5 Best Discount Brokers in India

By | March 7, 2019

Discount brokers in India are stock broking agency that provide trading/demat services to their customers at much lower price as compared to full service brokers.

In India we have basically two types of stock brokers – Full Service and Discount.

Full service brokers provide variety of services to their customers like research recommendations, portfolio management in addition to the basic trading/demat accounts. The charges of full services brokers are generally much higher in comparison to the discount brokers in India.

Full-service broker charges a fix percentage of the trade amount as a brokerage.

To name few of Full service Brokers in India – ICICI Direct, Axis Direct, Angel Securities, etc

On the other hand Discount brokers in India provide no frill broking accounts. They charge a flat fee’s(at very nominal cost) per trade. Discount brokers do not provide services such as Stock recommendation, research reports etc.

In 2010, Zerodha was the first to start the concept of discount broker. When launched initially people were skeptical how they will survive at such low cost pricing model. But their aim was to scale the subscriber base to large numbers and they were successful in doing that.

In the recently launched report by NSE Zerodha has attained the first position in terms of subscriber base.

Zerodha is now biggest broking firm in India 

Lets understand some of the key features of Discount Brokers in India

Zerodha

Zerodha are the pioneers in  Discount broking. They were the first to introduce the concept of Discount broking in India and have been successful in setting up the model in India.

Key Features

  • Rs 20 or 0.01% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity  trades
  •  Totally free equity deliveries
  •  No charges on Mutual Fund Investment though their coin platform
  •  User friendly trading platform such as Zerodha Kite, Kite Mobile and Zerodha Pi
  •  Zerodha Varsity: One of best course to learn about stock markets.
  •  Account Opening Charges: Rs 200
  •  Demat Maintenance Charges: Rs 300

To open New Zerodha account Click Here

Upstox

It is another discount broker in India having a fast, reliable and user-friendly trading platforms. Upstox model is more or less similar to Zerodha in terms of pricing & other features.

Key Features

  • Rs 20 or .01% (whichever is lower) for Intraday, F&O, Currencies & Commodities.
  • Option to invest in Mutual Funds available
  • Totally free equity deliveries
  • User friendly Pro web/ Pro Mobile trading platforms
  • Account Opening Charges : Rs 150(excluding GST)
  • Demat Maintenance Charges : Rs 150

To Open Upstox Account Click Here

5 Paisa

It is the 2nd Largest Discount broker in India after Zerodha. 5 Paisa is initiative of India Infoline a trusted name in Full services stock broking. It is the cheapest discount broker in India.

Key Features

  • Stock broker in India with Rs.10 brokerage per executed order(Trade & Delivery)
  • Instant Paperless Trading and Demat Account
  • Integrated Platform for Stocks, Mutual Fund, Insurance & Advisory
  • Advance web/mobile trading platform
  • Account Opening Charges : Rs 650
  • Demat Maintenance Charges : Rs 400

Samco

Samco is another low cost discount broker. One can trade Stocks, F&Os, Commodities and Currency in the samco through Samco portal.

Key Features

  • Pay the lower of  Rs 20 per executed order or 0.02% ( Trade Anything)
  • No hidden charges, software charges or turnover commitments
  • User friendly trading platforms like Samco Trader & Stock note
  • Account Open Charges – Nil
  • Demat Maintenance Charges-Rs 400

SAS Online

SAS is one of cheapest discount brokers available in India and have lumpsums plans also in case you trade large number. You can trade across equity, commodity or currency segment.

Key Features

Rs 9 or 0.01% (whichever is lower) for Intraday, F&O, Currencies , Commodities & Equity Delivery

Enjoy unlimited trading at Rs.999/month for equity segment

User friendly alpha trading platform

Account Opening Charges- Nil

Demat Maintenance Charges-Rs 200

Discount Brokers in India

                                                     Source:Data Collected from respective website of discount brokers.

In a nutshell opting for Discount Brokers is a good idea as you can save large amount of money in terms of brokerage. Only downside we have in Discount Brokers is not having a facility of recommendation and research report.

Also Read:Why invest in Direct mutual funds than Regular mutual funds?

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