Top 10 Discount Brokers in India – List of Best Discount Broker

This Article is about Top 10 discount brokers in India. Before jumping in the rating & ranking of this list of 10 Best Discount Brokers, we should know in detail about discount broker & why a stock broker is known as Discount broker.

Top 10 Discount Brokers in India

Who is a Discount Broker?

As the name suggest, Discount broker is a type of stock broking house who provides massive discount to its clients. This discount is majorly on Brokerage charges. The Discount Broker charges either flat rate for trading across all asset classes or they charge very minimal brokerage rate. Here are 5 parameters which can help recognize a discount broker.

  • Discount on Brokerage Charges
  • Online Account Opening Process
  • No Physical Presence
  • No Research or Advisory
  • Zero Margin Money

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    Lets us now look into the ranking & rating of Top 10 Discount Brokers in India

    Ranking of Top 10 Discount Brokers in India

    RankBroker NameRatings
    1Zerodha7.4/10
    2Bonanza6.3/10
    3Upstocx / RKSV6.2/10
    45Paisa6.2/10
    5Beeline Broking6.2/10
    6Mdirect6.2/10
    7Trading Bells6.1/10
    8EzWealth6.1/10
    9SAMCO5.8/10
    10Wisdom Capital5.8/10

    The above rankings are based on 5 factors which determines best discount brokers in India. These 5 Factors are:

    • Stock Broking Experience
    • Products & Services Offerings
    • Brokerage & other Charges
    • Research, Advisory & Stock Tips
    • Quality of Trading Platforms

    These factors have been discussed in detail our review of top 10 stock brokers in India


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      Now, Let us discuss the 5 features of Discount Broker

      Discount on Brokerage Charges

      Discount Broker name has come from the massive volume of discount they offer on brokerage charges. Currently these 10 best discount brokers offer either flat brokerage rate of around INR 10-20 per order for all asset classes or as minimal as 0.01% on overall turnover. This brokerage is extremely low compare to any other full service broker.

      Online Account Opening Process

      Most of the discount brokers don’t have a massive sales team, so their entire account opening process happens online or via call assisted online. This decreases the operations cost significantly for these discount brokers & improves the business ROI. For this online account opening process the prospect needs to have his/her PAN & Aadhaar details.

      No Physical Presence

      By no physical presence, we mean that these top 10 discount brokers don’t have any branch or offline presence. Their entire work happens from Central office.

      No Research or Advisory

      Discount brokers don’t provide any kind of research & advisory support to their client. Our list of top 10 discount brokers don’t have a massive research team who works on daily basis & provides stock tips & reports.

      Zero Margin Money

      All Discount brokers follow a policy of zero margin money. During account opening process they don’t take any money from the client & they open demat & trading account without any Margin money. This list of best discount broker follow the same policy.


      Conclusion of Best Discount Broker in India

      It is a very difficult process to choose 10 best discount broker from among the list of 50. But we always find our way with the help of our 5 pillar metric to determine best stock broker in India.

      Any trader who is extremely well versed with stock market & have a very good experience in this sector can open a demat account with any of these top 10 discount brokers. The trader will get low brokerage benefit & also get great experience from their robust trading platforms.


      Best Discount Broker FAQs

      Ques – Who are called discount brokers in stock market?

      Answer – Discount broker is basically a type of stockbroking firm that is the new additions to the hub of stock brokers. They do not generally provide all the services as that of the traditional brokers, but rather aim to provide discounts to all their customers. The supposed discount is levied on the brokerage fees.

      Ques – What makes Zerodha the best discount broker?

      Answer – Discount on brokerage charge, online account opening easy process, no physical presence whatsoever, and zero margin money makes Zerodha the best discount broker to have ever existed. You can trade at lower prices with them, with the best assistance to technology.

      Ques – What makes Angel Broking the best discount broker & Full Service Broker?

      Answer – The fact that Angel broking provides a multitude of benefiting stockbroking experience, products and service offerings, less brokerage charges, Research advisory and stock tips to offer, 24×7 customer support, training sessions for clients, margin funding facilityand an enormous quantity of trading platform makes it the best discount broker and a full time service brokers.

      Ques – What makes Upstox the best discount broker?

      Answer – Upstox charges really less commission on every order you make and gives you enough tools to evaluate and study the market all on your own. Upstox provides its customers with more than hundred charts and feasible data for them to make a tactful decision.

      Ques – What makes 5Paisa the best discount broker?

      Answer – This company offers enough online stock broking services for all its customers and their key features include online trading at BSE, NSE and MCX. At absolute cheap prices, this stock broking house provides the best of technology assistance and trading services & products.

      Ques – Why you should choose Discount broker for opening Demat account?

      Answer – If at all you are thinking of trading then opening an account to discount broker is pretty advantages. They provide you with a quick trading platform and charges extremely low brokerage which is a powerful tool for every trader to save and score more profit.

      Ques – Which discount broker has the best trading app?

      Answer – Zerodha’s ‘Kite’ is a mobile app that has come of tremendous value and is shining as the best trading app. That app has a very customer friendly experience and it is pretty easy to use. One of the most deadly features is manifold market watch with the detailed information about the live market.

      Ques – Which discount broker gives maximum exposure for intraday?

      Answer – Reliance Securities gives up to 10x margin for intraday trading. It stands at a notching height beating every other firm there is. With maximum benefit and low brokerage, this should make all your investments procure high profits throughout the year.

      Ques – Which discount broker opens demat account instantly?

      Answer – With a seemingly smooth 9.6/10 rating, extremely low brokerage charges and an easy online account opening process, Zerodha marks itself to be one of the most leading firms to have existed. You can seamlessly get started with them instantly.

      Ques – How to open instant Demat account with discount brokers?

      Answer – All you have to do is select the best discount brokerage firm you wish to invest in, for instance, Zerodha, fill the account opening form given on the website, upload your documents and go ahead with the KYC, make the payment and once you are verified, you will get the account details in your respective email ID.


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        List of all Discount Brokers in India –

        Zerodha , 5Paisa , Upstox / RKSV , Samco , SAS Online , Wisdom Capital , Trade Smart Online , Tradejini , Beeline Broking , Compositedge , RK Global , Achiievers Equities , Bonanza Portfolio , MDirect , TradingBells , EzWealth , Fyers

        List of Stock Broking Franchise in India –

        Angel Broking Franchise , Kotak Securities Franchise , ICICI Direct Franchise , Sharekhan Franchise , Motilal Oswal Franchise , IIFL Franchise / India Infoline Franchise , SMC Franchise , Nirmal Bang Franchise , Sushil Finance Franchise , Profitmart Franchise

        Important Blog Posts –

        Top 10 Stock Brokers in India , Best Stock Broker in India , Top 10 Intraday Trading Brokers in India , Top 10 Sub Broker Partner in India , Best Demat Account in India , Full Service Broker vs Discount Broker in India , 10 Best Practices of Share Market Investment , Mutual Fund vs Real Estate Investment

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