Top 10 Discount Brokers in India 2020 [Updated List]
There are many discount brokers in India, Investor has to choose the right stockbroker based on their requirements. We will try to help you here give points keep in mind for choosing the best online discount broker and give also you a list of the top 10 discount brokers in India.
What is the Discount Brokerage?
Discount Brokerage Concept Launched in India 2010. A discount Broker is who offers the lowest Brokerage for buy and sell stocks to the client. However, Discount brokers not provide investment advice or research analyst reports to their client. Discount broker mainly client base is an online client. They provide an online trading terminal to their client to trade.
What stock broking is all about let’s understand till 2002 the entire industry was in paper form but after 2002 the industry adopted digitalization as in everything is in digital format for the ease of clients to bring transparency with the digitalization of stockbroking all the investments are in digital format.
For decades our broking industry has been charging client percentage-based brokerage in 2010 new revolution came in our broking industry where discount broking came into existence discount broking is where a fixed brokerage is charged per executed order and some brokers to revolutionize more have started giving delivery brokerage free. Initially, this concept faced a lot of hurdles as the acceptance was not there in the market but now more than 50 discount stock brokers are there into existence in India where they charge different brokerage and more focus is on technology and customer awareness. Let us see the top 10 discount brokers in India as they are customer-centric.
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Here we compare the top 10 discount stock brokerage firms in India
There is two types of Broker in the industry basically
Full-service brokerage basically a traditional Offline Broker where the client can visit a branch, Site trade, use brokers advisory service – Traditional broker offer almost all kind of investment option
A discount Broker in India is basically an Online broker where the client opens a trading account online, uses their online trading platform, and do the trading by himself.
There are few Leading Full Service brokers also offer online trading like – Motilal Oswal, Angel Broking, Sharekhan, Edelwise& many more … but their brokerage is quite high compare to discount broker in India Like Zerodha – Discount Brokerage, RKSV, SAS online.
Nowadays, Discount Broker Spread their wings in Broking.
Here we are trying to give you a few points which you need to watch before Choosing a Broker.
- Trading Platform
- Broker Background
- Customer Support
- Product they offer
Compare Top Discount Brokers in India and Select Best Stock Broker
|List of Discount Brokers||Account Opening Charges||Maintenance Charges||Brokerage in NSE all Segments||Brokerage in MCX all segments||Intraday Leverage||Delivery Leverage Margin|
|Exposures in MIS||(CNC)|
|Zerodha||Rs 200||Rs 300||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 20 times||1x for CNC|
|RKSV||Rs 200||Rs 150 per year||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 20 times||1X for CNC|
|SAMCO||Zero||Rs 400/year||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 15 times for||3X for CNC|
|SAS Online||Rs 300||Rs. 200||Rs 9/trade||Rs 9/trade||Upto 20 times||3X for CNC|
|Trade Smart online||Rs 200||Rs. 300||Rs 15/executed order||Rs 15/executed order||Upto 5 times||3X for CNC|
|5Paisa||Rs. 650(1 time)||Rs. 400/year||Rs 10 /executed order||Trading in MCX is not available||Upto 15 Times||2X for CNC|
|Trade Jini||Rs. 300||Rs 300/year||Rs 20/executed order||Rs 20 per executed order||Upto 20 Times||1X for CNC|
|Prostocks||Zero||Rs. 1000||Rs. 15/executed order||Trading in MCX is not available||Upto 5 times||1X for CNC|
|Fyers||Zero||Rs. 400/year||Rs 20 /executed order||Trading in MCX is not available||Upto 15 times||1X for CNC|
It leads the chart in the top 10 stock brokers in India it has a client base of 23 lakh clients they charge flat Rs 20 per exe order and the are the few with their own in-house software pi and chart-based trading.
- 1st Discount Broker in India. Pioneer of Discount Broking concept in India
- Zero Delivery Brokerage
- 20 or 0.01% whichever is the lowest brokerage in all other segments.
- Best Trading Platform – Zerodha Kite Web – Mobile, Zerodha PI
- 1st In India 10 Regional Language Trading Platform
- India’s 1st Thematic Investment Product – Small case
- Zerodha Coin – Online Direct Mutual Fund Platform( save up to 28 lacs in 25yrs go direct mutual fund )
- Zerodha Varsity – Knowledge HUB ( Interactive Blog )
- Trading QnA – Platform for all trader and investor query
- 22 Branch Office, 500 + Support Team
2. 5 Paisa
5paisa is the Discount Broking Arm of India Infoline. is backed by one of the leading financial services companies IIFL. India Infoline, the parent company, was incorporated in 1995. IIFL group offers a wide range of financial products through over 1000 branches. 5Paisa re-launched in 2015.
- The flat brokerage of Rs 10 for Equity Cash, F&O, and Currency derivative.
- 5paisa Robo Advisory
- Online Trading – Trade in Stocks, Futures & Options, and Currencies at NSE and BSE.
- Free Mutual Fund Investment Account and automated personalized advisory to investing in Mutual Fund.
- Single app for all investment – Equity Trading & mutual fund investment, IPO
- Online Insurance –term, life, auto, and health.
- Easy to use HTML based trading platform Web & Mobile.
Upstox has their own mobile software with trading, fund transfer, chart base trading they charge flat Rs20 brokerage, and zero delivery brokerage.
- Rs 20 Lowest Brokerage in all Segment
- Free Delivery Brokerage – NSE, BSE
- Own frontend trading platform – Upstox Pro – Web & Mobile
- Mutual Fund Investment Platform
- Average Customer support
In 2008 Samco start his journey. With 51432 clients on March 2020 (as per NSE UCC DATA) Samco top 4 in the discount broking league.
- Highest Leverage
- 20 per order Brokerage in Stocks, Future, Option, Commodities
- Delivery Funding up to 4x with interested charged
- Lowest Margin Requirement
- The weekly outlook from CEO desk
5. SAS ONLINE
SAS online offers the cheapest brokerage flat Rs9 per executed order they started their operations in 2013.it also provides its customer with monthly unlimited plans like 499 and 699.
- Rs 9 Flat per trade or Rs 999-month choice is yours
- 20000+ Trading member
- 7000 + Cr daily turnover
- Advance Trading Platform – Alpha Trader
6. RK GLOBAL
Rk global first started its capital market business in the year 2004 then later they started discount broking with a mere brokerage of 9 per lot the lowest in the market at that time.
- Low Account Opening Charges
- 999 Rs – Monthly or 9 Rs Per Trade Brokerage Offer
- In-house Research Team – Research Report
- 7 support Office – Decent Customer support team
TRADEJINI is the latest entry in the discount broking their founders with 3 decades of experience that have made an extraordinary presence by customer service.
- Rs 20 Maximum Brokerage in all segment
- High Exposure and leverage in Intraday
- 1st 50 trade free
- Nest Trader – Web – Mobile Trading Platform – third-party trading platform
- Other investment option Available
8. Astha Trade
Aastha Trade being a discount broker gives research reports and trading calls they charge 0.001% in intraday and 0.01% in delivery brokerage they have a prompt customer service and astha trade give 40 times exposure in intraday
Trade smart online is a subsidiary of a well renowned existing broker VNS FINANCIAL CAPITAL SERVICES LIMITED THEY CHARGE 0.007% OR RS 20 whichever is lower and to accommodate clients they have fixed monthly brokerage plans also
10. TRADE PLUS ONLINE
They are old players in the market with a changed name originally trade plus online was Navia markets limited which was established in 1983 they have zero brokerage plans in commodities in Rs99 per month. Above this, they have 5 years and 10 years AMC plans for Demat at a nominal cost
11. MY VALUE TRADE
My value trade is a trusted name from the master trust they provide flat Rs10 brokerage and also have unlimited monthly and yearly plans for clients ranging from 1000p/m to 10000/year plans
Above are the Top 10 Best Discount Broker in India and their comparison, Now you can select the right broker for as per requirements. Still, you confused allow us to call you and help you to find the best Discount Broker for you.
|UCC OF ACTIVE CLIENTS|
|SR NO||Company Name||Segment||2016||2017||Jan-19||Mar-20|
|1||ZERODHA BROKING LIMITED||ONLINE D||165586||602493||847016||1414376|
|2||RKSV SECURITIES INDIA PRIVATE LIMITED||ONLINE D||17229||45757||81166||619305|
|3||5PAISA CAPITAL LIMITED||ONLINE D||89996||434036|
|4||SAMCO SECURITIES LIMITED||ONLINE D||18176||28927||38849||51432|
|5||VNS FINANCE & CAPITAL SERVICES LTD.||BOTH||11995||19197||22091||24999|
|6||FYERS SECURITIES PRIVATE LIMITED||ONLINE D||14189|
|7||SOUTH ASIAN STOCKS LTD.||ONLINE D||9384||14882||12637||13027|
|8||R K GLOBAL SHARES & SECURITIES LIMITED||ONLINE D||9346||11367||9236||7669|
|9||COMPOSITE SECURITIES LTD.||ONLINE D||#N/A||5434||5434||1032|
|10||BEZEL STOCK BROKERS PRIVATE LIMITED||ONLINE D||1099||2869||913||411|
|11||ACTION FINANCIAL SERVICES (INDIA) LIMITED||ONLINE D||523||528||388|
|12||TRADEJINI FINANCIAL SERVICES PVT LTD||ONLINE D||0||6916||5013||0|
|13||ACHIEVERS EQUITIES LIMITED||ONLINE D||1503||3144||1269||0|
|14||ALICE BLUE SECURITIES||ONLINE D||0||0||0|
We can never eliminate the risk in investing but we can reduce it by selecting the right company and right broker. Hence; try to choose the best discount broker in India from the list of top 20 or 50 richest stockbroking companies and their Online trading platform for MCX, forex, and commodity trading.