Top 10 Discount Brokers in India
Last Updated: Oct - 31- 2019
Discount brokers are known as online stock brokers offer equity, mutual funds and derivatives trading and investment services at a very steeply discounted price, usually a flat fee per executed order. Most discount brokers charge between 10 and 20 rupees per executed order.
Irrespective of order size, share price- expensive or cheap, discount brokers usually charge a flat fee per executed order, which is very good for the client. If you can execute trades by yourself from your smart phone or computer, it is always best to open an account with discount broker to save a lot of money.
Until recently, the stock broking business was completely dominated by traditional brokers in India. From 2010 new ‘discount broking’ business model trend has picked the speed and it is growing exponentially since then. Online stock brokers or discount brokers operate from a centralized office or a head office with a few branches in major cities. Traditional brokers usually present across the country in most towns and cities.
We have picked top 10 discount brokers in India for you based on reliability, trading platforms & technology, brokerage rates, customer support and satisfaction, investor education initiatives and the number of active clients with each broker.
| Trading Segment | Brokerage Charges | |
|---|---|---|
| Zerodha | Equity & Mutual Funds Investments are brokerage free and all other segments 0.01% or Rs.20 whichever is lower per executed order. |
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| Upstox | Equity Investment is brokerage free and all other segments 0.01% or Rs.20 whichever is lower per executed order |
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| 5Paisa | Flat Rs.10 per executed order |
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| Samco | Equity Delivery 0.2% or Rs.20 per executed order and all other segments 0.02% or Rs.20 whichever is lower per executed order |
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| Fyers | Equity Investment is brokerage free and all other segments 0.01% or Rs.20 whichever is lower per executed order |
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| RK Global | Unlimited trading for month @ RS.999 or Rs.9 per Executed Order |
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| SAS Online | Unlimited trading across NSE Cash, BSE Cash and NSE F&O for flat Rs 999 per month. |
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| Prostocks | Unlimited trading in Equity & Equity Derivatives in an Exchange @ Rs 899 per month. |
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| Tradejini | Equity Delivery 0.1% or Rs.20 per executed order and all other segments 0.01% or Rs.20 whichever is lower per executed order |
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| Achiievers | Unlimited trade in CASH, F&O, COMMODITY, and CURRENCY @ Rs 750 |
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Here's a summary of the Top 10 Discount brokers:
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ZERODHA
When most of the brokerages' firms were charging large amounts of money, Zerodha started charging Rs 20 per-trade and that changed the entire industry. Apart from bringing a competitive pricing model that made it the first of its kind, Zerodha is also acknowledged as a pioneer in technology for trading across all exchanges- NSE, BSE & MCX in India.
- First Discount Broker in India.
- First stock broker in India to offer brokerage free investment on all equity & Mutual funds.
- First stock broker to offer direct mutual funds (Coin) for free.
- First stockbroker who’s primary intention is to educate (Varsity) clients, rather than providing recommendations/tips to make clients trade blindly.
Check out the complete review of Zerodha Securities here.
UPSTOX
Upstox (formerly known as RKSV Securities) is the second largest discount broker in India offering Equity, Currencies &Commodity trading services at BSE, NSE & MCX. This stock broking form was launched in the retail trading segment in January 2012 by 3 founders namely Raghu Kumar, Ravi Kumar and Shrinivas Viswanath and has been backed up by some of the prominent names such as Ratan Tata, Kalaari Capital, and GVK Davix.
Upstox offers competitive brokerage charges similar to Zerodha in the league of discount brokers by offering equity Investment for brokerage free and 0.01% or Rs 20 whichever is lower per executed order for all other segments be it equities intraday, currencies, FnO or commodities.
Check out the complete review of Upstox here.
5PAISA
5paisa.com is established in the year 2015 and is backed by one of India’s leading financial services companies – IIFL, which has over 2.9 million happy customers across various business segments.
Although it is relatively a new player in the industry, it is already into three financial domains including broking, mutual funds and insurance under one roof. Within stock broking, it allows trading within NSE, BSE & MCX-SX exchanges through its membership with the respective exchanges.
Check out the complete review of 5Paisa here.
SAMCO
SAMCO Securities Ltd is one of the leading discount brokerage firm based out of Mumbai, allows trading across all leading stock and commodity exchanges in India including BSE, NSE, MCX-SX, MCX, and NCDEX.
The company has a stronghold in the capital market as full-service Broker from last 20 years formal brand name Samruddhi Stock Brokers Limited.
Check out the complete review of Samco Securities here.
FYERS
Focus Your Energy & Reform the Self (FYERS) is a revolutionary name in Discount Broking Space founded in 2015 by Tejas Khoday and team with the primary focus of enabling retail participants with the best trading platform in India.
The broker is based in Bangalore and the members of NSE India and for demat, Fyers has a partnership with IL&FS Securities Services Limited. With Fyers we can trade in Equity, F&O, and Currency on NSE.
Check out the complete review of Fyers Securities here.
RK Global, SAS Online, Prostocks, TradeJini, Achiievers are new and emerging discount brokers in India. They don’t have a large number of clients yet but growing at a rapid rate. These 5 brokers mostly use third party trading apps and terminals or NSE now terminal. We will review as they grow their client base or if they bring any new innovations in this field.
Most young people in the country use smart phones and availability of widespread 4G internet and instant account opening facility with aadhaar is driving the growth of discount brokers and we are expecting it to continue for years to come.
If you're looking to open an account with any of these stockbrokers mentioned above, please provide your details here in the form below. We will set up a callback for you with the best Discount Brokers right away:
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