10 Best Discount Brokers in India
For more than 5 decades till 2010, Indian stock broking space had been working through full-service stockbrokers that charged clients a specific percentage of the trade value as brokerage. For instance, if you traded for a value of ₹1,00,000 then you'd be required to pay as high as ₹500 for brokerage only for that particular trade.
Furthermore, this has nothing to do with the kinds of profits or losses you make on such trades, the brokerage is a
definite amount that needs to be given to the stockbroker. Thus, it ended up eating a major chunk of profits made by traders and investors on the stock market.
This is where Discount broking concept was introduced in India. In 2010, Zerodha brought this concept and started charging a flat rate of ₹20 per executed trade at the intraday level and ZERO brokerage for delivery trades. This was first of its kind of a solution where the stockbroker did not ask you about your trade value. Thus, whether you traded for ₹10,000 or ₹10,00,000 for a specific trade, the brokerage will stay at maximum ₹20 for that particular trade.
Best Discount Brokers
- One of the cheapest stock brokers in India with ₹10 brokerage per executed order
- Child of India Infoline, one of the most prominent full-service stock broking houses in India
- Decent performing desktop and Web-based trading platforms - 5Paisa Trade Terminal and 5Paisa Trade Station
- Free Research and Reports provided
- Only Discount broker that is listed on the stock market
- First discount Stock Broker in India and is certainly one of the best discount brokers in India
- Free delivery trades with ₹20 maximum brokerage in other segments
- High tech trading platforms such as Zerodha Kite Web, Kite Mobile, Zerodha Pi etc
- Trading education initiatives such as Varsity, Zerodha Open trade
- Recently launched Zerodha Coin, a cheap mutual funds investment portal
- Partnership with Smallcase for themantic investments
- High focus on trading platforms' performance. One of the best trading application offered in the industry
- Free account opening and maintenance charges
- Brokerage at 0.01% or ₹20, whichever is lower
- Technical and fundamental analysis tools available for clients
- First 50 trades are free
- Maximum ₹20 brokerage across segments
- Provide high exposure or leverage, especially in intraday trades
- Relatively high account opening charges
- Multiple trading and investment products offered to clients
- Free Delivery Trades
- Maximum ₹20 brokerage in other segments
- Decent performing trading platforms, especially Upstox Pro Web - the web-based browser trading application.
- Free Demat account opening and maintenance
To know the rest of the stockbrokers and the complete details of this review, check Top 10 Discount Stock Brokers in India