Top Discount Brokers in India 2020
Discount brokerage is a concept originated in 2010. Top Discount brokers in the stock market is one who charges the least possible commission for buying and selling of shares, commodities and currencies. Since the inception of online buying and selling of shares through D-mat accounts there has been a cut throat competition between the entire broking community to offer the best brokerage rates.
List of Parameters Before Choosing a Discount Broker :-
There are a lot of things which one should look up to when it comes to choosing the best discount broker. These are transaction costs, the platform for trading, proportion of margin available, research and analysis of economy and customer services.
Brokerage Rates and Margin (Intraday) for Top Discount Firms :-
|BROKERAGE NSE AND MCX FUTURES (INTRADAY)||MARGIN (INTRADAY) NSE||ACCOUNT OPENING CHARGES||ACCOUNT MAINTENANCE CHARGES (w/o GST)||BROKERAGE OPTIONS
|ZERODHA||0.03 % of turnover or ₹ 20 per executed trade (whichever is lesser)||20x||₹ 200 (equity) + ₹ 100 (commodity)||₹ 300||₹ 20 per executed trade|
|UPSTOX (RKSV)||0.05 % of turnover or ₹ 20 per executed trade (whichever is lesser)||15x (basic account)||FREE||₹ 360||₹ 20 per executed trade|
|TRADE SMART||₹ 15 per executed trade||5x||₹ 200||₹ 300||₹ 15 per executed trade|
|5 PAISA||₹ 20 per executed trade||15x||FREE||₹ 540||20 ₹ per executed trade|
|SAMCO||0.02% of turnover or ₹ 20 per executed trade (whichever is lesser)||Upto 30-40x||₹ 400||₹ 300||₹ 20 per executed trade|
|₹ 9 per executed trade||12.5x||FREE||₹ 400||₹ 20 per executed trade|
|FYERS||0.03% of turnover ₹ 20 per executed trade (whichever is lesser)||15x||₹ 0||₹ 300||₹ 20 per executed trade|
|PROSTOCKS||₹ 15 per executed trade||5x||Zero||Zero||–|
|TRADEJINI||₹ 20 per executed trade||20x||₹ 300||₹ 300||₹ 20 per executed trade|
|TRADE PLUS||₹ 9 per executed trade||4x||–||–||₹ 9 per executed trade|
It has a client base of 25 lakh clients. In India Zerodha is best stock broker in India.
- Initiated the concept of discount broking
- Zero Delivery Brokerage
- Also active in offline mode of trading.
- Great customer service
- Made the back office analysing simple.
- Brokerage Charges are Rs. 20 per executed trade or 0.03% of turnover whichever is the Less (Rs. 20 per trade in options)
- Trading Platform – Kite
- Other applications by Zerodha are : Coin – Online Direct Mutual Fund Platform, Varsity – Knowledge HUB (Interactive Blog), Streak – Algo trading platform and Pulse – News updates.
2. 5 PAISA
5paisa’s parent company is India Infoline. They offer a varied range of financial products. . 5Paisa was relaunched in 2015.
- 5paisa has a unique feature of Robo advisory
- It allows trading across all segments through NSE and BSE
- Has more than 1000 branches across India.
- Provides Free Mutual Fund Investment Account
- Provides automated personalized advisory to investing in Mutual Fund.
- Also has Insurance facilities
Upstox charges flat Rs 20 per executed trade or 0.05% pf turnover whichever is less for brokerage. They provide equity delivery at zero brokerage.
- Trading platform is Upstox Pro – Web & Mobile
- Mutual fund investment is also available
- 24/7 email service for Customer support
Special Beginners plan :
- Money control pro access for 1 year.
- Stock edge membership for 3 months.
- Free online education on markets for 6 months.
- Brokerage credit for 1st month.
It was started in 2008 and has more than 6 Lakh active trading accounts.
- Provides a decent leverage margin.
- Delivery Funding up to 4x with interested charged
- Lowest Margin Requirement. (almost zero)
- The weekly outlook is a very unique feature of SAMCO. It comes from CEO desk
It provides a variety of products :
- Samco Rank MF
- Cash plus
- Stock plus.
5. SAS ONLINE
SAS ONLINE was started in 2009 and has two types of account opening (basic and premium). It has more than 50000 active accounts and its daily turnover is more than 15000 crore Rs. the daily transaction rate is more than 1 lakh orders
- It has two trading plans where brokerage is charged for Rs 9 Flat per trade or one time amount of Rs 999-month is charged.
- Advance Trading Platform – Alpha Trader
- 4 x limit for equity delivery
Fyers has more than 4500 Rs. crore of daily turnover. It provides daily market updates through blogs.
- Offers various products such as Fyers web, Fyers one, Thematic investing and Fyers market.
- Runs a 30 day free trade challenge wherein any person who does profitable trade for 30 days is given a brokerage refund.
- Charges zero brokerage for equity delivery.
- Provides Scanner and analytics for planned investing.
- Charges brokerage of Rs. 20 per executed order
TRADEJINI is the newest firm in discount broking criteria. It provides good customer service and has more than 16000 clients.
- Rs 20 per executed order is the Maximum Brokerage in all segment
- active across 925 cities in India.
- Net turnover per day is more than Rs. 2800 Crore.
- Provides financial education through JINI-Versity to its customers.
- First 50 trades executed are free (w/o brokerage)
Trade smart is a 20 year old firm. Its parent company is VNS FINANCIAL CAPITAL SERVICES LIMITED.
- It has more than 1 lakh active customers
- Daily turnover of more than 8500 crore Rs.
- Provides daily blog updates to its customers.
- Provides good technical analysis tools and excellent customer support.
They have two trading plans:
- Value trading plan – 0.007% brokerage per order.
- Power trading plan – Rs. 15 per order
9. TRADE PLUS ONLINE
The parent company of Trade Plus online is Navia Limited. It was established in 1983. They have a zero brokerage plan at Rs 99 per month. Also they provide equity delivery at Zero brokerage and have Rs. 9 per order brokerage for intraday trading.
It has high maintenance charges but has the lowest brokerage charges Rs. 15 per executed order. It has two unlimited trading plans for its customers. One is for 899 Rs./ month (equity) and other is 499 Rs./ month (currency). Call trade costs for 25 Rs (delivery) and Rs.10 (all other trades).
Best Discount Broker
Across all the brokerage firms in India Zerodha is the best discounting broker. The rates at which Zerodha offers the opportunity to trade and invest are the best that you can get. It offers zero brokerage on equity deliveries and only a margin of 0.03% or Rs. 20 on all other variations of traded securities.
Why Zerodha ?
Zerodha not only has a 24/7 online platform but also has direct link up with CDSL check up. Due to CDSL check up you can ensure pre authorisation of your transactions hence getting better security on the transactions made. Costs accrued on Zerodha’s platform are the lowest. Margin to be paid upfront is 20% of the actual transaction cost as per the SEBI guidelines. From company financials to future projections all the vital information is provided on the company in the KITE software (the software of ZERODHA for trading) and the customer support is provided 24/7 by call support during market hours and through AI after market hours.
Discount broker Zerodha is the top rated brokerage firm across all the finance websites. This is the modern era where all the transactions are done through D-mat accounts and paper is no longer in use.