List of Top 10 Discount Brokers in India

 

List of Top 10 Discount Brokers in India

Top 10 Discount Brokers in India are known to offer better investing tools than others, and they provide low brokerages fee. With discount brokers, you can either perform a trade on web automatically through a computerized trading system or call in your order with a broker over the phone.

1. Zerodha Broking Limited

Zerodha is largely known for introducing the concept of discount broking in the year 2010. By bringing a first of its kind of brokerage model, Zerodha Stock broker is considered among the fastest and the largest growing discount brokers in India. Backed by sophisticated technology, great trading tools, and three-way trading platform also considered as best trading platform in India,

Zerodha is principally known as the largest discount broker and 3rd largest stock broker in India preceded by ICICI Direct and HDFC Securities. There are various reasons why Zerodha is a leader – low brokerage, great exposure and 100% web-based broker.

2. Upstox (RKSV)

Another big name in the field of discount broking is Upstox, the Best stock broker in India. Boasting of cutting-edge tools to free trade option and value-centric education, Upstox leads the way in the most impressive way.

There is free brokerage on equity delivery trading and trading in Equity, F&O, and Equity Intra Day. An investor can trader on Commodities and Currency Derivates at just Rs. 20 per order.

3. 5 Paisa

Powered by IIFL, 5 Paisa is much like a full-service broker in a discounted avatar. It offers a wide range of services including credit and finance, asset management, wealth management, financial product offerings, investment banking, stock and currency broking, Mutual Funds, IPOs, ETF, Bonds, insurance and advisory services.

It allows trading across Equity, F&O and Currency on NSE and BSE at a discount brokerage of Rs. 10 per executed order. 5 Paisa recently announced Zero Account Maintenance Charge with effect from 1st January 2021. Now you need not pay any demat account maintenance charge (AMC).

4. Samco

Samco Securities offers another impressive online discount brokerage service to investors and traders. Samco product suite offers Samco Trader for trading from desktop, Samco Mobile Trader for trading from iOS/Android platform, Samco Web as a web- based trading platform, Algorithmic trading for more frequent traders, Samco Star for back office management.

In terms of brokerage charges, Samco is very much similar to other players in the domain. It is 0.02% or Rs. 20 per executed order, whichever is lower.

5. Wisdom Capital

Another new yet rapidly developing Best discount broker in India is Wisdom Capital. Wisdom Capital offers trading services for stocks, futures, options on NSE and BSE. It also supports commodity trading on MCX & NCDEX. It is considered among best stock brokers in India and initially offers three brokerage plans:

• Freedom Plan: Trading across all segments (BSE, NSE & MCX) at 0 brokerage. This enables extremely little margin/exposure.
• Pro Plan: Known for professional traders, this plan charges brokerage in NSE equities 0.005% intraday and delivery. Brokerage in NSE futures, options and MCX is Rs.9 per trade.
• Ultimate Plan: Most suited to high frequency traders searching for the best margin/exposure. Brokerage in NSE equities is 0.007% Intraday & delivery. The brokerage is 0.005% NSE futures, currency & commodity trading at MCX and Rs.15/lot in options.