Aliceblue honest review

Please keep posting your experience there- good, bad and neutral

Sure, will do that.

Their platform is no where near Kite.
that’s for sure! zerodha’s platform is smooth and simple for me too. Alice also gives screener for top gainers, losers, stocks near 52W high/low etc so that might be a plus for someone.

Kite mobile is certainly best in class. as said above, there’s no comparison

Charts can go horribly wrong in ANT For charting i use tradingview not on zerodha but on their site itself as i can add custom scripts there.

If you are selling options especially on expiry day, I think you have chosen the right broker. haha, using alice only for option selling. the day when zerodha offers same exposure i’m going to close account in alice as it’s easy to manage trades from one platform rather than monitoring two at the same time.

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ICICI Direct the leverage is very high and brokerage is reduced now a days. But its still going to be high when compared to zerodha.

yes charges will be higher, will calculate how much i can bear…you’re a user too?

@siva please look at the last point…that is the prevailing sentiment among many traders, upto you guys now!


I’ve been using Alice from December 2019.

My observations:

Margin exposure - 10x margin on Friday, Monday, & Tuesday
5x margin on Wednesday & Thursday, with option to get 10x on Thursday by paying extra.
ANT platform - this is good if you’re on a desktop.
Good customer service - faced few issues with margin updates and got them resolved in few mins with a phone call
Quick and complete a/c opening process

Not so great ANT Mobile platform
Their ANT Web page is glitchy.

In summary if you’re looking for high intraday exposure, Alice is a good enough broker.

okay…thanks, so you’re using it currently?

i am not favour for high leverage like 10X , because high leverage will wipe out the account one day , I seen lot of people in my 10 years journey its will wipeout blink of eye in one day , i really scare about that ,

Zerodha is giving very low exposure i agreed 2.5X is low , @siva zerodha can provide 4X as reasonable to clients as RMS

Motilal agreed to me give 20X leverage for me , but i never use , i dont want this much leverage in market , because the RM told to me for us giving no problem , in sudden volatility you account will wipe out , and SL and SLM wll not trigger on your rate , so my advise is take less leverage he personally advice me


People just want to jump on high leverage bandwagon thinking it will give them sure shot profits, all this while forgetting leverage is double edged sword and like you said can wipe ones account clean instantly.


Yes sir, using it currently.

I completely agree to this.

Will share my personal experience. I was very happy to start trading with 10x. I was using 20k in that a/c and was trading only intraday futures.

I was being very careful in the beginning properly, not over trading and all. Suddenly the stupid inside me, did not want to close the day with a negative balance. So went on over-trading mode. Though my profit was showing some 3-4k, I was paying most of it as taxes and brokerage. My net profit for that day was only 1k.

And on another was close to blowing the entire capital in that a/c, again this was due to the temptation that its only a small amount.

So it works either way, when you are able to manage risk and get out in profit, its good. Bad part comes when your winning streak fails and enter the phase where you’re in losses.

It’s only good for people who want to trade futures with small capital like 10-20k. Again, if that’s good or not is a different discussion altogether!!


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Does Alice blue really provide 3x margin on Option buying, I just came across their website showing it.
I haven’t seen any broker providing leverage on options buying.

They do, but there’s a catch.

If you are looking for transparency, peace of mind and value added relationship, Zerodha is better than most discount brokers.

I know that Aliceblue does offer 3X but when I tried trading 1 lot at 1 rupee, they blocked 112 rupees, while Z for all it’s technical limitations blocked only 75.

Reasons given range from pathetic to despicable.

Not everything is bad there.

If you don’t fall for the trap called leverage and extra margin, you will realise that Z is good for the health of your account and learning curve.

I suggest only experienced traders who know how to manage risks go and play fire with cheapskates like Aliceblue

Option sellers- AB is the best choice if you are capable


I am one of their Authorized Persons and in deep headache with n number of things. I can quite ruthlessly give you review as I am sort of Authorized Person or Marketing Affiliate or Partner of every broker.

So I do not have ANY BIAS. I even have multiple AP licenses in various names in a properly diversified manner.


Like @nithin started Zerodha, Alice is actually very old company from the South. There was fight between two brothers. One made a separate arm named Zebu. Siddharth kept the original firm Aliceblue.

They partnered with Tradelab for their charting software which is also backed by Zerodha Universe. Read here Here’s how Zerodha became India’s biggest stock brokerage - Times of India. Zerodha’s first investment was Tradelab.


That’s like Kite V1.

Sas Online, Aliceblue, Religare and half dozen broker uses same software. It is way inferior to Zerodha’s Kite. So, that’s the answer to how is the platform!

Platform Stability:

They have less active clients than Zerodha. Still, it hangs a lot.

  • It has problem with cookies and it shows different people’s data if the other person had logged into your system before and logged out.
  • It has lots of glitches which you can see by inspecting elements. Mostly, basic Angular JS errors.
  • The data lags. The chart lags because load balancing is not proper.

But, the NEST platform works like butter.

Also, unlike zerodha, their API is completely free. So, APs like us who have certain set of clients made their own platforms like I have one in Telegram.


It is at the discretion of branch managers. Yes, they have a branch manager and regional manager structure. Some branch managers are good and cool. Some are too bad.

I can easily get anyone 10x leverage but right now they have capped it to 5L capital because most big 10x clients tend to lose money and end up in debit balances.

They have both a % plan like full brokers and per order plan like Zerodha. Everyone is instructed to shovel down % plans to the customers.

Customer Care

  • They don’t care.
  • They don’t care about their APs/partners too.
  • They cut the positions without your authorization making random rules. (Like some cases, they do not allow to take your BankNIFTY Thursday positions to delivery so that they can make brokerage on the exit leg.)
  • Their RMS is too bad. Customers often keep going into debit balance.

If the branch manager has their target filled. Your account opening will take more than 2 months. There are three directors. Each director has their own liking. Like one of the directors used to give Mumbai branch an unfair advantage.

If your branch manager is bad. You’re done and dusted.


It takes more than 20 mails to get a normal thing solved. In Zerodha, even if the customer support doesn’t respond, Nithin responds always without fail. I wonder How.

That shows the difference.


Client files with SEBI and sometimes they give generic replies there also.

Aliceblue is only sustaining because of 10x leverage and free API and few too awesome branch managers.

My branch manager which I prefer became father in this lockdown (You can only imagine the hardship.), He still works a huge amount of time, from peon to dealer lol all himself.

Unless it is necessary. Do not bother opening an account.

We created their python wrappers, many underlying sub terminals, and this, that. So, stuck with them as their API is free and already ended up building lots of things around its ecosystem.

I have near 14K active customers in my sub brokerage in total here and there (Comparison sites, This, That - Afterall, its business. PS: Its unrelated to Unofficed). In Zerodha, I have the least but I will blindly recommend everyone to Zerodha!

You know why - The founder is terribly transparent and He cares!

Anyways I have a slightly detailed review on options trading and this broker in a comparative manner.


Thanks for the detailed review

It comes from extreme pain haha.


haha, regardless…thanks for sharing so we don’t suffer :stuck_out_tongue:


Thank you for being honest

@nithin It’s not easy to build a solid personal reputation the way you do. Please take it as a word in sincerity.

With much respect comes great expectations and greater responsibilities.

I hope you will continue to uphold the values you have personally indicated

Please bear in mind that the losses due to glitches cause tremendous pain in your traders, because they trust you to do better

Actually this is what makes the sub broker business better in Alice. My team provide the support instead of their crap support. If you want to test waters there let me know.

Dear @manas111, I think Astha Trader can match your requirements. For example, they charge 3.5K to 5K (depending on volatility) for SELLING BANKNIFTY OPTIONS & all OTM orders are allowed.

are they reliable?

Yes. 100%.