Top 11 Discount Stock Brokers In India

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Whether or not traders make investors on the stock market, it is a market participant who always makes money on a stock market broker. Stockbrokers make money going up or down the market. 

In recent years, discount brokers have changed the outlook of the stock market agency. Discount brokers charge fixed brokerage for every transaction, regardless of their trading volume, which helps save a decent amount of money in brokerage fees.  

You may want to pay a broker for full-service brokerage in one transaction. But if you look at the total amount you pay the broker for many transactions, you’ll probably realize you’re paying a bomb. 

If you are a frequent trader, you should opt for a discount broker instead of a full-service broker. 

Here we will evaluate the discount brokers in India, their brokerage costs, account opening costs, maintenance costs, services offered, trading platforms, advantages, disadvantages, and so on. At the end of this article, you will have a better understanding of discount brokers in India so you can choose the one that suits you best. Let’s get started!

What exactly is a discount broker?

Discount brokers offer high and low-speed brokerage and a fast platform for trading stocks, commodities, and currency derivatives. The cost of the trading brokerage with these discount brokers is lower compared to traditional Indian brokers like HDFC Securities, ICICI Direct, SBI Head, and the like.

Also, the business model of discount brokers is quite simple. They offer a fixed brokerage fee for each transaction the client performs and does not depend on the size of the transactions. This rate is usually between 10 and 20 per operation.

On the other hand, full-service brokers charge a portion of the commission on the volume of transactions. 0% commission than several transactions, 3 0.7 can be between. Therefore, as the transaction volume increases, you will have to pay more and more for brokerage.

Now that you have basic information about the discounts of the Indian and full-service brokers, talking about eight of the eight main corridors in India are worth exploring.

Also Read: How To Trade Futures And Option

Discount broker features

  1. Reduction in brokerage costs

The discount agent is known for the many discounts they offer on brokerage fees. The top 10 discount brokers currently offer a fixed brokerage rate of between 10-20 INR for each asset class or just 0.01% of overall turnover. Mediation is very low compared to other brokerage services.

  1. The online account opening process

Most discount brokers do not have a huge sales team, so the whole process of opening an account is done online or through a call line. This significantly reduces the cost of operations for these discount brokers and improves the business ROI. For this online account opening process, the solution should include PAN and Aadhaar details.

  1. No physical presence

Without a physical presence, we mean the top ten discount runners have no branches or offline presence. All its work is done from the central office.

  1. No research or advice

Discount brokers do not offer any research or advice to the customer. The list of the top 10 discount brokers does not include a huge research team that works daily and offers stock tips and reports.

  1. No fringe money

All discount brokers continue with a zero monetary policy. In the process of opening an account, they do not withdraw money from the client and open a demand and trading account with no margin. This list of the best discount brokers follows the same policy.

Best discount brokers should be

  • Reliable and reputable 
  • It charges a low brokerage fee 
  • Provide preliminary tables and tools for technical analysis 
  • Providing a platform for trade in new technologies 

Also ReadBest Stock Broker In India

# 1. Zerodha Account (Discount Broker)

Zerodha is the largest discount broker with over 12 Lakes customer centers in India and the first broker to set up fixed brokerage fees. Zerodha the fixed charge for mediating the. 20 transactions a day and no brokerage on delivery. 

Zerodha is the first choice for most traders because of the trading platforms with advanced graphics and tools. You can integrate your Zerodha account with other tools like Sensibull, Streak, and Small case. 

You can expect great customer support from the moment Zerodha opens your account and during your shopping trip. You may have difficulty with other customer service discount brokers. 

What does Zerodha do at number 1

  • The most trusted and reputable agent in India
  • Improved customer service
  • Correct the 20-day trading day
  • No intermediation in stock
  • Provides tables and introductory tools for technical analysis

# 2. Upstox (Fastest Discount Broker)

Upstox is one of the best discount brokers in India for traders looking for low brokerage, high margins, and good trading platforms.

You can trade with low brokerage costs of 20 euros and high margins of up to 28 times for profit. Distribution of stock is free for legitimate investments.  

What I like most about Upstox are the advanced and high-tech trading platforms. Upstox recently reached 10 lakh users and became the largest discount broker since Zerodha. 

What makes Upstox number no. 2

  • Open a free account 
  • Get a 500 euro brokerage credit (limited time offer) 
  • 20 / flat trading brokerage
  • Zero stocks provide brokerage 
  • Excellent trading platforms with advanced tools 

My opinion of Upstox

What I liked

  • For transportation of zero brokerage fees
  • Excellent trading platforms
  • Correction and brokerage regardless of the trading volume
  • Upstox provides a complete online account opening process 

What I didn’t like

  • You cannot invest in an FPO and IPO using Upstox
  • Open a Upstox account and get it (limited time offer)
  • Open a free account 
  • Until you get a mediation credit of up to 500 euros 

# 3. 5Paisa (Cheapest Discount Broker)

 The country is the cheapest discount intermediary in India, which charges a fixed brokerage fee. Extract 10 / titanium and platinum. 

5Paisa is best for traders who need access to easy trading platforms or for high volume traders who want to save on brokerage costs. The 5paisa mobile commerce app is the best mobile commerce app. 

The best thing about 5Paisa is the fast, paperless process of opening an account. I completed all the documentation in 15 minutes.

What does 5paisa do at number 3 

  • 10 / Cheaper brokerage fees
  • When zero mediation is introduced
  • The fastest and most complete process for opening a paperless account
  • Decent customer service
  • No brokerage in the stock market

My opinion of 5Paisa

What I liked

  • The process of opening a fast, paperless account
  • Good customer service
  • Cheaper and more stable brokerage costs (without complexity)
  • An excellent trading platform
  • Telephone handling is very expensive: Rs. 100 per call.
  • Some traders had server problems during peak trading

# 4. Wisdom Capital

Discount agent Wisdom Capital offers three investor freedom plans, a professional plan, and a final plan. Plans differ depending on brokerage costs and margins provided.

The Freedom scheme has no mediation costs in each segment but offers a good margin.

The professional and final plan matches the requirements of brokers with a higher margin, so you should pay a little higher brokerage.

The annual maintenance costs of the three accounts are the same.

My view of the Wisdom Capital

What I liked

  • Multiple mediation schemes
  • High edge
  • Some mediation

What I didn’t like

  • Poor technology
  • You cannot invest in an IPO, FPO, mutual, FD, NCD and offer of sale (OFS)
  • Higher annual maintenance costs compared to other discount brokers

#5. Samco

Samco discount brokerage is known for its low brokerage costs and its high exposure, marginal products, and free trade products.

A special feature of Samco is that you can apply for loans against stocks and other financial products.

Samco is a member of BSE, NSE, MCX, MCX-SX, and NCDEX and allows trading

  • Net worth
  • Currency
  • Goods
  • Waltz
  • ETF

My opinion of Samco

What I liked

  • Low mediation costs
  • Great edge
  • There is no charge to open an account

What I didn’t like

  • Low-performance trading platform
  • Average customer service
  • It is not supported by mutual funds and public investment

Choose Demat account according to your requirements


#6. SAS Online Discount Broker

SAS Online is a small brokerage broker for USP Rs. 9 for each part of each operation. You can trade stocks (deliveries), intraday, F&O equity, F&O currency, and commodity futures.  

Average daily turnover has SAS 10 billion. The brokerage house processes a Lakh + 1 order for clients that are distributed in more than 750 cities a day.

Domestic stores will charge 0, 01, or 9%, whichever is lower. For the maritime professions, you will have to pay 0.1 or 9%, whichever is lower.

What I liked

  • Edge available
  • Rs. 9 for each part of each operation
  • Unlimited monthly plans

What I didn’t like

  • Additional, call and commercial costs 20 per order placed
  • Rs. To open an account for 200 payments

#7. Trade Jini

TradeJini Financial Services Ltd. It is a Bengaluru based discount broker with a maximum brokerage of Rs. 20 for each order executed.   

It mediates NSE, BSE, MCX and allows MSEI to trade it. As well as equities and derivatives, you can trade/invest in debt instruments, mutual funds, and ETFs.  

What I liked

  • It allows investments in mutual funds, bonds, and ETFs
  • Flash platform that accepts financial and market news curators

What I didn’t like

  • You need a form to open a messaging account 
  • Rs. 20 charges per square intraday (MIS) for the RMS team

#8. TradingBells

TradingBells is a brokerage brand of Swastika Investment Ltd. with 80 branches and 600 franchises across India.

TradeBells also has a premium brokerage scheme, similar to a full-service stock exchange company.  

What I liked

  • Rs. 0 shipping costs as per standard plan
  • Rs. 0 AMC payments
  • Bet 22X lever for day coverage requests

What I didn’t like

  • Rs. Account opening fees 750
  • Automatic squared with 80% edge wear

#9. Tradesmart Online Discount Broker

TradeSmart Online charges one of the seven lowest brokerage countries in most segments if you trade with less volume.

TradeSmart Online has been a VNS financial discount broker for over 20 years. 

  • VNS itself is a full-service brokerage firm. 
  • TradeSmart online brokerage costs

TradeSmart offers two brokerage schemes:

  • Value trading scheme for lower volume traders 
  • Energy negotiation scheme for high volume operators 

You can choose anyone based on your business preferences. Under the mediation charged under both schemes are:

My opinion of TradeSmart Online

What I liked

  • Value trading and energy trading schemes
  • Present your resources from 7 to medium to low
  • Up to a margin of 30 times daily BO / CO applications to the NSE

What I didn’t like

  • Rs. 400 account opening fees

#10. Trade Plus

Trade Plus is an online brand of Navia Markets Ltd. with a commercial business of more than two decades. 

In addition to trading assets and derivatives, you can invest in direct mutuals, ETFs, OPCs, and bonds.

What I liked

  • Rs. 0 according to two plans for distribution professions
  • Flexible AMC plans with RS. 0 AMC first year
  • Foreign exchange and commodity trading at Rs. 19.00 on a four-way brokerage regime

What I didn’t like

  • Rs. 499 trading platform expenses
  • Rs. 75 rate for call and commercial facilities
  • Rs. For the indoor site of the day, the RMS equipment squared 75 loads

#11. Master Trust Review (MyValue Trade)

My Trust Value Master Value Ltd. is the company’s discount brokerage brand/branch. 

At present, the MyValue Trade website is no longer available or merges with Master Trust Ltd (in my opinion). Any search on the “Change my value” website returns a 404 error.

All details of Master Trust Ltd. have been found. Therefore, in the review, I have provided information for Master Trust Ltd. 

What I liked

  • The 5 executed order is free according to the mediation scheme of 2020
  • Ami Broker diagram platform connectors
  • 25% discount with an existing brokerage in my scheme

What I didn’t like

  • Rs. 100 expenses to open accounts
  • Equity where null mediation is provided only in the 2020 scheme 

CONCLUSION 

If you ask me which the best discount broker in India is, I would suggest you open an account at Zerodha.

If your priority is to choose the broker with the lowest brokerage, open a 5paisa account.

If you want to take advantage of opening a FREE account and making offers like a 500 brokerage credit, open an account at Upstox.

Choose an option and open an account right away to start saving money on brokerage. A rupee saved is an earned rupee.