Know the 7 Best Discount Broker in India
The discount broker in India is a stockbroker that offers brokerage services at discounted prices. It offers stock and commodity trading services to its clients. Before the era of discount brokers, full-service stockbrokers were the only instrument for trading in the Indian stock market.
A full-service stockbroker charges a specific percentage (quite high) of the trade value as brokerage fees. Whereas, the best discount broker in India charges a flat fee for every transaction, i.e. as low as INR 20 per transaction for most brokers.
The best discount broker in India is also known as a flat fee or budget stockbroker and is widely accepted across the nation. Many traders and investors are already using discount broking services and are glad about the profits they make without much investment.
Why should you opt for the best discount broker in India?
Below-described is the reasons to opt for the best discount broker in India:
Low brokerage fee
Rapid trading platforms
Trading across multiple devices
No enforcement by the support team for stock selection
Online stock tutorials
Refer & earn bonus
The best discount broker in India may offer excellent trading facilities at reasonable costs, but it would be great for you to consider a few factors before selecting one. These factors include trading costs, customer service, trading tools & platforms, account opening, and annual maintenance fees.
If you are willing to start your trading journey in the stock market or searching for the best discount broker 2022 in India, below-cited is the list of Top 7 Discount Brokers:
Know the Best Discount Broker in India: Top 7
When it comes to the best discount broker in India, Upstox is a renowned name too. It offers an entirely paperless trading platform. Besides the stock market, Upstox also provides trading in mutual funds.
Free delivery trades. Maximum INR 20 per trade charges in other segments
Pro Web and Pro Mobile ( incredible trading platforms)
Multiple online tools and calculators
Mutual Fund Trading Platform available
Equity Intraday – INR 20 flat, no charges for delivery
Established in 2010 in Bangalore, Zerodha is one of the best discount brokers in India for beginner traders. It provides various trading services in Equity, Commodities, Currency, Mutual Funds, Demat Account, trading education initiatives to its clients, and multiple updated trading platforms like Kite, Coin, etc.
Trading at a flat fee as low as INR 20
Advance Trading platforms such as Kite, Kite Mobile, and Pi
Mutual Fund trading via Coin platform
Education initiatives such as Open Trade
Account opening charges: INR 200
Backed by IIFL (India Infoline), 5Paisa also offers discount broking services in India. Besides stock trading, it offers multiple services including motor, life, health insurance, etc.
The brokerage of INR 10 per executed order
Desktop and Web-based Trading
Free stock research
Account opening charges: INR 650
Maintenance charges: INR 400
Equity Trade & Delivery: INR 10 per executed order
4. SAS Online
SAS Online is a reputed name when it comes to the best discount broker in India. Its specialty is its trading platform that offers a high-speed trading experience. Below-cited is the key features of SAS Online:
The brokerage of INR 9 per trade/ Unlimited Trading at INR 999 per month
Alpha (a high-speed trading platform)
Mutual Fund Investment facility
Portfolio tracker facility on a mobile
Equity, Intraday, and delivery: INR 9 per trade
5. Trade Jini
Trade Jini is another best discount broker in India. It focuses more on technology and provides multiple trading platforms. Below-mentioned is some key features:
INR 20 brokerage across segments (maximum)
Multiple trading platforms (web and mobile-based)
Zero hidden costs & mo monthly obligation
Samco is a popular discount stock broker 2022 in India that offers various trading services at discounted prices. It enables users to trade on both desktop and mobile. Below-described is its key highlights:
Zero charges for account opening
Support services at NSE, BSE, MSEI, MCX
Trading Platform on desktop, mobile, and web
The brokerage of INR 20 per trade
Maintenance Charges of Account: INR 400.
7. Wisdom Capital
Wisdom Capital is considered the best discount broker in India by several traders, as it provides you with low brokerage plans and excellent trade experience. It offers unlimited zero brokerage trading account in 2022 under its Freedom Plan for equity, futures, and options at NSE/BSE and commodities at MCX/NCDEX. Besides lifetime zero brokerage plans, it involves many technological aspects for your convenience in online trading activities. Wisdom Capital is trending as the best discount broker in India in 2021 as well. It offers credible versions of web, desktop, and mobile applications.
Embezzlement of free trade
Cheapest Brokerage rate in the industry
Account Opening: Zero
Annual Maintenance: INR 999+ Taxes (One time for whole life)