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
3Upstocx / RKSV6.2/10
5Beeline Broking6.2/10
7Trading Bells6.1/10
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.

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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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