Introduction
Welcome to the dynamic world of investing, where fortunes await those who dare to venture into the stock market. Choosing the right brokerage service is paramount for success.
In recent times, discount brokers have revolutionized the industry by offering affordable trading solutions. Unlike full-service brokers, discount brokers charge a fixed fee per trade, regardless of the transaction size, enabling significant savings over time. Whether markets rise or fall, stockbrokers consistently profit.
While the cost of brokerage may seem negligible for individual transactions, the cumulative expenses can be substantial. For frequent traders, opting for a discount broker is a prudent choice, as it minimizes overheads and maximizes returns.
Join the ranks of savvy investors and empower your financial journey with a brokerage service tailored to your needs.
1. Zerodha:
Zerodha emerges as India’s top pick for cost-effective trading solutions. Boasting a vast customer base of over 6 million, Zerodha leads the pack with its pioneering fixed brokerage model.
For just Rs. 20 per trade on intraday transactions and zero brokerage on delivery, Zerodha offers unparalleled affordability.
Its user-friendly platforms feature advanced charts and integration options with tools like Sensibull, Streak, and Smallcase, catering to diverse trading needs.
Unlike other discount brokers, Zerodha ensures robust customer support from account setup to ongoing trading assistance.
With transparent pricing and innovative technology, Zerodha stands as the go-to choose for both traders and investors. Experience seamless trading experiences backed by Zerodha’s commitment to transparency and customer satisfaction.
You can expect great customer support from Zerodha starting from account opening and throughout your trading journey. With other discount brokers, you may face difficulty with their customer support.
Zerodha Brokerage Charges
| Type | Brokerage |
| Equity Delivery | Rs. 0 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.01% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.01% |
| Equity Options | Rs. 20 per executed order |
| Currency Futures & Options | Lower of Rs. 20 per executed order or 0.01% |
| Commodity F&O | Lower of Rs. 20 per executed order or 0.01% |
Zerodha Account Opening & Annual Charges
- Demat & trading account opening charges – Rs. 200
- Commodity account opening charges – Rs. 100
- Annual maintenance charges – Rs 300
2. Upstox:
Upstox stands out as a top choice among India’s discount brokers, celebrated for its intuitive platform and competitive pricing. Offering zero brokerage fees on delivery trades and a nominal Rs. 20 per trade for intraday transactions, Upstox caters to traders seeking affordability without compromising quality.
Its high-tech trading platforms provide users with advanced tools and seamless experiences, making it a preferred option for both novice and experienced traders alike. With Upstox, investors can access low-cost trading solutions coupled with cutting-edge technology, ensuring optimal performance in the dynamic stock market landscape.
Whether you’re just starting your trading journey or looking to streamline your existing strategies, Upstox offers a user-friendly and cost-effective platform to meet your needs. Join the ranks of satisfied traders who benefit from Upstox’s commitment to innovation and value-driven services.
Upstox Brokerage Charges
Upstox offers 0% brokerage on on Mutual Funds and IPOs
| Type | Brokerage |
| Equity Delivery | Lower of 2.5% or Rs 20 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.01% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.01% |
| Equity Options | Rs. 20 per executed order |
| Currency Futures & Options | Lower of Rs. 20 per executed order or 0.01% |
| Commodity F&O | Lower of Rs. 20 per executed order or 0.01% |
Upstox Account Opening & Charges
- Upstox account opening – Free
- Upstox AMC – Zero
3. Groww
Groww, headquartered in Bangalore, offers flat-fee discount brokerage services for Equity, IPOs, and Direct Mutual Funds. Established in 2016, it initially focused on direct mutual fund investments before expanding into Equity trading in the mid-2020s.
With a nominal charge of Rs 20 or 0.05% per executed trade, Groww ensures affordability for investors, capping brokerage at Rs 20 per order regardless of quantity or amount. Notably, it provides free mutual fund services, including investing and redemption.
Groww’s proprietary trading platform, available on web and mobile, boasts 128-bit encryption for security and offers a seamless user experience. With over 90 lakh users as of Nov 2020, Groww is among India’s fastest-growing platforms, highly rated on both Google Play Store and App Store.
As an online broker, Groww emphasizes investor education, offering free eBooks, blogs, and resources to empower users with stock market fundamentals. While it lacks full-service amenities like tips and research, Groww facilitates informed investment decisions through educational content and features for switching from regular to direct mutual funds.
Groww Brokerage Plan
Groww follows a fixed brokerage model wherein it charges a flat Rs 20 per executed order for Equity Delivery, Intraday and F&O trades. The maximum brokerage chargeable per order is Rs 20 across trading segments.
| Trading Segment | Brokerage Charges |
| Equity Delivery | Rs 20 per trade (or 0.05% whichever is lower) |
| Equity Intraday | Rs 20 per trade (or 0.05% whichever is lower) |
| Equity F&O | Rs 20 per trade |
You are also required to pay other transaction and regulatory charges, Demat charges in addition to the brokerage.
Other charges levied by Groww include:
- Auto square off charges: Rs 50
4. 5Paisa:
For those seeking a wallet-friendly brokerage service with robust features, 5Paisa emerges as a standout choice. With transparent flat fee pricing and no hidden costs, this discount broker offers exceptional value for investors.
Charging a mere Rs. 10 per trade on smart investor and ultra trader plans, 5Paisa stands as India’s most affordable discount broker.
Ideal for traders seeking user-friendly platforms or high-volume traders aiming to cut brokerage expenses, 5Paisa boasts the best mobile trading app in the market.
Notably, its rapid and paperless account opening process sets it apart. Within just 15 minutes, users can complete all documentation seamlessly.
With 5Paisa, investors gain access to budget-friendly trading solutions without compromising on quality or efficiency. Whether you’re a seasoned trader or just starting, 5Paisa offers a hassle-free and cost-effective platform to kickstart your investment journey.
5Paisa Brokerage Charges Details
- Zero brokerage on a stock delivery
- 5paisa offers 3 plans to customers based on their requirements. The brokerage charges are different for different plans.
Detailed 5 Paisa Charges
| Transaction | Regular Plan | Smart Investor | Ultra Trader |
| Stock Delivery | Rs. 20 per order | Rs. 10 per order | Free |
| Stock Intraday Trading | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| Stock Futures | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| Stock Options | Rs. 20 per order | Rs. 2 per lot | Rs. 2 per lot |
| Currency F&O Trades | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
5Paisa Registration & Annual Charges
- Regular Plan – No plan charges
- Smart Investor – Rs. 599 per month
- Ultra Trader – Rs. 1199 per month
Demat annual maintenance charges for different plans are.
- Regular Plan – Rs. 45 per traded month.
- Smart Investor – Free
- Ultra Trader – Free
5. Angel Broking:
Angel Broking, one of India’s premier full-service retail broking houses, presents a cost-effective option with its ‘Angel iTrade Prime’ plan. With affordable charges per executed order across various segments, investors can enjoy substantial savings without compromising on quality.
In a bid to compete with discount brokers like Zerodha and other discount brokers, Angel Broking revamped its brokerage plans in November 2019. The introduction of the ‘Angel iTrade Prime’ plan offers flat-rate brokerage across all segments, including Intraday, F&O, Currencies, and Commodities, at just Rs 20 per trade. Notably, Equity Delivery trades incur no charges, providing users with free trading in this segment.
Renowned for its superior trading software and investment advisory services, Angel Broking maintains its reputation as a leading full-service broker. By offering discount brokerage rates, Angel Broking ensures that investors have access to premium services at pocket-friendly prices, empowering them to make informed investment decisions with confidence.
Angel brokerage charges under different plans are as under.
| Segment | Brokerage |
| Equity Delivery | Flat Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.25% (whichever is lower) |
| Equity F&O | Flat Rs 20 or 0.25% (whichever is lower) |
| Currency F&O | Flat Rs 20 or 0.25% (whichever is lower) |
| Commodity F&O | Flat Rs 20 or 0.25% (whichever is lower) |
Angel One Trading Software (Angel One Trading Platforms)
Angel One offers broking services through various web, mobile, and installable exe platforms. All these trading platforms are available for free to all customers.
- Angel One App (Mobile Trading App)
An Android and iOS-based mobile application offering access to the stock market. Customers can trade in Equity, mutual funds, US Stocks, Commodities, etc through this platform.
- Angel One Trade (Website)
It is a browser-based trading platform. The rates are updated automatically. This platform is useful for investors & traders to access the market from different terminals.
- Angel SpeedPro (Trading Terminal)
A desktop app for the stock market. This platform offers clients a single-window trading experience and comes with trade monitoring capabilities.
Registration & Annual Charges
- Account opening charges are Rs 0 (Free).
- Angel One charges Rs 240 per year demat account AMC.
Angel One demat debit transaction charge of Rs 20 per ISIN (Rs 50 per ISIN for BSDA Client) per debit transaction
6. TradeSmart Online:
TradeSmart Online earns its spot in our top 10 list thanks to its customer-focused approach and budget-friendly trading options. Offering flexible subscription plans tailored to various trader needs, they ensure both affordability and quality services.
With TradeSmart Online, traders benefit from remarkably low brokerage charges, as low as 7 paise for most segments, especially for those trading smaller volumes. It’s a testament to their commitment to keeping costs down for investors.
A venture of VNS Finance, TradeSmart Online leverages over 20 years of experience in the industry. VNS Finance itself is a well-established full-service brokerage firm, adding credibility to TradeSmart Online’s offerings.
Whether you’re a novice or a seasoned trader, TradeSmart Online provides accessible and cost-effective solutions without compromising on service quality. It’s a testament to their dedication to empowering investors of all levels.
TradeSmart offers two brokerage plans:
- Value trading plan for less volume traders
- Power trading plan for big volume traders
| Ideal for smaller trade size | Power |
| 0.007% BROKERAGE | Ideal for bigger trade size |
| Brokerage: Intraday Cash, Futures, Currency, | Rs.15 BROKERAGE |
| Commodities » 0.007%, | Brokerage: Rs. 15 per executed order, regardless of the trade size or segment |
| Delivery » 0.07%, | Get intraday exposure of up to 5x on Equities, 1x on F&O, Currency and Commodities. |
| Options » Rs 7 per lot | Get Margin against shares. |
| Get intraday exposure of up to 5x on Equities, 1x on F&O, Currency, and Commodities. | No minimum commitment |
| Get Margin against shares. | |
| No minimum commitment |
You can choose anyone based on your trading preferences. The brokerage charged under both the plans are below:
7. SAMCO Securities:
SAMCO Securities has become a popular choice for traders looking for affordability and simplicity. Known as a discount broker, SAMCO offers straightforward trading platforms and reasonable transaction fees, making it an economical option for investors.
One standout feature of SAMCO is its ability to provide loans against stocks and other financial products, adding flexibility to traders’ options.
As a member of major exchanges like BSE, NSE, MCX, MCX-SX, and NCDEX, SAMCO allows trading across various asset classes including Equity, Currency, Commodity, Bonds, and ETFs.
With SAMCO, traders can access a range of trading opportunities without breaking the bank. The platform’s user-friendly interface and cost-effective solutions cater to both seasoned traders and newcomers alike.
For those seeking simplicity, affordability, and flexibility in their trading journey, SAMCO Securities presents a compelling option.
| Segment | Brokerage |
| Equity Delivery | Lower of 0.2% or Rs. 20 per order |
| Equity Intraday | Lower of 0.02% or Rs. 20 per order |
| Equity Futures | Lower of 0.02% or Rs. 20 per order |
| Equity Options | Lower of 0.02% or Rs. 20 per order |
| Currency Futures | Lower of 0.02% or Rs. 20 per order |
| Currency Options | Lower of 0.02% or Rs. 20 per order |
Samco Registration & Annual Charges
- Trading account opening charges – 0
- Demat account opening charges – 0
- Trading account AMC – Rs. 400
- Demat account AMC – 0
8. Alice Blue:
Alice Blue has carved a niche in the trading industry by delivering top-notch services at competitive rates. Their cost-effective structures appeal to traders seeking minimal expenses without compromising on quality trading experiences.
The Freedom 15 (F15) plan by AliceBlue offers a simple brokerage solution, minimizing costs for customers. This discount brokerage plan includes brokerage-free equity delivery trades, saving customers on trading expenses. For other segments, Alice Blue charges a flat rate of Rs 15 per executed order or 0.01%, whichever is lower.
Alice Blue provides online share trading platforms, including ANT (Analyse and Trade). Developed by TradeLab with Omnesys NEST backend, ANT is available across mobile, desktop, and web versions. Additionally, the company offers ANT Meta and ANT Scanner for trade analysis, ensuring traders have comprehensive tools for informed decision-making.
With Alice Blue, traders enjoy cost-effective trading solutions coupled with robust platforms for seamless trading experiences. It’s an attractive option for those prioritizing affordability and efficiency in their trading endeavours.
Alice Blue Charges 2024
AliceBlue Account Opening Fees & Annual maintenance charges (AMC)
| Trading Account Opening Charges | Rs 0 (Free) |
| Trading Annual maintenance charges (AMC) | Rs 0 (Free) |
| Demat Account Opening Charges (One Time) | Rs 0 (Free) |
| Demat Account Annual Maintenance Charges (AMC) | Rs 400 |
Alice Blue Brokerage & Fees – Freedom Plans (F15)
| equity Delivery Brokerage | Rs 0 (free) |
| Equity Intraday Brokerage | Rs 15 per order or 0.05% whichever is lower |
| Equity Future Brokerage | Rs 15 per order or 0.05% whichever is lower |
| Equity Option Brokerage | Rs 15 per order |
| Currency Future Brokerage | Rs 15 per order or 0.05% whichever is lower |
| Currency Option Brokerage | Rs 10 per order |
| Commodity Future Brokerage | Rs 15 per order or 0.05% whichever is lower |
| Commodity Option Brokerage | Rs 15 per order |
9. Wisdom Capital:
Wisdom Capital stands out as one of India’s most affordable stockbrokers, priding itself on zero brokerage plans and minimal transaction fees, making it a prime choice for high-volume traders.
Offering three distinct plans – Freedom, Pro, and Ultimate – Wisdom Capital caters to investors with varying needs and preferences. The plans differ primarily in brokerage charges, allowing traders to select the most suitable option for their trading volume and requirements.
The Freedom plan, notable for its zero brokerage charges across all segments, may appeal to many traders, although it lacks robust margin offerings. Importantly, all three plans carry the same annual maintenance charges, ensuring transparency and consistency across accounts.
With Wisdom Capital, traders can access budget-friendly trading solutions without compromising on quality service. Whether you’re a seasoned investor or just starting, Wisdom Capital’s cost-effective plans empower traders to optimize their investment strategies while minimizing expenses.
Wisdom Capital Registration & Annual Charges
- Trading account opening charges – 0
- Demat account opening charges – 0
- Trading account AMC – 0
- Demat account AMC – Rs. 999
- Wisdom Capital Brokerage Charges
| Brokerage Plan | Freedom Plan | Pro Plan | Ultimate Plan |
| Equities | Zero | 0.005% Intraday &Delivery | 0.007% Intraday &Delivery |
| Future | Zero | Rs. 9/trade | 0.005% |
| Options | Zero | Rs. 9/trade | Rs. 15/Lot |
| Commodity | Zero | Rs. 9/trade | 0.005% |
10. Tradejini:
Tradejini is celebrated as one of India’s most economical stockbrokers, offering straightforward pricing suitable for all investor types, from retail to institutional. Based in Bengaluru, Tradejini Financial Services Ltd. imposes a maximum brokerage of Rs. 20 per order, ensuring affordability for traders.
The brokerage facilitates trading across major exchanges including NSE, BSE, MCX, and MSEI, enabling investors to access a diverse range of investment options. Beyond equities and derivatives, Tradejini allows trading and investing in debt instruments, mutual funds, and ETFs.
With Tradejini, investors enjoy cost-effective brokerage options without sacrificing the breadth of investment opportunities. Whether you’re a seasoned trader or just starting, Tradejini’s simple pricing models cater to various investment needs, making it a preferred choice for those seeking affordable and accessible trading solutions.
TradeJini Brokerage Charges
| Trading Segments | Brokerage Charges |
| Equity Delivery | Rs. 20 per executed order or 0.1% of turnover whichever is lower |
| Equity Intraday | Rs. 20 per executed order or 0.01% of turnover whichever is lower |
| Futures (Equity/ Currency/ Commodity) | Rs. 20 per executed order or 0.01% of turnover whichever is lower |
| Options (Equity/ Currency) | Rs. 20 per executed order |
For using the “Call & Trade” facility, TradeJini charges Rs. 20 per executed order.
TradeJini Registration & Annual Charges
| Particulars | Fees/ Charges |
| Trading & Demat Account Opening | Rs. 0 |
| Annual Maintenance Charges | Rs. 300 per year |
11. Prostocks:
Prostocks stands out for its cost-effective brokerage charges and robust technology, ensuring seamless trading experiences across multiple exchanges. As one of the fastest-growing flat fee discount stockbrokers, Prostocks offers online trading at both BSE and NSE.
A standout feature of Prostocks is its unlimited trading plan, which allows traders to engage in unlimited Equity and Derivatives Trading for just Rs 899 per month, or unlimited Currency Derivatives for Rs 499 per month. This makes Prostocks the most affordable broker offering unlimited trading plans in the market.
With Prostocks, traders can save significantly on brokerage fees, with average savings ranging from 60% to 99% through their unlimited trading plan. This combination of economical pricing and unlimited trading options makes Prostocks an attractive choice for traders looking to optimize their trading costs while enjoying a robust trading platform.
| Trading Segments | Brokerage Charges | ||
| Unlimited Equity and Equity Derivatives trading in an exchange. | 899 | ||
| Unlimited Currency trading in an exchange | 499 | ||
| FLAT FEE PLAN | ₹ 15 |
FAQs on Best Discount Brokers in India
1. What is a discount broker?
A discount broker is a type of stockbroker that offers trading services at a lower cost compared to full-service brokers. They provide online platforms for investors to buy and sell stocks, commodities, mutual funds, and other financial instruments. Unlike traditional brokers, they usually do not offer personalized investment advice or research reports.
2. How are discount brokers different from full-service brokers?
The key difference between discount brokers and full-service brokers lies in the level of services provided and the associated costs. While full-service brokers offer comprehensive advisory services along with trading facilities, discount brokers focus primarily on executing trades at a lower commission rate.
3. Are there any hidden charges with discount brokerage accounts?
Most reputable discount brokerage firms have transparent fee structures without hidden charges. However, it’s essential to carefully review the terms and conditions before opening an account to understand any potential additional fees such as account maintenance charges or transaction fees for specific types of trades.
4. Can I trust the security of my investments with a discount broker?
Yes! Discount brokerage firms are regulated by SEBI (Securities and Exchange Board of India) just like their full-service counterparts. They are required to follow strict guidelines regarding client data protection and ensure secure transactions through advanced encryption technology.
5. Do all discount brokers provide research tools and educational resources?
While some may offer basic research tools and educational resources, most discount brokerages prioritize low-cost trading over extensive research amenities typically offered by full-service providers. It’s important to consider your own knowledge level and determine if you require additional research support when choosing a platform.
6. Is customer support reliable with discount brokerage firms?
Customer support varies among different companies; however, most reputable ones strive to provide responsive service through various channels such as phone calls, emails, live chat options or even social media platforms.
7. Can I open multiple accounts with different discount brokerage firms?
Yes, you can open multiple accounts with different discount brokerage firms.
