. |
| User Experience and Interface | 4.0/5.0 | Clean mobile interface, though traditional documentation flows remain common. |
| Account Types & Min Deposit | 3.4/5.0 | Multiple AMC schemes offered, including a Basic Services Demat Account (BSDA); minimum deposit is not stated. |
| Learning Resources | 4.0/5.0 | Extensive fundamental equity research reports, macroeconomic commentary, and sector views. |
| Service and Support | 3.8/5.0 | Multichannel telephone and email escalation desks active on trading days. |
| Overall Score | 3.6/5.0 | Average of the nine category scores; no Safety Cap applied. |
The ratings and reviews on this site reflect our independent assessment at the time of publication and do not constitute financial, investment, or trading advice. Broker offerings, fees, and regulatory status may change — please verify directly with the broker before deciding. Monetyra is not a SEBI-registered investment adviser; Indian users should consult a SEBI-registered adviser before making any investment decision.
Safety and Regulation
- Legal Entity: Prabhudas Lilladher Private Limited
- Regulator: Securities and Exchange Board of India (SEBI)
- Registration Number: SEBI Reg. No. INZ000196637
- Depository Participant: CDSL and NSDL (IN-DP-439-2019)
- Exchange Member IDs: National Stock Exchange (NSE) Member Code: 05977 | BSE Limited (BSE) Member Code: 0564 | Multi Commodity Exchange (MCX) Member Code: 40690
- Registers: SEBI
Understanding SEBI regulations helps investors evaluate broker accountability, statutory reporting standards, and depository oversight in India. As a SEBI-registered broker, Prabhudas Lilladher must follow rules on capital adequacy, keeping client funds separate, and exchange settlement. For Indian retail clients, this also gives access to grievance channels such as SEBI SCORES and Smart ODR. SEBI registration does not guarantee the broker’s performance or protect you from market losses.
Range of Tradable Assets
Prabhudas Lilladher offers a wide range of assets across domestic market segments, providing execution support through major stock and commodity exchanges:
- Equity shares (cash delivery and intraday)
- Derivatives (Equity Futures and Options)
- Currency Derivatives
- Commodity Contracts
- Initial Public Offerings (IPOs)
- Mutual Funds
- Corporate Fixed Deposits and Bonds/Non-Convertible Debentures (NCDs)
Futures and options use leverage, which can magnify losses as well as gains. Read SEBI’s risk disclosures for derivatives before you trade.
Deposits and Withdrawals
Fund transfers can be executed through domestic electronic banking systems linked directly to verified trading bank accounts.
| Channel | Deposit Fee | Withdrawal Timing | Suitable For |
|---|---|---|---|
| UPI | Nil / Free | Subsequent working day payout cycles | Instant transfers |
| Net Banking | Nil / Free | Subsequent working day payout cycles | High-value transfers |
| NEFT / RTGS | Nil / Free | Subsequent working day payout cycles | Institutional and large batches |
NEFT is National Electronic Funds Transfer, and RTGS is Real Time Gross Settlement.
Source: Prabhudas Lilladher account opening page — Verified as of: November 4, 2026
Note: All withdrawals must be remitted exclusively to the client’s registered bank account in compliance with SEBI anti-money laundering mandates. Third-party deposits or third-party payout requests are rejected.
Pricing and Fees
In this Prabhudas Lilladher review, trading costs depend on the brokerage scheme agreed during onboarding, as standard rates are not stated on the public portal.
| Segment | Brokerage Charge | Suitable For |
|---|---|---|
| Equity Delivery | not stated | Long-term investors |
| Equity Intraday | not stated | Day traders requiring margin |
| Futures & Options (F&O) | not stated | Derivative traders |
| Currency Derivatives | not stated | Forex hedging participants |
| Commodities | not stated | Commodity contract traders |
To compare intraday costs across brokers, read our guide on Intraday Brokerage Charges.
Source: Prabhudas Lilladher account opening page — Verified as of: November 4, 2026
Depository charges: Under the Standard scheme, Prabhudas Lilladher charges ₹20 per on-market debit if you have a POA/DDPI, or ₹25 without one. Off-market transfers cost ₹30 or 0.03% of the value, whichever is higher. Pledge charges are ₹20–₹30 per transaction, and Goods and Services Tax (GST) and other statutory taxes apply on top.
Account Types & Min Deposit
Our Prabhudas Lilladher review of account types covers conventional DP schemes and Basic Services Demat Account (BSDA) formats.
| Scheme Name | Annual Maintenance Charge (AMC) | Depository System | Account Feature |
|---|---|---|---|
| Standard Individual (With POA/DDPI) | ₹300 per year | CDSL / NSDL | Full-service trading & custody |
| Standard Individual (Without POA/DDPI) | ₹450 per year | CDSL / NSDL | Manual transaction PIN (TPIN) or physical slip routing |
| Corporate / Non-Individual | ₹800–₹1,000 per year | CDSL / NSDL | Institutional entities |
| Lifetime Scheme | ₹800 one-time upfront | CDSL / NSDL | No recurring annual maintenance |
| BSDA (Holding up to ₹4 lakh) | Nil | CDSL / NSDL | Low-portfolio value accounts |
| BSDA (Holding more than ₹4 lakh and up to ₹10 lakh) | ₹100 per year | CDSL / NSDL | Mid-portfolio value accounts |
Source: Prabhudas Lilladher DP tariff (PDF) — Verified as of: November 4, 2026
Clients opening accounts must fulfill mandatory KYC for Demat account verification including PAN, address proof, bank verification, and Aadhaar-based electronic verification. Minimum initial funding is not stated.
Platform Quality
Prabhudas Lilladher provides digital access through proprietary desktop software and web terminals designed for active market monitoring.
PL Capital Mobile App
The mobile platform features live market streaming, technical charting widgets, portfolio management screens, and direct mutual fund order placement.
Trade AnyWhere Web
A browser-based trading interface offering order execution across cash and derivative segments with multiple market watchlists and technical indicators.
PL Trade API
An application programming interface (API) that lets systematic traders connect custom trading algorithms and risk engines directly to exchange order books.
User Experience and Interface
The interface is data-focused and suits investors who rely on research.
Onboarding Workflow
Digital account onboarding is facilitated through Aadhaar OTP verification and e-sign portals. Physical paperwork processing remains available through branch representative networks for corporate entities.
Platform Usability
You can find your holdings, margin ledger, and research updates easily, though the desktop system takes longer to learn than modern mobile-first discount brokers.
Learning Resources
Prabhudas Lilladher runs an institutional research team that publishes market analysis and educational content.
Institutional Research Reports
As a client, you get daily morning market roundups, quarterly earnings previews, and macroeconomic assessments.
Sector Thematic Studies
In-depth reports covering banking, pharmaceuticals, automotive, and capital goods sectors provide institutional perspectives on valuation multiples.
Educational Webinars
Periodic client training sessions cover technical analysis foundations, risk budgeting, and derivative hedging principles.
Service and Support
- Support Hours: Monday to Friday, 8:30 AM to 5:30 PM IST
- Email Desk: [email protected]
- Telephone Support: Dedicated centralized helpdesk line
- Physical Network: Multi-city branch and partner offices across India
Final Thoughts on Prabhudas Lilladher Review
Prabhudas Lilladher offers a research-focused service backed by more than 80 years of operating history and SEBI registration. The availability of multiple depository schemes, dual depository participation, and institutional research reports may suit conservative and long-term equity investors. However, the lack of transparent, flat-fee discount brokerage tariffs on public pages and restricted weekday support hours may pose drawbacks for modern, cost-sensitive algorithmic traders. Prospective clients should confirm individual brokerage schedules with sales desks before completing demat registration.
FAQs
Prabhudas Lilladher is registered with SEBI under registration number INZ000196637, authorizing it to operate as a stock broker on NSE, BSE, and MCX.
Standard individual accounts incur an annual charge of ₹300 per year with POA/DDPI or ₹450 per year without POA/DDPI, while a lifetime option costs ₹800 one-time upfront.
Eligible individual investors can access BSDA facilities with Nil AMC for portfolio holdings up to ₹4 lakh, and ₹100 per year for holdings of more than ₹4 lakh and up to ₹10 lakh.
Client support operates on trading days from Monday to Friday, 8:30 AM to 5:30 PM IST via telephone and email assistance desks.
Prabhudas Lilladher holds depository participant memberships with both Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL).
Full Disclaimer: This article is prepared for educational and analytical purposes only and does not constitute financial or investment advice. Stock broking services are provided by Prabhudas Lilladher Private Limited (PL Capital), registered with SEBI (Reg. No. INZ000196637; DP Reg. No. IN-DP-439-2019). Past performance does not guarantee future results. Please read all scheme-related documents carefully before investing.
This article was created with AI assistance and reviewed by our editorial team.