Best Discount Brokers in India 2024 (Updated): With the rise of Zerodha, the first discount broker that 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 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 become more and more popular in recent years.
Many such discount brokers can 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 key features like their brokerage charges, account opening charges, maintenance charges, services offered, trading platforms, pros, and 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!
Table of Contents
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 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.
12 Best Discount Brokers in India – Stockbrokers List 2025
Best Discount Brokers in India #1 – HDFC Sky
Launched in 2023 by HDFC Securities, HDFC SKY is a prominent discount broker in India, known for offering a flat brokerage of ₹20 per order on intraday and delivery trades across equity, F&O, currency, and commodity segments. As a top choice among discount vs full-service brokers in India, HDFC SKY stands out with its cost-effective pricing and user-friendly platform.
HDFC SKY provides a streamlined experience for traders and investors of all levels. The platform offers access to a diverse range of investment opportunities through Investment app, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, and US equities.
HDFC SKY Brokerage Charges:
- Flat Brokerage: ₹20 or 2.5% (Whichever is Lower) on intraday and delivery trades across equity, F&O, currency, and commodity segments.
- Free Trading and Demat Account: Zero opening charges.
- Zero Annual Maintenance Charges (AMC): For the first year.
Services Offered:
- Equity Trading: Access to over 3,500 stocks listed on BSE and NSE for both intraday and delivery trading.
- Futures and Options (F&O): Trading in equity futures and options with advanced tools for analysis and strategy development.
- Commodity Trading: Engage in trading commodities such as gold, silver, and agricultural products.
- Currency Trading: Trade in currency futures and options, including major pairs like USDINR and EURINR.
- Mutual Funds: Invest in over 2,000 mutual funds across various risk levels and themes from more than 29 fund houses.
- IPOs: Apply for initial public offerings (IPOs) directly through the platform, with seamless UPI integration for easy transactions.
- Global Investments: Opportunities to invest in US stocks and ETFs, including fractional shares.
Additional Features:
- Research and Advisory: Access to trading calls, research reports, and expert advisory services to assist in making informed investment decisions.
- User-Friendly Platforms: HDFC SKY provides a mobile app and web platform with customizable dashboards, real-time market data, and educational resources.
- Margin Trading Facility: The “Buy Stocks Pay Later” (BSPL) feature allows for margin trading with competitive interest rates.
- Educational Resources: A dedicated section for learning, including articles and audio-visual materials to enhance market knowledge.
Trading Platforms:
HDFC SKY Android App, iOS App, and Web Trading Platform
Pros of HDFC Sky:
- Cost-Effective Brokerage: HDFC Sky offers a flat brokerage fee of ₹20 per executed order across various trading segments, including equity, derivatives, currency, and commodities.
- Diverse Investment Options: Investors can trade in a wide array of assets, including Indian and US stocks, mutual funds, ETFs, futures, options, currencies, and commodities. The platform also allows fractional investing in US stocks, making it accessible for smaller investors.
- User-Friendly Interface: The HDFC Sky app and web platform are designed for ease of use, featuring customizable dashboards, real-time market statistics, and advanced order types like bracket orders and cover orders.
- No Initial Charges: There are zero account opening charges and no maintenance fees for the first year, which lowers the barrier to entry for new investors.
- Research and Advisory Services: HDFC Sky provides access to fundamental and technical research reports, stock recommendations, and market insights, which can aid investors in making informed decisions.
Cons of HDFC Sky:
- Limited Advanced Features: HDFC Sky currently lacks certain advanced trading features such as algorithmic trading and digital gold investment options, which may limit its appeal to more sophisticated traders.
- Delivery Charges: While the platform offers low brokerage fees, delivery trading is not free, which could be a drawback for investors focused on long-term stock holdings.
Click here to Open Demat Account with HDFC Sky and start your journey towards smart investing today!
Best Discount Brokers in India #2 – 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 +1 Crore 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), are 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, the total account opening charges will be Rs 200.
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:
- Start investing & trading with No 1 Stockbroker in India
- Technology First Approach
- Free Long-term Equity Delivery Trades
- The flat max brokerage per trade is Rs 20
- Innovative & User-Friendly trading platform
- Big brand value and financial education materials
- Direct Mutual Fund Investment from the same demat account
Cons of Zerodha:
- No research report, market tips/recommendations
Quick Link to open an account with Zerodha
Best Discount Brokers in India #3 – Alice Blue
Alice Blue was established in December 2006 in Erode, Tamil Nadu, with only five employees and an MCX membership. Alice Blue commenced operations in 2007 as a discount broker, with all activities running from Chennai. In 2017, the company’s headquarters were relocated to Bangalore.
Alice Blue grew from a team of 5 to a staff of around 400 employees, 12000 partners, and about 5 lakh clients with a Pan-India presence in 20 major cities.
Alice Blue is a long-standing member of several exchanges, including the MCX, NSE, NCDEX, MCX-SX, BSE, and CDSL.
The Freedom 15 Brokerage Plan by Alice Blue was designed to create a competitive pricing structure in the Indian Stock Broking Industry. Alice Blue charges ₹15 for Intraday and F&O Trading along with FREE Equity, IPO, and Mutual Funds Investments. They also don’t levy clearing member charges.
You can save more than ₹13200 annually with Alice Blue’s Freedom 15 Brokerage Plan.
Key Features of Alice Blue:
- Zero Hassles: No account opening charges. Zero brokerage on equity delivery & mutual funds. Free IPO investment.
- Affordable Trading: Just ₹15/order across NSE, BSE & MCX. Save more than ₹ 13200 every year.
- Advanced Tools: Free API.
- Nationwide Support: Pan India multilingual branch support.
- Versatile Trading: Trade in any segment with a single margin.
- Share Pledge: Pledge shares without POA for a seamless experience.
- Maximize Your Profits: Benefit from 4x margin on CNC orders & 5x on intraday orders
Alice Blue Trading Platforms: ANT Mobi 2.0 (Mobile App), ANT Web (Web Trading Platform)
ANT Mobi 2.0 Features:
- Personalized Dashboard: Customize to fit your preferences.
- Advanced Analytics: Stock and options screeners to help you make informed decisions.
- Deeper Market Insights: Dive deep into the market depth & get more insights.
- Effortless Investing: Introducing Basket Orders & sector-wise predefined baskets.
- Simplified Options Search: Find contracts in seconds.
- Technical Analysis: Boosted with 100+ indicators.
- Stay Updated: In-app news keeps you informed.
- Speedy Transactions: Superfast funds paying & payout.
- Secure Access: Fingerprint login for enhanced security.
- Strategic Insights: Predefined support & resistance levels for any stock.
- Trade On-The-Go: Direct trading from option chain & inbuilt stock fundamentals.
ANT Web Features:
- Trade From Charts: Save every second! Execute trades directly from charts for efficient trading.
- Position Analytics: Get an in-depth analysis of potential profits and losses for Every FNO Trade.
- Futures & Options Strategy Builder: Pre-built, Customizable Futures & Options Strategy Builder Completely Free!
- Multiple Charts: View and analyze multiple stocks simultaneously with the convenience of a multi-chart display.
Multi-Functional Option Chain: Option Greeks, Trade from Option Chain, Option vs OI – ALL IN ONE PLACE
Best Discount Brokers in India #4 – blinkX by JM Financial
BlinkX by JM Financial, is a modern investment app designed to streamline trading activities for users, offering unlimited trading on NSE F&O, Equity Intraday and Delivery. With JM Financial’s rich legacy of over 50 years, BlinkX ensures a seamless trading experience through its user-friendly interface.
BlinkX introduces a simplified subscription plan. Intraday and Delivery trading is brokerage-free, in IPO, Equity, NSE F&O and Currency. Their clients can benefit from personalized guidance and recommendations for stock market investments, along with comprehensive research reports on companies that come straight from the experts at JM Financial services, making BlinkX an advantageous platform for traders and investors alike.
BlinkX Subscription Plan:
BlinkX offers multiple subscriptions starting from ₹249 for 2 months, ₹599 for 6 months and ₹899 for 12 months. They last for 2, 6 and 12 months respectively from the day you open your account. Unlock unlimited trading in NSE F&O, Equity Intraday and Delivery.
Key Features of BlinkX App:
- Watchlist: Monitor using technical indicators, heat maps, and options lists.
- Dashboard: Customize your trading space with 20+ widgets.
- Research: Access daily calls categorized by long-term, short-term, and mid-term; execute trades with a single click.
- Manage Your Holdings: Benefit from dedicated CNC stocks, MTF stocks.
- Other Services: Access to 70+ reports on WhatsApp, engage in live chat for assistance, and enjoy personalized support from a dedicated RM.
Subscription Details:
- Subscription Cost: Starting from ₹249 for 2 months (6 & 12-month plans also available)
- Duration: 2, 6 or 12 months from the account opening date, depending on the plan of choice
- AMC: No charge for the first year. ₹300 Second year onwards
Brokerage Charges by BlinkX:
- Equity Delivery: ₹0
- Equity Intraday: ₹0
- NSE Futures: ₹0
- NSE Options: ₹0
- Currency Futures: ₹0
- Currency Options: ₹0
Pros of BlinkX:
- Value for Money makes trading cheaper with no brokerage.
- Expert Research & Personal Relationship Manager.
- Easy account opening process.
- Zero Fund Transfer Charges.
Cons of BlinkX:
- Web Platform under development.
Click Here to open an account with blinkX
Best Discount Brokers in India #5 – Shoonya
Shoonya is a zero-commission, discount brokers in india. It is a multi-asset trading and investing platform by Finvasia that offers zero brokerage on equity delivery, IPOs, mutual funds, and bonds, and a flat ₹5 per executed order on intraday, F&O, and currency trades. That means you can invest freely and trade actively with minimal cost.
Launched with the mission to make financial markets truly accessible, Shoonya has quickly gained popularity among cost-conscious traders and long-term investors in India. The platform supports trading across NSE, BSE, MCX, and NCDEX, offering access to equity, derivatives, commodities, and currency markets, all in one place.
Shoonya is among India’s only truly zero-commission platforms, with 16+ zero-cost features that include free account opening, no AMC, and zero platform or data charges, making it one of the best discount broker in india.
Shoonya Brokerage Charges:
- ₹0 brokerage on equity delivery, IPOs, mutual funds, and bonds
- Flat ₹5 per executed order on intraday, futures & options, and currency trades
- ₹0 hidden fees: No platform charges, no call & trade fees, no subscription costs
Shoonya Demat and Trading Account Charges:
- Account opening charges: ₹0
- Annual maintenance charges (AMC): ₹0
- Platform and data charges: ₹0
- Upfront or subscription fees: ₹0
Shoonya is a zero brokerage broker offering a truly zero-cost experience for investors and traders alike.
Services Offered by Shoonya:
Shoonya allows users to trade and invest in:
- Equity
- Futures & Options
- Currency Derivatives
- Commodities
- IPOs
- Mutual Funds
- Bonds
- ETFs
Trading Platforms by Shoonya:
- Shoonya Web Platform
- Shoonya Mobile App (Android & iOS)
- Shoonya Desktop App
- Integrated access to back-office reports and AI-powered insights
Pros of Shoonya:
- ₹0 brokerage on equity delivery, mutual funds, bonds, and IPOs
- ₹5 flat fee on intraday, F&O, and currency trades
- No account opening or maintenance charges
- Trade across NSE, BSE, MCX, and NCDEX
- AI-powered insights
- 16+ truly zero-cost features for traders and investors
- SEBI-registered and regulated platform
Cons of Shoonya:
- Does not offer in-house research reports or stock recommendations
Shoonya is ideal for cost-conscious investors, active traders, and those who want to grow their wealth without high brokerage charges. If you value transparency, technology-first platforms, and low-cost investing, Shoonya is designed for you.
Click here to open a free demat account and start investing today.
Best Discount Brokers in India #6 – 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 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:
- Delivery charges: Rs 0
- Intraday Trading: Flat ₹20 Per Trade
- Equity F&O: Flat ₹20 Per Trade
- Currency F&O: Flat ₹20 Per Trade
- Commodity F&O: Flat ₹20 Per Trade
Account Opening Charges with Angel Broking:
- Account opening charge: Rs 0 (Currently Waived)
- Annual Maintenance Charge: Rs 240 (Rs 20 Per Month)
Trading Platform: Angel iTrade, Angel Broking Mobile App, Angel BEE
Pros of Angel Broking:
- Cheapest full-service broker with personalized services
- Expert Research Reports & market advisory
- Fast account opening process
- Zero Brokerage on Long-term (Delivery) Trades,
- Flat Rs 20 per order for all other trades,
Cons of Angel Broking:
- No 3-in-1 account
- Call & Trade are charged extra
Quick link to open your FREE account with Angel Broking
Best Discount Brokers in India #7 – 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 , 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 is not available on delivery trades
Quick link to open your account with Upstox
Best Discount Brokers in India #8 – 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, and commodities, 5Paisa also offers its services in mutual funds, Insurance, and 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:
- Free delivery trading
- A low brokerage of flat Rs 10 per trade
- 100% paperless account investing
- Investment in stocks, mutual funds & insurance from the same account
- Lower maintenance charges
- Multiple brokerage plans are available based on clients’ preferences offering flexibility
- Research reports and advisory (for higher plans)
Cons of 5Paisa:
- No 3-in-1 account
- Higher exchange transaction charges
- No commodity trading facility
Quick link to open your account with 5Paisa
Best Discount Brokers in India #9 – 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 the 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 the 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 a 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 a 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
Best Discount Brokers in India #10 – 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 amid the pandemic the company also offered equity trading.
The vision behind the Groww App was to set up was to create a powerful yet simple-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:
- Simple and intuitive user interface
- One platform to invest in stocks, mutual funds, gold, and US stocks.
- Investing facility for US Stocks available
Cons of Groww Demat & Trading Account:
- Currency and Commodity trading facility not available yet.
- As a newer entrant, the trading platform is yet to be tested to work smoothly on high trading days.
Quick Link to open your account at GROWW
Best Discount Brokers in India #11 – Paytm Money
Paytm received approval from the SEBI in 2019 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 funds, SIP, and 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 first-time investors flocking to the stock markets with the added disposable income, 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:
- Big Brand with multiple investment options in the same platform
- Lowest on Intraday – ₹10 per trade
- Fast online account opening within minutes
Cons of Paytm Money:
- Zero AMC but ₹1 per day as platform charges
- As a newer entrant, the trading platform is yet to be tested to work smoothly on high trading days.
- Currency and Commodity trading facility not available yet.
Quick link to open your account at Paytm Money
Best Discount Brokers in India #12 – 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 of +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 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:
- Low and Unique Brokerage Plans,
- The higher margin for trades,
- Zero additional software charges,
- Zero Demat AMC charge for the first year
Cons of Trade Smart Online:
- 3-in-1 not available,
- No direct IPO Investment,
- 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
13. 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, up to 80x Leverage for Nifty, 33x leverage for stocks, and 60x for commodities.
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:
- FREE Trading and Demat Account opening,
- Excellent margin products available for traders,
- Flat max rate Brokerage Plan Rs 20 per trade
- AADHAAR-based instant paperless account opening.
Cons of Samco:
- Online IPO, FPO Application not available
- Mutual Fund investment is not available
- Doesn’t have branches to offer local offline support
Quick link to open your account with SAMCO
14. Flyers
Incorporated in 2015, Fyers is a Bangalore-based fast-evolving online discount stock broker founded by young entrepreneurs with broad experience in trading and the stockbroking industry. FYERS word is an acronym for “Focus Your Energy & Reform the Self”, which represents the core philosophy of the company.
Services offered: Fyers offers 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 a 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:
- Free online account opening
- Free delivery trading and low brokerage
- Advanced charts, real-time screeners, and analytics
- Thematic investment platforms for investing in the latest themes
- Moderately high exposures- Offers up to 16 times margin in equity intraday segment
Cons of Fyers:
- Higher demat account maintenance charges
- Slightly higher exchange transactions compared to other discount brokers
Quick link to Open an Account with Flyers
15. 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 plan:
Freedom Plan:
- Freedom plan offers ZERO brokerage in all segments
- However, this plan does give very little or no margin/exposure and hence might not be suitable for active traders.
Pro Plan:
- The pro plan by Wisdom Capital is designed for professional traders.
- Suitable for traders who need higher intraday exposures/margins
- Delivery trading brokerage: 0.005% of the transaction
- Intraday trading brokerage: 0.005% of the transaction
- For the rest, the brokerage is Rs 9 per trade (for NSE futures & options, currency & Commodity Trading at MCX).
- Pro plan offers an intraday margin In NSE cash up to 40x MIS.
Ultimate Plan:
- The ultimate plan is designed for high-frequency traders
- Delivery trading brokerage: 0.007% of the transaction
- Intraday trading brokerage: 0.007% of the transaction
- For the rest, the brokerage charged Rs 15 per lot in options, 0.005% NSE futures, currency & Commodity Trading at MCX.
- 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 offers services in equities, future, 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:
- Zero brokerage in FREEDOM Plan,
- Flexible brokerage plans depending on client preference,
- High exposure/margin in higher plans
Cons of Wisdom Capital:
- No facility to invest in IPO, FPO, Mutual Funds, FDs, and NCDs
- Not much focus on developing technology platforms
- Average customer support
Quick link to open your account with Wisdom Capital.
16. Tradejini
Incorporated in 2012, Tradejini is a Bangalore-based discount broker that 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:
- Low Brokerage Charges
- Single trading platform for all transactions and segments,
- In-house CDSL depository participant
Cons of Tradejini:
- Doesn’t offer a 3-in-1 account,
- No facility to invest in IPO, FPO, FDs, NCDs, and Offer For Sale (OFS),
- Only non-agriculture-based commodity trading allowed
- 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 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, with 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 offer 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 the best tips?
Some discount brokers like Angel One offer 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 save a lot of brokerage money and generate higher returns. Moreover, they offer a fast and technology-first approach to 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 holding-time horizons in all 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 a broker that 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, 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 can 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?
By utilizing the stock screener, stock heatmap, portfolio backtesting, and stock compare tool on the Trade Brains portal, investors gain access to comprehensive tools that enable them to identify the best stocks also get updated with stock market news, and make well-informed investment decisions.
