List of Top Discount Brokers in India – Best Discount Brokers in India 2022 (Updated): With the rise of Zerodha, the first discount broker which was founded in 2010, the Indian broking industry saw a massive disruption.

As these discount brokers were offering a cheaper brokerage plan, they were able to attract a lot of customers compared to the expensive traditional and bank brokers.

After this disruption, many of the existing older brokers and firms started copying the concept and offering similar cheaper plans.

After around a decade since these brokers started getting attention, discount brokers are becoming more and more popular in recent years.

As a matter of fact, many of such discount brokers are able to outrank the well-determined and big ‘conventional’ trading firms.

As a result, to fight competition, these traditional brokers also entered the discount broking model or are planning to provide an option of discount brokerage plan to their clients too.

In this post, we are going to discuss eight of such best discount brokers in India. Here, we’ll be evaluating the discount brokers in India based on the key features like their brokerage charges, account opening charges, maintenance charges, services offered, trading platforms, pros, cons, and more.

By the end of this article, you’ll have a better understanding of the different discount brokers in India so that you can choose the one that suits you the best.

Along with the eight best discount brokers in India, we’ll also be mentioning a few additional discount brokers that are worth checking (as a bonus). Keep Reading!

What exactly is a discount broker?

Discount brokers offer low brokerage, high speed, and a fast platform for trading in stocks, commodities, and currency derivatives.

The brokerage charge while trading with these discount brokers is way lower compared to the traditional brokers in India like HDFC Securities, ICICI direct, SBI cap, Sharekhan etc. which charge hefty commissions on each trade.

Besides, the business model of a discount broker is quite straightforward. They offer a flat (fixed) brokerage rate for every trade that their client makes, and it does not depend on the size of the trades. This rate can is usually between Rs 10 or 20 per order.

On the other hand, full-service brokers charge a fraction of the fee on the transaction volume. This commission can be as high as 0.25-0.7% of the transaction volume for delivery transactions.

Therefore, as the volume of the transaction increases, you have to pay more and more brokerage.

Now that you have a basic understanding of the discount vs full-service brokers in India, let us discuss eight of the best discount brokers in India which are worth investigating.

Best Discount Brokers in India – Stockbrokers List 2022

1. Zerodha

Zerodha, founded in 2010 by Nitin Kamath, is the biggest discount in India that offers free equity and mutual fund investments and flat brokerage on Intraday & all other traders.

It has over +7.5 million clients and contributes to over 15% of daily retail trading volumes across the Indian Stock Market. Its mobile app ‘KITE’ has got over +5,000,000 downloads on the play store.

Quick fact— According to the Dec 2021 report by NSE, Zerodha is the biggest stockbroking firm in India (based on the total number of active clients), outranking many old and big broking corporates like ICICI direct, HDFC Securities, Sharekhan, etc.

Through its innovation and practical approach, Zerodha has been able to outrank all these big players.

Zerodha brokerage charges

– Free equity delivery: All your equity delivery investments (NSE, BSE), absolutely free — ₹0 brokerage.

– ₹20 intraday equity and F&O trades: ₹20 or 0.03% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity trades across NSE, BSE, and MCX.

Zerodha Demat And Trading account opening Charges:

For opening a trading and demat account at Zerodha, here are the charges:

— Equity Trading Account: ₹200

— Commodity Account:₹100

Therefore, if you wish to open the Trading, Demat & Commodity account with Zerodha, the total account opening charges will be Rs 300. Further, the annual maintenance charge (AMC) for the demat account is Rs 300.

Services offered: Zerodha offers trading and investment services in equity, derivatives, currency, mutual funds & commodities.

Trading Platforms: Kite 3.0, Kite Mobile, Console, Pi, Sentinel, Coin

Pros of Zerodha:

1. Start investing & trading with No 1 Stockbroker in India
2. Technology First Approach
3. Free Long-term Equity Delivery Trades
4. Flat max brokerage per trade is Rs 20
5. Innovative & User-Friendly trading platform
6. Big brand value and financial education materials
7. Direct Mutual Fund Investment from same demat account

Cons of Zerodha:

1. No research report, market tips/recommendations

Quick Link to open an account with Zerodha

Note: You can read the detailed review on Zerodha here.

2. Angel One (Previously Angel Broking)

Incorporated in 1987, Angel One is a big brand having +30 Years of experience in the broking world and +5 million happy customers. They have a presence in over 1800+ cities in India. Angel Broking offers the trading facility in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX. 

Although Angel Broking worked as a full-service broker and offered a percentage brokerage charge to its clients for over two decades. However, they recently changed their business model (Nov 2019) from percentage brokerage to flat rates to compete with rapidly growing discount brokers like Zerodha, 5Paisa, Upstox, etc. 

Angel Broking now offers a flat rate brokerage plan, named ‘Angel iTrade PRIME’. Here, the delivery trading is FREE of cost. And for all other segments i.e. Intraday, F&O, Currencies & Commodities, they charge a fixed rate of ₹20 per. The same simple rate is applicable across exchanges and segments.

One of the key advantages of trading with Angel Broking is that they provide personalized guidance/recommendations for investing in the stock market along with research reports on companies and many other value-adding tools and services.

Services Offered: Angel Broking offers its services in Equity, Commodity, Currency, PMS, Life Insurance, ETFs, IPOs & Mutual Funds.

Angel Broking Brokerage Charge:

1. Delivery charges: Rs 0
2. Intraday Trading: Flat ₹20 Per Trade
3. Equity F&O: Flat ₹20 Per Trade
4. Currency F&O: Flat ₹20 Per Trade
5. Commodity F&O: Flat ₹20 Per Trade

Account Opening Charges with Angel Broking:

1. Account opening charge: Rs 0 (Currently Waived)
2. Annual Maintenance Charge: Rs 240 (Rs 20 Per Month)

Trading Platform: Angel iTrade, Angel Broking Mobile App, Angel BEE

Pros of Angel Broking: 

1. Cheapest full-service broker withe personalized services
2. Expert Research Reports & market advisory
3. Fast account opening process
4. Zero Brokerage on Long-term (Delivery) Trades, 
5. Flat Rs 20 per order for all other trades, 

Cons of Angel Broking: 

1. No 3-in-1 account 
2. Call & Trade are charged extra

Quick link to open your FREE account with Angel Broking

3. Upstox

Upstox is a fast-growing discount broker, backed by a group of leading investors including Kalaari Capital, Ratan Tata, GVK Davix, etc. It is also known as RKSV. Upstox started as RKSV in 2012 and rebranded to Upstox in 2015. As of Dec 2021, Upstox has the second-highest number of active clients on NSE after Zerodha. The startup also became a unicorn in 2021 with a valuation of over $3 Billion.

Services offered: Upstox offers trading services in equity, currency, and commodity

Upstox Brokerage charges

While trading with Upstox, equity delivery trades are free of cost. For intraday trading on BSE, NSE and MCX, and F&O it is 0.05% or up to Rs. 20 per order traded. Irrespective of the order size, the brokerage cost is only Rs. 20 per order traded.

• Delivery Charges: Rs 0
• Intraday Trading: Rs 20 per executed trade or 0.05% whichever lower
• Futures Trading Charges: Rs 20 or 0.05% (whichever is lower) per order
• Options Trading Charges: Rs 20 per trade

Upstox Demat And Trading account opening Charges:

• Account opening charges: Rs 299
• Annual Maintenance charges: Rs 300

Trading Platform: Upstox Pro Web Trading Platform, Bridge for AmiBroker, Developer Console, Option Chain Tool, Upstox MF Platform

Pros of Upstox:

• Free delivery trading,
• Fast paperless demat and trading account opening,
• Margin against share is available,
• Zero Brokerage on Delivery and Flat Rs 20/order on other trades

Cons of Upstox:

• Good Till Cancelled (GTC) and Good Till Date/Time (GTD) Orders are not available
• Margin Funding not available on delivery trades

Quick link to open your account with Upstox

4. 5Paisa

5Paisa is a part of IIFL (India Infoline) and offers the cheapest stock brokerage in India. IIFL launched 5Paisa to offer a lower brokerage platform for its clients and to compete with the fast-growing discount broking industry. Along with a fast trading platform, 5Paisa also offers advisory reports and recommendations.

Services offered: Apart from trading in equity, currency, commodity, 5Paisa also offers its services in mutual funds, Insurances, Personal loans.

5Paisa Brokerage charges

5Paisa offers free trading in equity and flat brokerage in other segments. Here are the brokerage charges offered by 5Paisa:

— Delivery Trading: Rs 20 per trade
— Intraday Trading: Rs 20 per trade
— Equity Futures: Rs 20 per trade
— Equity Options: Rs 20 per trade
— Currency Futures: Rs 20 per trade
— Currency Options: Rs 20 per trade

5Paisa Demat And Trading account opening Charges:

— Account opening charges: FREE (Rs 650 Waived)

— Annual Maintenance charges: Rs 45 per month (only for months when you trade)

Trading Platform: Investor terminal web platform, trader terminal, 5Paisa share trading mobile app

Pros of 5Paisa:

1. Free delivery trading
2. A low brokerage of flat Rs 10 per trade
3. 100% paperless account investing
4. Investment in stocks, mutual funds & insurance from the same account
5. Lower maintenance charges
6. Multiple brokerage plans available based on clients preferrence offering flexibility
7. Research reports and advisory (for higher plans)

Cons of 5Paisa:

1. No 3-in-1 account
2. Higher exchange transaction charges
3. No commodity trading facility

Quick link to open your account with 5Paisa

5. Kotak Securities (Trade FREE Plan)

Kotak Securities, being a part of the Kotak group is one such broker. Traditionally a full-service broker, Kotak Securities entered the discount brokerage model in November 2020 with its Trade FREE Plan. Here, they announced zero brokerage for intraday training across segments, the first-of-its-kind plan in India. It is also known as Free Intraday Trading (FIT) plan.

In its TRADE FREE PLAN, KSL is offering zero brokerage on intraday trades and Rs. 20 per order for all other future & options (F&O) trades including equity, commodity, and currency. Here are a few of the key points on Kotak Securities Trade FREE Plan to note:

—  Zero Brokerage on Intraday Trades
— All other F&O Trades at Rs 20 per order
—  FREE Demat Account (Rs 499 Opening Charges Waived Currently)
— Full Broker Services at Discount brokerage rate offering a wide range of investment options and research reports.

The following table sheds light on the rates applicable:

• Account Opening Charges: Rs 0
• Annual Maintenance Charges: Rs 50 Per Month
• Intraday Brokerage Charges (Equity): FREE
• Delivery Brokerage Charges: 0.25% of Transaction

Pros of Kotak Securities Trade FREE Plan

Here are a few of the top advantages of Kotak Securities Trade FREE Plan:

• Zero Brokerage on Intraday Trading
• Flat brokerage of Rs 20/per order of F&O Trades
• Use of Stocks as Margin (Instead of Cash Margin)
• Full Broker Services at Discount brokerage rate offering a wide range of investment options and research reports.
• Multiple trading platforms to fulfill almost all customer requirements.
• In-depth market Market Research Reports

Cons of Kotak Securities Trade FREE Plan

Here are a few of the top disadvantages of the Kotak Securities Trade FREE Plan:

• Higher Brokerage Charge on Delivery trades compared to discount brokers
• Higher AMC compared to other leading brokers

Quick Link to open your FREE Demat Account with Kotak Trade FREE Plan

6. Groww

Groww is one of the fastest-growing investment platforms in India. Groww is the brand name for Nextbillion Technology Private Limited – a SEBI registered stockbroker and a member of NSE and BSE. Initially, Groww a Bangalore-based startup was set up in 2016 as a platform to directly invest in mutual funds. Keeping up with the increase in demand for equity trading in the midst of the pandemic the company also offered equity trading.

The vision behind the Groww App was to set up was to create a powerful yet simplest to use App for trading from anywhere. With this, the app came up with the philosophy of making “Investing should be as simple as online shopping”. Today the company offers Mutual Funds, Demat Services, Trading Services, Intraday Services, IPO Services, and Trading Exposure. 

The following table sheds light on the rates applicable:

• Account Opening Charges: Rs 0
• Annual Maintenance Charges: Rs 0
• Brokerage Charges: Rs 20 or 0.05% per executed trade (Whichever is lower)

Particulars	Groww Charges
Account Opening Charges	Free
AMC Charges	Free
Equity Delivery Trading	Rs.20 per executed order or 0.05% of order value (whichever is lower)
Equity Intraday Trading	Rs.20 per executed order or 0.05% of order value (whichever is lower)

Pros of Groww Demat & Trading Account:

1. Simple and intuitive user interface
2. One platform to invest in stocks, mutual funds, gold and US stocks.
3. Investing facility for US Stocks available

Cons of Groww Demat & Trading Account:

1. Currency and Commodity trading facility not available yet.
2. As a newer entrant, the trading platform yet to be tested to work smoothly on high trading days.

Quick Link to open your account at GROWW

7. Paytm Money

Paytm received approval from the SEBI in 2019 in order to enter the discount stockbroking segment. Paytm over the years has tried to establish itself as the one-stop platform for anything money-related in the recent past. After gaining traction post demonetization the online payments platform offered banking services, mutual fund, SIP, pension products.

Paytm’s plans to enter stock broking couldn’t have come to fruition at a better time. 4.9 Million new demat accounts were opened in the last financial year. The lockdown imposed due to the COVID-19 pandemic has forced the work from home model to be adopted. This has led to an increase in the first-time investors flocking to the stock markets with the added disposable income, as as they are forced to spend less on leisure due to the pandemic.

Here are the charges for Paytm Money Demat and Trading Account:

• Account Opening Charges: Rs. 200 – One-time Digital KYC
• Depository AMC: Zero Annual Maintenance Charges for your demat account.
• Delivery Charges:  Rs 0
• Intraday Charges: Rs 10 per trade
• Futures and Options Charges: Rs 10 per trade

Note: ₹1 per day as platform charges (billed annually for days exchange is open) (Source: Paytm Money)

— Paytm Money Delivery Charges

Charge	Delivery Rates
Brokerage	Rs. 0.01/- per executed order
Exchange Turnover Charges	0.00325% of turnover for NSE and 0.003% of turnover for BSE
GST	18% on Brokerage and Exchange Turnover Charges
Security Transaction Charges (STT)	0.1% of turnover on buy and sell orders
SEBI Turnover Fees	0.0005% of turnover
Stamp Duty	0.015% of turnover on buy orders

— Paytm Money Intraday Charges

Charge	Intraday Rates
Brokerage	0.05% of turnover or Rs. 10/-, whichever is lower
Exchange Turnover Charges	0.00325% of turnover for NSE and 0.003% of turnover for BSE
GST	18% on Brokerage and Exchange Turnover Charges
Security Transaction Charges (STT)	0.025% of turnover on sell orders
SEBI Turnover Fees	0.0005% of turnover
Stamp Duty	0.003% of turnover on buy orders

Pros of Paytm Money:

1. Big Brand with multiple investment options in the same platform
2. Lowest on Intraday – ₹10 per trade
3. Fast online account opening within minutes

Cons of Paytm Money:

1. Zero AMC but ₹1 per day as platform charges
2. As a newer entrant, trading platform yet to be tested to work smoothly on high trading days.
3. Currency and Commodity trading facility not available yet.

Quick link to open your account at Paytm Money

8. Trade Smart

Trade smart is a Mumbai, India-based discount broker good for traders and investors looking for low brokerages, high margins, and a fast trading platform. Unlike most discount brokers, Trade smart online is not a recent setup. It is a part +25 years old VNS Finance & Capital Limited, which is a traditional broker in India. It has over 100,000+ happy customers, averaging a daily turnover of over Rs. 5000 crores

Services offered: Trade smart online offers brokerage services in stock, futures & options, commodity, and currency trading segments.

Trade Smart Online Brokerage charges:

This discount broker offers a flat brokerage of Rs 15 per trade irrespective of the trading volume in its ‘Value’ trading plan.

Further, it also proposes a ‘Power’ trading plan with a brokerage of 0.007% on the transaction, which is suitable for the small volume traders. Here are the brokerage charges for delivery and intraday trading:

— Delivery: Rs 15 per trade (Power plan) or 0.07% (value plan)

— Intraday Trading: Rs 15 Per trade (Power plan) or 0.007% (Value Plan)

Trade Smart Online Demat And Trading account opening Charges:

— Account opening charges: Rs 400

— Annual Maintenance charges: Rs 300 (Second year onwards)

Right now, Trade Smart Online is offering a flat 100% off on the Account Opening Charges for the Trade Brains’ readers. You can open your FREE Trade Smart Online account by clicking this link.

Trading Platform: NEST Trader, SINE(Mobile App), SineWeb

Pros of Trade Smart Online:

1. Low and Unique Brokerage Plans,
2. Higher margin for trades,
3. Zero additional software charges,
4. Zero Demat AMC charge for the first year

Cons of Trade Smart Online:

1. 3-in-1 not available,
2. No direct IPO Investment,
3. Call and trade at Rs 20 per executed trade (plus brokerage)

Quick link to open your FREE account with Trade Smart Online

Bonus: Other Popular Discount Brokers in India

9. SAMCO

Incorporated in 2015, SAMCO is another low brokerage cost discount broker in India. However, SAMCO differs from other discount brokers by offering higher leverage for trading to its clients. Here, customers can get up to 4x Delivery Leverage in the Cash Markets, Upto 80x Leverage for Nifty, 33x leverage for stocks and 60x for commodity.

SAMCO Brokerage charges:

Here are the brokerage charges offered by SAMCO:

— Delivery Trading: 0.20% or ₹20 per trade whichever is lower

— Intraday Trading: 0.02% or ₹20 per trade whichever is lower

SAMCO Demat And Trading account opening Charges:

— Account Opening Charges: Rs 0

— Annual maintenance charges: Rs 400 (Demat account)

Services offered: Samco offers trade facilities for stocks, F&Os, Commodities, and Currency in its dashboard.

Trading platform: SAMCO Trader (Omnesys NEST Trader), StockNote (Mobile Trading App), SAMCO Web Xpress (Website), SAMCO STAR

Pros of Samco:

1. FREE Trading and Demat Account opening,
2. Excellent margin products available for traders,
3. Flat max rate Brokerage Plan Rs 20 per trade
4. AADHAAR based instant paperless account opening.

Cons of Samco:

1. Online IPO, FPO Application not available
2. Mutual Fund investment is not available
3. Doesn’t have branches to offer local offline support

Quick link to open your account with SAMCO

10. Fyers

Incorporated in 2015, Fyers is Bangalore based fast-evolving online discount stock broker founded by young entrepreneurs with broad experience in trading and the stockbroking industry. Apparently, FYERS word is an acronym of “Focus Your Energy & Reform the Self”, which represents the core philosophy of the company.

Services offered: Fyers offer services in equity Cash, F&O and Currency Derivatives segments at NSE.

Fyers Brokerage charges:

— Delivery Trading: Rs 0

— Intraday Trading:  Flat brokerage fee of maximum ₹20 per executed order.

Fyers demat and trading account opening charges:

— Account Opening Charges: Rs 0

— Annual maintenance charges: Rs 0 (Demat AMC Waived)

Trading tools: Fyers One (Trading Terminal), Fyers Markets (Mobile Trading App), Fyers Web Trader, Thematic investments

Pros of Fyers:

1. Free online account opening
2. Free delivery trading and low brokerage
3. Advanced charts, real-time screeners and analytics
4. Thematic investment platforms for investing in the latest themes
5. Moderately high exposures- Offers up to 16 times margin in equity intraday segment

Cons of Fyers:

1. Higher demat account maintenance charges
2. Slightly higher exchange transactions compared to other discount brokers

Quick link to Open Account with Fyers

11. Wisdom Capital

Incorporated in 2013, Wisdom Capital is an online discount brokerage firm providing services in stocks, futures, options on NSE and BSE and commodity trading on MCX & NCDEX. It also offers zero brokerage in its FREEDOM plan which attracts a lot of customers.

Wisdom Capital Brokerage charges:

Wisdom Capital offers three different brokerage plans to its customers: Freedom, Pro & Ultimate. Customers can choose whichever suits them the best. Here are the brokerage charges for each plans:

Freedom Plan:

1. Freedom plan offers ZERO brokerage in all segments
2. However, this plan does give a very little or no margin/exposure and hence might not be suitable for active traders.

Pro Plan:

1. The pro plan by Wisdom capital is designed for professional traders.
2. Suitable for the traders who need higher intraday exposures/margins
3. Delivery trading brokerage: 0.005% of the transaction
4. Intraday trading brokerage: 0.005% of the transaction
5. For rest, the brokerage is Rs 9 per trade (for NSE futures & options, currency & Commodity Trading at MCX).
6. Pro plan offers an intraday margin In NSE cash up to 40x MIS.

Ultimate Plan:

1. The ultimate plan is designed for high-frequency traders
2. Delivery trading brokerage: 0.007% of the transaction
3. Intraday trading brokerage: 0.007% of the transaction
4. For rest, the brokerage charged is Rs 15 per lot in options, 0.005% NSE futures, currency & Commodity Trading at MCX.
5. Ultimate plan by Wisdom capital offers intraday margin In NSE cash up to 60x MIS

Wisdom Capital Demat and Trading account opening charges:

— Account Opening Charges: FREE

— Annual maintenance charges: Lifetime 999+ Taxes

Services offered: Wisdom capital offer services in equities, future, and options, currency, and commodities on NSE, BSE, MCX & NCDEX

Trading platform: NEST Trader (trading terminal), BSE Bolt – a trading platform by BSE to trade across stocks listed on it.

Pros of Wisdom Capital:

1. Zero brokerage in FREEDOM Plan,
2. Flexible brokerage plans depending on client preference,
3. High exposure/margin in higher plans

Cons of Wisdom Capital:

1. No facility to invest in IPO, FPO, Mutual Funds, FDs, and NCDs
2. Not much focus on developing technology platforms
3. Average customer support

Quick link to open your account with Wisdom Capital.

12. Tradejini

Incorporated in 2012, Tradejini is a Bangalore based discount broker which offers a brokerage of 0.01% or ₹20 per executed order. It offers a single integrated platform for Equity, Derivatives, Commodities & Currency trading.

Tradejini Brokerage charges:

— Delivery Trading: 0.10% or ₹20 per trade whichever is lower

— Intraday Trading: 0.01% or ₹20 per trade whichever is lower

Tradejini Demat & Trading Account Opening Charges:

— Account Opening Charges: Rs 300 (Trading), Rs 300 (Commodity)

— Annual maintenance charges: Rs 300 (Demat AMC)

Services offered: Tradejini offers its services in equities, currencies, commodities and also ‘Mutual Funds’.

Trading platform: NEST Trading terminal, Web-based trader, Now mobile

Pros of Tradejini:

1. Low Brokerage Charges
2. Single trading platform for all transactions and segments,
3. In house CDSL depository participant

Cons of Tradejini:

1. Doesn’t offer 3-in-1 account,
2. No facility to invest in IPO, FPO, FDs, NCDs and Offer For Sale (OFS),
3. Only non-agriculture based commodity trading allowed
4. Does not allow GTC orders

Quick link to open your account with Tradejini

FAQs on Best Discount Brokers in India

Which is the best discount broker in India?

Zerodha is the best discount broker in India with over 7.5 million customers. If offers zero brokerage on delivery/long-term trades and Rs 20 per order for all other trades. Apart from Zerodha, a few other leading discount brokers in India are Upstox, Groww, Angel One, Paytm money, etc.

Are Discount brokers safe in India?

Discount brokers are safe in India as the brokerage industry is highly regulated and the stocks are kept with depositories, not the brokers who are merely the depository participants. All the biggest brokerage firms in India are currently discount brokers like Zerodha, Upstox, Groww, Angel One, etc, and even the traditional brokers like Sharekhan, ICIC Securities, etc have started offering discount brokerage facilities.

Which is the best broker in India?

Zerodha is currently the best broker in India in terms of the offered trading platform and the total number of active clients. However, it doesn’t offer advisory services. If you’re are looking for full-service facilities at discounted rates, Angel one is the best available alternative.

Which is the cheapest discount broker in India?

Paytm Money offers the cheapest discount brokerage in India, which a brokerage charge of just Rs 10 per trade, which is the lowest in Intraday. Other top discount brokers in India like Zerodha, Upstox, Angel one, etc offers a brokerage rate of Rs 20 per order. 

What are discount brokers?

Discount brokers are those broker that offers a lower brokerage on the stock transactions. These brokers generally offer flat brokerage (capped), high speed, and a fast platform for trading in stocks, commodities, and currency derivatives. The brokerage charge while trading with these discount brokers is way lower compared to the traditional brokers in India.

Which broker gives best tips?

Some discount brokers like Angel One offers advisory services and trade recommendations to their customers. If you are looking for tips, better go with full-service brokers like Sharekhan, Motilal Oswal, etc that offer research reports and advisory, along with trading platforms.

Which is the best full service or discount broker?

Discount brokers are better as they offer lower brokerage fees, which can help you to save a lot of brokerage money and generate higher returns. Moreover, they offer a fast and technology-first approach for trading platforms. 

Which is better Zerodha or Upstox?

Zerodha and Upstox are the two biggest stock brokerage firms in India. However, Zerodha is better is than Upstox as it offers a simple brokerage plan, a stronger focus on technology, and its continuous investment in technology to build better trading platforms, tools, and education initiatives for customers. 

Which is the best discount broker that gives advisory?

Angel one is the best discount broker that gives advisory. It is the third-largest stock broker in India in terms of the total number of active clients, after Zerodha and Upstox, where both don’t offer advisory. Angel one offers research reports, free of cost recommendations along with holding-time horizons are offered in all the segments. They also offer exclusive paid advisory services like Angel Platinum, Angel PMS, etc.

Closing Thoughts: Discount brokers in India

While choosing a stockbroker, look for the broker which offers a reasonable brokerage charge, low yearly maintenance cost, high-quality trading tools, active customer service, and no hidden account fees. Besides, put your priority and personal trading style in preference of the brokerage firm before opening your account.

These days, the discount brokers often start a new campaign every month to attract new customers by offering Zero account opening charges, referral clients benefits or even brokerage cashback. The competition among the brokers is challenging them to innovate faster, give more customer support and hence traders/investors are able to enjoy better trading facilities and services.

Need more guidance to help you pick the right online stockbroker. Here are the best resources to read further:

• Compare online Stockbroker – Best brokers list 2019
• Where to open your Demat & Trading account?
• Full-service brokers vs discount brokers: Which one to choose?