Top 10 Discount Brokers in India

Top 10 Discount Brokers in India

Top 10 Discount Brokers are ranked based on trading platform, brokerage, client base, account opening charges, annual maintenance charges and services offered.

Who is a Discount Broker?

Discount Broker is a type of stockbroker who help clients buy and sell shares at a reduced or fixed rate. Unlike full-service brokers, Discount Brokers do not provide investment tips or analyses to their clients. They just provide a trading platform through which the clients can buy and sell the shares as per their preference.

Discount Brokers are most suitable for independent traders or investors who do not want to depend on others for tips or investment advice. Investors or traders who are actively trading on a regular basis mainly choose to go for Discount Brokers as Discount Brokers charge lower brokerage or fixed brokerage.

Pros Cons

Low brokerage

Good trading platform

High transparency

Good customerservice

No local branches

Do not provide relationship manager

Do not provideany advisory service or
guidance

With a huge leap in technological advancements, the Discount Brokers have taken stockbroking industry by storm and as a result, many discount broking firms have come into existence, and its an impeding job for traders to choose the right broker to trade with.

In this review, we will list out some top, well-performing Discount Brokers.

Factors considered while ranking Discount Brokers:

  • Trading Platform
  • Brokerage
  • Client Base
  • Services Offered

Following is the list of Top Discount Brokers:

Scroll down to know brief information about them :

Rank Broker Name
1 Zerodha
2 5Paisa
3 Upstox
4 Fyers
5 My Value Trade
6 Trade Smart Online
7 Tradeplus
8 Tradejini
9 Samco
10 SAS Online

Zerodha is a discount broker established in 2010, headquartered in Bangalore. They are depository participant of CDSL and offer products like :

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
15+ Lakhs 300 300 Rs.20 or 0.01% WIL Upto 28x on
Equity Cash
&
Upto 7x on
FNO
Desktop, Web &
Mobile

5Paisa is a discount broker established in 2016 , headquartered in Mumbai. They are depository participants of NSDL & CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
2.5+ Lakhs 650 400 Flat Rs.10 Upto 20x on
Equity Cash
&
Upto 3.5x on
FNO
Desktop, Web &
Mobile

Upstox is a discount broker established in 2012, headquartered in Mumbai. They are depository participant of CDSL & NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
2+ Lakhs 0 150 Rs.20 or 0.01% WIL Upto 20x on
Equity Cash
&
Upto 3x on
FNO
Desktop, Web &
Mobile

Fyers is a Discount Broker established in 2015, headquartered in Bangalore. They are depository participant of CDSL & NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
9+ Thousand 0 400 Rs.20 or 0.01% WIL Upto 28x on
Equity Cash
&
Upto 4x on
FNO
Desktop, Web &
Mobile

My Value Trade is a discount broker established in 1985, headquartered in Ludhiana (Punjab). They are depository participant of NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
41+ Thousand 0 400 Flat Rs.10 Upto 10x on
Equity Cash
&
Upto 3x on
FNO
Desktop, Web &
Mobile

Trade Smart Online is a Discount Broker established in 1994, headquartered in Mumbai. They are depository participant of NSDL & CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
22+ Thousand 200 300 Rs.15 or 0.007% WIL Upto 30x on
Equity Cash
&
Upto 7x on
FNO
Desktop & Mobile

Trade Plus is a Discount Broker established in 1995, headquartered in Bangalore. They are depository participant of NSDL & CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
9+ Thousand 200 500 (5 yr) Rs.9 or 0.01% WIL Upto 30x-40x on
Equity Cash
&
Upto 3x on
FNO
Desktop & Mobile

Tradejini is a discount broker established in 2012, headquartered in Bangalore. They are depository participant of CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
20+ Thousand 300 400 (5 yr) Rs.20 or 0.01% WIL Upto 30x on
Equity Cash
&
Upto 6x on
FNO
Desktop, Web & Mobile

Samco is a discount broker established in 2015, headquartered in Mumbai. They are depository participant of CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
39+ Thousand 0 400 (5 yr) Rs.20 or 0.02% WIL Upto 33x on
Equity Cash
&
Upto 33x on
FNO
Desktop, Web & Mobile

SAS Online is a discount broker established in 2012, headquartered in New Delhi. They are depository participant of NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
Total Clients AOC AMC Brokerage Margin Trading Platform
14+ Thousand 200 200 (5 yr) Rs.9 or 0.01% WIL Upto 20x on
Equity Cash
&
Upto 7x on
FNO
Desktop, Web & Mobile




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