Punch Trade Review 2026: Native Charting, ₹1 Brokerage Across Every Segment, and Who It’s Built For

Operated by Market Pulse Securities Pvt. Ltd. and registered with SEBI (INZ000300936), Punch Trade is a Mumbai-based discount broker aimed at active, experienced traders in equities and derivatives — intraday, swing, scalping, and options — rather than at first-time investors. Its central bet is an in-house, natively built charting engine that drives a single-screen workflow: a trader analyses, manages positions, and places orders without hopping between tabs or tools. Pricing is just as flat — ₹1 per executed order on every segment Punch supports, covering equity delivery, intraday, futures, and options (or 0.10% of trade value, whichever is lower). That ₹1 holds on equity delivery too, where a number of brokers still levy ₹20 per order. Account opening, demat AMC, and platform fees are ₹0. The Android app is live; the iOS app is in development; the web platform doubles as the desktop trading surface.

This review covers how Punch is priced, what its charting and execution stack actually does, the option-trading tools, the safety defaults, who the platform suits, where it is still building, and how it compares on cost to ₹20-class brokers.

Punch Trade At a Glance

Charges

Punch keeps its charge sheet unusually flat. The headline is one number — ₹1 per executed order — and it does not change by segment. There is no ₹20 tier hiding behind equity delivery, and no platform or software subscription. The statutory and depository charges below are the standard pass-through costs every SEBI-registered broker levies.

Statutory charges apply on top, identical to any other broker: STT (effective April 1, 2026 — Futures 0.05%, Options 0.15% on the sell side; equity delivery and intraday rates unchanged), exchange transaction charges, SEBI turnover fee, stamp duty, and 18% GST on brokerage and charges. A brokerage calculator is available on Punch to compute the all-in cost of a trade before placing it.

Charting Architecture

Charting is the centre of gravity for Punch, and it is worth understanding why. The engine is built and maintained in-house by Market Pulse Technologies, the engineering group whose charting stack has reached 80 Lac+ traders across various broker integrations over the past decade. It is not an embedded TradingView window and not a licensed third-party charting library — it runs in the same codebase as Punch’s order routing. That single architectural choice is what unlocks the rest of the feature set.

The engine ships with 100+ technical indicators, including Smart Money Concepts as native indicators — Fair Value Gap (FVG), Break of Structure (BOS), and Change of Character (ChoCh) — rather than as community scripts a trader has to import. Drawing tools work on mobile, not just desktop. Multi-layout charting supports up to 8 simultaneous charts on the desktop/web platform and 2 on mobile, with up to 15 chart tabs open in parallel. Intraday history runs to 7 days and end-of-day history to 5 years.

Because the chart and execution layers talk to each other directly, Punch can ship features that a broker running a third-party chart cannot easily build: trade-from-chart on both mobile and web (place, modify, and exit orders by interacting with the chart itself), drag-and-drop stop-loss and target lines, and default-on Protection Orders wired into the chart UI. The charting depth rivals dedicated charting platforms for analysis — without the trader leaving the broker to get it, and without a separate subscription.

Option Tools

For options traders, Punch leans on the same native-engine advantage. It offers a full option chain with the Greeks — Delta, Gamma, Theta, and Vega — alongside open interest data. The feature that stands out, because it is genuinely uncommon among Indian brokers, is the ability to plot call or put premium movement directly on the spot price chart. A trader can watch how an option’s premium behaves against the underlying’s price action in real time, on one chart, instead of switching between an option chain and a price chart. Combined with the Scalper Joystick — a preset stop-loss/target control built for one-tap entries and exits — the option-trading workflow is designed around speed and visual context rather than form-filling.

Execution and Safety

Punch publishes live system metrics at punch.trade/status: 0.01-second order execution, 99.99% order reliability, and 99.999% platform uptime, refreshed continuously rather than quoted once in marketing copy. Standard order types — Market, Limit, Stop-Loss (SL and SL-M) — are supported, and Trailing Stop-Loss is live (it shipped through Builder’s Lab). GTT, AMO, Bracket, and Cover orders are not yet available.

What is less common is the platform’s posture on risk. Protection Orders ship default-on: stop-loss and target are pre-attached to entries, and the friction is deliberately placed on removing them, not on adding them. Overtrading controls — cooling prompts and the ability to lock the trading day — sit alongside the order workflow. The product philosophy is explicit: the job is not to push a trader to trade more, but to make responsible defaults the path of least resistance. For an experienced trader that means the safety rails are there without getting in the way of execution speed.

Multi-Layout and Desktop

Punch’s web platform doubles as its desktop trading surface, and the desktop experience is where multi-layout charting opens up fully — up to 8 charts on one screen, useful for a trader watching an index, its constituents, and the option chain at once. Trade-from-chart works on the web platform as well as on Android, so the single-screen workflow carries across surfaces. The iOS app is still in development; until it ships, iPhone and iPad users work through the mobile web at punch.trade.

What ₹1 per Order Actually Saves

The cost difference between ₹1 and the ₹20-flat pricing common across the industry is small per trade and large per month, because it scales with order count. The table below illustrates monthly and annual brokerage at three activity levels, comparing Punch’s ₹1.18 (incl. GST) against a ₹20-flat broker’s ₹23.60 (incl. GST), across 22 trading days.

Calculation: orders × effective cost per order × 22 trading days; annual = monthly × 12. Statutory charges (STT, stamp duty, transaction and turnover charges, GST on charges) apply on both and are not included here. The figures illustrate brokerage only.

Who Should Consider Punch Trade

Punch Trade suits active, experienced traders whose workflow centres on charting and F&O execution — intraday, swing, scalping, and options. The clearest fit is a trader who wants native trade-from-chart on mobile and web, multi-layout charting (up to 8 on desktop, 2 on mobile), native Smart Money indicators (Fair Value Gap, Break of Structure, Change of Character), call/put premium plotting on the spot chart, an option chain with Greeks, and the Scalper Joystick with preset stop-loss and target. Traders running 20 or more orders a day will see brokerage land structurally lower at ₹1 per executed order than at ₹20-class pricing — and that includes equity delivery, where Punch still charges ₹1 rather than ₹20. Traders who value published, verifiable execution metrics and default-on risk controls will find both built in.

Punch is not the right pick for an investor who needs a single account spanning mutual funds, commodities, currency, bonds, or IPOs — those are not yet supported — or for someone who specifically needs an iOS app today.

Limitations

Honest gaps, stated plainly. Punch does not yet support commodities or currency derivatives. Mutual funds, IPO applications, bonds, and NCDs are not yet available. The iOS app is still in development, so Apple-device users currently access Punch through the mobile web. GTT, AMO, Bracket, and Cover orders are not yet live. The product surface is narrower than a full-service broker’s by design — there is no Varsity-style education portal and no in-app investment baskets. Stock Research and Reports are launching soon, but a dedicated research desk is not live yet. For a multi-asset investor these are real constraints; for a chart-driven F&O trader they are mostly beside the point.

Builder’s Lab

Builder’s Lab is Punch’s public feature-voting board, and it functions as the company’s open roadmap. Traders submit feature requests and upvote each other’s; the team builds against what the community ranks. Over 500 requests have been processed to date. Among the features that shipped from top-voted requests: Drag & Drop SL/TP (471 votes), Fair Value Gap (313 votes), Trade-wise PnL (247 votes, shipped in nine days), Scalper Mode (241 votes), Split Charts (189 votes, shipped in eleven days), and Trailing Stop-Loss. For an active trader, the practical signal is roadmap velocity tied to user demand rather than to an internal product calendar.

Background and Financial Health

Punch Trade is operated by Market Pulse Securities Pvt. Ltd., incorporated in 2021 and headquartered in Mumbai. The founding team is Amit Dhakad (CEO/CTO), Hiral Jain (CFO), Arshad Fahoum, and Ajit Dandekar. The company is registered with SEBI (INZ000300936), is an NSE and BSE member, and uses CDSL as its depository (DP registration IN-DP-686-2022). It has raised $10M in seed capital from Stellaris Venture Partners, SIG, Prime Venture Partners, and Innoven Capital, with angel investment from Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). The team is around 50 people. Active client counts are not publicly disclosed. This is an early-stage, focused product rather than a mass-market broker — worth weighing honestly against the pace at which it ships features.

Frequently Asked Questions