the best discount broker
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Before start to address your question 1st of all we need to see meaning of discount broker

Discount broker – who offer lowest brokerage compare to Traditional Broker or full service broker  Discount Broker in India is basically Online broker where client open trading account online , use there online trading platform and trade himself. Discount Broker concept lunched in India in 2010.

Zerodha is Pioneer of Discount Broking concept in India. After RKSV / UPSTOX follow this concept and start offering discount brokerage to their client. Today in India more then 10 Discount Broker who offer cheapest brokerage and lowest brokerage to their respective client.

Choosing Right Discount Broker is tricky. Because more or less their Brokerage plan is same. Few below point are keep in mind when you are planning to start investing with Discount Broker.

Step By Step Guide how to select right Discount Broker for you

  • Brokerage
  • Trading Terminal
  • Branch Network
  • Customer Support
  • Broker Background and creditability
  • Products they offered

Also Read – Is Trading Possible at a Zero Brokerage Charges?

Lets Check Top 3 Discount Broker in India

  1. Zerodha–Technology driven Leading Discount Broker In India

  • Zerodha offer Zero Delivery Brokerage in Equity segment &Rs 20 or 0.01% whichever is lowest Brokerage in F&O , Commodity and Currency segment.
  • Zerodha Kite – Pi – India’s best Trading Platform for Active trader. Zerodha kite web, mobile available in Android as well as IOS. Pi – exe base trading platform where you can code , scan , back test your trading strategy before you apply in stock market
  • Zerodha – Varsity offer you in-depth knowledge about stock market trading. How to read balance sheet, how to trade in option market , how to find best pair – trading stocks , Trading and money management methods and many more.
  • Zerodha – Coin India’s 1st Direct investment mutual fund product offered by stock broker. Where you can save upto 28 lacs in 25yrs. ( calculation base on exp difference between direct mutual fund and regular mutual fund )
  • Kite – Connect India’s 1st Eco system where you can create your own trading platform and trade directly from there with help of KITE API.
  • 23 Branch Network and 6 Support call n trade offices you can reach easily. 1000+ support staff ever-ready to help you in your query.
  • Zerodha Lead the chart with 6 lacs client base with 3% market share. 
  1. RKSV / UPSTOX – start offering discount brokerage in India from 2011

  • Flat Rs 20 lowest brokerage offer by UPSTOX in all segment
  • Zero Delivery Brokerage
  • Upstox – Pro web and mobile app extremely easy to use. Sleek chart UI. 10 yr historical chart.
  • Upstox offer you online mutual fund investment option also
  • 2nd in discount broker league with 1 lac + client base.
  • 2 Branch Office and 8 Partner Office
  1. Samco :CompanyFounded byMr. Jimeet Modi in 2015

  • Indian Trading League India’s 1st Capital Market League launched by Samco
  • Trade at 20 Rs Per Order in all segment irrespective of Order Size.
  • 4x Delivery Leverage Provided by Samco
  • Free Account Opening
  • Weekly Market Outlook from CEO desk
  • 23,000+ active client base ( Oct 17 )  

In below chart you can compare top discount broker in India

Compare Top Discount Brokers in India and Select Best Stock Broker 

List of Discount BrokersAccount Opening Charges Maintenance ChargesBrokerage in NSE all SegmentsBrokerage in MCX all segmentsIntraday LeverageDelivery Leverage Margin
/Exposures in MIS(CNC)
ZerodhaRs 200Rs 300Rs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 20 times1x for CNC
RKSVRs 200Rs 150 per yearRs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 20 times1X for CNC
SAMCOZeroRs 400/yearRs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 15 times for3X for CNC
SAS OnlineRs 300Rs. 200Rs 9/tradeRs 9/tradeUpto 20 times3X for CNC
Trade Smart onlineRs 200Rs. 300Rs 15/executed orderRs 15/executed orderUpto 5 times3X for CNC
5PaisaRs. 650(1 time)Rs. 400/yearRs 10 /executed orderTrading in MCX  is not availableUpto 15 Times2X for CNC
Trade JiniRs. 300Rs 300/yearRs 20/executed orderRs 20 per executed order˜Upto 20 Times1X for CNC
ProstocksZeroRs. 1000Rs. 15/executed orderTrading in MCX  is not availableUpto 5 times1X for CNC
FyersZeroRs. 400/yearRs 20 /executed orderTrading in MCX  is not availableUpto 15 times1X for CNC

Also Read: How to Compare Brokerage Firms?