An honest list of the top 10 Best Discount brokers in India with the highest number of active traders. As per data updated on 30 April 2020 on National Stock Exchange.
Discount Brokerage is very fast growing in India. Discount brokers are providing fewer services but they provide the cheapest brokerage to their client with respect to the full-service brokerage.
Discount broker suitable for that client who does trades in high volume, they can reduce their brokerage charge as a discount broker is charging very low brokerage or fixed brokerage.
Top 10 Best Discount Brokers In India 2020
|S.No.||DISCOUNT BROKERS||ACTIVE TRADER||OFFER|
|7.||Trade Smart Online||26,277|
Zerodha is one of the fast-growing Discount Brokerage firms in India, founded by Nithin Kamath in 2010, Who has more than 10 years of experience in the financial market. The company claims themselves India’s 1s Discount broker. Zerodha currently servicing more than 20 lakhs customers in PAN India. Zerodha currently charging flat Rs. 20 per Trade or 0.01% whichever will lower for Intraday and all other segments. While In Equity delivery trading there is no brokerage.
Upstox was previously known as RKSV Securities is a fast-growing discount brokerage firm founded in the year 2009 by the team of the active trader of American & European Markets. In the year 2011 – 2012 RKSV entered into retail brokering with India’s first online-only unlimited trading plan. Now Upstox has more than 6,00,000 customers in PAN India. Upstox off free Demat and trading account with ZERO brokerage for Equity delivery trading.
3. 5 Paisa
5 Paisa is a very fast growing discount broker after Upstox started in 2016 as a discount broker. 5 Paisa is promoted by the promoter of IIFL Holdings Ltd.
4. SAMCO Securities Ltd.
Incorporated in 1995. SAMCO (Formerly known as Samruddhi Stock Brokers Limited) Mumbai based India’s leading discount brokerage firm. With SAMCO you can trade in shares, commodities, and currencies.
5. Alice blue
Alice blue is a Banglore based discount stock broker incorporated in the year 2006. They offer Trading in Equity, commodities, and Currencies. They also provide depository service with CDSL.
They give the option to choose two brokerage plan to its customers. One is the traditional brokerage plan which is 0.01% for Equity Intraday and 0.10 for Equity Delivery.
2nd plan is F20 in this brokerage plan they offer flat ₹20/trade for all segments except Equity Delivery which is free under this plan.
6. Master Trust
Started in 2014 by Master Capital Services Ltd. was incorporated in 1985 is leading financial services provider in India.
7. Trade Smart Online:
Trade Smart Online is another Fast-growing Discount broker is India which is promoting by VNS Finance Ltd. Founded by the Vijay Singhania in 1994. VNS finance also provides a full-service broking service to its customer.
9. Trade Plus
Tradeplus online is a Chennai based discount brokerage company founded in 1983, After spending few initial years in Investment Services they got membership as an Equity broker on NSE in the year 1995, In 1997 they become Depository Participant with NSDL, Equity Stock Brokers in BSE in 2010 & Commodity broker on MCX in the year 2009. They offer retail brokering services in equities, commodities, and currencies. Currently, they are servicing more than 50,000 customers in PAN India.
10. SAS online:
Incorporated in 1995. SAS online (South Asian Stock ltd.) is a leading discount stock brokerage firm. They offer brokerage services for stocks, future and options, commodities, and currency trading. SAS online has started discount brokerage business in 2013 and currently, they have 25000+ customer in PAN India. Like most discount brokerage firms they have 1 centralized office located in Delhi.
From the above Top 10 best discount brokers in India, you can choose any of them to start trading in the Indian stock market. But Zerodha is No.1 in every aspect so as per me you should think about Zerodha.