Choosing the right best discount stock broker in India is a crucial decision that can significantly impact your investment journey. In this guide, we will reveal the best discount brokers in India, equipping you with the knowledge and insights needed to make informed decisions.
From cost-effective trading solutions to advanced trading platforms, we’ll explore the features and benefits that empower your investment potential. Get ready to discover the top investment potentials in India and take your investment game to the next level.
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Discount broker:
A discount broker is a type of brokerage firm that provides online trading services at a lower commission rate than traditional full-service brokers. Discount brokers typically offer a no-frills, self-service platform where investors can place trades and manage their own portfolios without the guidance of a financial advisor.
Discount brokers may offer a range of services including trading in stocks, options, ETFs, mutual funds, and more. They may also provide access to advanced trading tools and educational resources to help investors make informed decisions..
However, it’s important to keep in mind that the best discount stock brokers in India may charge additional fees for certain services or transactions.
- Zerodha
Zerodha is a popular discount brokerage service in India, known for its low commission rates and advanced trading platforms. Zerodha charges a flat fee of ₹20 per trade, regardless of the size of the trade, which is much lower than what traditional full-service brokers charge.
In addition to low commissions, Zerodha also offers a range of services including trading in stocks, options, commodities, and currency, as well as mutual funds and IPOs.
Zerodha’s trading platform, called Kite, is known for its user-friendly interface and advanced charting tools, which allow investors to make informed trading decisions.
Zerodha also offers a range of educational resources, including online courses, webinars, and blog articles, to help investors learn more about investing and trading.
Charges:
- Zerodha is a brokerage firm in India that offers a simple and transparent fee structure. For equity delivery, there is zero brokerage charged.
- For equity intraday or futures, the charge is 0.03% or Rs.20 per executed trade, whichever is lower. For equity options, there is a flat fee of INR 20.
- The company charges a one-time fee of Rs.200 for online account opening, while the trading account maintenance charges are free. The demat account maintenance charges are Rs.300
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2. 5paisa
5paisa is a discount brokerage firm in India that offers online trading services at low commission rates. 5paisa charges a flat fee of Rs. 20 per executed trade across all segments including equity delivery, intraday, futures, options, and currency.
In addition to low commission rates, 5paisa provides a range of trading and investment services including mutual funds, insurance, and personal loans. The company’s trading platform is known for its user-friendly interface and advanced charting tools, which can help investors make informed trading decisions.
5paisa also offers a range of educational resources such as online courses, webinars, and blog articles to help investors learn more about investing and trading. The company also provides a free mutual fund investment platform that allows investors to invest in over 1,000 mutual fund schemes from leading fund houses in India.
Charges:
- 5paisa charges a flat fee of Rs. 20 per executed trade across all segments including equity delivery, intraday, futures, options, and currency.
- There are no hidden charges or account opening fees for trading with 5paisa.
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3.Upstox
Upstox is a well-known best discount broker in India that caters to traders who seek low brokerage, high margins, and a secure trading platform. Their association with Kalaari Capital and Ratan Tata has further elevated their reputation.
Upstox offers a high-speed and reliable trading platform called Upstox Pro to some of its clients, which allows for seamless trading. The company was originally known as RKSV when it was founded in 2012 before changing its name to Upstox in 2015.
One of the standout features of Upstox is their advanced trading platforms, which use cutting-edge technology and make trading more accessible. Additionally, Upstox has introduced a completely paperless Demat opening and trading platform, which is convenient and environmentally friendly.
Charges:
- Upstox does not charge any account opening fees for trading and investment accounts.
- However, there may be certain charges associated with opening a trading and Demat account, such as Annual Maintenance Charges (AMC) and transaction charges.
- The Demat account AMC with Upstox is Rs. 300 per year, which is lower than many other brokers in India.
- There is also a Trading account AMC of Rs. 150 per year, which can be waived off if you have generated brokerage of Rs. 1000 or more in the previous quarter.
- ₹20 for Equity Intraday, F&O, Currency & Commodity*
- ₹20 Equity Delivery
- ₹20 or 2.5% (whichever is lower) per order on Stocks
- Annual Maintenance Charges ₹150 + 18% GST
- Quarterly Maintenance Charges ₹75+ 18% GST
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4. Angel One
Angel One is a well-established best stock discount brokerage in India that offers online trading services at low commission rates. The company was founded in 1987 and has since grown to become one of the largest retail brokers in India with over 1 million clients.
Angel One offers a range of trading and investment services including equity trading, derivatives trading, commodity trading, currency trading, and mutual fund investments. They also offer a range of trading platforms including Angel One App, Angel Speed Pro, and Angel BEE.
One of the standout features of Angel One is its customer support, which is available through phone, email, live chat, and social media. Additionally, Angel One offers a range of educational resources including blogs, webinars, and video tutorials to help investors learn more about investing and trading.
charges:
- Angel Broking offers different brokerage plans, each with its own set of charges. Here are some of the charges associated with Angel Broking:
- Account opening charges: Angel Broking charges a one-time account opening fee of Rs. 699 for all segments.
- Brokerage charges: The brokerage charges for equity delivery trades are zero, while for equity intraday and futures trades, the brokerage is 0.01% or Rs. 20 per executed trade, whichever is lower. For equity options trading, the brokerage charge is Rs. 20 per trade.
- Demat account charges: Angel Broking charges an Annual Maintenance Charge (AMC) of Rs. 450 per year for the Demat account.
- Transaction charges: Transaction charges are levied by the stock exchanges and depositories for every buy or sell order placed. These charges are passed on to the customers. Angel Broking charges the following transaction fees:
- Equity Delivery: NSE Rs. 325 per crore, BSE Rs. 300 per crore
- Equity Intraday: NSE Rs. 325 per crore, BSE Rs. 300 per crore
- Equity Futures: NSE Rs. 190 per crore, BSE Rs. 50 per crore
- Equity Options: NSE Rs. 5000 per crore, BSE Rs. 50 per crore
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5. Trade Smart Online
Trade Smart Online is a popular discount brokerage firm in India that offers low-cost trading and investment services. The company was founded in 1994 and is based in Mumbai. Trade Smart Online offers a range of trading and investment services including equity trading, derivatives trading, currency trading, commodity trading, and mutual fund investments.
They also offer a range of trading platforms including the NEST Trader, Sine Mobile, and Sine Web.
One of the standout features of Trade Smart Online is its low brokerage fees, which are among the lowest in the industry. They offer a range of brokerage plans including the Freedom Plan, Pro Plan, and TradeLite Plan, each with different fees and benefits.
Charges:
- The Trade Smart Online offers two different brokerage plans – the Value Trading Plan and the Power Trading Plan, with varying brokerage charges for each trading segment.
- For the Value Trading Plan, the brokerage charges are 0.07% for equity delivery, 0.007% for equity futures, equity intraday, commodities, and currency trading. For options trading, the brokerage charge is Rs. 7 per lot.
- For the Power Trading Plan, the brokerage charges are a flat fee of Rs. 15 per executed order for all trading segments including equity delivery, equity futures, equity intraday, options, commodities, and currency trading.
- In addition to brokerage charges, Trade Smart Online charges a fee for opening a demat and trading account, which is Rs. 400.
- There is also an annual maintenance charge of Rs. 300 starting from the second year onwards.
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Groww
Groww is a financial services company based in Bangalore, India. It started as a mutual fund investment platform in 2016 and later expanded its services to include discount brokerage for stock trading in 2020. Groww’s discount brokerage service allows customers to trade in stocks, exchange-traded funds (ETFs), and digital gold at a flat brokerage rate of Rs. 20 per trade.
They also do not charge any account opening fees or annual maintenance charges. Groww’s trading platform is user-friendly and allows customers to trade on both mobile and desktop devices. They also offer a range of research tools and educational resources to help customers make informed investment decisions.
Pricing:
Groww offers a flat fee pricing structure for its discount brokerage service.
- The brokerage charges for equity delivery trades are Rs. 20 per executed order, while for intraday, futures and options trades, the charges are Rs. 20 per executed order or 0.05% of the transaction value (whichever is lower).
- The trading account opening charges, as well as the trading annual maintenance charges (AMC), demat account opening charges, and demat account AMC are all free of cost.
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Also Read More:
In this post we have discussed about best discount broker in India. These brokers will help you in account opening and they will guide you for investment also.