Best Online Discount Broker in India
The best online discount broker India offers value to their customers in terms of trade platforms, pricing, services, etc. Primarily, this concept of discount stock broking follows the low stock brokerage charges without any frills attached to it. It’s quite similar to the economy flights where focus is mainly based on the low cost travel.
Similarly, in the discount stock broking, the main focus is on the low cost stock trading.
Since past 5 decades till the year 2010, the Indian share broking industry has been working with the full service share brokers which charge the clients a particular percentage of trading value as stock brokerage. Further, it’s not got anything related to the types of profit or loss that you make on these kind of trades. The stock brokerage is the definite amount which has to be offered to stockbroker. Therefore, it ends up eating a huge chunk of the profits which are earned by the investors and traders in the share market.
In the year 2010, Zerodha also introduced the concept and began charging flat fee of Rs. 20 for every executed order at Intraday level and “Zero” stock brokerage for Delivery trade. It was the first of a kind solution where the share brokers didn’t ask about the trade value. Therefore, whether you were trading with Rs. 10,000 or Rs. 10,0000 for some particular trade the stock brokerage was still Rs. 20 for that trade.
Initially, this concept was criticised with a number of doubts as well as scepticism from the community of the traders. People thought how the stock brokers were charging zero brokerage but the model of business was set at scale level or volume level. Gradually, the share broking industry of the country saw the launch of these type of businesses which charged flat fee.
The first online discount broker in India in our list is 5 Paisa.
5 paisa which was launched by the IIFL group a couple of years back, today falls amongst the top discount stock broker in the country with a couple of USPs. It is basically known for its ease of operations. It charges a low stock brokerage fee of Rs. 10 per every executed order.
It is the brainchild of IIFL, which is a prominent full service stock broker business in the country. Therefore, the factor of trust comes inherently.
A decent performing web and desktop stock trading platform also makes it the best online discount broker India. It offers free of cost research reports which is usually not offered by the discount stock brokers. Only a discount stock broker which is listed with the share market offers this service. It also offers free of cost basics of the stock market through the 5Paisa School.
Zerodha is another online discount broker India which is first discount stock broking firm in the country which was launched in 2010. The stock broker keeps coming up with a number of technology based innovation regularly for going along with the complementary partnerships for the benefits of the traders.
This stock broker is considered to be one of the top discount stock brokers in the country. It offers free of cost delivery trade with maximum brokerage of Rs. 20 in the other segments. The high techno trade platforms like Zerodha Kite Mobile, Zerodha Kite Web, Zerodha Pi, etc. It also has trading and investment education initiatives like Zerodha Open Trade, Varsity, etc. It has recently also launched a cheap mutual fund investment portal called “Zerodha Coin”. It has partnered with Small Case for a thematic investment option. Zerodha Sentinel is a very useful app which helps in setting alerts as well as notifications on the basis of the specific conditions.
The stock brokerage model of the brand is quite similar to Zerodha but it also offers low trading account related fee with main focus on the terminal trade software. It is known for a high focus on “Fyers One” which is the top trade app amongst the top discount stock brokers in the country. It offers a free of cost trading account and also charges low maintenance fee. It also offers fundamental and technical analysis tools to the clients.
Launched in 2012, this discount stock broker offers a high exposure to the clients and also remains to be the main differentiator amongst the other discount stock brokers of the country. It is known for its offerings like:
- It does not charge anything for the first 50 trading’s
- It charges a low stock brokerage with a max of Rs. 20 stock brokerage across all the segments
- It charges a relatively high trading account opening fee
- It offers multiple investment and trading products to the clients
Upstox is just like Zerodha. Whether it is the level of exposure or the stock brokerage model, this online discount broker in India has been a market leader. It’s also done quite a reasonable job of maintaining its position amongst the top discount stock brokers and it’s presently featuring in the list of the top 20 share brokers of India.
It is known mainly for:
Free of cost delivery trades
A maximum of Rs. 20 stock brokerage in the other segments with absolutely no minimum level of stock brokerage.
It also offers decent performing trade platforms significantly Upstox pro Web which is a web based browser trade application.
Free of cost Demat trading account as well as maintenance
Sometimes it also offers cashback on brokerage, however these discounts are mainly seasonal
My Value Trade
It’s the discount stock broking wing of the Master Capital, which is a veteran name in share broking space in the country. Even though it offers a low stock brokerage fee, it’s the main differentiator is fixed stock brokerage plans.
It’s known for:
- A low stock brokerage fee at flat Rs. 10 stock brokerage for every executed order
- Unlimited trade plans are also available for Rs. 1000 a month or Rs. 10,000 a year. It’s also the discount stock broker which offers a fixed rate per year stock brokerage plans.
- It has gradually improvising trade platforms
- It offers different types of trade order placements with the help of trading platforms
- It offers high margin value for the Equity Intraday investors and traders
Trade Plus is the best online discount broker India. It belongs to Navia Markets. It’s amongst the top discount stock brokers of the country due to its state of the art customer service which is usually not available with any other discount stock broker.
It is mainly known for:
- Percentage based and the monthly plans of subscription which are available for stock brokerage
- AMC for up to 5 years/10 years at a nominal cost
- A number of trade and investment products
- Initiatives for the client servicing
Just like 5Paisa, RK Global is also an online discount broker India which offers free of cost research as well as recommendations to the clients although it’s a discount stock broker. This aspect definitely helps it in cutting the crowd and in being listed amongst the top discount stock brokers of India.
It’s mainly known for:
- Low charges for opening an account and maintenance
- Plants of trade as well as subscription level which is available with a low brokerage of Rs. 9 for every executed order
- Although it’s basically a discount share broker, it offers trade calls as well as research reports
- It offers a decent client service
Even though Astha Trade is an online discount broker in India which is relatively small, the main reason which makes it popular is its range of margin. It’s mainly known for:
- Charges @0.01% at Intraday level as well as other segments
- Wide range of trade and investment products offered to the customers
- Quick and effective customer service
- The maintenance charges and the charges for opening a trading account are free
- Although it’s the discount share broker it provides trade calls as well as research reports
- It offers a high exposure of more than 40 times in the segment of Equity Intraday
Trade Smart Online
Trade Smart Online is one of the best online discount broker India. It belongs to VNS Finance which is a big financial house of the country. It has been offering multiple options to the clients. It’s still considered to be a huge discount stock broker of India.
It is known for:
- Its brokerage charges of Rs. 20 for each trade or 0.0007% whichever is low
- Quick and effective customer service
- Backing of the old and popular financial house i.e. VNS Finance
- Unlimited trade plans at subscription level
- No need of minimum balance for opening a trade account
- Annual maintenance fee is free of cost for first year
So these are some of the top discount stock brokers available in India. They offer nominal stock brokerage to the clients and thus they are so popular amongst the traders and investors.