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Top 10 Discount brokers in India

Top 10 Discount Brokers In India 

Zerodha

Zerodha, India’s first discount broker was incorporated in the year 2010. 

It facilitates free trading in equity delivery at low brokerage charge of Rs 20 or .01% whichever is lower. Furthermore, it also offers NRI Trading facility at brokerage charge of INR 200 or 0.1% per order whichever are lower for equity delivery and Rs 100 per order for equity F&O.

 Zerodha has its trading application called ‘Zerodha kite’ and also back-office software for customer support called ‘Console’. All these trading terminals and software are available to its customers free of cost. 

Other than this it also offers educational facility through ‘Varsity’, trading Q&A and YouTube channel. 

Zerodha is the first broker in India to provide Direct Mutual Fund investment facility to its customers for free, through an online platform called ’ Coin’. This discount broker has also partnered with Thomson Reuters to provide research reports to investors.

Service/Product Rating(out of 10)
Customer Service 8
Web Trading Platform 8
Mobile Platform 9
Educational Material 7
Brokerage 8

Therefore, Zerodha is one of the most technologically advanced stockbrokers of India. 

Unlike other discount brokers, Zerodha has an offline presence through its 22 branch offices, 94 partner offices, and 6 support offices. 

Zerodha is a leading discount broker in India with almost 8.5 lakh customers and contributes almost 10 % of daily retail trading in NSE, BSE, and MCX. 

Upstox

Upstox, previously known as RKSV Securities., was founded in the year 2012 by Raghu Kumar, Ravi Kumar, and Shriniwas Vishwanath. 

Upstox facilitates trading in various segments such as currency, futures, options, commodities, and equities through its trading platforms namely Upstox Pro Web and Upstox Pro Mobile.

Service/Product Rating(out of 10)
Customer Service 5
Web Trading Platform 7
Mobile Platform 6
Educational Material 6
Brokerage 8

This discount broker is funded by a group of investors which includes Ratan Tata, Kalaari Capital, and GVK Davix.

Other than all this Upstox also offers it’s 2 lakh customers ’trade academy’ through which it organizes offline seminars to educate the investors.

SAS Online

SAS Online is one of the more experienced discount brokers in India. Incorporated in 2013 as the discount broking arm of South Asian Stock Limited, SAS Online has grown at a rapid pace acquiring new customers at a fast speed.

They are a depository participant with NSDL and allows its customers to trade in Equity cash, Intraday, futures and options, currency and commodities on NSE, BSE, and MCX. 

Service/Product Rating(out of 10)
Customer Service 6
Web Trading Platform 6
Mobile Platform 5
Educational Material 5
Brokerage 8

The company originally started as a team of 3 people and gradually went on to grow in terms of clients and working professionals. They have a centralized office in Delhi and don’t have any branches thereby leveraging technology and saving costs on real estate, HR and other operational costs.

ProStocks

ProStocks is a discount broking subsidiary of Sunlight Broking venture. It has a corporate office in Mumbai and was founded in the year 2016. 

This discount broker is well known for its unlimited trading plans flat which are the cheapest unlimited trading plans. 

Furthermore, ProStocks charges flat INR 15 per executed order irrespective of the size of the order. 

Service/Product Rating(out of 10)
Customer Service 5
Web Trading Platform 5
Mobile Platform 5
Educational Material 6
Brokerage 8

ProStocks also offers its customers custom built trading platform through an easily installable trading terminal, website and mobile app free of cost. 

In addition to all this, ProStocks also offers 2 in 1 account opening facility together with free call & trade facility to its 2500 active customers. 

5 Paisa

IIFL launched 5 Paisa as it’s discount broking subsidiary in the year 2007. Currently, 5 Paisa is the second-largest discount broker in India.

 The brokerage charges that are charged by 5 Paisa is very low that is only INR 10 per transaction. 

It facilitates customers to invest in a variety of financial assets like mutual funds and insurance. 

Service/Product Rating(out of 10)
Customer Service 5
Web Trading Platform 6
Mobile Platform 6
Educational Material 6
Brokerage 7

5 Paisa offers its customers quite decent desktop and web-based platforms and also gives automated recommendations for mutual fund investments. Moreover, it has also collaborated with Marketsmith Online to offer it’s 1,22,500 customers high-quality research reports. This discount broker has separated from its parent company and is now functioning as a separate entity. It is the only discount broker, which is listed on the stock markets.

Wisdom Capital

Wisdom Capital is a discount brokerage subsidiary of Ashler group of companies and was incorporated in the year 2013. It offers financial services like futures, options, currencies, commodities, and stocks. 

Wisdom Capital Group offers broker-assisted trade execution through its 250 offline franchisees as well as automated online investing on all the stocks in BSE and NSE to its 5200 clients. 

Service/Product Rating(out of 10)
Customer Service 5
Web Trading Platform 5
Mobile Platform 5
Educational Material 6
Brokerage 8

Other than that, they also provide tools like live data, charting, live, etc. either free of cost or at a minimal fee. 

Wisdom Capital offers precious metal futures though it’s trading platforms. It facilitates seamless investment in agricultural, non- agricultural and metal commodities. 

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Thursday, 24 October 2019

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